Local firms urged to build brands

In a recent survey of some 500 domestic enterprises, only 16% had a marketing department and most local firms employed branding consulting services. This underlines the scant attention paid by local businesses to brand building.

In the local market, multinational companies, in addition to promoting their own brands, have started purchasing famous local brand names. Unilever’s purchase of P/S tooth paste can be seen as an example.

Vietnamese brands aren’t just ways of distinguishing Vietnamese products, they’re also valuable assets of local businesses which express consumer confidence in products. And the task of building national brands is becoming more important as local firms face increasingly stiff competition as the country integrates into the global economy.