FWD officials receive the Asia Insurance Award for its impressive marketing campaigns last year. — VNS Photo FWD Vietnam Insurance Company has won the "Marketing Initiative of the Year" award at the 2018 Asia Insurance Awards. This is the first such award for a life insurance company in Viet Nam, the company said. The Asian Insurance Awards are given by Insurance Asia magazine to honour the best strategies and campaigns in the industry across Asia. More than 100 senior executives from 30 companies and 15 countries attended the awards ceremony. "We are very honoured to receive this prestigious award," Vuong My Phung, deputy general director of marketing & brand strategy, FWD Vietnam, said. “This is another proof of our vision for changing the way people feel about insurance. With the message ‘Get ready to live – Song day tu hom nay’, FWD has brought a new, innovative and different image of life insurance to Vietnamese; it is still protection but more … [Read more...] about FWD wins marketing honours at Asia Insurance Awards
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Many Korean beauty brands are looking to expand their operations to tap into the fast-growing Vietnamese market. Korean companies see fresh demand in Vietnamese beauty market Dominic OH, general director of Korea International Exhibition Centre, said that, Vietnam is becoming an attractive destination for Korean beauty companies. “In 2017, around 100 Korean companies visited Vietnam to explore the market. This year, a delegation of 150 Korean companies continues to showcase products and services in the Mekong Beauty Show from June 14 to 16 in Ho Chi Minh City,” he noted. According to OH, the Korean beauty industry continues to be among the most important drivers of the beauty event as they are looking for potential distributors and retailers to penetrate the lucrative market. Nguyen Van Minh, vice chairman of the Vietnam Essential Oils, Aromatherapy and Cosmetics Association, said that Vietnam is an emerging market for beauty and personal care products with an … [Read more...] about Korean companies keen on Vietnamese beauty market
Dragged down by the three-year divorce proceedings between the main owners, Vietnam’s famous coffee brand Trung Nguyen not only seems farther away from its dream of dominating the global coffee market, but is also at risk of falling from grace on the domestic market. Rising competitors and more strict competition Trung Nguyen's coffee shops number less than half of Highlands' shops Along with Vinacafé and Nestlé, the Vietnamese coffee market welcomed a range of new brands, including Highlands, The Coffee House, and Starbucks. zing.vn stated that currently the number of Trung Nguyen coffee shops is 60, less than half the number of Highlands stores (150). Furthermore, new coffee brand The Coffee House raised its stores to 80 and has started exporting coffee bought from Cau Dat Farm. Additionally, the domestic market also saw the entry of a brand that was previously entirely alien to coffee—NutiFood. In 2017, NutiFood announced pouring VND1 trillion ($44 … [Read more...] about Trung Nguyen brand is threatened from domestic competition
VietNamNet Bridge - Some Vietnamese businesses are trying to make domestic brands better known internationally through franchise contracts. If they can find partners, they will be able to accomplish their goals more quickly. Vietnamese franchisers are trying to market brands to the world RedSun ITI, the company which owns Thai Express, Khao Lao and King BBQ, has officially brought its Truly Viet restaurant chain to Australia. All kinds of Vietnamese products, from food to healthcare services, could reach the world through franchising. Vietnamese products and materials could be exported at values much higher than raw exports. However, the number of Vietnamese franchisers remains very modest. According to the Ministry of Industry and Trade, only a few brands are franchised, such as Pho 24, Cafe Bobby Brewers, T&T and Iced blended. RELATED NEWS Franchise market still promises great opportunities Foreign giants step up franchising efforts in Vietnam Chi Mai … [Read more...] about Vietnamese franchisers market brands to the world
Companies in Vietnam have experienced fierce competition over the last few years, both qualitative and quantitative. Many have been forced to close down while others are still in business but struggling to move forward. The question is how to make a brand not only sustainable but also grow in value in the context of fierce global competition and rapid digitalization. There are many approaches to answering this question. Here I note the three key driving forces for brands: digital transformation, globalization, and brand leadership. In my observation, these forces help grow a company’s brand value if implemented successfully. Customer-centric digital transformation Unlike in the past, customers now have many brand choices for a particular product in Vietnam. Let’s take bakery goods for example. Customers would have previously mentioned Kinh Do in the south or Hai Ha in the north, but today they may name a long list of bakery brands: Top Cake, Tous Les Jours, ABC, … [Read more...] about How best to maintain brand value?