Branding is key to success

Someone said it right. To compete against Chinese products is not possible on price alone. And to have low prices is no longterm strategy, as there is always someone who will be able to produce at a lower price than you.

Giant Manufacturing Co, a bicycle manufacturer in Taiwan realised this correctly and he said that the only way to survive as a company is through branding. Starting off 18 years as an OEM producer for several other brands, he realised that the creation of an own brand is important after several of his clients switch to another manufacturer. According to international brand consultancy firm Interbrand, Giant has a brand value of US$210 million and ranked as the sixth most valuable brand in the country last year, after Trend Micro, ASUS, Acer, Master Kong and MAXXIS.

How can you measure the success of branding? Well, one could relate to the story mentioned in the news - The Chairman King Liu visited one of his outlet in Shanghai and "a customer told me that Giant bicycles are the most commonly stolen bikes. Her son has lost seven Giant bikes, yet he still wants a Giant."

Now that is something!