Interbrand: Think globally [Bangkok Post, Thailand]
(Bangkok Post (Thailand) Via Acquire Media NewsEdge) Oct. 07--Interbrand, a New York-based branding consultancy, suggests the Thai government encourage small and medium-sized enterprises (SMEs) to build their brands to prepare for the Asean Economic Community in late 2015.
Julian Barrans, the managing director of Interbrand Singapore, said branding is an exciting way for SMEs to survive in the industry as Thailand shifts from being a labour-intensive country to being a producer of value-added products.
In Singapore, two government agencies under the Trade and Industry Ministry assist SME development.
Spring Singapore is aimed at enhancing SME competitiveness in order to develop a strong base of dynamic and innovative enterprises, allowing them greater access to markets and business opportunities.
IE Singapore spearheads the growth of local companies abroad and promotes international trade.
Generally, local companies wishing to become regional or global brands should apply three things to build their brands.
Digital media is the first tool that plays a key role in branding and accessing customers at low cost. Social media are an efficient tool for new brand opportunities to collaborate with consumers, particularly in Thailand, where social media are very popular.
"Besides communication, they're also a channel for direct sales to make a big change in the retail industry," Mr Barrans said.
The second tool is unity of internal communication in an organisation.
Finally, brands should have sustainability in the future.
They should collaborate with consumers and allow them to have brand experiences.
Lifestyle marketing should be used to promote brands and engage the products in daily life.
Interbrand has identified the top 100 most valuable global brands, and Apple is No.1.
The top 100 list includes a few Asian brands such as South Korea's Samsung and Hyundai and Japan's Toyota and Honda.
Mr Barrans said there are three criteria for brand identification _ a brand's role in understanding customers, its influence on demand and its strength in fostering customer loyalty.
(c)2013 the Bangkok Post (Bangkok, Thailand)
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