By increasing intellectual property rights, some brands fail to work on the regulatory steps to stop other competitors from making a copy and duplicate of their genuine brands which creates confusion amongst their clients in their backyard (Gillespie & Riddle, 2015). However, the action of duplicating one company's product can be beyond the company as a victim, it depends with the legislation and the policy associated with the act, some nations don't take actions against copycat industries hence making the market unethical.

Leverage external partners, many companies fail to have a joint venture of coming together with another successful company with the same goal and products in the form of brand spillover. Companies should focus on building brands through credible delivery to win the heart of customers at large.

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Conclusion

In conclusion to the discussions, analysis, and summaries of this project, findings of this paper come out as follows,

Like the Jim Beam situation, focusing on the brand idea is the main foundation that builds the brand both locally and globally. With Jim Beam concentrate on their brand idea, resulting in the significant impact of the brand.

Political and economic policies may hinder the marketing activities of foreign marketers. Some countries have different and hectic policies that may not favour a particular international product.

Many consumers have built confidence in the old products that have been existing in the market and does not give a chance to the new products, but that is unethical in the market, it may be termed as the market torture of the less privileged.

References

Boone, L. E., & Kurtz, D. L. (2014). Contemporary Marketing, Update 2015. Boston, MA: Cengage Learning.

Gillespie, K., & Riddle, L. (2015). Global Marketing. London, England: Routledge.

How to Build A Global Brand: Jim Beam [Video file]. (2016, August 28). Retrieved from https://www.youtube.com/watch?v=UyDIklp8aZA&t=372s

Keegan, W. J., & Brill, E. A. (2013). Global Marketing Management.