(Source: Hong Kong Brand Development Council)
3. The Way Forward
Yet, there is still a long way to go. We have to admit that Hong Kong is still lacking in a strong leadership as well as the critical mass for brand building.
A Glance at Hong Kong Brands
· Dominance by small and medium-sized brands
· Relatively high degree of internationalization
· Service brands engaged mainly in traditional industries like finance, real estate, retailing, catering, and tourism
· Product brands focus on light manufacturing industries
What Hong Kong Needs to Have as a Brands Hub
· To cultivate our own world-class brands.
· To develop a cluster of leading brands in strategic industries.
· To foster a brand-building culture with full participation of local small and medium-sized enterprises
· To install well-developed branding infrastructure, e.g. availability of brand managers, designers, market research houses, legal protection, etc.
· To seek the community support with the Government playing a more active role.
· To form high-level institution to provide leadership and coordination.
