Building Brands- These firms have made it

Following the gradual ‘value shift’ in companies’ focus on labor-intensive production and manufacturing to improving their design, marketing and distribution efforts, and providing better service to their consumers, companies which had done the latter are taking a bigger slice out of the profit pie in the market.

Most of these firms which had not responded fast enough to this shift are however, with the exception of Japan and Korea, Asian firms. This could be due to Asia’s roots in manufacturing and hence low-margin profit. A general unwillingness to aspire to be brand-owners also deters the efforts of Asian firms. In addition, the managerial style of ‘top-down’ system of many Asian companies do not promote new ideas coming from the lower management levels of the company, which may be deemed useful for its branding purpose.

As much as these Asian firms want to ride on this shift, they face much difficulty, as branding is an ongoing process and change would not be fast.

Asian firms could learn more from its Western counterparts, examples of successful companies as follows:

Apple, stresses on a thorough customer end-to-end service experience- a step more than just being a service provider. This enabled it to create a unique branding and hence excel. Therefore, there is a need for Asian firms to learn on this attribute which Apple possess.

On the other hand, some firms improve on its reputation by taking over other brands to enhance its own. For example, Lenovo’s acquisition of IBM’s personal computer division, Tata Motors’ acquisition of British automotive icons Jaguar and Land Rover, and Geely’s recent take over of Swedish Volvo from Ford.
However, Samsung, an Asian firm, had successfully branded itself after having gone through a long process of research and development to find out its consumers’ needs and wants. This shows that with enough time and resources, Asian firms can actually learn from their Western counterparts to build powerful brands.

Singapore Reports on the Markets

Singapore market insights aims to bring you the latest business news in Singapore to help you achieve your dreams. The mind is a powerful weapon, with the latest information you can surpass your competitors to achieve what they are only dreaming of. The difference between being the number one and number two is great, as well as the profit difference when it comes to monetary conversions. The Singapore markets change every day, as the economy is booming. Along with it brings positive and negative changes that will affect the way you do business.

Take for example, the recent property market silence. Because of the latest cooling measures implemented by the government to favor first-time property owners and HDB owners, the government has made it harder for private home owners to own a HDB property as well. This impacted the property market greatly, and if you are in the property market as an agent or consumer, you would do well to read widely and regularly to be better advised in your situation.

Currently, the measures have suppressed the values of resale HDB flats, so enable them to be more affordable to first time home owners as HDBs are meant for Singaporeans to stay in and not speculate for gains.

These are the type of crucial information that you would be wise to educate yourself in. Not having this information would make you fall back in the race, you would lose out on your possible earnings as well as shoot yourself in the foot if you were looking to invest in a resale HDB now.  Stay tuned to market insights to bring you the latest news on Singapore sectors such as housing, services and products and almost any form of business in Singapore.