13th Asia Brand Award Ceremony held in Hong Kong wherein awards for reputed brands of the companies in Asian Countries were given. President, Indian Industries Association Mr. Sunil Vaish was invited as a Special Guest for the ceremony to deliver keynote address in the inaugural function on “Creating a New Era of Brand Value”.
On the recommendation of IIA, five Indian Companies are given Asia Brand Awards in the ceremony. These companies are M/s Mohani Tea Leaves Pvt. Ltd., M/s Trinity Tapes (P) Ltd., M/s Exhicon Impex, Mumbai, M/s Sainik Enterprises and Ms/ God Gift International.
In his keynote address, President IIA said that Asia is the fastest growing economic region in the World, as well as the largest continental economy. China, Japan, and India are currently the top three economies in Asia. India is the only trillion- dollar economy to rank among the top five fastest growing economies in the world today. In the Reserve Bank of India Report released on 29th August 2018, the Indian economy will register 7.4 % growth during the current year which is expected to go up to 7.8 % next year. In such a World and Continental scenario, the Asia Brand Award Ceremony acquires a significant and important place.
He also emphasized that over the years, there has been a significant shift in the source of value creation — from tangible assets (such as property, plant, equipment, and inventory) to intangible assets (such as brands, stakeholder relationships, IP, skilled employees, corporate culture, etc). “Intangible assets such as brands don’t show up on the balance sheets. However, it is hard fact that brands and related intangible assets make up a large part of the value of many successful companies all over the world today. In the consumer / retail space, brands are often the company’s most valuable assets and sources of their sustainable competitive advantage. Customers are the new market-makers, reshaping industries and changing how businesses compete and win. Great brands are built on great customer experiences.” Mr. Vaish also said, “A brand, therefore, is very important for a company and manufacturer. It can provide a good position and value for a manufacturer.”
Online shopping is becoming popular now a day than ever before. In online shopping, the customer expects brands to simplify the user journey as much as possible, while at the same time delivering the powerful brand moments that surprise and excite/delight them.
It is, therefore, necessary that in online shopping/e-commerce the business goals and the customer/user goals are required to be brought nearer while creating a brand value.