NEW YORK, July 31, 2013 /PRNewswire/ -- On July 17, 2013, the opening of the Global Brand Summit and China's Best Global Brands Awards Ceremony, which was jointly organized by China's leading financial newspaper The 21st Century Business Herald and the China Brand Research Center of Zhongshan University, under the guidance of the Shenzhen International Chamber of Commerce, took place at the Westin Hotel, Nanshan Zone, Shenzhen, Guangdong Province. The Summit developed into several in-depth discussions on own-brand value growth under global capital operations, China brand image overseas building, Chinese food enterprises' internationalization, and China brand globalization resources expansion, among other topics. In the meantime, Shenzhen CCPIT, Shenzhen Association for Brand Promotion, and PR Newswire actively got involved with full support.
Zhile Wang, a researcher at CAITEC and director of NATC, and Chuyang Wang, a commercial consul at the Australian Consulate General in Guangzhou, along with corporate executives from GEELY, SHUANGHUI, TCL, FOSUN and more, and scholars from the University of Manitoba, Copenhagen University, Tsinghua University, and Zhongshan University, debated the topic of "From Participating to Leading: Global Brand Images and Chinese Best Practices". All discussions went through keynote speeches and special dialogues, ending up with thorough analysis.
"What we hope to see is that Chinese enterprises will be able to accommodate and absorb global talents; what we want to feel is that Chinese enterprises manage to make progress in international administration; and moreover, what we desire to witness is that Chinese enterprises finally achieve resources coordination and integration," said Dongyang Chen, CEO of Guangdong 21st Century Media Co. Ltd.
Nowadays, with global economy struggling and advanced economies fluctuating, it is essential for Chinese enterprises "going out" to figure out how to transform "production" and "capital" advantages into "brand" core competences, which relates to whether Chinese enterprises can seize the strategic position within the world's industrial chain, whether the Chinese economy can successfully achieve the transformation and upgrading with steady growth, and also tests Chinese enterprises' balancing arts between development and transformation.
Adapting to economic opportunities, strengthening Chinese global brands
"One big challenge that Chinese enterprises will face is whether they can shift from inward globalization to outward globalization. Namely, they must step out into the world. Only after fulfilling this goal can Chinese enterprises' value chain be transformed and upgraded, thus becoming bigger, stronger and longer. Meanwhile, they need to free themselves from ideological shackles, broadening visions and industrial thoughts from national to global," Zhile Wang said. "If any enterprises break away from concepts of state, region, ethnicity, religion or language in culture construction, they ensure the initiative in global competition. Since every enterprise owns its special culture, the corporate culture recognized and accepted universally forms only if enterprises respect, tolerate, understand and learn from each other."
"Story-telling" China brands entering the world
Haizhong Wang, a professor, leading specialist and director of the China Brand Center at Zhongshan University, believes that Chinese enterprises should tell their stories to the world, which on one hand requires showing shortages, especially in resources, and on the other hand displays strength and tenacity. "A combination of innovative and entrepreneurial spirit describes the advantage of Chinese enterprises. It asks for perceptual stories instead of pure data or official news." Markets, consumers, governments and media overseas all can be attached to these stories, which also help to deal with complications. Notably, establishing brand growth archives facilitates true facts recording and live experience for customers and stakeholders.
Single car brand with production of less than 2 million facing difficulties adapting to future competition
"The car industry has very strong brand-bearing capacity. At present, car enterprises establish their brands while globally allocating resources and obtaining talents, channels and markets. Since the car industry has created an economy of scale, it is difficult for a single car brand with production levels of less than 2 million units to survive future competition. Therefore, we must adhere to the road of globalization to make the car industry much bigger and stronger. It includes producing, selling, serving and branding overseas, through processes of which local demands must be taken into consideration, and adaptive transformation needs to be done," said Xueliang Yang, PR and Brand Director of Geely Holding Group.
As for how to realize globalization, Xueliang Yang recommends high quality production, market segmentation and local partnerships. For instance, Geely set up a joint venture plant in Egypt that might be able to sell 3 million cars this year. However, China and other developing countries make up the main market of Geely. It still needs improving technologies and products to enter the market of developed counties.
China food brands require national policy support: Shuanghui executives face current food industry situations for the first time
"First of all, product quality and food safety controls must be addressed if the food business is to 'go out.' Then it can make full use of scale effects, attract more customers with high-qualified products, and thus increase market share gradually," said Jintao Liu, spokesman for Shuanghui Goup and president assistant of Shuanghui Investment and Development Co. Ltd. "China's food industry is labor-intensive and lacks reference on brand's international image building. Consequently, national policies should be introduced to promote China's food business, through cultivating and inspiring big-sized food enterprises to step out from behind the national border and get involved in global market competition." He also pointed out that the changing food industry situation proceeds with three aspects: fair news supervision, proper response to media reports, and full use of media platforms at home and abroad.
Brand experience power construction becoming enterprises' priority
"When it comes to building brand experience power, we should pay attention to the five senses, which means seeing, hearing, touching, smelling, and finally forming word-of-mouth effects," stated by Qichun Liang, assistant present of TCL Corporation and manager of the band management center. "Brands have to be tangible to enable consumers to feel every aspect of changes on them. Especially, when brands contact with consumers, it creates resonance as where they are and where they go." He testified his speech with the experience of fourth quarter of TCL 2013 "The Colorful Life" brand experience building.
Only 9 companies qualifying as real international enterprises all over the world
Ping Li, a tenured professor and doctoral tutor at the Copenhagen Business School, thought that every single company that has been globalized could find it difficult to develop their business in countries of differing developmental level while doing quite better in their respective motherlands. For example, it may be easy for China to enter the African and Southeast Asian markets; however, the biggest challenges are the European and American markets. By contrast, developed countries find their way all through the European and American markets while stuck in developing countries. Obviously, there is a huge gap between them. As for an authentic international enterprise, reaching more than 20% market share in the three most developed districts of the world is a basic requirement. Accordingly, Only 9 companies across the globe can qualify as real international enterprises.
How to establish images overseas for Chinese enterprises?
Except for enterprise strength, there are operating and managing attractions, culture values, social responsibilities, appealing forces and Chinese culture specialties for Chinese enterprises to go out and develop in the globe. In addition, professionals who will take care of brands' technical processing such as communicating with media and dealing with brand crisis are also needed when enterprises enter the global market. Each participant in this summit reached a consensus on the above statements.
At the end of this summit, the "Best Global Brands in China" winner's list was announced, including eight companies: Fosun Group, Geely Automobile, Tsingtao Brewery, Bank of China, Baidu, China International Marine Containers Group, TCL and Midea. More and more enterprises in China have developed their markets overseas, from manufacturing to high technology, services and capital. They successfully exhibit the charm of Chinese brands to global consumers. Relying on operating and managing attractions, culture values, social responsibilities, and appealing forces, with Chinese culture specialties added, China brands have already earned their places in the world market. Gradually, they will not stop growing and developing.
"Best Global Brands in China" Award Lists
- Fosun Group (Fosun Group)
- Geely Automobile (Zhejiang Geely Holding Group Co., LTD.)
- Tsingtao Brewery (Tsingtao Brewery Co., LTD.)
- Bank of China (Bank of China Co.,Ltd.)
- Baidu (Baidu)
- CIMC (China International Marine Containers Group Ltd.)
- Midea (Midea Group)
- TCL (TCL Corporation)
About Global Brand Summit
The Global Brand Summit was jointly launched by The 21st Century Business Herald and the China Brand Research Center at Zhongshan University. Its main jobs are to refine best experience, to summarize and sublimate unique modes, and to gain insight into future trends of Chinese brands creating world-famous brands. Overall, this summit's mission aims at boosting a large number of world-renowned Chinese brands.
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SOURCE 21st Century Business Herald