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ABOUT THE AUTHOR
It's a process that requires long-term commitment, and short-term profit needs to be sacrificed in order to build a strong brand. In the Philippines, local brand Jollibee has a 65% share of the domestic fast-food market, beating established global brand McDonald's.
PREFACE
The book describes the strategies and activities that will help us build, manage and leverage stronger Asian brands in the future. In this work, lecturer Julien Cayla from the Australian Graduate School of Management in Sydney has contributed many invaluable insights and helped shape many of the ideas and arguments presented in the book.
INTRODUCTION
This leaves the Asian manufacturer with only a fraction of the significant value that consumers are willing to pay for the brand in the end. Finally, this shift can only be achieved if everyone in the company is convinced of the power of branding.
BRANDING – THE DRIVER OF A SUCCESSFUL BUSINESS STRATEGY
Brand – The driving force of a successful business strategy 17. strong evidence that brand equity has a major impact on brand valuation and therefore the market valuation of companies. The risk was 0.85 for the strong brand portfolio versus 1.07 for the benchmark portfolio – the average market risk is 1.0.
TRANSFORMING HOW WE
UNDERSTAND ASIAN CULTURES AND CONSUMERS
These exotic images still permeate many advertising campaigns that seek to sell Asia to the West. A perfect illustration of this is the case of Chang Beer, one of the most successful beer brands in the Asian market.
ASIAN COUNTRY BRANDING
Asia', the brand will take a hit if ever world events cause 'Asia' to take on a negative connotation. Next up are some unique Singaporean experiences – the “Teh Tarik” experience, the Singapore Loop, Jurong Bird Park waterfall and spa treatments. The reason for this large-scale media attack was quite simple - the party in power did excellent business during its four-year mandate and was preparing for early elections.
Lower interest rates on education loans.” The message was that young children could continue their education because the interest on the education had been significantly reduced. It was the NDA's undoing to have chosen the smallest group - the urban middle class - as its key audience.
CELEBRITY BRANDING IN ASIA
Instead, by signing up for the most famous golfer in the world, and the leading sports personality, who plays for one of the. Using a celebrity to endorse a brand provides one such channel for the brand to associate itself with the unique identity and personality of the celebrity. As an actor, the celebrity becomes part of the brand story with an implicit endorsement.
This model measures the degree of transfer of meaning between the brand and the celebrity on the one hand, and the attractiveness (and credibility) of the celebrity on the other. At 7ft 5ins, Yao is one of the tallest players in NBA history.
10 steps to celebrity endorsements
Continuous Monitoring: Companies should continuously monitor the conduct, behavior and public image of the endorser to minimize any potential negative publicity. One of the most effective ways to do this is to ensure that celebrity endorsement contracts are effectively drafted, keeping in mind any such negative events. Companies should ensure that this does not happen by wording advertising collateral and other communications.
Therefore, companies should back up celebrity endorsements with various communication activities to gain greater effect for the brand. Branding and legal contracts: Companies must ensure that they hire the celebrities on proper legal terms so that they do not endorse competitors' products in the same product category, thereby creating confusion in the minds of the consumers.
ASIAN BRAND STRATEGY
Brand essence: the heart and soul of the brand – usually stated in two or three words. It acts as an internal anchor in the company and illustrates the core of the brand and its meaning. These metrics capture how the brand is perceived in the customer mindset (awareness, feelings and perceptions).
Preference metrics help a company assess brand equity in terms of market metrics. This is an indicator of a brand's ability to retain and, more importantly, attract new customers.
SUCCESSFUL ASIAN BRAND CASES
Despite the individual character of the boardrooms of the companies featured in this chapter, they share one common theme that is also one of the strongest reasons for their success: their brand commitment. These boardrooms strongly believe in the importance of branding and brands, the ability to create value from brand strategies, and the criticality of managing brand processes at the boardroom level, led by the CEO and management of the company. Another common characteristic of the brands described in this chapter is their strategy of using the brand as one of the key strategic pillars from the very beginning.
This is in stark contrast to the usual Asian bottom-up approach to marketing and branding. The difference in beliefs, style, strategies and results between the two types of boardrooms clearly indicates that a leadership-led approach to branding is a key success factor.
Singapore Airlines – an excellent Asian brand
Innovation, the best technology, true quality and excellent customer service would become the main drivers of the brand. While other airlines have also pursued service/high quality brand strategies, none have been able to match Singapore Airlines in consistency, dedication and true brand penetration in every respect. Singapore Airlines has been able to deliver some of the best results in the industry by avoiding this kind of reactionary behavior.
Maintaining the latest generation of aircraft gives SIA some of the lowest fuel costs in the industry. Singapore Airlines' strong brand equity is one of the most valuable assets to the company and its cash-rich balance sheet.
Amanresorts – the unbranded brand
The management team led by Adrian Zecha has ensured continuous investment in all aspects of the brand to ensure consistent delivery of the Amanresorts brand promise. Amanresorts was born out of Adrian Zech's intense disdain for the corporatization of the hotel and resort industry. Amanresorts has become one of the iconic brands of the global hospitality industry.
It offers its visitors a holistic holiday experience by combining luxury with the unique heritage and culture of the resort location. Management sent a clear signal to the organization and the local community that Amanresorts valued their contribution to the overall success of the company.
Shiseido – the Asian cosmetic giant
Shiseido is one of the few Japanese non-tech brands that has achieved a major position in the global fashion, beauty and cosmetics scene. But in the recent past, one of the main reasons for its success has been a well-managed brand management practice. Shiseido has also developed a brand architecture system in line with its desire to serve multiple market segments.
It becomes meaningful as Shiseido in the US and Europe has acquired brands with their own heritage and unique brand stories. Although Shiseido has been successful in pursuing its acquisition strategy, it has yet to build a strong corporate brand in the US and European markets.
Samsung – the Asian global brand
For the past five decades, Sony has been the undisputed brand leader in the consumer electronics industry worldwide. By practicing the brand strategy based on these five pillars, Samsung has been successful in repositioning its brand in the global market. With an excellent combination of technology, people and atmosphere, Samsung has succeeded in creating a positive image with American customers.
Although Samsung has done all the right things, it will indeed be a challenge to continue to maintain the consistency in the future. As Samsung has tried hard to position itself as a premium lifestyle brand globally, many of the businesses in the Samsung portfolio do not match this positioning.
ASPIRING ASIAN BRAND CASES
Jim Thompson sought to revive this failing Thai silk industry and the result was the establishment of the Jim Thompson Thai Silk Company in 1951. Jim Thompson built a brand story surrounding the founder, his origins, his contributions to the Thai silk industry and his possibly mysterious disappearance. By exploiting this connection, Jim Thompson was able to blend into the social fabric of the country.
Jim Thompson's myth about his founder and his brand is very popular in Asia among retail customers. Jim Thompson's brand value in Asia is largely linked to the myth of the company's founder.
Li Ning – anything is possible
The other important factor that has contributed to Li Ning's success is its value proposition. In its TV commercial, Li Ning has projected national pride, patriotism and made in China quite strongly. By doing this, Li Ning plans to gain international exposure and wider acceptance of the brand.
Li Ning has not been able to create a strong brand personality for its products as successfully as Nike or Adidas. Li Ning has enjoyed success by combining several crucial factors that immediately proved to be a competitive advantage.
Jet Airways – a powerful Indian brand
Jet Airways' entire business and brand strategy is based on this underlying mission. To complete the service experience, Jet Airways has been proactive in ensuring friendly and responsive customer service on the ground. This allowed Jet Airways to build strong brand equity without going through the usual and expensive advertising route.
By building a successful brand, Jet Airways has achieved tremendous success in the last 10 years of its existence. Despite all the success Jet Airways has enjoyed, the coming years will bring some unique challenges.