Saturday, April 21 2012 18:03
Monopolization of economy in Armenia turns "brand" into useless instrument for Armenian businessmen
ArmInfo. Monopolization of economy in Armenia turns "brand" into a useless instrument for Armenian businessmen, Mariam Simonyan, Head of the Armenian Marketing Company M- INFO, told ArmInfo on sidelines of the Brands&Business conference in Yerevan, Saturday.
She said that the company's numerous surveys revealed that local businessmen still underestimate the advantages of branding. "They strive for big earnings being unready to invest at least few money in implementation of their goals," Simonyan said.
As for the perspectives of branding in Armenia, she said that no significant changes will be observed in the given sector within the nearest future. "To become relevant in the Armenian business, branding, probably, needs change of generation," the expert said. Provincial mentality of businessmen, she said, impedes branding in the country.
According to M-INFO's surveys, Armenian consumers still prefer foreign brands to the local ones. "It is very difficult to root our stereotypes that everything imported good," Simonyan said. To overcome that problem proved possible only for the local dairies. "They have managed to find their niche in the market due to their right business policy," she said.
Alexander Grand Chairman and Head of Strategy at INSTID London, in turn, made quire interesting speech at the event. At first, he explained definition of the word "brand" saying that it is not a logotype, not a business style, not a package of documents, and not a foreign history of a company. It is a collective way of thinking when a group of people unites around certain ideology. When creating a brand, he said, a company should give the potential consumers of its product a feeling of property. It is their energy that turns into a real profit for the company.
The founder of Mindscapes Company Jonathan Dominic, in turn, suggested replacing the traditional advertising with more innovative solutions i.e. to create a motive, occasion that will help forming demand for a product. He advised businessmen to start promoting products and services and choose a promotion policy that would make consumers remember also the brand. Such are the principles of brand promotion of the world famous companies Gillete in India and Heineken in Germany. The organizer of the Brands&Business conference is Maeutica Company.
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