On Friday, 21 February 2014, Consulus Myanmar country representative Mikael Knudsen, gave a talk on “Best Practices – International Branding & Marketing Strategies” at Consumer Trends, Marketing and Branding Strategies Seminar organised by the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and sponsored by Kelvin Chia Yangon Ltd.
The event attracted more than 250 businessmen and professionals from diverse industries and services. As Myanmar’s economy becomes more integrated with regional and global businesses, the local fast moving consumer goods (FMCG) industry has been developing rapidly. The seminar highlighted the importance of discussing issues related to consumer trends and branding strategies.
Mikael, who has over 30 years of diversified international experiences in Sales, Marketing, Production and Distribution of FMCG brands, shared with Myanmar companies that:
- Foreign companies are entering Myanmar with better business strategies and branding so local companies need to transform in terms of capabilities.
- Local companies need to make sense of their data to increase profit margins.
- A better brand experience and content management strategy will put them on par with international brands.
During the panel discussion with other speakers, including U Than Maung, Principal Legal Manager at Kelvin Chia Yangon Ltd; Daw Myo Myo Htike, Assistant Director, Department of Commerce and Consumer Affairs, Ministry of Commerce; Nay Htut Ko Ko, Research Manager, TNS Myanmar Co.,Ltd, Mikael emphasised that local companies can remain competitive through innovation despite intensifying competition from foreign competitors in the once-isolated Myanmar market.
According to Mikael, from the perspective of business operations, local brands can make budgeting decisions for branding & marketing campaigns by harnessing market insights and working with local management.
To read more information on Consulus’s projects and our shape the world experiences in Myanmar and region, please visit our website at www.consulus.co