

CNC report from New York
Added On December 26, 2011
STORY HIGHLIGHTS
Chinese commodities are being exported to almost every corner of the world but a lot of consumers are not familiar with any particular Chinese brands.
However, an expert says such a situation will gradually change in the near future.
According to him, Chinese brands will become much more visible and broadly known around the world.
Don Sexton, Professor of marketing at Columbia University,says the brand is the most valuable asset for a company. And Chinese companies have great potential and opportunity to make their brands more valuable.
SOUNDBITE (ENGLISH) DON SEXTON, PROFESSOR OF MARKETING, COLUMBIA UNIV. :
"For a company like Procter and Gamble, the value of their brands is maybe 80 percent of the company. My guess is that for Chinese companies it's lower than that. And the reason why I guess that is because on the list of the 100 most valuable brands, unfortunately, there are no Chinese brands. There are also no Indian brands, by the way. But there are three Korean brands. It seems to me there is tremendous opportunity for Chinese brands to develop their brands and that's why I made that comment because I see them starting to do this."
As marketing is one of the most important factors in business operation, especially at a time of globalization, the expert puts more emphasis on how to use branding strategies successfully.
SOUNDBITE (ENGLISH) DON SEXTON, PROFESSOR OF MARKETING, COLUMBIA UNIV. :
"First I have to say, it's not just how much you spend on marketing, it's how you spend it. There are some things that Chinese companies can certainly do. One of them is to be very clear about the position and to be very consistent about their communications."
Sexton also says trading with multiple economies under different cultural background is considered as both opportunity and challenge.
The professor expresses strong confidence in the future of Chinese companies, based on the tremendous market value they have created during the past decades.
He says, if China adopts appropriate business strategies, the world will see a soaring development of Chinese local brands in the upcoming years.
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Comments (1)
If a Chinese local brand really want to become a global brand, they don't need to be Chinese brand. The value of Chinese brand in global market is not high at this time. Dave (Brand Consultant, friend of Don)
4 months ago