As think tanks go, the Asian Centre for Brand Management (ACBM) has generated much fanfare in the three years since its inception. The centre was founded in 2005 based on governmental funding.
ACBM director Sherriff Luk Ting-kwong said: 'We saw high potential to develop a centre of excellence in brand management, especially regarding the customer perceived value of the 'Hong Kong' brand.'
One ongoing query at the ACBM is why customers repeatedly come back to certain brands and their products. The ACBM convenes twice a year to discuss branding techniques, share new trends and predict Hong Kong's burgeoning branding needs. The group is comprised of CEOs and other business leaders with track records for creativity and innovation in brand experiences.
The think-tank's sponsors include Giordano, Chow Tai Fook, Lam Soon, Hutchison Telecommunications, The Chinese Manufacturers' Association of Hong Kong, and the Hong Kong Ambassadors of Design.
A hot topic is 'lifestyle branding' - catering for customers who base purchases on their lifestyles and personalities - something businesses should be cognisant of when communicating with customers.
However, Dr Luk offers the caveat that 'the concept [of lifestyle branding] is only important for certain products because it's tough to measure 'lifestyle' '.
Academically, no scale is reliable for measuring lifestyle. 'It's the most difficult task in branding research,' he said. The reason is there are too many conceivable yardsticks to measure lifestyle. However, he believed the 'self concepts' of consumers were more important than lifestyle because 'this particular area is very subjective'.
