Regional brands popular in Asia
Singapore, August 23:
Asian consumers prefer regional brands such as Japan’s Sony against internationally famous names, a survey said today. Asian names filled nearly half of the top 20 slots in Media magazine’s ‘Top 1,000 Brands in Asia’, jostling with the likes of Nestle, Mercedes-Benz and McDonald’s. Japan’s Sony emerged as the favourite. Nokia and Panasonic rounded out the top three. Market research company Synovate conducted the survey, which revealed that Japanese and South Korean brands are seen as market leaders in the region. “Many Asian brands are now world-class because they have to compete with products made in Europe or the US,” The Straits Times quoted Steve Garton, Synovate’s director of media research, as saying. The ‘home ground’ factor is not the reason why Asian brands are popular in the region, Garton added.
“Only strong international brands come through,” he said, “Consumers in this region are discerning in what they buy.” The survey of 4,250 consumers in eight Asian markets placed Nestle, Coca-Cola and Kodak in fourth, fifth and sixth place respectively. Toyota was the top Asian car brand in ninth place, behind eighth-ranked Mercedes Benz.