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Is been said that companies need be 'consistently inconsistent' to win in Asia. Based on Grey Global Group's latest Eye on Asia research, Chris Beaumont, the company's chief strategy officer/Asia Pacific, identified five key factors that are essential for creating and building brands that connect with the region's consumers. Together they work in tandem to increase marketing ROI for business. |
| 1. Value(s) Creation: Brands are moving quickly from a focus on functional excellence and style to a focus on more culturally relevant meanings. New brand ideas will emerge increasingly from the cultures of Asia, in fact, possibly more so than from any corner of the world, to shape the dynamic Global Culture within which we all participate. We are all in the business of creating cultural brands. |
| At another level, every branded product and service provides a perceived value. Too often, the word value means cheap. It should mean satisfaction. Marketing value should not be synonymous with price promotions. But marketing will have to be more skillful to produce better results from slimmer margins and budgets. |
| 2. InfoLust: By enabling unparalleled access to information, technology is already changing consumer expectations, bringing more transparency and accountability to society. In the era of choice, there is lust to know the best price, the quickest card, the healthiest option ?immediately. "How do I make the right decision?" The power that marketing departments typically had in terms of being able to manage customer expectations will disappear. Marketers need to feed the thirst for knowledge and to use information wisely. |
| Information, knowledge and communication are the very heart and sinew of the newly emerging post-industrial societies of Asia. The focus of all such societies is always on those areas and activities which produce new wealth. Here, the idea is king. In this sense, we can hypothesise that, with web 2.0 communities, we will see innovation overload as the natural extension of information overload. |
| 3. Being Brand: Successful brands must be based on a point of view their owners care about deeply and be backed by the delivery of a powerful product experience. The marketing imperative is to understand and improve the consumer to product connection. Brands which focus on this connection, like Apple, see the consumer experience at the centre of their innovation process and are leaders as a result. |
| 4. Operational Efficiency and Innovation: As a first step for meaningful innovation, brand building needs to be recognised as a key success factor in both business strategy and operational excellence. To win this recognition, marketers need to accept the increasing use of metrics and ROI focus for marketing initiatives; to quote John Quelch at Harvard, " Today's boards want CMO's who can speak the language of productivity and ROI and are willing to be held accountable. Today's boards don't need CMO's who have creative flair but no financial discipline. They need ambidextrous marketers who offer both." |
| Consumer research and dialogue has only one critical objective: to improve marketing decisions. In Asia's new commercial environment, marketing will, through technology, move more toward being a science. However, as in music, modern technology gives the composer a greater degree of control and allows creativity to flourish. Successful marketers will need to utilise consumer research to uncover the art in science. |
| 5. Segmentation: While we consider massclusivity, so we need to think of the 'long tail'; there are riches in those niches. We also need to think in a different manner about how people communicate and absorb messages; communications architecture will become more important for all brands as we better understand the interplay between the type of content that is appropriate for the specific context or medium that's being used. |
| The nature of the communications model has moved on. It's not about the 'new media' but rather how to employ new marketing principles recognising that the old marketing communications paradigm of interruption will no longer suffice. Marketers must think differently about the ''F''-word: Fragmentation. |
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5 SUCCESS FACTORS TO BUILDING BRANDS IN ASIA
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Re: 5 SUCCESS FACTORS TO BUILDING BRANDS IN ASIA
Very interesting.
There is an inevitable trend is towards the unpacking of human behaviour around consumption. Undoubtably, many marketers and advertisers have at least a good intuitive understanding of this, if not a pseudo-scientific toolkit of effective techniques. There are University courses on Marketing and astute marketers have probably always had a sound understanding of practical psychology. But as someone who has never really had a good feeling about marketing and advertising, I wonder about the ethical basis of such manipulative endeavours. I don't dispute the role of advertising in providing essential market information and in being the basis of fair competition, but in many cases these days it's hard to maintain that the constant stimulation of human desire by inflationary advertising is good for the humanity or the planet. Maybe the best thing that could happen in the advancing science of marketing is the development of an understanding of its social and environmental impacts as well as an acknowledgement of the importance of individual consent. |
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According to Wikipedia a perceptron is a type of artificial neural network. Ergo a “Perceptric” is a person who creates or uses a neural network. The Perceptric Blog is where Chris Gilbey posts thoughts, ideas, and links intended to stimulate thought and accelerate the transfer of ideas. Chris is available for consulting work with the premise that it is not technologies that are disruptive so much as the people that use them. The Perceptric mission is to help companies and people reach their goals and exceed their expectations. This will often mean offering counterintuitive conclusions. Our view? The shortest distance between two points is not necessarily a straight line. It's the number of people needed to be present in a human network to influence and deliver positive decision making. Login
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