Sunday, November 25, 2007

Don't Get Lost in Global Translation

Decades ahead, Japan was on the forefront of creating global brands like Toyota, Minolta, Sony, Pentax, Sharp, Panasonic, Canon and hundreds of other five star standard names, as names originating from the Japanese language would have never gained such global acceptance. Surprisingly, today, China is stuck with too many local language-based name brands that inhibit internationalization of their identities.

What are customers around the world saying about the new booming Middle Eastern brands? What are they reading in the brand names? Which ones are they loving and talking about? Which ones can they pronounce, type and remember easily? Are these new local brands leading the charge for global mindshare and creating a sense of greatness, or are they seriously lost in global translation?

Currently, 99 percent of mega-Middle Eastern projects are being branded under Arabic-based names -- which are mostly foreign to international audiences -- while some are projecting mixed messages due to translation. These stumbling blocks can seriously limit brand-name appreciation, prolonging the costly process of obtaining global mindshare.

To appreciate this dilemma, unless you are fluent in Japanese, try to make sense out of a fancy scripted Japanese name with some deeply rooted cultural message and a rich heritage.

For this reason, more than half a century ago, the global image-savvy corporate Japan developed all of its major brand names based on international rules of translations, taking into account unintended connotations and pronunciations. This was done with an eye toward global appeal, making the names easy to talk about, spell and remember. Contrary to popular belief, America really provided the most resistance to global branding . It was the Japanese who truly laid the systematic foundation on what makes globally accepted and universal name identities fit enough to capture global attention.

Decades ahead, Japan was on the forefront of creating global brands like Toyota, Minolta, Sony (NYSE: SNE) , Pentax, Sharp, Panasonic , Canon (NYSE: CAJ) and hundreds of other five star standard names, as names originating from the Japanese language would have never gained such global acceptance.

Surprisingly, today, China is stuck with too many local language-based name brands that seriously inhibit internationalization of their identities. That's very bad for a country now recognized as the world's largest factory. Done properly, China could have easily claimed hundreds of globally popular names. India currently sits in the middle. Being more open to non-local-language naming, it is now on its way to becoming the next global powerhouse of domestic brands,

In order to truly benefit with these global intricacies and having a vision to acquiring universal name identities, one must bite the bullet first, and be open to a frank and candid boardroom-level discussions in micro detail; a process demanding a commanding knowledge of global business naming procedures, corporate nomenclature and many other different skills unheard of in the traditional logo-centric, slogan-happy branding process.

After all, the prime objective of any brand name is to spread its wings and fly in expanding markets, something only possible when names are without extra luggage.


A for Arabic Naming


Currently, in the Middle East, the traditional long branding process ends in an Arabic name, often starting with the letter "A", a most intricate logo with colorful schemes, something extremely difficult to appreciate or decipher on the global markets. Any assembly of the top 50 names and their logos would clearly spell out the global challenges facing this process.

Does this now mean that we should abandon Arabic words or start discussing prospects for depending on the letters "B" or "C"? Not at all. It means we should be aware that the alphabet of each language has hidden characters, strengths, weaknesses and related trends; it's not a simple question of the cut-and-paste solution of inserting letters into famous or already existing name brands.

Naming from the English dictionary has also been a common problem in the West decades ago. At one time, there were hundreds of companies in the U.S. with names such as Dynamic, Quantum, Prism or Rainbow. At the time, they sounded powerful and fresh, but many eventually died out due to worldwide name confusions. Furthermore, global e-commerce and the use of digital branding for domain names clearly points to a serious need for highly specialized skills.

It is also very important to note that despite the seeming dominance of English, there are some 2,700 different languages with 8,000 dialects around the world. Altogether, there are 12 important language families with 50 lesser ones. Indo-European is the largest family in which English is the most important category.

Based on usage by population, the following is a list of major languages in descending order: Chinese, English, Hindustani, Russian, Spanish, Indonesian, Portuguese, French, Arabic, Bengali, Mali and Italian.

"Nay" is yes to Greeks. The American "yeah" means "no" to the Japanese. A simple laugh -- "ha, ha, ha" -- means "mother" in Japanese, while "Ohio" means "good morning." In Russia, "looks" means "opinion" and "socks" means "juice." In France, a simple sign of "sale" means "dirty." To the British, long distance is a "trunk" and elevator a "lift." The Chinese word "mai" said in a certain style means to "buy" and in another style to "sell." When enunciated together, "mai mai" means "business." The simplicity turns into complex marketing challenges. Global understandings of these issues are pre-requisite in achieving a globally acceptable name-identity.

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We all had better be wary of language issues. Customers are no longer simply local to your streets; they are scattered all over the globe, local to their own streets, yet still somehow connected together. The next branding challenge for the Middle East is to acquire a deeper understanding of universal image and identity management.

The best thing to do is conduct a highly professional third-party nomenclature audit. Many businesses, convinced that that they have the best and most well-known name identity may actually just be hearing it from their own people and customers in their own market.

The real challenge is to measure the unknown customer base at large, in new and untapped territories. Check connotations and language issues to find out where the name could be rejected or taken as too confusing and forgettable.

The ultimate goal is to acquire globally recognized name identities, and name personalities are only good when they are liked and understood by the global audience. So why stay lost in global translations?

Source: http://www.ecommercetimes.com/story/emarketing/60190.html

Toyota humiliates Ford and Holden in October sales

Toyota Australia's market dominance reached a new level last month when the company's new-car sales outsold Holden and Ford combined, reports JOSHUA DOWLING.

In a first for the Japanese car giant, Toyota has beaten the new monthly car sales of Holden and Ford combined as Australia's manufacturers struggle against a wave of imported vehicles.

As the price of crude oil approaches $100 a barrel, new cars are selling at a record pace and sales are tipped to eclipse the milestone of 1 million new cars sold in a year by the end of the year. In Federal Chamber of Automotive Industries sales figures for October released yesterday, market leader Toyota sold 20,212 vehicles, whereas Holden and Ford sold a total 19,621.

Significantly, Holden and Ford were among only seven of the 42 brands to not post a sales increase in October. New-car sales were up by 8.6 per cent so far this year, the figures showed.

It is the first time Toyota has held such a strong lead over Holden and Ford and the company is on track to post its fourth year in a row as Australia's most popular car brand.

But Toyota wasn't popping champagne corks yesterday, saying it would rather have stronger competition.

"The result is double-edged," said Toyota's executive director of sales and marketing, David Buttner. "While it's pleasing to have strong sales we're mindful of the strong industry."

Toyota's Yaris hatch outsold by more than two to one Holden's similarly sized Barina. And Toyota's Corolla outsold the Holden Astra and Ford Focus small cars also by more than two to one.

Mr Buttner said Toyota's record sales were due in part to having a newer model line-up (most of its range has been updated or replaced in the past three years) and that Ford and Holden would bounce back as they updated their models.

Holden's Commodore remained Australia's biggest selling car, but sales of the Ford Falcon were down by 22 per cent in the first 10 months of this year compared with the same period in 2006. An updated Falcon is due in March.

Contrary to perception, sales of four-wheel-drives have never been stronger. Sales of light cars are up by 9.2 per cent and small cars are up by 5.4 per cent, but sales of four-wheel-drives are up by 15 per cent.

Toyota Australia's chairman emeritus, John Conomos, said he expected the new car market would reach the 1.04 million sales mark this year based on present trends.

Source: http://www.drive.com.au/Editorial/ArticleDetail.aspx?ArticleId=45307

Toyota Raises China Sales Goal

TOKYO — Toyota Motor Corp. said Wednesday that it has raised its 2007 sales projection for China on solid sales of small cars and aims to sell even more vehicles there next year.

Toyota, which appears to be on track to beat General Motors Corp. as the world's top automaker as soon as later this year, raised its sales estimate in China for this year to 480,000 cars from 430,000 due to the popularity of its Vios small car and the newly introduced Camry, Toyota spokesman Naoki Oku said.

The company sold 308,000 cars in China in 2006.

For 2008, Toyota aims to boost sales to 700,000 vehicles in the world's second biggest auto market after the U.S. That would be up 46 percent from this year's revised sales target.

The higher projection is partly because the company will begin production of the Yaris compact at a local plant, he said.

The company has said it aims to sell 1 million vehicles in China in early in the next decade. Oku said it is too early to say how soon Toyota can achieve the goal.

Executives at some Japanese car makers expect auto sales to grow to 10 million around 2010 in China, up 39 percent from the 7.2 million in 2006.

Source: http://www.chron.com/disp/story.mpl/ap/fn/5319668.html

Inflation in Russia in 2007 could exceed 11% - economic ministry

MOSCOW, November 15 (RIA Novosti) - Inflation in Russia in 2007 could exceed 11%, the director of the Economic Development and Trade Ministry's macroeconomic forecasting department said Thursday.

Andrei Klepach told journalists that originally, inflation in 2007 was expected to reach 8% attributing the rise to structural factors like price hikes in staple foods, as well as monetary factors.

Klepach said inflation in 2008 could exceed the 6-7% forecast. "We are currently specifying the inflation forecast for 2008. It looks like we won't be within 6-7%," he said.

The ministry official also said the Russian government could restrict grain exports in 2008 to curb inflation. "We may impose a direct ban or introduce an export duty," Klepach said adding that measures will depend on the market situation.

He said grain exports were 3 million metric tons in October and if this trend continues, the government will consider additional measures to restrict exports.

According to the economics ministry forecast, GDP growth in 2007 will reach 7.3-7.4%.
Source: http://en.rian.ru/business/20071115/88287581.html

The Branding Power of Business Networking

Kevin B. Levi interviewed Chris Pareja, founder of B2BpowerExchange.com, a leads group for “true B2B business developers”. Chris started the organization over three years ago as a means of cultivating substantial B2B (business-to-business) business opportunities for himself and others. Chris felt that normal business networking groups weren’t generating opportunities for him of the caliber he was seeking. To him, these organizations were primarily focused on exchanging retail-focused leads and not business-to-business opportunities which is where his focus was.

What follows is his interview with Chris…

Kevin: What does branding mean to you Chris?

Chris: It is the essence of how your business is perceived, not only inside your company but also by external audiences. I think too many people deliberately develop a brand independent of who they are and it winds up not being congruent. Brands are based in large part on one’s own personality and culture, and a brand should be an extension of you. It cannot be contrived. Your brand is how you are perceived, the words you say, the things you do, what you communicate on your website. It is what people say about your company when you aren’t around.

Kevin: Can you please talk about extending your brand through external parties?

Chris: There are two challenges to businesses extending their brand through external surrogates: first is how they articulate their value proposition to a customer – and, if they can get through to the second step – number 2 is helping others effectively articulate their brand for them. Some businesses struggle with succinct positioning. Those that can effectively articulate their value can equip partners, contacts, etc. with the ammo they need to sell their brand when they aren’t around.

Kevin: Do you have any advice for developing effective messaging?

Chris: A good rule of thumb I use to keep messages simple and easy to relay is to keep it “grandma playing bingo” simple. If your grandma can tell her friends at bingo what you do, and they “get it”, then it’s a successful value articulation.

Kevin: What made you decide to create your own networking organization?

Chris: Recognizing the power of third party branding and promotion, I started my own business networking organization to help businesses do just that. I wanted to help my business, prospects, marketing clients, and others extend their brands through other like-minded business professionals. In doing so, we all benefit from leveraging third-party branding support without doing all of the work ourselves.

Kevin: Tell us about your networking organization

Chris: B2BpowerExchange helps entrepreneurs, consultants, salespeople and others extend their brand to the right audiences through relationships with others who are targeting the same types of clients – senior level executives at B2B companies.

Kevin: What kinds of professionals belong to your organization?

Chris: Business professionals across the board, from marketing to sales to HR to service providers to CPAs and lawyers. We also have application developers, business process consultants, commercial real estate professionals, industrial solar power providers and much more.

Kevin: You said all of these businesses are targeting the same types of clients. Tell us about these potential clients.

Chris: Every member of B2BpowerExchange is selling to director-level executives and above in companies. This includes CIOs, CEOs, COOs, CFOs, VPs of sales/marketing, IT, HR, etc.

Kevin: Can you talk about the size and breadth of your organization?

Chris: Today we officially have 28 breakfast meetings a month covering 3 states – this is across several regional chapters. We expect to add two more states in the next 60 days and our goal is to increase our monthly meetings to 40-60 by the end of the year. We hold our meetings online as well as in-person based on region, metro area or according to specific interest areas. We are primarily U.S. based today but we do have individuals participating from Mexico, Toronto, Philippines, Ukraine and other countries. It helps our members reach into areas where they are not physically located and develop bonds with others around world that can bring them into deals they would otherwise not have exposure to.

Kevin: Can you give us an example or two of the power of your the organization

Chris: We had a consultant in the commercial energy space connect with someone in the commercial property space within his first month of membership. This business connection yielded him an $800K business opportunity that closed less than two weeks later. We recently had a marketing consultant, for example, bringing in an advertising sales rep for a half-million dollar deal. We have application development firms (technology) closing deals upwards of $250,000 based on connections they make through our organization. Our group provides our members with warm introductions to business prospects they otherwise might not be able to access or ever even know about. This dramatically shortens the sales process. In essence we’re providing business introductions to professionals through trusted relationships.

We also have many of our members partnering up to expand their own business capabilities with those of other companies. This in turn strengthens both brands. This teaming enables our professionals to deliver value to clients they couldn’t provide before on their own.

Kevin: You own your own business, aside from the B2BpowerExchange, correct?

Chris: Yes I do. My company is called LeadGenaires. We’re a marketing consultancy that breaks down barriers between sales, marketing and the management team resulting in measurable marketing programs.

Kevin: How has B2B extended your brand?

Chris: When I first started LeadGenaires and was in business for only one year, I was dong okay but not flourishing. After my first year starting B2B, I already was landing clients in multiple parts of the country. Today, I truly have more work than I can handle. Through B2B connections, I am also able to secure frequent speaking engagements, book writing opportunities and further extend my visibility - regionally, nationally and internationally.

Kevin: How many people leverage B2BpowerExchange today?

Chris: We have about 900 individuals participating around the world at various levels with 145 official members.

Kevin: How can people learn more about B2BpowerExchange and sign up themselves?

Chris: They can visit www.b2bpowerexchange.com, call 925-201-3410 or email me directly at chris@b2bpowerexchange.com. I’ll help get them connected right away. I really enjoy seeing people connect, collaborate, and mutually succeed.

Source: http://www.smallbusinessbranding.com/789/business-networking-brand-extentions/

The Powerful of Business Paternering

Regardless of the size of your business or the industry you operate in, aligning your business with complimentary organizations that can help you expand your reach and even your set of offerings can be a highly effective way to succeed, especially if you are a small business with limited resources.

Business partners can serve a multitude of purposes in the course of a mutually beneficial relationship. Here are several examples:

1. Help you expand and round out your set of offerings – if you’re a law firm and want to also offer a lower-end “product”, you can align yourself with a pre-paid legal services firm, for example

2. Expand your reach and penetration into new customer segments and markets – if you have a small firm operating in the U.S. and can find a viable, complementary partner in the U.K., for example, you can tap international market segments without having to physically expand into the region.

3. Make your operation appear larger than it actually is – if you have a sales force of just three people and decide to partner with an organization that offers a corresponding product, you can leverage their sales force as well as yours to sell both business’s products and services.

4. Grant you access to higher-level individuals within the companies you are targeting – If you can’t reach vice president level executives in your target organizations, a partner that already has existing relationships with these individuals can possibly afford you the opportunity to get some face time with these high-level professionals.

5. Increase your organization’s marketing power – if your business has limited promotional resources but can align itself with a partner that doesn’t, you can leverage their breadth to also gain heightened visibility

In life we sometimes find it better to borrow someone else’s stuff rather than buying our own. This same principle applies in business with regard to successful partnerships. You could expend tremendous resources to acquire the additional resources you need to grow your business or like the aforementioned stuff, you can find someone else who has what you need and “borrow” it. Unlike a drill or a lawn mower, however, the business scenario typically requires a mutually beneficial value proposition. No company will let you borrow its resources if you aren’t bringing something to the table that they can benefit from as well.

In the end, effective partnerships or alliances with like businesses can help you scale your business quicker and more easily than going it alone. Give them a try. I have, and it’s working wonderfully!
Source: http://www.smallbusinessbranding.com/837/the-power-of-business-partnering/#more-837

Women in poorer nations twice as likely to become entrepreneurs

Women in the world's poorer nations have a higher rate of entrepreneurial activity than those in wealthier nations, according to a new global study.

In a survey of more than 150,000 entrepreneurs in 40 regions around the world, women in low- and middle-income nations were found to be more than twice as likely to be involved in early-stage business start-ups as those in high-income nations, researchers at Babson College and the London Business School said.

In Russia, women were involved in 39.9 percent of all early-stage entrepreneurial activity, while in the Philippines they were involved in 22.5 percent, the study found. That compares to just 2.3 percent in Sweden and 1 percent in Belgium.

Overall, about a third of the world's entrepreneurial activity is driven by women, the study found.

"Early-stage entrepreneurship in women continues to grow globally," Elaine Allen, the study's principal researcher, said in a statement. "While overall women still lag behind men in starting a business, for the first time, we see parity or a higher rate in women in some low- to middle-income countries."

The study also found that women in poorer nations were more likely to be working a second job to support their own venture, suggesting that the social and economic benefits of being active in the workforce are a stronger driver of early-stage entrepreneurship than education or household income combined, researchers said.

Where women entrepreneurs in wealthier nations benefited from education and income, those in poorer nations fell back on work experience as a foundation for starting their own businesses. In the absence of capital and business training, workforce experience offered women in poorer nations access to social capital, networking opportunities, innovative ideas for launching new ventures, and other resources, researchers said.

Yet, while the gender gap between entrepreneurs narrowed in poorer nations, researchers found the chances of early-stage entrepreneurial activity by women developing into an established business was greater in high-income nations.

The difference in success rates may be related to education, researchers said.

As much as 36.5 percent of women entrepreneurs in poorer nations had less than a secondary school education, compared to 28.2 percent in wealthier nations, according to the study.


Source: http://www.reuters.com/article/smallBusinessGrowthNews/idUSN1319438320070313?pageNumber=1