Building a Vietnamese brand to reach the world from unique values

Dr. Ho Xuan Huong, Ho Chi Minh City University of Economics, believes that to have a world-class brand, businesses must pay special attention to business orientation and goals and create unique values to demonstrate the core values of the business.

How do you evaluate the importance of creating unique values for businesses to build Vietnamese brands to develop sustainably and reach out to the world?

Brand is one of the extremely important assets for businesses. Building a strong brand contributes significantly to promoting economic development and affirming the national brand. Therefore, to develop sustainably, businesses need to focus on two issues: First, the quality of the products and services the business is providing; second, building a strong brand for the business.

In terms of brand building, we imagine how to assign a brand strength to the products and services of the business. Brand strength is measured by many different viewpoints, but basically, customer-based brand assets will include trust, customer satisfaction, and customer engagement with the brand. Therefore, when a business has a strong brand, it will promote customer engagement with the brand and will impact the results of current businesses.

Up to now, businesses often only focus on economic results, that is, the profits of the business. However, in the current context, to develop sustainably, businesses need to pay more attention to environmental and social results through brand building activities. From there, it can impact the results achieved later.

In the process of building a brand and being competitive in the world market, what barriers do businesses need to overcome, sir?

Through research, I found that to build a brand, there must be products and services. Products and services must ensure product quality standards. That is mandatory because businesses cannot build a strong brand while the quality of products or services is poor.

Based on surveys and interviews with a number of businesses, one of the reasons why businesses have not yet grasped the process of building a brand in a systematic way is that businesses do not just put up a logo, a slogan, or a symbolic signal to build a brand, but must have a vision for the brand. That belongs to the top leaders of the business, not to the employees. Based on those streams of views, from the brand promise, the brand difference, we build a brand identity. Therefore, the logo or symbol is just the surface, not the core value. In addition, how to implement that process and what resources to support are also very important factors for businesses, especially small and medium-sized businesses today.

On the other hand, for small and medium-sized businesses, building a brand is not easy. In general, Vietnam has more than 90% small and medium enterprises, so when building a national brand and reaching international standards, localities need to have support policies for both small enterprises, supporting industry enterprises and large enterprises.

This is also an issue that the Ho Chi Minh City People's Committee and the Ho Chi Minh City Business Association are very interested in to see what barriers businesses are facing and what needs to be done to be able to build a national and global brand.

Could you share more specifically about the policies to support businesses in building their brands in Ho Chi Minh City?

Ho Chi Minh City is implementing the project "Building a number of large enterprises with national and global brands". The project aims to focus on mechanisms and policies to support businesses to develop faster and stronger to develop large brands of national and global stature such as: finance, promotion, connection to build value chains...

Ho Chi Minh City's project also proposes breakthrough policies to build brands for large enterprises of national stature and some of global stature. Accordingly, the project proposes solutions for large enterprises that need policies to grow larger, small and medium enterprises that need policies to support them to grow.

In addition, Ho Chi Minh City is implementing many other projects such as the Department of Industry and Trade of Ho Chi Minh City building a project for Ho Chi Minh City to become a large logistics center, a large service center...

Thank you very much!

Source: Customs News