Brand - effective platform for business development

On June 21, the Trade Promotion Agency under the Ministry of Industry and Trade held a seminar on "Improving the competitiveness of enterprises through brand development". At the seminar, domestic and foreign experts discussed the trend of consumption and shared experiences, thus helping enterprises find suitable directions for brand development and raising competitiveness in the market. Traphaco, the winner of the Outstanding National Trademark Award of Vietnam was invited to share its experience at the event.

According to Mr. Do Kim Lang - Deputy Director of the Trade Promotion Agency - brand development is an urgent issue now, especially in the context that Vietnam is integrating deeply into the world economy. The brand has become an intangible asset to help many businesses confirm their position in the market. The national brand promotion program on the foreign market has begun to take effect. Some importers have learned about and cooperated with Vietnamese partners who win the Outstanding National Trademark Award of Vietnam.

Traphaco Joint Stock Company is a good example. After 5 years being recognized as a national brand, the company has achieved great growth: its revenue up by 18% and profit up by 20%. Traphaco is currently one of the 50 best listed companies on the stock exchange of Vietnam.

Ms. Dao Thuy Ha - Marketing Manager of Traphaco Joint Stock Company - said that the company always pursued the consistent direction of brand development and all activities were based on the needs of consumers. Especially, the company always caught up with the trend of smart consumption by bringing to the market products with better quality, better packaging, and environmentally friendly. The company also pioneered in the construction of sources of safe materials. This not only helped Traphaco in gaining initiative in production, but also created a movement to develop raw materials in the field of pharmaceuticals.

Ms. Dao Thuy Ha - Marketing Manager of Traphaco Joint Stock Company shares her experience on brand development

Thus, the brand is an effective platform for enterprises to develop and enhance competitiveness. However, Alain Chevalier, Senior Advisor for the Small and Medium Enterprise Support Program of the SECO project (Switzerland), warned that brand building and development is difficult due to the huge demand for human resources and finance, not to mention to the difficulty in controlling fake products.

Mr. Alain Chevalier - Senior Advisor Small and Medium Enterprise Support Program of the SECO Project (Switzerland) shared the experience of supporting the brand development.

Therefore, in order to develop sustainable brands, Vietnamese enterprises should seriously study consumer trends, product segments, and clearly define brand objectives. Brand registration and building must go through many stages, comply with many regulations. Businesses need to follow correctly these regulations and join business associations to get the protection from the authorities and to support each other.

“The essence of brand building is creating impression in the eyes of consumers, so it's important for enterprises to keep up with consumer trends as quick as possible," said Alain Chevalier.

Source: Industry and Trade Newspaper

Link: http://baocongthuong.com.vn/thuong-hieu-be-do-hieu-qua-cho-doanh-nghiep-phat-trien.html