Distinctive brands are more than mere identifiers of origin and source for a business. They have evolved to become living emotional relationships with the buying public. More importantly, you can derive revenue straight to the bottomline through franchising and licensing of your brand.
We Are Where The Action Is
The Asia-Pacific is one of the fast growing regions in the world. This phenomenal growth is fuelled, in no small measure, by the rapid globalisation of business and the increasing awareness and deployment of intellectual property (IP) strategies as engines for commercial and economic growth. For the modern business today, success no longer hinges on just its ability to manage physical assets but on how its IP is maximised for commercial gain.
For Singapore, what this means is that our businesses have to work even harder and smarter to stay competitive. More importantly, we would need to overcome the constraints of our small domestic market by increasingly venturing into overseas markets.
This is where a strong IP entrepreneurial culture among our businesses is essential and they will have to start with the right brand protection strategy. They will need to understand the terrain in new markets, develop brand identities that best connect with those markets and deploy protection strategies to secure their market share.
Why Branding Is Important
Distinctive brands are more than mere identifiers of origin and source for a business. They have evolved to become living emotional relationships with the buying public. More importantly, you can derive revenue straight to the bottomline through franchising and licensing of your brand.
For 2004, according to a report by International Enterprise (IE) Singapore, the top ten global brands accounted for over S$647 billion in value. In Singapore, the 15 most valuable brands are estimated to be worth S$8.1 billion in 2004 compared to S$7.9 billion in 2003 (source: IE Singapore). In 2005, the value of the 15 most valuable brands in Singapore is S$9.5 billion.
Rising Brand Values For Singapore Firms