Guo said companies need to focus on building a strong brand image and value proposition in addition to product features and pricing to thrive in a competitive market.
In the digital age, consumers have access to a plethora of information, making brand value a decisive factor influencing purchase decisions.
“A brand embodies a company’s core values, mission, culture, and customer relationships,” Guo said. “Through advertising, marketing, packaging design, and actual user experience, a brand conveys the spirit and value a company wants to express.”
He further notes that “distinctive brand image, value, and culture differentiate products from competitors in the same segment. Brands that are innovative, trendy, and sustainability-focused often have an edge.”
Chicilon Media’s elevator digital media is a popular choice among businesses for brand promotion. Photo courtesy of Chicilon Media |
Chicilon Media, a digital elevator media company, is witnessing this trend firsthand as an increasing number of businesses leverage their platform for brand building.
Building customer trust is another key factor in driving word-of-mouth marketing.
Chicilon Media CEO highlights that consumers rely heavily on personal experiences when making repeat purchases.
Brand loyalty not only boosts sales but also optimizes marketing costs through positive online reviews and recommendations, reaching potential customers effectively.
To achieve this, Guo recommends a two-pronged approach.
First, businesses need a clear marketing and promotion strategy. Building a brand is not just the responsibility of the marketing team but a core business strategy.
“Product details, user reviews, and a company’s commitment to social responsibility all affect brand image and reputation,” Guo said. “Companies need to constantly invest in their brand story, values, and user experience to stand out and gain market share.”
Secondly, brands need to bridge the gap between the company and the consumer. A unique brand identity fosters customer loyalty, leading to sustainable competitive advantage and market dominance in a crowded marketplace.
Finally, the CEO said, brand success is not solely measured by increased sales but also by the recognition and trust consumers have in that product.
This focus on brand building underscores a growing trend in Vietnam and beyond, where companies are recognizing the power of a strong brand in capturing market share and achieving long-term success.
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