Rising brand awareness key to enterprises' growth

Raising brand awareness has become increasingly significant for Chinese enterprises going global and developing the domestic market, as a brand is no longer confined to an enterprise's name but is an essential element related to its core competitiveness and can lead to broader acceptance in a bigger market context, industry experts and business leaders said.

"Reputation comes naturally from real distinction. There are many factors leading to successes achieved by the 2022 Beijing Winter Olympic Games, among which, branding is a major one to be noticed," Ye Kangtao, dean of the School of Business at Renmin University of China, said during a recent event in Beijing.

"Also, reputation stands for attention. With the Games already enjoying worldwide fame, China managed to seize the opportunity with its sufficient preparation, and utilize the Games to attract more attention from across the globe and then promote China as a brand," Ye said.

The remarks were delivered at an event themed "Winter Olympics Economy and Brand Management".It was attended by members of the Management Alumni Association of Renmin University of China and the Hong Kong Polytechnic University.

"Brands reflect not only enterprises' core competitiveness, but also that of the nation where they belong to," said Wang Yong, chairman of the TopBrand Union, a Chinese brand consultancy, during the event.

"To shape the new image of Chinese brands and build a new order of global brands, China's leading brand consultancy firms are striving to build a communication bridge for brands through international activities and research. This is also one reason why I started Top-Brand Union at the very beginning," Wang said.

Yao Rongjun, founder of Qiao-Dong Strategy, another Chinese brand promoter, said international communication not only brings brands with bigger reputations, but a reciprocal effect to boost their domestic development.

"Brands can play a bigger role in helping international interactions develop by making full use of China's international status. They should build brands and create a vibe conducive to building brands altogether, to stride from 'Made in China' to 'Created in China'", Yao said.

"Differentiation is the core engine for the growth of Chinese companies, and it is thus important to figure out and amplify their unique values, making them more welcome among consumers," he added.

To this end, TopBrand Union will keep inviting foreign guests and leaders to local events while organizing visits abroad for domestic companies to facilitate international exchanges, Wang from TopBrand Union said.

TopBrand Union has started the research and release of the World's Top 500 Brands list this year, and will further ramp up efforts to build itself into a world-leading consultancy providing more comprehensive evaluation and strategic consulting, the consultancy said.

Chinese Brands Festival, a star event held by TopBrand Union, has become a valuable platform for global brands to analyze trends, share information and integrate resources.