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Brands are recognized to be the most valuable asset for any company. In the 1980’s the intangible elements (Goodwill) that made up the total market value of the FTSE 100 companies (London Stock Exchange) was an average of around 40%. Today, it is more than 70%. Today it can be demonstrated that the brand- whether in the corporate, service, product or not- for- profit sector- is any organization’s most important asset. It is estimated that one third of the world’s wealth can be accounted for by brands. Despite its elevated status in the global corporate world, Bangladeshi companies are yet to take the full benefits of the brand power. Brand management is holistic and need to be done by involving the whole organization in bringing the promise alive to the consumer, something which is not a very easy task. Most producers in Bangladesh are in unbranded, highly price sensitive, primary commodities which is a very risky business. Our market of sameness means everyone is offering almost the same product, communicating in almost the same manner, where customers don’t have any other criteria to choose from except price. This results in companies either offering reduced price to consumers or to the trade, both of which reduces the profit margin. A brand mindset always focuses on offering more value and not on price only. It is all about standing for something unique in the minds of the consumer. Branding is not an option that we might do, it is a necessity as we become a brand in the consumers mind whether we want it or not. Challenge is how we can own the desired space to reap the maximum benefit. Bangladesh Brand Forum is formed with the vision of aiding Bangladesh’s corporate world into creating remarkable world class brands. If Bangladesh wants to elevate its status from underdeveloped to developing and finally to a developed nation, the impetus must come from the business world. We need to develop the ability to look beyond ordinary, infuse creativity and excellence into all our thinking and action. Bangladesh Brand Forum will organize seminars each year to bring the best of the business minds from around the world and from Bangladesh. We have also started the Know How Exchange where anyone in Bangladesh can register for free and ask questions, seek advice or offer suggestion in any areas of branding and marketing. Aim of the forum is bringing the marketing minds together so that we can help each other to sharpen our thoughts and ideas. Please feel free to get back at us on how we can come up with some new initiatives or activities which will help you and your organization, and in the long run help all of us to build a Corporate Bangladesh where we are looked upon as a new model to learn from not frown upon.
Let the journey begin.
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