Promoting branding of exports to UK

12:36 | 02/10/2016 Trade

(VEN) - The Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade will continue working with relevant agencies to organize more practical support activities, including accelerating goods brand introduction in the UK, aimed at increasing trade between Vietnam and the UK.

Promoting branding of exports to UK

Vietnam’s Trade Representative in the UK Nguyen Thi Hong Thuy

According to Vietnam’s Trade Representative in the UK Nguyen Thi Hong Thuy, the bilateral trade ties have been growing well for years, with that in 2015 doubled 2010’s, and the figure of 2016 is expected to reach more than 4.4 billion pounds. However, bilateral trade accounted for only 0.5 percent of the UK’s foreign trade. The UK has a very developed foreign trade, and imported more than it exported in trade in consumer goods with many other markets. This is a good opportunity for Vietnam to increase exports to this market.

Long geographical distance leading to high transport cost and complicated visa procedures are something that makes businesses hesitate to develop sales of farm produce, textiles and footwear to the UK, though these products are of very good quality.

VIETRADE Deputy Director Do Kim Lang said: A number of Vietnamese businesses exported goods to the UK, but they mostly exported products that they outsourced according to the order of importers. If Vietnamese businesses do a good job of brand advertising in the UK, they can add value to their products and increase sales to this market, he said.

Having brands known in a foreign market is compared to having access to that market. Making brands known in the UK in particular and foreign markets in general is not easy at all because it is costly and advertising will be ineffective if businesses fail to have an appropriate market orientation and approach strategy.

The Ministry of Industry and Trade will have many practical activities to support businesses to advertise brands not only in the UK but also other foreign markets. Through the national trademark development program, the Ministry of Industry and Trade will open courses of training in marketing and market trends, as well as fairs and exhibitions abroad. Domestic and foreign experts in addition to state assistance will help businesses minimize costs. However, businesses need take the initiative in connecting with partners and invest properly in market research and introducing products through the media.

With experience in branding and introducing brands for many businesses, including world leading groups in the UK, J. Walter Thompson Vietnam Director Saby Mishra said, communications is a good means of brand promotion in the UK. Surveys showed that, TV, radio, newspapers, telephone are the big choice of UK consumers. Thus, they could be effective advertising channels for businesses. Market segment and consumer age are what businesses should think of when choosing a communication method to avoid wasting time and money.

For small and medium-sized enterprises with limited financial resources, Anei Bedi from Partner M&C Saatchi recommended: Businesses should negotiate with leading retailers and supermarket chain owners to have products displayed in their systems on a trial basis. However, an appropriate communication strategy is essential to make products widely known.

 

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