Lahore, January 24, 2013 (PPI-OT): Pakistani products enjoy quality-edge when they are compared with products of other countries but are falling short of getting a respectable place in the global market only because of lack of awareness about their branding and marketing.
This was upshot of the speeches and presentations made at a seminar on Brand Power arranged by LCCI Standing Committee on Education here on Thursday. LCCI Senior Vice President Irfan Iqbal Sheikh was the Chief Guest while Vice President Mian Abuzar Shad, Convener Standing Committee on Education Abrar Ahmad, Deputy Registrar of Copyrights Imtiaz Ali, Co-Convener of the LCCI Standing Committee on Education Umer Saleem, Muneeb Dilshad, Beenish Pervaiz, Fauad Bajwa and Rana Sajjad also spoke on the occasion.
The main objective of the seminar was to educate the participants about the importance of creating a unique brand identity for Pakistani products.
The speakers threw light on various aspects of brand development. They were of the view that a little attention toward this area could do miracles as Pakistani merchandise are best of the best in world in quality terms.
There was a consensus that a brand is essentially a promise of value to customers. Building a strong brand leads to awareness, recognition and trust in the product or service provided, which in turn generates increased leads and sales.
They said that branding is especially important in export business as it is the one consistent message every potential customer sees and having strong company and product branding can make all the difference between failure and success.
Therefore, Pakistani entrepreneurs should concentrate on branding as it not only transforms an ordinary product into special one but also removes all the ambiguities from the minds of the buyers thus a huge amount of foreign exchange could be earned by focusing on branding of Pakistani products.
The LCCI Senior Vice President Irfan Iqbal Sheikh said that private sector would have to evolve a strategy to promote branding culture in Pakistan.
LCCI Senior Vice President said that nevertheless Pakistan has all the resources in abundance and quality-wise its also goods compared to other countries of the world but it has so far failed to get its due share in the world market only because of poor branding.
He said that branding is the tool that not only gives boost to its exports but also adds value to the products. He said that in the developed world, the general consumer gives preference to the branded products.
He said that branding is key to success, it not only increases sales at local levels but earns much needed foreign exchange by winning due place in the global market. He said that the value of the brand is determined by the amount of premium it generates for the product and the manufacturer. This is the outcome of a combination of increased sales and increased price.
The LCCI Vice President Mian Abuzar Shad that the Lahore Chamber Commerce and Industry would continue to conduct such seminars to update its members on latest techniques of marketing through various activities so that they could enhance their productivity and profitability and contribute towards the economic growth of Pakistan.
The LCCI Vice President also stressed the need for development of brand mechanism on scientific lines. He said Pakistani products such as textiles, leather, surgical and exports goods are among the best and unparallel in the entire world but due to ineffective or little branding they are not getting the price it can get compared to the value it offers locally and globally.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854