SMEs urged to give priority attention to branding

Small and medium scale enterprises (SMEs) have been asked to focus priority attention on branding – to give them the needed edge in the increasingly competitive market.

Mr. Eric Affiadu, Chief Executive Officer (CEO) of Premier Brands Ghana, a local branding company, said it was important they made deliberate effort to develop an effective brand strategy.

He indicated that it was the road they needed to travel to survive the intense competition.

He was speaking at a day’s seminar held in Kumasi to expose businesses to branding techniques, aid them to appreciate the relations between good branding and business growth, market opportunities and branding value chain.

“Inspiring the informal sector to get it right” was the theme chosen for the programme, jointly by the Association of Small Scale Industries (ASSI) in partnership with Premier Brands.

Mr. Affiadu pointed out that good branding and packaging constituted about 60 per cent of the business strategies needed to thrive.

Businesses, which applied these stood better chance of capturing larger share of the market, he said.

He made reference to multi-national companies like Toyota, Coca-Cola and Samsung and said they were making it big because they had over the years used this strategy to their advantage.

Mr. Affaidu said it was high time SMEs put more value on packaging, logo, color and other things that would bring out the uniqueness of their products.

“They form the basis in business – telling prospective customers of a company’s identity, credibility, vision and mission.

Mr. Kwame Buor, Ashanti Regional Chairman of ASSI, encouraged SMEs to stick to best business practices to promote their growth.

Source: GNA