China Painting Manufactory Co (1946) Ltd
Management Function Analysis
The company has demonstrated the classic example of creating new "Meaning Set" to a brand with long history.
The brand name established for a long time has the advantage of a ready recall. The new meaning set created by the company includes the components of (a) Technology Excellence in production process; (b) Environmental friendliness in choice of product ingredients; and (c) Customer orientation in product variety and versatility.
With the new meaning set and the long-established brand name, the company can successfully expand into new markets and expand the market share. In Brand management terms, the Brand Substantiator is the brand's heritage, as the company and its products have long years of market presence and it is the reason for the customers to believe in this brand. The second aspect is the Brand Image and through the new meaning set, the brand image can be perceived as reliable, professional, customer friendly and environmental friendly.
Implications for SMEs
SMEs may not have developed its own specific brand, nevertheless, they can take note of the importance of the Product/Service Substantiator (instead of Brand Sustantiatior) and Produc/Service Image (instead of Brand Image) to their target customers. The searching questions include: (a) What make the target customer believe in the product or service provided by the company? (b) What is the meaning set portrayed by your product or service to your target customers? (c) Is there a need to renew or change the meaning set of the existing product or service?