A little focus on branding could do a miracle at the economic front as it would not only change an ordinary product into special one but also attract the buyers. This was upshot of the speeches delivered at a Workshop on "Branding Pakistan" organised by the LCCI Standing Committee on National Outreach Program.
LCCI President Sohail Lashari, Vice President Kashif Anwar, Director General Walled City of Lahore Authority Kamran Lashari, former LCCI Vice Presidents Shafqat Saeed Piracha, Saeeda Nazar and Executive Committee members also spoke on the occasion. The very objective of the Workshop was to educate the participants about the importance of development.
Speaking on the occasion, the LCCI President Sohail Lashari said 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 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 branding is key to success; it not only increases sales at local levels but also earns much needed foreign exchange by winning due place in the global market. He said 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.
He said we, in Pakistan, are already lagging far behind in the war of brands. He said there is an urgent need to hold such activities on a larger scale to guide business people to equally focus on establishing a brand name as much as they pay attention to their products and their quality aspects.
Lashari said in Pakistan we produce many household goods and merchandise, especially the textile products that are marketed by the foreign companies with their own brand names. He said while living in a modern commercialised world, we should market and sell our products by our own brand names, because a brand name becomes synonym to particular quality and traits that we produce.
He said we have seen nations like USA, Germany, UK, Japan, France and Korea, etc, which are widely respected in terms of acquiring consumers' confidence because of the quality of their branded products. He said it is indeed a matter of great pride for Pakistan that in FIFA World Cup 2014, the footballs were imported from Forward Sports (Pvt) Ltd, Sialkot. He said it is surprising that we have huge potential to prove our worth in international market but there are very few examples set by us. It is a pity that we have yet to make 'Made in Pakistan' a term credible enough to achieve global consumer trust.
Director General Walled City of Lahore Authority Kamran Lashari briefed the participants about the various initiatives of the government for revival of culture. He said Punjab government is taking all possible steps for the promotion of tourism in the province that has the potential to give considerable boost to economic activities. He said every nook and corner of Pakistan is worth-seeing provided we glorify it in a way that the foreign tourists would come to see our civilisation which is, no doubt, our pride. This would also help improve the soft image of Pakistan world over.
LCCI Vice President Kashif Anwar said Sony, Samsung, Microsoft, McDonalds, KFC, Nokia, Mercedes, Toyota, Honda and scores of others are the famous brands which give recognition not only to these branded products but also to their respective countries. We can follow their footsteps and try to attain a better rank. For that matter, we need to make up our minds and put in our best efforts.
He said that we have to find best possible ways to achieve good results in minimum time. Speaking on the occasion, Chairman Standing Committee Awais Saeed Piracha said the Lahore Chamber of Commerce and 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 and 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 like textile, 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.