Country Branding and its effect on the consumer in the global market

Abstract

Country Branding -a relatively new type of marketing and public diplomacy- is a developing field and a tool that governments use to promote their goods and services and to enhance awareness about their country, promote tourism, increase trade and attract foreign direct investment (FDI) and talent. A Country Brand is more than a sum of its products. The purpose of this literature review is to investigate the key components of international and intercultural transactions and to focus on how these influence the Nation Brand. In the global marketplace, where products and services from different countries are competing for market share, it is important to understand how a product’s place of origin contributes its overall image, and how consumers relate to the foreign product. By identifying the consumer it is possible to gain an understanding of the cultural influences that determine the consumers’ relation to the product, service, or Nation Brand. Likewise, this paper relates previous studies in the fields of country-of-origin (COO) and consumer studies as influential factors the evolution of Country Branding. By gaining a clear idea of the relationship between these three fields –COO, consumer and Country Branding-, scholars and professionals can assess the influence that a product’s country-of-origin has on its audience, and create country brands that effectively define the product and reach target consumers.