In a global economy, strong brands can act as ambassadors when companies enter new markets. Listen to Dialogue in the Den
for tips on taking a brand global.
To move a brand successfully from one culture to another, an entrepreneur needs to identify the fundamental need addressed by the brand. Entrepreneurs sometimes underestimate the effort required to take a brand global. That's because the most effective brands reflect the culture in which they thrive.
The connotations of a simple element such as a colour can be positive in one culture, but negative in another. Other factors that enhance a brand's recognition in one culture, such as humour and innuendo, may diminish it in a different culture.
Entrepreneurs should research carefully their target market to make sure they convey a meaningful story, in a language that their intended audience understands.
As KPMG Enterprise's 2009 study called Taking on the World reveals, most Canadian companies expand initially into the United States, where their brands usually remain effective in a similar culture and language. But as they expand further, into emerging markets like China and India, Canadian companies need to take a closer look at the linguistic and cultural nuances that may affect their brand's effectiveness.
A company's brand name itself must be tested to avoid linguistic confusion. The word Nova, for example, a model of car, conveys a much different message in English-speaking Canada than it does in Mexico, where it means "no go" in Spanish.
Before they decide to expand their business, entrepreneurs should appreciate the risks of taking a brand global. Confusion, misunderstanding and misinterpretation associated with a brand can do irrevocable damage to a company and eliminate its chances for success in a foreign market.
Listen to Dialogue in the Den
where along with Dragon Arlene Dickinson, we review the basics of taking a brand global.
Free Download: Taking on the World 2009
Brought to you by KPMG EnterpriseTM
By Beth Wilson, Toronto Managing Partner
KPMG Enterprise. Trusted business advisers to the Dragons.
The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of KPMG LLP. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
Posted on Nov 9, 2009 10:00:00 AM