While the global economy made only partial steps towards recovery in 2009, the companies on Interbrand’s 2010 Top Taiwan Brands table delivered impressive growth, regaining any footing lost from the 2009 rankings.
The specific industries driving this year’s growth in value were technology and food. Even as consumers have closely guarded their wallets, the continued growth of China and the gradual rise in income levels propelled the products of MasterKong, Want-Want and Uni-President into more homes. Meanwhile, although extravagant computer purchases were few and far between, the increased spending on netbooks and mobile phones have helped drive the fortunes of Acer, HTC and Asus.
A Global Opportunity
A brand value increase among the majority of the companies on the 2010 Top Taiwan table is good news, but Taiwanese brands interested in taking a place among Interbrand’s Best Global Brands still have a long way to go.
The 100th brand in the Interbrand’s Best Global Brands 2010 is Burberry, valued at US $3,110 billion, more than double Acer’s 2010 value of US $1.4 billion. Global brands also have significant reach, with a presence on at least three major continents, and brand geographic coverage in growing and emerging markets – something the top Taiwanese brands still need to focus on. While the opportunity is to become a best global brand undoubtedly exists (particularly for Taiwan’s tech brands) the challenges are great and will require Taiwanese brands' dedication and focus to overcome.
As Taiwanese tech brands continue to grow, it will be imperative that they understand what differentiates them versus competitors in the markets they target. Defining strong propositions will enable these brands to be more effective with their marketing dollars and ensure they are appealing to consumers with the appropriate tone and style. Streamlining product offerings and using the brand as a filter for innovation and design decisions will ensure a unified approach and clarity for customers.
For the food and beverage companies on the table, geographical diversification will be critical to building brand value. It will be essential that they understand how their brands can be expanded beyond the Chinese and Taiwanese markets and positioned correctly for consumers. Once a brand’s audience has been correctly identified, bringing the brand to life through messaging and a visual style that is appropriate to the market and consumer will build strong equity and aid in selection.
Taiwanese brands must expedite the global adaptation of their products and services in order to compete in the marketplace. Strong brands affect people’s lives for the better everyday and Taiwan’s Top Brands are no exception. Global brands, however, have a broader remit, and must aspire to change the world. By achieving such change, Taiwan’s Top Brands will be able to take their place among the Best Global Brands.