BRANDING DRIVEN, DRIVEN BY BRANDING
Branding is the process of creating a unique brand experience for the consumers and at the same time, establishing a significant and differentiated presence in the market.It makes sense to understand that branding is not only about getting your prospects to choose you over the competition, but about getting them to see you as the ONLY ONE that provides solutions to their needs. Strong brands reside within the hearts and minds of customers and as the battle for consumers intensifies each day, brands need strong branding to help them maintain their turf.
Branding has become an important component for business and this applies to all businesses, especially SMEs that have to fight not only amongst SMEs but the big boys. SMEs need branding to stay ahead if they want their brands to have stronger leadership and positioning.
SMEs contribute significantly to a nation’s economic development. Successful countries have a pool of strong SMEs that help drive their economic engines. In Malaysia, this is no different. Malaysian SMEs contribution tothe country’s economic development is growing year on year. The second generation of SMEs are now bringing their fore-fathers business abroad and the new breed of SMEs entrepreneurs are using the latest Internet channels to grow their brands. All these augur well for the SMEs but there is still a long way to go for SMEs in terms of branding.
The BrandLaureate SMES BestBrands Awards 2014 is specially designed to reflect the theme of the Award – Branding Driven, Driven by Branding. The 24k gold plated trophy illustrates the growth of the SME and its route to success, driven by the principles of branding.
Aspiration – The ability to achieve the brand vision
Astute – A good brand strategy to enable you to meet your aspiration
Adroit – Be skilful and agile to manoeuvre challenges and seize on opportunities
Acuity – Sharpness to identify strengths and weakness of the brand, competitors and industry
Adaptable – Innovate and re-invent itself to meet consumers need
Awareness – Be visible and engage customers through their communication strategy
Altruistic– Give back and support the community it operates in
These 7 “A”s or attributes are important as it forms the very basic foundation of branding.
Brands must know what their ASPIRATIONS are, if not they will be moving blindly. They must also be ASTUTE and have an intelligent brand blueprint which details the roadmap that it will take to achieve its aspiration. It must be ADROIT to move fast to address the challenges of the day and seize the opportunities present and at the same time have the ACUITY to understand its strength and weakness and that of its competitors and industry.
Brands must be ADAPTABLE and innovative if they want to stay relevant and target different markets or cross borders as different ethnic groups and countries have different culture and expectations. Creating AWARENESS is important for brand visibility. Brands need a strong communication strategy to promote
and engage its customers, less they be forgotten. Lastly, brands must be ALTRUISTIC. While accumulating profits is important, consumers love brands that have a keen sense of social responsibility and give back to the community.
These 7 stems further branch up to form the base for The BrandLaureate SMEs BestBrands Awards emblem, a symbol of brand excellence for SMEs. The emblem which envelopes the globe signifies the success of the brand in having a global presence. The brand is now at the APEX and in leadership position, a culmination of the efforts put in branding the brand.
The Mark of Distinction
The SMEs BrandLaureate trophy is a symbol of brand supremacy and exudes dynamism and confidence. It is a mark of distinction and reserved only for the finest SMEs who have built their brands to be the best and contributed to the nation’s development through their brands.
Are you one of them?
Steps to Winning The BrandLaureate Award
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