Local firms aim for trademark popularisation

Business players from home and abroad converged at the 2013 Shape the World conference in Ho Chi Minh City on August 15 to consider how to promote Vietnamese trademarks to the world. 

Co-hosted by the Vietnam Chamber of Commerce and Industry, Singapore’s Consulus Group and Nhip cau doanh nghiep (Bridge for business) magazine under the Ministry of Industry and Trade, this year’s event was themed “What is Vietnam’s brand of leadership?”. 

Participants talked about steps to address their difficulties, ranging from workforce management, business models and trading risk control to promotion of Vietnamese trademarks in global markets. 

According to statistics, over 95% of domestic firms are unaware that branding can result in a strong competitive advantage in the business arena. More than 70% of local companies do not have staff specialising in brand strategy or public relations, and 50% have yet to hire relevant professional services. 

Consulus Chief Executive Officer Lawrence Chong said in order to achieve the goal, there should be stronger coordination among businesses, management agencies and industry insiders. 

He also recommended firms pay attention to customer psychology and demand in target markets, product quality and selling prices, brand recognition, public relations and business consultancy services in localities.