KUALA LUMPUR, July 24 – While Most Malaysia small and medium enterprise (SMEs) are not well-known, about 62 per cent of them are confident of becoming regional and global brands in the next five years, according to a survey titled. `Malaysian SMEs Brand Potential’.
The online survey by Bizphere Brand & Marketing was to gauge the branding challenges and potentials of local SMEs to be global brands.
In a statement today, its Head of SME marketing support, Sherine Ho, said the SMEs’ confidence showed that positive mindset was needed to prosper in the global market, as many had recognized branding importance, given the international market liberalization and intense competition.
“It is just not enough to produce quality products. People buy brand, one which is relevant, differentiated and engaging.” she said.
Ho said Malaysian SMEs must be more pro-active to undertake research on business-relevant government support programmes.
The lack of comprehensive brand plan and financial support for brand communications was the top challenges for SMEs, she said, — Bernama