The story of building and preserving Vietnamese business brands

DNHN - Vietnamese firms must recognise that the brand's image must be developed on a solid foundation, not one that is "inflated" and based on "virtual" value.

With the support of the Party, State, and Government, as well as the efforts of the business community, Vietnam has produced firms such as Viettel, Vingroup, Vinamilk, TH True Milk, and Thaco that have established their brand on the international stage. 

However, in the process of establishing their position and image in the international arena, Vietnamese businesses will invariably hit "low notes." The fact is that in the past, brands such as Cao Vang Sao, Thong Nhat bicycle, Thuy Ta ice cream, Co Ba soap, and Thuong Dinh shoes were easily identifiable as "leading birds" in their respective industries or fields, containing both the dreams and memories of many generations of consumers. 

Nevertheless, these brands are no longer considered "glorious" or are unable to compete with other "hit" names in the same area. 

As we all recall, Vinashin was a cult name in the early 2000s, once branded the "giant" of Vietnam's shipbuilding industry. However, within nearly a decade, the Vinashin brand has demonstrated operational management flaws. 

Consequences from a "large man" of the economy progressively sinking into debt "sink" the entire Vinashin brand to the bottom of the ocean together with the "ships" of losses. 

In recent years, the silk scarf "Khai Silk" was a "popular" trademark known for "bringing bells to battle foreign countries." However, after Khai Silk's silk scarf admitted to being "manufactured in China," faith in a large brand was deemed destroyed. 

Recently, two large firms, FLC and Tan Hoang Minh, who own brands that establish their level and instil "faith" in the hearts of customers, have also "fallen" into the "whirlpool." crisis when the "boss" signals of law violation were clarified. The proof is in the fact that these firms' stocks are perpetually "red on the floor" on the stock market. 

Customers' "breakdown of faith" in the FLC and Tan Hoang Minh brands is unavoidable when the business's leader has developed a name based on "virtual" principles, preying on the public's gullibility. reputation for its benefit. FLC and Tan Hoang Minh's real estate brands can be created over decades, but in a short period, there is a "dropping note" in customer affection and trust. 

A Vietnamese proverb states that "a good name is preferable to a good shirt." The ancients appeared to be reminding them to uphold their dignity and honour. Never trade your hound virtues for a smidgeon of wealth and glory. Additionally, the Soviet writer (former) Nikolai A.Ostrovsky's work "So hardened steel" contains the sentence "The most precious thing in man is life and living honour."

The same is true for the business's brand story. The business's reputation must be "cultivated" through the values that captivate customers and become ingrained in their subconscious, not through the "cover" of huge profit numbers on financial statements. The principal or the million-dollar project. Is the massive amount of assets amassed by the "boss" such as FLC, Tan Hoang Minh worth the trade-off with the brand, the reputation built over decades that has suddenly "bottomed out," or the possibility of spending the next few years in prison?

In today's deepening integration process, enterprises' market success is determined by their superior competitiveness and brand name. Numerous brands, such as Vingroup, Vinamilk, TH Milk, and Thaco, continue to be "hot" in the market today. This demonstrates and affirms the importance of preserving and promoting inherent brand values. is the solution for businesses to retain consumers. Building a brand from the ground up with genuine values to gain a foothold in the market is difficult, but more than ever, sustainable brand protection is critical. 

Through the examples of the above businesses' processes for developing and protecting their brands, there are valuable lessons for any business entering the market to understand the importance of developing and protecting the brand name. brand name; this is particularly true in the context of global economic integration. Because a brand is more than a name; it is a manifestation of the product's success, and it contains the consumer's trust.

The process of developing and protecting a business's or entrepreneur's brand requires foresight, a willingness to think big, and a genuine concern for the long-term interests of individuals, the community, and the nation. ethnicity, but not for the sake of money, the immediate gain associated with trades. Hopefully, there is one more valuable lesson to be learned from this. 

Gia Minh - CT