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Customer emotional bonds key to brand success: Expert
Brand differentiation in the Vietnamese market will hinge on businesses’ ability to listen to and build emotional bonds with customers, says Sandip Rakhit, CEO of Grey Viet Nam, a marketing communications company. In a press release announcing the launch of the company’s fourth and latest "Eye on Asia" study, Rakhit said: "More than ever before, marketers need to understand people’s evolving attitudes and behaviours to get ready for new opportunities when the market rebounds."
The study found that Asians in general remained optimistic about the future despite growing uncertainties, but were also concerned about household finances and saving actively for their future.
Households headed by mothers "face new challenges and conflicts with their multiplicity of roles," it said.
Another key finding of the study, relevant for the retail sector, is that the recession has induced "new parsimonious shopping behaviors".
In order to identify "powerful underlying trends and human truths that will shape branding and communications now and in the future", the study interviewed 33,000 people across 16 countries and territories, employing both quantitive surveys and in-depth ethnographic interviews.
In Viet Nam, the detailed data and insights would be used by the company to "develop highly effective marketing and advertising strategies for its clients," the press release said.
It said the study was used not only for commercial advertising, but also for social marketing. "In Viet Nam, Grey may be the first international agency to fully embrace the specialised vocabulary, requirements and expectations of NGOs for social marketing projects."
The company used its 2007 Eye on Asia study to develop campaigns for Marie Stopes International Viet Nam "in successfully setting up government and private social franchise models for women’s reproductive health, namely Tinh Chi Em and Blue Star clinics."
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