Academic Journal of Business & Management, 2024, 6(4); doi: 10.25236/AJBM.2024.060411.
Lyu Luyang
School of Intelligence Science and Engineering, Xi'an Peihua University, Xi'an, 710125, China
This study explores the challenges faced by companies engaging in brand extension and brand asset management across borders. With increasing globalization, businesses are expanding into diverse markets, encountering hurdles such as maintaining brand consistency, adapting to cultural differences, navigating legal complexities, and understanding varying consumer preferences. These challenges are compounded in brand asset management by the need to protect intellectual property, ensure brand integrity, and build a cohesive brand identity. To address these challenges, this work proposed that: 1) companies can employ several strategies, 2) market research and consumer segmentation can help tailor products and marketing campaigns to local preferences, 3) localization of marketing campaigns and brand messaging can bridge cultural and linguistic gaps, 4) strategic partnerships and collaborations can provide insights and access to new markets, and 5) leveraging technology for brand management can streamline processes and enhance brand visibility. By understanding and responding effectively to these challenges, companies can successfully extend their brands across borders while effectively managing their brand assets, ensuring sustainable growth and competitiveness in the global marketplace.
Brand extension, brand asset management, cross-border operations, market research, consumer segmentation, cultural adaptation, legal compliance, consumer behavior, strategic partnerships
Lyu Luyang. Brand Extension and Brand Asset Management: Challenges and Responses in Cross-Border Operations. Academic Journal of Business & Management (2024) Vol. 6, Issue 4: 66-71. https://doi.org/10.25236/AJBM.2024.060411.
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