Adspend in China will likely be given a boost this year amid an
expected new influx of multinational brands following the country's
entry into the World Trade Organisation (WTO).
Leading the way will be telecom, insurance and banking companies; firms
which previously were not allowed into China by Beijing in order to
protect local industries.
Mr Joseph Wang, O&M group managing director for Hong Kong and southern
China and vice-chairman for China, said foreign brands are preparing for
the push.
O&M has a large roster of multinational clients, giving it a headstart,
he added.
Mr Wang also said that China's entry into the WTO would help spur the
country's economic growth and attract more foreign investment, which in
turn would energise Hong Kong's economy.
"What we will see is a bright economic future for China even in the
hinterlands, as more foreign brands enter the market to establish a
presence and that will energise Hong Kong's economy, as the management
and infrastructural expertise will mostly come from here," he said.
Meanwhile, O&M Hong Kong has doubled its training budget for 2000 to
HK$1 million to better equip its staff with its "360-degree
branding" techniques.
"The concept of integrating advertising with all the below-the-line
stuff doesn't cut it any more," said Mr Wang.
"We must look at every aspect of a brand's equity: product equity,
goodwill equity, channel equity and so on, and everything has to be
coordinated and seamless."
