Economy, Business And Markets

Role of Branding Emphasized

Role of Branding EmphasizedRole of Branding Emphasized

The role of branding in promoting domestic industries and enterprises was highlighted in the Third Brand Conference that opened in the city of Mashhad on Wednesday.

The effect of branding on consumer behavior was the central theme of the two-day conference, which followed a series of similar conferences held in Khorasan Razavi Province’s capital city since 2013, IRNA reported.

The conference organizer, Amir Mehdi Moradi, said the majority of domestic enterprises has not realized the utmost importance of creating brands to promote Iranian products in the regional and international markets.

He further noted that the practice of valuating brands and intellectual properties is largely unknown in Iran and that business-owners spend a very small share of their budget on marketing and improving customer satisfaction.

The brand conference, according to Moradi, is aimed at building a branding culture, promoting brand creation and providing educational courses on brand management and related legal issues.

Deputy director of the Association of Khorasan Razavi Industries, Ahmad Asna-Ashari, said brands should not be associated only with small and micro enterprises.

“Large industries such as petrochemical and petroleum should also have national brands,” he said.

Khorasan Razavi in northeast Iran currently has 6,000 active manufacturing units, of which 95% belong to the private sector.