International Business Forum Examines Global Branding

By Cassie Williams Jones

One-fifth of the top 100 major brands in the world are based in emerging international markets, according to the global research agency Millward Brown. In light of the current climate, the importance of smart global branding strategies in a changing world was the focus of the Virginia Commonwealth University School of Business’ 19th Annual International Business Forum this week.

The forum highlighted competitiveness among commercial brands in an increasingly global market, and the critical need to identify and differentiate a brand in a pool of international competition.

Globalization has reached new heights, and “is the super story of our time,” said moderator and forum organizer, Van Wood, Ph.D., professor of international marketing and Philip Morris Chair in International Business in the VCU School of Business.

“Creating and Sustaining Global Brands as Globalization Gains Depth and Breadth” featured a panel of experts on global branding, and was attended by students, faculty, staff and local business professionals. Panelists included Jim Joseph, president of Cohn & Wolfe North America, a global communications and public relations agency; Joe McCarthy, former CEO of Publicis New York, an integrated marketing communications agency; Ian Davidson, worldwide account director in London at the locally based Martin Agency, an advertising firm; and Helayne Spivak, director of the VCU Brandcenter.
       
A common thread to the experts’ messages was the steadfast significance of the human experience. Each panelist touched on the importance of recognizing the individual and bonding with the consumer on a human level, even when marketing to a broad, international audience.

“It’s not a matter of local marketing, or regional marketing, or even international marketing,” Spivak said. “It’s about finding something universal – a truth.”

“I believe the strongest brands go well beyond the physical attributes – colors, design elements ... but instead really go deeper, and have a soul, and are more authentic and true,” said McCarthy.

Davidson agreed. He said that in order to achieve results anywhere in the world, there must be creativity, respect for all cultures and an embrace of the variations.

A defined point of view in branding was also something many of the panelists discussed, and said this is a much newer trend for brands and marketers.

“I think it makes sense for brands to have a voice,” said Joseph, who emphasized the importance of being relevant to current events and pop culture. “It can be a form of targeting.”

Speakers discussed marketing to a range of countries, but Spivak particularly emphasized China. She quoted one projection that by 2030 China will have 1.4 billion middle-class consumers.

She believes that in order to effectively market to Chinese consumers, marketers must first understand their values, cultures and traditions, and be flexible enough to customize their products and tactics to fit them.

“China is as different from us as we are different from them,” she said. “And we are the ones who are going to have to change.”

The forum concluded with audience questions for the panelists. A reception following the forum offered additional opportunities for students and others to interact with the experts.

Sponsored by Universal Corporation, the forum began 1994.


Subscribe for free to the weekly VCU News email newsletter at http://newsletter.news.vcu.edu/ and receive a selection of stories, videos, photos, news clips and event listings in your inbox every Thursday.