(MENAFN - Arab News) Branding is underachieved in Saudi Arabia. Only branding can increase our mission to diversify the Saudi economy in nonoil sectors.
A3 Communications, Canadian advertizing and branding boutique agency, realizes a brand management gap in the Saudi market, where branding is underachieved, affecting the economy as a whole.
The power of branding impacting the discipline of economics is called Brandnomics, studied by Ayman El-Masri, general manager, Superbrands Saudi Arabia, and chief creative officer and founder of A3 Communications.
Fahad Abunayyan, chairman and co-founder of A3 Communications, believes this is an important step for the diversification of our economy. More Saudi brands need to be on the rise.
A3 Communications organizes the first branding awareness event in Saudi Arabia, at Riyadh Novotel-Al Anoud on Dec. 8 (6 p.m. to 10 p.m.).
The A3 Brandnomix Show 2013 takes place with the support of Prince Saud bin Sultan bin Mohammad bin Saud Al-Kabeer and guest of honor stock market analyst Youssef Kassantini.
The show will feature the latest video mapping projection technology that will leave you breathless followed by a heated debate among guest-speakers such as Philippe Infante, managing director, JCDecaux ATA; Ali Bayloun, Superbrands KSA board member and banking marketing specialist; Chafik Al-Kinany, shareholder, I-Techia; Husam Edghaim, general manager, GTC-Olayan Financing Co; and Rafic Ghandour, marketing director, Gandour.
First, we must understand that there are three economic pillars for Saudi Arabia - oil, petrochemicals, nonoil mining. Now, the government is preparing for the future growth with the rise of population, oil export earnings of SR 847.8 billion (90 percent oil) might not contribute as much to the GDP as they have in the past, where the GDP stands at 435 billion growing by 3.7 percent ended 2010. We must rethink new ways for alternative energy rather than to deplete our natural resource and diversify our economy in nonoil sectors consisting of only 6.2 percent of the GDP ended 2010 as per Ministry of Economy and Planning.
It is the perfect timing for Saudi economy to move forward into the branding era via Emotional Selling Proposition given that Saudi Arabia lives in the renaissance of art.
Branding will effectively contribute to The Ninth Development Plan as discussed by Custodian of the Two Holy Mosques King Abdullah, focusing on the diversification of the economy in nonoil sectors and sustainable development supporting small and medium enterprises (SMEs).
A3 Communications has a vision and it is to brand the Saud Arabian nonoil sectors increasing GDP, exports, local talent, and competitive advantages that harness innovation and fight foreign competition.
Branding also assists in increasing local Saudi franchises operating overseas, hence, injecting income back into the economy in the supply chain and generating foreign royalties.
The only way to attract foreign investors to invest in Saudi franchise is to build a brand not a product. Branding positively adds value to your company in many ways including brand equity-intangible brand value. Apple brand equity is worth more than 182 billion.
Google's brand declined 2 percent to 111.5 billion.
IBM, McDonald's and Microsoft rounded out the top five.