International Branding Strategy of Small Emerging Economies` Firm─Evidences of Shoe Industry in Taiwan
Date Issued
2011
Date
2011
Author(s)
Wang, Chun-Kang
Abstract
After the financial crisis, the focus of world economic gradually shifted from developed countries like United States, Europe, Japan, to emerging countries such as China, Brazil, India and South Korea etc. In terms of population or domestic demand, emerging economies can be segmented into two categories: a large emerging economy with abundant labor force and a small one with creativity and technology. The latter must be confined to the limited domestic demand while branding, leading to its internationalization. However, this issue is relatively unexplored in Taiwan and this research focuses on international branding strategy of small emerging economies` firms.
This research includes three subjects. First, the necessity that firms in small emerging economy develop brands is analyzed based on resource dependence theory. Then, the selection of international markets by these firms is discussed with resource base theory and institutional theory. Last, we compare the value difference of small emerging economies` local brand and international brand. The study utilizes the enterprise development cases of Pou Chen, Daphne, Jump, and A.S.O. as an example. Citing the content of the cases confirm the literature. Seven propositions are derived and summarized as follow:
1.Most businesses in emerging economies are mainly OEM for international brands. They Strengthen the interdependent relationship with brand customer through enhance their core competitiveness. As a result, they don`t need to develop their own brand.
2.Most large emerging economies` governments use real premium to encourage foreign companies` local investment and the customers in large emerging economies have higher new brand acceptance. Small emerging economies enterprises who having poor resources, lower brand product differentiation, can enter large emerging economies to expand market share, strengthen core competencies, enhance brand value.
3.Developed countries have well-developed, strict laws and regulations. Local consumers have higher new product and technology acceptance, but they still have doubts about COO effects. As a result, small emerging economies` enterprises can enter developed countries accompanying with niche product and obtain the necessary resources to enhance brand value through the niche market.
4.Small emerging economies` businesses are familiar with and root in their local markets. They can compete with international brands through brand marking and brand value creation in local markets.
Subjects
resource dependence theory
resource base theory
institutional theory
brand value
Type
thesis
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