Branding in Asia
April 7, 2008 | Author: Editor | Filed under: Branding & logos
Business in Asia is booming. But still there is one aspect which Asian companies neglect which can provide the security and profitability they seek - the creation of a powerful international brand.
In “Branding in Asia” Dr. Paul Temporal , Asia’s leading expert on brand creation, development and management, explains the important role of a strong brand. His book highlights the need for Asian companies to work hard on the branding issue.
A surprising number of corporations that were listed on the Fortune 500 a decade ago are now no longer on it. Branding helps companies position themselves strategically for the future and compete with the global concurrences that dominate world markets.
The message for Asian companies is that only focusing on short-term profits is clearly necessary but not enough. It would be unwise not to concentrate on the long-term health of the company, which could bring more rewards with building of strong brands.
What makes a good brand?
According to Dr. Paul Temporal the reason for Asian businesses for creation of powerful international brand are the financial rewards:
- Competitive differentiation
- Premium prices
- Higher sales volumes
- Economies of scale and reduced costs
- Greater security of demand
But creating a new name is not an easy task. Attention should be paid to these aspects:
- Simple to spell
- Easy to pronounce
- Unusual and distinctive
- Easy to recall
- Protectable e.g. by trademark
- Universally acceptable
For the end consumer a brand helps simplify decisions and generates choices. It offers quality assurances and reduces risks. Brands help self-expression and offer friendship and pleasure. As you can see branding is sometimes highly complex.
Source: Branding in Asia by Dr. Paul Temporal
