LAHORE: The Lahore Chamber of Commerce and Industry has urged Pakistani entrepreneurs to concentrate on branding since it plays a key role in transforming an ordinary product into a special one and promotes recognition of a business group.
“Keeping in view the on-going tough competition in the global market, we need to promote the branding culture. This would earn us a huge amount in foreign exchange,” said LCCI President Ijaz A Mumtaz in a statement.
“Pakistan has resources in abundance and quality-wise, our goods are ‘best of the best’ in the world, but so far we have failed to get our deserved share due to poor branding,” he added.
He further highlighted the fact that in the developed world, the general consumer gives preference to branded products. It not only adds value to the product but also increases sales at the local level and earns much needed foreign exchange.
He also stressed the need for development of brand mechanism on scientific lines.
“Pakistani products such as textiles, leather and surgical and exports goods have no parallel in the entire world, but a very minimal amount of branded products have won consumers’ confidence locally and globally,” he remarked.
Mumtaz assured that LCCI would continue its efforts to update its members on latest marketing techniques through various activities so that they could enhance their productivity and contribute towards the country’s economic growth.
Published in The Express Tribune, July 12th, 2015.
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