A new benchmark in branding

Wednesday, 03 February 2010 08:13

TOUTED as the only authority on brand equity measurement in Malaysia and stewarded by the country’s Most Valuable Brands (MMVB) board of governors, the Putra Brand Awards is here.

Initiated by the Association of Accredited Advertising Agents Malaysia (4As), the recognition and brand valuation exercise is an extension of MMVB and recognises brands of public-listed companies, local brands and small-medium enterprises (SMEs).

“A brand award is for all – no brand should be left out especially our local brands and SMEs,” said 4As president, Datuk Vincent Lee (pix), at the launch of the awards recently.

The awards are the result of a strategic partnership with Malaysia External Trade Development Corporation (Matrade), PULSE, Malaysian Advertisers Association (MAA), Media Specialists Association (MSA) and Branding Association of Malaysia (BAM).

While MMVB measures best brands by financial valuation, the Putra Brand Awards measures best brands by consumer preferences.

The inaugural annual award, to be held on March 12, promises accountability, credibility, sincerity and is expected to “stabilise the industry” which has seen many disruptive brand awards given out by people “who have no idea what branding is all about”.

“There are some brand awards requiring the contesting companies to pay up to RM20,000 in order to win the award. This is not right,” said Lee, who added that it is important to have transparency in brand awards.

He said the Putra Brand Awards would not involve any form of payment from contestants, unlike some other brand awards organised by certain parties.

Matrade chief executive officer Datuk Noharuddin Nordin, who was also at the launch, said local companies need to have a better understanding of branding in order to enhance their competitiveness in the global market.

“Branding is not just spending money on advertisements, even though it is a component of brand building,” he said.

He also said that branding is about delivering a positive overall experience and service to target consumers.

He also said Malaysian brands had achieved success at the international level but have yet to reach the level of global brands.

As the awards are measured based on consumer preferences, a robust and unbiased consumer research polling system developed by Pulse Group, called “brand-pulse”, was used to determine and provide a score to each brand.

A total of 6,000 consumers were involved in the research process in the selection of the award winners, making it the largest consumer research sampling of its kind nationwide, covering both East and West Malaysia.

Based on 18 Nielsen advertising expenditure (adex) categories, 10 brand owners comprising five local brands and five international brands are identified and shortlisted by the brand council chaired by BBDO/Proximity Malaysia group chief executive Jennifer Chan.

The shortlisted brand owners will then have to submit a written submission based on pre-determined criteria on their brand’s health, which will be reviewed, approved and endorsed by the MMVB board of governors.

The 18 categories will each have a gold, silver and bronze winner.

 

Source: The Sun