One of the good ways to understand the nation’s economic value proposition is to the largest top 10 corporation and value in the nation’s GDP or wealth generating capability. You can from there know whether it aligns with the future trends.
For example, a country that has multiple automotive corporations listed as top 10, how are they related to the coming next generation of the car industry we are expecting, we are referring to smart cars and electric vehicles that use battery power.
For a nation that a lot of the top corporations are real estate and property companies? What does that mean compared with the company that has the top 10 is based on high technology? Following the product life cycle (PLC), the more early stage, the value for the perceived risk is higher, where the brand, in particular a reputable brand did provide the value, where the market may be willing to pay a premium for it to offset the potential risk. But once the product is reaching maturity or commodity, brands alone that ask for the premium may not work anymore. This is why you notice Apple from being a monopoly and drop to become the number 4 smartphone player, and the rest all are Android smartphone producers.
Similar value curve shift you will notice from said generic household electronic items, said Television (just an example for illustrative purpose). We notice the global trend shift from the day for Sony TV, then to accept Samsung, or maybe LG TV, and now shift to made in China television.
In the economic recession time, most of the people will hold to spend, in particular for items that are not really essential to buy or change at the economic recession, it is a very common phenomena. Same as well as economic 101, shift from the consumption from the premium and high price to low cost and value similar products.
No enterprise can continue to milk from the existing branding if without any projecting on the new value inside to the market they do business, whether from both online to offline media. Brand itself is just one of the business marketing elements. It’s up to you how to mix it up so your business can use it to boost your brand for the various use cases, and make it stand out from the market.
In the modern world where everyone can communicate with the global reach, brand remains one of the important identities every company should carefully consider and avoid over brand extension and market the core customer base feel confused for what specific company their brand stands for. For example, if the brand stands for the airlines, does it make sense to use the same, across the sector and industry, to do food delivery, hotel and tours package, car rental, insurance, credit card and anything you can think of under one brand and one mobile application? It only the market can tell depends on the execution.
E-SPIN Group in the enterprise ICT solution supply, consultancy, project management, training and maintenance for corporation and government agencies did business across the region and via the channel. Feel free to contact E-SPIN for your project requirement and inquiry.
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