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SINGAPORE: It used to be all about catchy taglines and colourful logos but with globalisation, branding and marketing are no longer straightforward tasks.
This was the point stressed home at an industry conference in Singapore on Wednesday.
And participants said that a successful brand must be backed up by solid values behind the product.
Take for example, the iconic Singapore Girl.
Such a good brand figure is the result of solid values behind the product and service and not just flashy logos without substance.
For Banyan Tree Holdings, which has built up a strong name for itself in the hospitality sector, it says product credibility is key to the success of its brand.
Ho Kwon Ping, Executive Chairman of Banyan Tree Holdings, said: "We have always considered branding to be very important to us but we've never felt that advertising or sleek logos can substitute for product credibility. We've always felt the fundamental success is the brand values."
Speaking at the same event, Education Minister Tharman Shanmugaratnam noted that it was also vital for countries to recognise the key role they play in the overall branding exercise.
He said: "German chemicals giant BASF set up a second R&D laboratory here, this time for organic electronics, as part of its plan to invest $30 million in R&D over the next three years. They are each statements of how Singapore keeps plugging itself into the world, and keeps trying to move up the value chain."
Singapore has won the prestigious United Nations Public Service Award for last year's Progress Package.
Such accolade - which points to good governance - can also help to enhance the country's branding. - CNA/ir
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