Customers shop for Phu Quoc Island fish sauce, a specialty of the island in the southern province of Kien Giang. (Photo: VNA)Hanoi (VNA) - Up to 80 percent ofenterprises invest less than 5 percent of sales revenue in brandingdevelopment, undermining the domestic and foreign market share for Vietnameseproducts.
This was one of the issues discussed at a conference in Hanoi on June 21 onimproving competitiveness through branding development.
The conference, organised by the Ministryof Industry and Trade (MoIT), was designed to discuss the current situation andtrends and solutions in the development of Vietnamese brands, trends inconsumption and the role of geographical indications in brand development.
Dang Thuy Ha, Director of Nielsen Vietnam,said that 80 to 90 percent of consumers say brand origin is more important thanother product characteristics. Enterprises should therefore focus on consumertrends with specific customer groups and devise long-term development strategies.
"Enterprises should pay attention toincreasing the advertisement of products and firms’ brand names on mass media,especially on the internet. At the same time, firms must also concentrate ondomestic and international trademark registration,” Ha recommended.
Declan P Bannon, senior lecturer at BritishUniversity Vietnam, said Vietnamese businesses should priortise researching andsetting targets for better strategies than their competitors, and moreimportantly, to focus on the intrinsic customer-side of the business.
"Building branding creates a hugeadvantage in sales. However, to develop a brand, the products must be of highquality. Good branding will help boost sales. If consumers are happy with thequality of the products, they will buy more. When customers are favoured, evenmedium-quality products combined with good branding will help build the brandinto the desired product," Declan analysed.
The Vietnam National Trademark Programmewas launched in 2003 with the aim of building Vietnam’s reputation fordiversified goods and services in order to improve competitiveness ofVietnamese brand names in domestic and international markets.
The programme also promotes the awarenessof distributors and consumers of Vietnamese brand name products, builds theimage of Vietnam as associated with the values of "quality,innovation, creativity, leadership". In addition, the programme helpsraise the country’s prestige, pride and attractiveness, contributing topromoting tourism and attracting foreign investment.
Do Kim Lang, Deputy Director of the MoIT’sTrade Promotion Agency, affirmed that the strategy for brand development formajor export products, on the basis of coordination between the product brandnames and geographical indications for local brands, will create a favourableenvironment for branding development activities of enterprises.
At the same time, the promotion of nationalbrands and national branded products through mass media channels orinternational trade events will help raise awareness of and national pride indomestic brand products.-VNA
This was one of the issues discussed at a conference in Hanoi on June 21 onimproving competitiveness through branding development.
The conference, organised by the Ministryof Industry and Trade (MoIT), was designed to discuss the current situation andtrends and solutions in the development of Vietnamese brands, trends inconsumption and the role of geographical indications in brand development.
Dang Thuy Ha, Director of Nielsen Vietnam,said that 80 to 90 percent of consumers say brand origin is more important thanother product characteristics. Enterprises should therefore focus on consumertrends with specific customer groups and devise long-term development strategies.
"Enterprises should pay attention toincreasing the advertisement of products and firms’ brand names on mass media,especially on the internet. At the same time, firms must also concentrate ondomestic and international trademark registration,” Ha recommended.
Declan P Bannon, senior lecturer at BritishUniversity Vietnam, said Vietnamese businesses should priortise researching andsetting targets for better strategies than their competitors, and moreimportantly, to focus on the intrinsic customer-side of the business.
"Building branding creates a hugeadvantage in sales. However, to develop a brand, the products must be of highquality. Good branding will help boost sales. If consumers are happy with thequality of the products, they will buy more. When customers are favoured, evenmedium-quality products combined with good branding will help build the brandinto the desired product," Declan analysed.
The Vietnam National Trademark Programmewas launched in 2003 with the aim of building Vietnam’s reputation fordiversified goods and services in order to improve competitiveness ofVietnamese brand names in domestic and international markets.
The programme also promotes the awarenessof distributors and consumers of Vietnamese brand name products, builds theimage of Vietnam as associated with the values of "quality,innovation, creativity, leadership". In addition, the programme helpsraise the country’s prestige, pride and attractiveness, contributing topromoting tourism and attracting foreign investment.
Do Kim Lang, Deputy Director of the MoIT’sTrade Promotion Agency, affirmed that the strategy for brand development formajor export products, on the basis of coordination between the product brandnames and geographical indications for local brands, will create a favourableenvironment for branding development activities of enterprises.
At the same time, the promotion of nationalbrands and national branded products through mass media channels orinternational trade events will help raise awareness of and national pride indomestic brand products.-VNA
VNA
