Strong brands raise Malaysia's economic profile

BUILDING IMAGE: Leading names help country exhibit credentials to global business community

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MALAYSIA has clear objectives to develop its economy and build world-beating businesses.

A stable macro-economic and political base has provided a platform for
Malaysian brands, as the country has emerged strongly from the recent
financial crisis, ready to expand across the world.

Brands
contribute to building the economic profile of their home countries in
several ways: as well as generating income directly, they raise the
profile of a country, promote its abilities in goods and services, and
enable it to exhibit its credentials at the cutting edge of business
practice.

Strong brands capture and project these values to
immediate consumers and wider opinion-formers in the government and the
media.

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For example, the recent purchase of Battersea Power
Station in London by a consortium led by SP Setia Bhd and Sime Darby
Bhd has raised Malaysia's profile and international image.

The fact that Malaysian brands have had the vision to take on such a
challenging project has impressed London's business community and built
value in brand Malaysia.

Other leading Malaysian brands are
developing the country's brand image in a number of ways - by
illustrating their brands' relevance to cutting-edge consumer trends,
developing differentiation and authenticity, and innovative use of new
marketing media.

Relevance is one of Interbrand's key brand
strength factors - is the brand's positioning aligned with the needs of
its consumers?

Consumer needs are continually evolving, and companies need to be nimble to adapt their brand portfolios and stay current.

AirAsia is one Malaysian brand that has shown this ability. Despite
battling increasing fuel rates, the airline has been able to
consistently provide low-cost travel to the region. In 2011, they added
21 new routes, providing more consumers around the region the ability
to travel further.

The airline has also shown a commitment to
quality standards that consumers have come to expect, winning
Skytrack's world's best low-cost airline from 2009 to 2011.

Investment in brand touchpoints is a vital part of consumer
satisfaction, and AirAsia's investment in new planes and options for
Malaysian food and entertainment shows an understanding of the complete
consumer experience.

Being responsive to consumer trends is
also an integral necessity for any brand and is an area that F&N
has been able to achieve.

Despite being founded 128 years ago,
the company has responded to consumer's growing demand for healthier
products with its "Pure enjoyment, Pure Goodness" message in a 2011
campaign, launching 100Plus in Thailand to increase the sports drink's
range.

F&N's continued investment in refreshing the image
of its products has allowed the company to weather the years and remain
an important player in the beverage industry.

Another important
factor is authenticity. Consumers expect brands to be true to who they
are, and this sense of identity can be drawn from a brand's home
origins.

Authenticity needs to be felt as much as claimed. For
instance, OldTown White Coffee offers consumers a taste of a special
brew of white coffee created in a Malaysian coffee shop that embodies
the relaxed, friendly and sincere side of Malaysian culture.

Contemporary brands also need to be aware of the need to use digital
media. Consumers expect brands to be responsive to their enquiries -
and are quick to voice their opinions if they are not. Not only this
means that the distinction between online and offline branding is
disappearing, it also indicates that the distinction between national
and international brands has vanished.

This is both a challenge
and an opportunity. Malaysian brands now have an equal platform to
promote themselves to the world through Facebook, Linked-in, Twitter
and their own websites.

CIMB is one brand that has excelled in
this area, boasting one million Facebook fans and has an online channel
for feedback and complaints via Twitter.

Its digital efforts
have been recognised by the industry, having been awarded the Best
Social Media Engagement in Asia, Africa and the Gulf by The Asian Bank.
It was also named the Best Internet Bank in Malaysia by the Global
Finance Magazine in 2011.

Brands can help build Malaysia's
economic and profile by developing relevant, differentiated and
authentic experiences that can appeal to consumers across the world.

By looking at who they are and basing their brands on a truth derived
from local experiences, brands can provide a showcase of Malaysia's
unique skills and culture.

Robert Allen is an associate director, brand strategy, of Interbrand Singapore