People who say don't need to worry about your competitors couldn't be more wrong. Competent managers have to know how to position their brand relation to the competition, in terms of factor like price and quality of the product. Managers should relate the brand's values in a meaningful way to the consumers they have targeted. With worldwide brand this may mean changing your message from country to country, or even within one market. Coca-Cola produces a version for japan which is sweeter than the one sold in the US. The japanese prefer beef with a higher fat content, so McDonald's naturally obliges. Ronald McDonald's name was even changed to Donald because the japanese have trouble saying "r".