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Competing on Brand Rather Than on Price Could Sustain Growth
01 Sep 2004
Once thought of as the arena of 'arty' designers and marketing agencies, adopting best practice in design and brand management is set to become a major driver for sustaining UK industry in a global economy says Mark Eaton, director of the MAS (South East & London), for EEF South.
Although recent figures released by both the CBI and the EEF demonstrate that industrial output has increased again, the trend of declining margins continues, and is primarily driven by price.
Competing on price alone can only be bad for UK engineering in the long term as businesses reduce investments in everything from training to capital equipment.
Work undertaken by the Design Council through their 24/7 programme and latterly the 'Design Immersion Programme' demonstrates that more companies could compete on brand, rather than price, by increasing the value of their brand, investing in marketing and incorporating good design practice.
However, many engineering businesses involved in making 'commodity' products, have no alternative to price competition, and must focus on continual process improvements using such activities as Lean Manufacturing and Six Sigma.
To find out more about design and brand best practice contact the Manufacturing Advisory Service in the South East on 0845-609-2121 or email info@mas-se.org.uk, where the team can provide you with support wherever you are located. www.mas.dti.gov.uk.
www.designcouncil.org.uk.
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