Actively Manage your Brand
What does singer Taylor Swift know about the science behind perfumes? – She launched Wonderstruck by Taylor Swift in 2011. What does George Clooney know about coffee beans and coffeemakers? – He endorses Nespresso. Maria Sharapova has spoken publicly about the number of Tag Heuer timepieces she receives, and gives away to friends and family. The tennis player recently launched her own line of candy.
Brand association is a powerful thing, and the companies which fork out huge fees for celebrity endorsements know it, as do the celebrities who pocket the fees. Locally, this marketing strategy is not uncommon. Consider Tao Li’s splashing form on Milo tins; the unspoken message is that Milo is the beverage of champions. How about having a group of celebrities to grace an event? As the glamour factor shoots up, so does the perception of the brand.
Fledgling companies and SMEs which face mounting challenges as market conditions become increasingly tough, need to leverage their brand as a value proposition. But before that, they need to decide on what they want their brand to be. This is no easy task. ASME President Chan Chong Beng has called branding a product “a risky process – it takes a delicate blend of the myriad elements to successfully produce a thriving brand, regardless of the product it is attached to.” When done right, branding can help a company go very far, and there are ample examples of how companies have successfully expanded into non-core business areas based on the strength of their brand.
It does not matter which industry you are in. With the intense battle for customers, it is critical to invest in your brand. Define it, develop it, own it. Only when you know what you stand for can you create the right strategies to reach out to your target audience, and embark on sustainable growth.
For SMEs which have limited resources for brand audits, the SME Consulting Programme managed by UOB-SMU Entrepreneurship Alliance (USEA) is a viable option for its methodical and scientific approach, and affordability.
In Issue 6 of our newsletter, we look at how the consulting programme has helped three companies from the auto, retail and F&B industries.
Have a good read!
The Learning and Discovery starts here!
|A Delight to Hold and Behold – Bags from House of Anli
House of AnLi creates bags that are a pleasure to collect and a thrill to carry. Drawing inspiration from the spectacular French Rivera, Belgian-born designer Anne-Jean Liétaer infuses the bags with the spirit and soul of the region.
|Revving into the Future – Keng Soon Auto Pte Ltd
Keng Soon Group was founded in 1959 as a pioneer in motor vehicle, hire purchase and motor insurance in Singapore and Malaysia. Over the years, Keng Soon Auto Pte Ltd has established itself as one of the top 10 in Singapore’s car rental service industry – a position it continues to hold with its strong customer base and reputation… read on
|Healthy, Tasty, Convenient – Unisoy Organic Soya Milk Powder
“Created for your everyday needs”, the slogan for Unifood International (S) Pte Ltd aptly encapsulates its core food business. Established in 1994, it has its beginnings as a general wholesale trading company specialising in the supply of food packages and festive hampers for the Chinese Seventh Month Festival…read on
Last updated on 28 Jun 2017 .