All you need to know to understand their current dominance
Whether you are climbing your way up the ladder at an international company, leading a team, or working towards personal career goals, the knowledge and experience you acquire during a Masters in Business Administration will open doors for you. In addition to world-class professors, you will have access to a global network of business leaders and these provide a valuable channel to connect you to global success.
Companies that wish to succeed on a global level require branding that can translate into different cultures and maintain relevancy. When you study marketing management and data analysis, you will improve your capacity to reach customers in both online and offline global markets. Leadership training will give you the tools to mobilize a team to achieve ambitious goals and transform success from local to international stages. Here are a few ways your advanced business training will help you develop your global brand.
One of the most important marketing principles that will be solidified by business school is: to expand your brand you must know your brand. In your courses, you will learn the right questions to ask to achieve your goals. For example, what is the essence of your brand? What messages will resonate with your target customers?
To know your brand is to know your customers, and to take your brand global is to know customers in different markets. In addition to understanding the complexity of global economic factors, your brand must employ messaging that is both distinct and adaptable. If you understand how to optimize your messaging in your home market, you will be better equipped to take your brand into an international arena.
Every territory has different needs and demographic qualities. In order to understand how your brand will fit into a new landscape you must employ business research skills and have a deep understanding of real world business activities. Use the knowledge you gain from an MBA in sales to identify examples of success and lead your team down the right path.
Examples that highlight the importance of research are IKEA, Coca-Cola and Airbnb. IKEA learned to provide slight variations in products to suit different furniture needs from region to region, but kept the branding the same. Airbnb established a dedicated localization department so they could expand to 190 countries. Finally, Coca-Cola launched their “think local, act local” campaign in response to backlash that claimed their branding was too American-centric. This example emphasizes the need for detailed research before launching global efforts.
Part of finding your place in the global market is gaining an understanding of your competition. It can take time for a brand to build trust outside of its home market, especially if there is stiff competition. The research methods you apply to understand demographics and success stories should also be applied to understanding who it is you are competing with.
When you study marketing management you will learn how to perform in-depth analysis and you will be prepared to identify the ways in which a brand is successful and the ways in which it can improve. You should be able to transform those lessons into an action plan for your team when you are ready to go global. When you understand your competition, it primes you to surpass it.
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