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Monday, August 23, 2004 

Power of the Consumers

A few interesting points from today's FT Summer School on How model behaviour brings market power, which is adapted from an article, 'How Global Brands Compete', in the September issue of Harvard Business Review.

The authors did a survey on how consumers across the world perceived global brands and found that: "Consumers associate global brands with three key characteristics: quality and innovation, a symbol of global identity and social responsibility."

"People expect global companies to address social problems linked to what they sell and how they conduct business. The playing field is not level: people may turn a blind eye when local companies take advantage of employees, but they will not stand for transnational businesses such as Nike and ExxonMobil adopting similar practices

[...]

If consumers believe that global companies must shoulder greater social responsibility, executives do not have much of a choice, do they?"

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