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How Brand as an Intellectual Property has Led to Corporate Globalisation?
Globalization has been called a major change in the factors affecting human relations in recent decades. Notable examples of these changes are seen in the growth and development of the Internet, satellite communications, fiber-optic technology, broadband operations, international organizations and the emergence of the World Trade Organization.
Globalization and changes in the way ideas are carried out and their final destinations lead to an increase in international trade and thus to increased competition. Companies grow by entering established markets to create new markets for their products. This requires them to have their own identity by establishing a brand identity and continuing to improve it in order to make a profit. As we expand and enter new markets; Creating, promoting and executing marketing activities using different international brands is expensive. The countries where the trademark is recognized, the higher the value and the need to protect the same through international registration. Registering a trademark is not just about high costs and procedural hurdles as you are registering the same in all countries.
Products have become part of the financial market, and the symbolic market because it affects and disseminates the system of using signs to control meaning and language as brands fulfill several economic functions.
Identity: At a basic level, it serves the role of identity by associating the product with the company.
Communication: In short, it has an informative function, because it provides a way to communicate effectively with information, thereby reducing the research costs of consumers when choosing a product. Signaling: Using a brand in marketing also helps in signaling, because, it shows that the company that wants to spend more money in its marketing must have created a good product. Explanation: Finally, branding also serves a logical function, in the sense that it connects the identity of the consumer or product to the product.
Mega – Branding Strategy
Branding is not just about the brand name, advertising, or brand usage, but the thoughts and beliefs that are conveyed when a person thinks about the brand. The best models were the ones that could create some ideas about medicine. Therefore, the “brand identity” moved away from focusing on the product and towards the psychological association of the brand with the identity. Today, businesses are developing a “mega-branding” strategy, in which companies spend a large part of their money on placing their brand on different products and events, increasing the connection between ideas, culture and associations. In this way the manufacturers control all the supply and demand based on the consumer’s behavior through creative marketing.
Brand Planning – An Invaluable Cost Management Tool
Brand planning is an important part of creating a business strategy for success. A good brand plan provides an overview of where the brand is, how it plans to position itself or reposition itself, and how it intends to achieve its goals. A well-organized and regularly updated information system is an important management tool that serves a variety of purposes. It helps to see the feasibility of taking a brand idea to market. The written plan forces the company to think about all the important factors – such as the potential demand, the type of competition, entry barriers, special marketing ideas, the necessary employees, the right technologies and partners, raising capital, the expected start – up costs, and so on.
A brand plan is an explanatory document that provides management with the objective of determining whether the brand is on track to achieve its goals and objectives with the resources available in a timely manner. Innovation is very important and vital to the future of marketing. Context, Leadership and core values of the brand are the drivers of innovation. One must answer “What is the current state of the nation? What threats to survival are there?” all over the world?Customer analysis and discussion help to generate innovative ideas.Internal sources and customers are the best sources of ideas.
The World Intellectual Property Organization (WIPO) has introduced and promoted the Madrid Protocol, which establishes a system for registering international trademarks in order to reduce the cost of multiple registrations in different countries. This protocol is called Intellectual Property Rights. Intellectual Property Rights covers Patents, Trademarks, Industrial designs, Copyright & related rights, Geographical Indications and trade secrets & undisclosed information. Tokens have become more than a way to protect market share. They have become an invaluable tool in finding and creating markets. From being just a trademark, it has become a trusted symbol like a brand. According to the author and journalist Naomi Klein, “the famous world where the logo is a common language that everyone understands” that leads to changes in the company’s marketing strategies: from promoting products based on the needs of the market, promoting the brand to stand out. life thus creates needs in the marketplace. The branding process creates an identity with the social and cultural values associated with the brand including the product itself.
Intellectual property in a brand system is important because business incubation or investors must understand and accept the relevance of the brand concept including its protection. New or original knowledge and / or expression of ideas, protected by the intellectual property (IP) system, helps their competitive advantage and success. Therefore, the brand plan should clearly reflect how the company plans to protect, manage and use its intellectual property to be successful. Patents for Brands provide commercial stability for new products and often play an important role in attracting investors or lenders. One or more patents together with the registration of an industrial design are shown as proof of a brand’s ability to prevent competitors from using the brand’s original or distinctive features. Therefore, the information system must include information and show the strategies that are planned to create, register and use the right intangible assets in order to win and keep market share from the competitors.
While including intelligence, the operational factors that make a brand smart such as, Challenge, customer focus, innovation, communication, cooperation, completion and imagination must also be considered.
The potential for willfully infringing someone’s intellectual property rights is high in the most advanced sectors. Confidential information such as details of manufacturing, production, technical, financial and commercial information are often sources of competition. Intellectual Property can be a very valuable asset. Controlling and pricing the brand’s balance sheet will make it attractive to potential investors. As the market place is more used, the cost will be higher when you are licensing or selling the brand.
Managing Intellectual Property is a difficult task for investors considering the market opportunities of the brand. As Intellectual Property gives the brand a competitive advantage and increases its value, it is important for marketers to know that the knowledge is integrated into the brand plan. The description of the brand’s assets and its market opportunities should mention both tangible and intangible, because the latter are often the key to the success of the brand. Emphasis on the growth of the brand has been matched by the wide spread of property rights in trademarks. In the past, the main motivation of the law was to protect the trademark to avoid the risk of consumer confusion, or piracy between goods that use similar trademarks. However, today, attention has shifted to information security. In other words, in order to protect their trademarks used in advertising and logos, companies turn to trademark laws, and copyright laws. According to the trademarks act 1999, the word trademark includes a device, color, title, letters, ticket, name signature, words, letters or numbers or any combination thereof. The new Trade Marks Act, 1999 has made significant changes in light of the liberalization and interdependence of the global economy. They mainly include the following:
a. Registration of Service Marks
b. Combined signals are provided
c. Two sections A & B were completed
d. Trademarks are protected even if they are not registered
e. Text formats can also be written
Therefore, the law of intellectual property should be an important part of every phase of a good brand system.
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