Pakistani entrepreneurs should concentrate on branding as it not only transforms an ordinary product into special one but also removes all the ambiguities from the minds of the buyers thus a huge amount of foreign exchange could be earned by focusing on branding as Pakistani products are best of the best in the world.
This was the upshot of the seminar jointly organized by the Lahore Chamber of Commerce and Industry and the Trade Development Authority of Pakistan here at the LCCI on Monday. LCCI Senior Vice President Ijaz A Mumtaz, Dr Khawaja Amjad Saeed, Director TDAP Mrs Yasmeen Qureshi, Mr Amer Siddique, Mr Asad Zahoor and Secretary General LCCI Mohammad Yaseen spoke on the occasion and gave their view point on prevailing branding trends in Pakistan.
The LCCI Senior Vice President Ijaz A Mumtaz said that private sector would have to workout a methodology to promote branding culture in Pakistan to wear off the intensity of economic meltdown being observed by the leading economies of the world. The very objective of the seminar was to educate the participants about the importance of creating a unique brand identity for Pakistani Brands.
The LCCI Senior Vice President said that nevertheless Pakistan has all resources in abundance and quality-wise its goods are 'best of the best' in the entire world but it has so far failed to get its share in the world market only because of poor branding. He said that branding is the tool that not only gives boost to its exports but also adds value to the products.
He said that in the developed world the general consumer gives preference to the branded products. He said that branding is key to success it not only increases sales at local levels but earns much needed foreign exchange by winning due place in the global market.
He said that the value of the brand is determined by the amount of premium it generates for the product and the manufacturer. This is the outcome of a combination of increased sales and increased price. Increased sale and increased profit as such multiplies the profit of an enterprise.
Speaking on the occasion, the LCCI Secretary General Mohammad Yaseen said that the Lahore Chamber Commerce & Industry would continue to conduct such seminars to update its members on latest techniques of marketing through various activities so that they could enhance their productivity & profitability and contribute towards the economic growth of Pakistan. He also stressed the need for development of brand mechanism on scientific lines. He said Pakistani products such as textiles, leather, surgical and exports goods have no parallel in the entire world but very little branded products which have won consumers' confidence locally and globally.
Lahore Chamber of Commerce and Industry
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