2021 Suggestions on Re-sharpening the Competitive Edges of Hong Kong brands
Based on the findings of "Stduy on the Attitude towards Hong Kogng Brands and Purchasing Behaviour of Greater Bay Area Consumers", the BDC proposed the following measures to Re-sharpen the Competitive Edges of Hong Kong brands:
Suggstions to Hong Kong Brand Operators
| Brand Strategy |
- Hong Kong companies should accurately select target markets and determine entry priorities for their brands.
- To move from product-oriented to experience-oriented brand management approach to designing, managing, and coordinating all brand-building activities in a holistic manner.
- To take advantage of the associated brand attributes of “Hong Kong brands” to step up deployment in the mid-to-high-end market in Greater Bay Area.
- To redefine the promised value of brands.
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| Brand Management |
- To adopt a customised omni-channels strategy to promote brands and deliver enriched brand experience.
- Effective use and monitoring of omni-channels, better integration of online and offline promotional activities.
- Provision of more comprehensive service support.
- Smarter application of mobile devices and advertising.
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| Operational Tactics |
- Using the premium price capabilities of Hong Kong brands to flexibly set prices.
- Shifting the focus of brand promotion from advertisement and sales promotion to delivery of brand experience and desired lifestyle.
- Applying new retail techniques to enhance brand experience.
- Using big data meticulously to support operations and develop marketing mix strategies.
- Carefully selecting the store location to enter shopping malls.
- Handling marketing communication adroitly through more accurate deployment of promotional resources and effective use of live broadcasts.
- To continue to invest in customer relationships.
- To cultivate brand loyalty and develop brand communities.
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Suggestions to HKSAR Government
| Enhance the image of Hong Kong Brands |
- Launching social advertising and public relations activities tailored to the Greater Bay Area.
- Formulating special promotion plans for cities.
- Assisting selected industries to organise conferences and exhibitions for promoting Hong Kong brands and products in the regional market.
- The Government should also envision building a “Brand Greater Bay” and promote it as another iconic attribute of the region’s identity.
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