Vietnamese businesses need to invest in brand building on global media

Sunday, Jan 28, 2024 11:26

Speakers at the conference titled “Positioning the Vietnamese enterprise brand on international media” late last week. — VNA/VNS Photo

As Vietnamese firms continue to expand globally, it is important for them to invest in brand building on the global media stage to sustain their success, experts said.

Speaking at a conference titled “Positioning the Vietnamese enterprise brand on international media” late last week, Dr Hoàng Văn Nghĩa, director of the International Cooperation Department under the Hồ Chí Minh National Academy of Politics, said the global media landscape is incredibly diverse with various platforms for sharing news and information.

From digital outlets such as social media, websites, and blogs to traditional print and broadcast media, there are many opportunities for Vietnamese firms to convey their brand message to a global audience, he added.

Late President Hồ Chí Minh early recognised the power of international media in positioning Việt Nam on the global stage, according to Nghĩa.

Dr Nguyễn Công Dũng, editor-in-chief of the Communist Party Electronic Newspaper, stressed the importance of a powerful story in building a brand image, as well as trust, accountability and familiarity with consumers.

One of the key reasons for Vietnamese firms to invest in brand building on global media is to enhance their credibility and reputation.

By leveraging global media outlets, Vietnamese businesses can effectively communicate their values, innovation, and quality to a wider audience.

Ngô Sỹ Tuyên, chairman of the Vietnam Business Association in Malaysia and CEO of Sơn Kova (Malaysia), said it was vital to build and assert a brand through product quality and business reputation.

It’s also necessary to create engaging stories that showcase Việt Nam’s unique traditional culture and values, he added.

He recommended businesses create product ecosystems with an emphasis on a positive business environment, with good awareness of factors such as diplomacy and the local economy.

Mạc Tấn Minh, a Vietnamese American, CEO of Locamos company, said positioning and promoting the brand of global businesses are becoming increasingly important.

To make a business’s brand known internationally, the business must first position its product correctly. Only then can it communicate properly, he said.

He added it was essential to keep up with the global trend of healthy and safe consumption and urged businesses to start developing products and services that are resource-efficient.

Experts have, however, pointed out that investing in brand building on global media requires a strategic approach.

Building a successful brand requires large investments in product research and development, improving customer experience, strengthening quality management, and corporate culture, they noted.

This is especially important in large markets with strong regulations, many of which belong to major international trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU–Vietnam Free Trade Agreement (EVFTA).

In such markets, bringing high-quality products that are produced using environmentally-friendly methods is a key factor to success.

Experts recommended to stand out and compete effectively, Vietnamese firms proactively engage with global media to ensure that their brand is visible and memorable to global consumers.

By establishing a strong presence on global media channels, Vietnamese firms can attract the attention of potential international partners and investors, as well as explore new markets and business opportunities.

Vietnamese firms should also carefully consider which global media outlets are most relevant to their target audience and develop a tailored brand message that resonates with international consumers.

They should also prioritise building relationships with international journalists and influencers who can help promote their brand to a wider audience. — VNS

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