It is dawn of a new era. It is the time when brands are a major contributor as shapers of organizations’ destinies. Brands of the Year Awards embarked on a great eventful journey in 2007 and since then have become leader of the leaders. 2007---09 were years of significant efforts when corporate sector of this country first time witnessed this grand effort of brand’s performance recognition. It was all designed to disseminate our vision in developing brands role as a responsive dynamic entities, caring citizens and contributing to a healthy diversified society. It is all because of steep increase in importance of branding phenomenon which is overpowering all the aspects of marketing, selling, revenue generation and making the study of consumer behavior first and the foremost concern for all brands and businesses.


The ideas of globalization, Global village and phenomenal increase in consumers interaction through internet has made it obvious that the future is promising only for those brands who will continue to address the consumer requirements and decide to innovate in technology applications. In this prevailing scenario brands are behaving beyond boundaries. Importance of physical borders is narrowing down every day. This is the time of Brand equity development. Organizations are continually reviewing what they provide and how they provide it to try and add more value. Given ongoing changes in the competitive environment with new competitors, new demands and new technologies adding value is a dynamic process. It is now the responsibility of all the departments and all those who are the owners of any brand to see that how they can ensure this dynamic process taking its due place in their organizations.

With the sharp increase in brands goodwill, Brand equity and brand’s access on global level it becomes an strategic task of the business community and the government of Pakistan to design a comprehensive strategy to help develop the brand equity of Pakistani brands and how to combat the over powering of global brands in Pakistani markets. Otherwise someday not very much far away all consumer products factories operating in Pakistan will cease the operations under pressure of imported low cost products. Office and school stationary and toys industries have already succumbed to this situation.

Emerging global industrial economies of China, Europe and USA are not heavy industrial complexes based economies but science, technology and innovation based knowledge economies striving for global dominance in future world.


It goes without saying that we are so much lagging behind in this race of economic development that it would be rational to think only of practical level Pakistani brands development. Building a brand which will last through rollercoaster economic thick and thin is one of the most difficult things corporate organizations are faced with. Because brand is not just a quality product, excellent customer service, with ample funds to advertise.  Even a very successful company may not be known as a brand. A brand’s qualities can be physical and are also perceived characteristics. It is the perception or value in the mind of consumer that is what brand equity is all about. For a brand to propel itself into the consumer’s world, it should reflect several basic traits. It must take on a personality of its own and exhibit qualities of trust, sincerity, authenticity, staying power, mass appeal, uniqueness, good value for money and it must have some meaning of importance to its consumers. All of these qualities are the mark of an excellent brand.

Glimpses from History

In winter 2006, Brands of the Year Awards were launched and this maiden activity was a phenomenal success.  Out of hundred around 25 percent brands were multinational brands of global repute, whereas in total 70 percent brands were from the FMCG sector.

Highlights:

1. FMCG sector is constantly on the rise since 2007.
2. Durable sector at present seems to be in its stationary phase.
3. Services sector is increasing very fast which indicates consumer’s shift in consumption pattern and the shift in economic indicators.
4. Exponential increase in print and electronic media is noted which indicates that the sector which is most critical of every organization’s performance has also recognized the importance of this activity and willing to have the tag of Brand of the Year Award and to have this feather in their cap as an authentic appreciation of their performance over last four years.
5. With the increased awareness regarding consumer’s brands and cut throat competition in the market numbers of FMCG brands have increased in 2010 contest, whereas the overall number of winners remains the same as of 2009.
   

History often repeats itself. This adage could not be truer than the current observation when we review the list of winners since 2007. There are thirty two brands which have outperformed all other brands in their respective categories by winning the status of most wanted brands in three out of four contests or continuously winning all four contests of Brands of the Year Awards. These Brands are

“Pepsi Cola, Pakistan State Oil, Siemens, Soya Supreme, Jang, The News, Jamal’s Yellow pages, Pak Fireworks, Pakola, Berger Paints, Trekker Direct Private Limited, Premier Cables, Karwan-Al-Madina, Pakistan Cables, Vectracom, Waves Deep freezers, Ashrafi Brands Atta, Hanif Rajput catering services, Noorpur butter, Rooh Afza syrup, Young’s Spread and Mayonnaise, Millat Fan, Total Parco, Peak Freans Sooper, Standard Chartered Bank, Pizza Hut, TCS Courier services, Pantene shampoo, Bata shoes, Elfy adhesive, Habib Oil, EFU Insurance, K&N Chicken “.

Brands Award Council of Brands of the year Awards expresses its heartfelt congratulations to brand leaders of this great group of outshining brands and appreciate their never ending efforts in making their brands a premium and priority product for their consumers. In the situation of present economic uncertainty every established brand is faced with the risk of falling behind in the competition if it does not embrace change. Successful brands are fluid and adapt to changing marketplace dynamics. Brands that have not been able to stay relevant to their consumers need to change from the inside out. This process starts with true commitment from the top management, continues with a success story for the brand that is lived by everyone in the company, and culminates in the development of products and services that deliver on the brand promise, and are focused on the customer experience.

“Staying relevant for their consumers require brands to embrace change and make it a priority at every level of the organization, starting with a commitment from the top management”.

Today’s digital world and brand equity development

Brand Managers in some cases are now turning into Brand Hosts, facilitating a conversation about their brands. Those managers who are succeeding in this world have learned to listen. They’ve come to trust their consumer’s community. They’ve stopped their crafted communications and have started communicating honestly, directly and transparently. It’s amazing what can happen when brands actually listen to their loyal consumers! What can be done to protect the trust that brands invest so much to build, in an age when brands are more vulnerable than ever? In a world where the consumer is taking control over the conversation, the best way for brands to manage their equity is to facilitate the dialogue and allow the consumers to express their feelings. Ultimately, the more brands learn to listen, the more they will be able to understand what needs to be done to limit brand erosion. Brands should develop means to monitor the dialogue with and between consumers, evaluate the learning, be transparent and have courage to listen and have patience.

“Brands must learn to empower the consumer and turn them into Brand enthusiasts”

Designing the strength of future

The future holds many challenges for today’s leader brands, but the future opportunities outweigh the challenges and Leader of the leaders “Brands of the Year Awards” is committed to help you in defining that future. Management of Brands Awards has the vision and the courage to shape the future. “Brands of the Year Awards” is the first step in this direction. This event is designed to create greater exposure for both brands and those who are behind the brands. The management of “Brands of the Year Awards” has always prided itself on doing an enormous amount of work with limited resources. We are working to build on our assets and accomplishments to secure our ability to further our mission to strengthen the leadership of brands.
Good news for the readers of this report is that the efforts of this management have been appreciated at the highest level and first public company license in its area of activities under section 42 of Companies Ordinance, with the name of Brands Foundation has been awarded by SECP Pakistan. Our new website “Brandbook.com.pk” and all other media will be informing very shortly to our valuable clients about the forthcoming future oriented programs of Brands Foundation.
Last but not the least, a food for thought for our readers----How can we best prepare our brands for next generation and for global leadership? ----- Fortune favors the brave only.