In­sights into sus­tain­able brand­ing

The Nation - - BIZ PERSONALITY -

● “To­day, con­sumers’ pref­er­ences are chang­ing very rapidly and al­most all members of the mid­dle class are in­ter­con­nected with the other side of the world via so­cial net­work­ing and the In­ter­net. The level of avail­able in­for­ma­tion and data for knowl­edge are in­creas­ing fast, and per­haps faster than in many neigh­bour­ing coun­tries. Though in the fu­ture, catch­ing up very fast will be Viet­nam and Myan­mar and these coun­tries have a com­pa­ra­ble pop­u­la­tion base. Thai­land still en­joys more dis­pos­able in­come per head and has a larger base of do­mes­tic con­sump­tion. This makes our coun­try at­trac­tive for for­eign brands in the FMCG seg­ment to compete.”

● “An ob­sta­cle faced by new en­trants is the sheer num­ber of brands fight­ing for mar­ket share in Thai­land's ‘Red Ocean’ mar­ket. Un­less you make an en­try with real in­no­va­tive prod­ucts, the com­pe­ti­tion will be very fierce in this seg­ment. Cre­at­ing brands will be a dif­fi­cult task for any new play­ers.”

● “Thai con­sumers are easy to con­nect with via all sorts of good strate­gies and me­dia chan­nels. They opt to try some­thing new for the most part. But for com­pa­nies to keep re­pur­chase lev­els up, and to be­come brands to be reck­oned with, re­quires a huge ef­fort on all the 4 Ps (prod­uct, price, place, and pro­mo­tion).”

● “En­gage­ment with con­sumers is the key to the sus­tain­able suc­cess of any brand. New brands have to work harder.”

Newspapers in English

Newspapers from Thailand

© PressReader. All rights reserved.