...the brand

Brand Philippines

 

August 12, 2011

Manila Bulletin Editorial

MANILA, Philippines — The government is pursuing the development of “Brand Philippines” a program which aims to promote the Philippines as a producer and supplier of quality, value, and reliable world class products and services. The goal is an annual export growth of 16 percent and sales of $109.4 billion by 2016.

A brand name is a name, symbol, or other features that distinguishes a seller’s goods or services in the market place. Brands have been used since ancient times, with people burning singular designs onto the skin of their livestock to prove ownership and potters and silversmiths marking their wares with initials or other personal tags.

 

In the second half of the 19th century, branding evolved into an advanced marketing tool. Companies invest a lot of resources and millions of dollars in advertising every year to keep their brand names in front of the public.

There are today more than half a million brands registered with regulatory bodies in various countries, with numerous brands achieving legendary global status. A well chosen brand name can set a product of a business enterprise apart from those of competitors and communicate a message regarding the firm’s marketing position or corporate personality.

Experts say that successful branding is most likely when the product is easy to identify, provides the best value for the price, is widely available, and has strong enough demand. Branding is also recommended in situations where obtaining favorable display space or locations on store shelves will significantly influence sales.

 

Finally, a successful branding effort requires economies of scale, meaning that costs should decrease and profits should increase as more units of the product are made.

Shifting consumer priorities notwithstanding, the “Brand Philippines” program of the Philippine Development Plan 2011-2016 offers vast opportunities for the trade and tourism sectors to promote the Philippines as a conclusive investment haven now open for business.