Small and Medium Enterprises (SMEs) can penetrate the market and compete with a number of large players in the industries if they have solid branding, said Datuk Dzulkifli Mahmud, Malaysia External Trade Development Corporation (MATRADE)’s Senior Director of Exporters Development Division as BERNAMA reported.
He added SMEs could also go on to become multi-national companies in the long run if they adopt the best strategy in the branding of their product and service.
Dzulkifli also elaborated that for the export sector to remain as the main source for economic growth, manufacturers must continuously search and develop new sources of competitive advantage.
Companies must capitalise on Malaysia’s reputation as a supplier of quality products and services.
“A brand reflects the perception, images, quality and trust regarding a product or service in the mind of the customers,” he emphasized during the seminar “Harvesting your brand’s full potential” organised by MATRADE in collaboration with MakkiMakki, a strategic branding consultant based in Indonesia, with the aim of looking at what made a brand tick and how to harvest its full potential for better returns.
Meanwhile, Sakti Makki, Managing Director and Co-founder of MakkiMakki group, said besides sharing its business knowledge with clients outside Indonesia, the event also provided the group the opportunity to bring their brands to the regional and international level.
“Brand and branding is a very powerful tool that businesses or companies can actually capitalise on to allow the business to exercise its full potential,” he said.