Replicating a brand’s success internationally can be a great way to multiply its profits. Culture and customs vary across the world, however, so what makes a brand successful in one country does not guarantee success elsewhere.
The growth of any brand will plateau if it is successful with its initial product range in its region of origin. Further growth must come from expanding the product range, extending geographically, or both. Before scaling your brand, the business fundamentals need to be in place. Investors seem keen to fund technology-based brands even if they have never made a profit, but this isn’t wise. According to Cyrine Ben-Hafaïedh and Anaïs Hamelin (2022), profit-focused brands...
Don’t let demographics scare you. You’ve seen the alarming headlines. Sure, the ominous trends are ominous, worthy of headlines. But not determinate. There is more to the story. There is always room for growth.
Lately, there has been a lot of hand-wringing over the sales of EVs. EVs are not generating as much interest as expected. US automotive giants, except for Tesla, have backtracked on their EV plans, even going so far as to say that hybrids may be in their futures, just like Toyota. Mercedes is pulling back, too. This is sad because late last year…Mercedes pledged to build 2500 charging stations in the US.
Rather than continually striving for technological advances, brands should shift their focus toward how their products and services can enhance the social relationships of consumers.
