The Challenges of Building a Global Brand

The big challenge in global branding is finding the stories and the meaning structure that are going to have cultural resonance across country or cultural lines. So when people talk about the price premium methodology, I think it leaves some of the aspects of brand valuation on the table. It doesn't take into account reducing the variability of future cash flows that comes from a loyalty effect. The world itself is globalizing. Consumers are consuming media across country lines. People are either physically or metaphysically traveling across those lines. And so you see less global brands and food categories than you might in categories like technology or personal care.