Upbeat

No. 02.04.13 No. 2104 10.30.2008

Pinoy brands seen to go global

Filipino brands are seen to become global in the next few years. While no Filipino brand ever made it to the worlds 100 most valuable brand list, some local firms can cut this void in a decade or less if they summon their resources and commitment, Interbrand Executive Director for Brand Strategy Jonathan Bernstein said. Filipino brands like Jollibee, Bench, San Miguel Corporation (SMC), and Banco de Oro (BDO) can be strong contenders, Bernstein added. Other contenders include established names like the Philippine Long Distance Telephone Company (PLDT) and Philippine Airlines (PAL) and newer ones, like Cebu Pacific Air (CEB). To make it to the list, the brands revenue has to come from three different continents and the company has to be publicly listed, he noted.

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Bernstein pointed out three things: Jollibee and BDO need to generate more business abroad; PAL has massive potential because of the brand heritage, but they need to define what they want to be, work closely with tourism authorities to improve the image of the Philippines, and deliver an experience based on who they are; and CEBs value proposition is very strong, but they have no cohesive brand strategy yet in place. Local companies feel that if they have good advertising, they have a good brand. But its just the external aspect, he pointed out. Whats more important is to build internal value, create programs to help employees understand the value of the company and the brand, and enable them to connect the brand to the business. Echoing this, in September last year, Potato Corner, Goto-King, Lay-Bare, and AquaBest were some of the Filipino enterprises that established their brand identities on foreign ground. When Potato Corner put up its first kiosk in the United States (U.S.), many doubted its viability in a major potato producing country; but in a short period, it has put up eight outlets in the U.S. Lay-Bare has also established its presence in the U.S.; Goto king has set up shop in the United Arab Emirates, and Aquabest in Saipan. The cited homegrown entrepreneurs have proven that Filipino brands can successfully compete in foreign markets.