Page 19 - BrandZ Top 100 Most Valuable Chinese Brands 2015

Part1 | Introduction-Highlights HIGHLIGHTS | Take Aways
12 insights for building valuable brands in China
DEFINE CLEAR BRAND BUILDING PRACTICES
DEVELOP MEANINGFULLY DIFFERENT BRANDS
Chinese consumers now perceive many Chinese and multinational brands in China as almost comparable in the three BrandZTM aspects of brand equity, the consumer predisposition
to choose one brand over another. Consumers see Chinese brands as salient (coming quickly to mind) and meaningful (having affinity and meeting needs). But consumers see Chinese brands as less different (unique and trend setting). Chinese brands need to become more meaningfully different, which is the essential ingredient for increasing brand value.
INNOVATE AND CREATE
Brand China, the summary perception of Chinese brands, no longer suggests only inexpensive merchandise of questionable quality. Youth outside
of China already associate Chinese products with innovation. Chinese brands have an opportunity to combine their reputation for affordability with innovation and creativity, a competitive value-for-money proposition.
BUILD TRUST
Lack of consumer trust is a worldwide issue that cuts across categories.
The erosion of trust has stabilized in China. The rebound of trust is now up to brands. Chinese consumers place
high importance on trust. They want products made with quality and safe raw materials and concern for the environment. Brands that build and sustain trust will accrue an enduring competitive advantage.
ADVANCE THE CHINESE DREAM
The Chinese Dream is about building a more equitable and prosperous modern nation that draws strength and from its 5,000-year-old civilization. Chinese and multinationals can advance this dream
with products and services that help individuals live healthier and more comfortable lives. Serving the Chinese Dream strengthens a brand by linking its mission with national and individual aspirations. This is a high level mission that companies need to pursue holistically, aligning all departments – not only the marketing and brand teams – behind its fulfillment.
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TOP 100 Most Valuable Chinese Brands 2015
DIGITIZE BRAND BUILDING TOOLS
ANALYZE, STRATEGIZE AND EXECUTE – QUICKLY
As the key driver of China’s economy shifts from production to consumption, it’s not possible to succeed without understanding consumers in depth. Big data
and analytics will yield important insights that require rapid execution. And rapid is the operative word. In the west, analyze, strategize and execute describes a linear process. In China, these functions often happen simultaneously, and on the run.
DIGITIZE PRODUCTS AND SERVICES
Brands need to digitize their products and services. It’s a necessary step for meeting consumer expectations for product and service functionality and for effectively communicating with
consumers. Digitization crosses all categories, from the smart products in the home appliances and technology categories to the Internet finance products and services, which are found primarily in the banks, technology and the telecom provider categories.
ENGAGE CONSUMERS O2O
Seamless online-to-offline consumer experience is a prerequisite of brand success. Consumers are mobile, ecommerce is sophisticated, and Internet players are competing to
build the most useful ecosystems. Regardless of category – from alcohol to banking to retail – brands need to provide well-executed O2O programs that engage consumers conveniently and efficiently all the time.
ALIGN DIGITAL MEDIA WITH CHANGING CONSUMER HABITS
Chinese are watching mobile devices not just when they’re out and about, but also at home. Multiscreen users are online about eight hours a day. Two- thirds of that time is divided roughly
between smartphones and laptops. TV occupies about an hour-and-a-half. For the first time,
TV comprises less than 50 percent of media budgets. Internet makes up about one-third. Brands need to devise media plans that match where the consumer is paying attention.
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