I attended the Local Business Development Forum at the Grand Hall of Empire Hotel and Country Club on the 18th November 2010.
The links to the slides were given to the participants, and since it was made available on the AsiaIncForum Website, I assumed it would be OK for me to upload it to scribd and embed it into SMEbrunei. Unfortunately, the presentation on Branding by Dr. Wilson Chew was not made available. I’ll go through my notes and share them.
Dr Wilson Chew’s presentation on how branding is not just applicable to big corporations, but can also be done by Micro and SME’s. Considering that all big corporations started from SME’s themselves. He further pointed out in rebuttal of a previous discussion on Public Private Partnership is not essential, it only matters that SME’s “Just Move”. His presentation on branding reminded me of a book entitled Origin of the Brand. His 10 Rules of Branding were:
- Perception is Reality – Brands are only in people’s minds, and often in terms of those brands logo. and most people remember brand logos very well.
- The power of being the first – People remember the first president, the first man on the moon, but rarely remember those that came after thme.
- Create a new category – So if you are not the first, you can become the first in a new category. People will remember Barack Obama as the first Black President (should I say coloured?)
- Narrow you Focus – Specialization by sacrificing vestigial or unnecessary products will help in focusing your main successful product. E.g. Nokia was originally in almost every electronic equipment, but they prospered when they focused on Mobile Phones.
- Differentiate your Brand- Make your Brand different from others out there. Show off what makes it unique or better than the competitors.
- Build your brand with PR – PR or Public Relations or Advertisers help SME’s profit by building awareness of the brand.
- The power of a great name – brand names should be short, unique, memorable, easy o pronounce and English sounding.
- Be absolutely Consistent – do not stray into other categories, as Mercedes had once ventured from luxury cars and into commercial transport (Busess, Trucks, etc) their reputation never really recovered.
- You need an Archenemy – Cocal Cola has Pepsi, Adidas Has Nike. Competition between the 1st and 2nd often create free publicity through discussion and debates.
- Sometimes you need a 2nd brand – if you are to venture into other categories, create another brand. Toyota tried and failed getting into the Luxury Car segment, but they succeeded when they created another brand in Lexus.
The Brunei Economy by Doctor Roger
MNCs or SMEs: Perspective from Singapore by Professor Tan Kim Song, Singapore Management University