• SME News
Understand Full Meaning Of Branding, Matrade Tells Companies
KUALA LUMPUR, Jan 14 (Bernama) -- Malaysian companies need to understand the full meaning of a brand in order to enhance their competitiveness in the global market, according to Malaysia External Trade Development Corporation (Matrade).
"Brand development is not just about spending money on advertisements, but it is about delivering a positive experience and service to your target consumer," Matrade's chief executive officer Datuk Noharuddin Nordin told reporters after the launch of the inaugural Putra Brand Awards here Thursday.
Noharuddin said many companies, especially small and medium enterprises, have the wrong impression that building a brand was spending money on advertisements. "Although advertising is a component of brand building, the process starts from research and development to manufacturing and delivery," he said.
Asked whether grants being offered by the government were sufficient to move the industry in terms of brand building, Noharuddin said: "I think it's enough because branding is not about money spending on advertisements, but also coming up with a good product and packaging." He said plenty of funds were available under SME Corporation such as grants for product development and technology.
He added that the Branding Association of Malaysia, a non-profit organisation, was also providing assistance to small and medium scale entrepreneurs to understand branding by organising educational programmes and consultations. On the acceptance of Malaysian brands on the global front, Noharuddin said some of the local brands have been successful but Malaysia still did not have a global brand.
"We have a lot of international brands. Petronas and Proton are great international brands. At the private sector level, Bonia is an international brand as well as Pensonic and Khind in the consumer electronic segment," he said.
The difference between global and international brands is that a global brand is recognised everywhere, with Nike as an example. The Putra Brand Awards marked a strategic partnership involving Matrade, Pulse Group, Malaysian Advertisers Association, Media Specialists Association and Branding Association of Malaysia.
Organised in association with the Malaysia's Most Valuable Brands, the awards are a recognition and brand valuation exercise initiated by the Association of Accredited Advertising Agents Malaysia (4As). Under the Putra Brand Awards, there are 18 categories and the best brands will be announced on March 12, 2010. -- BERNAMA
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