Do you know that Bangladesh is one of the 11 countries in Goldman Sachs Next Eleven(or N-11), listing countries which has promising outlooks for investment or future growth.


Bangladesh Brand Forum has the vision of aiding Bangladesh’s corporate world into creating remarkable world class brands. If Bangladesh wants to elevate its status from underdeveloped to developing and finally to a developed nation, the impetus must come from the business world. We need to develop the ability to look beyond ordinary, infuse creativity and excellence into all our thinking and action.

Created in 2006 and chaired by Shariful Islam and with Professor Ferhat Anwar of Dhaka University, Toffael Rashid, a worldwide experienced marketing professional and Mushtuqe Ahmed as executive advisory members, Bangladesh Brand Forum stages an annual marketing forum and an annual leadership forum, both which have the aim to help inspire and upgrade Bangladeshi skill set to compete within the global market. Bangladesh Brand Forum also has a monthly marketing journal.

With each of these inputs into the business community, Bangladesh Brand Forum believes it can aide Bangladesh's economy to exploit the possibilities identified by Goldman Sachs and in doing so show how the disipline of marketing can be a societal tool for upgradation.

www.BangladeshBrandForum.com




ARTICLE FROM DHAKA FINANCIAL EXPRESS NEWSPAPER: APRIL 2008

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Brands are the key to Bangladesh’s Opportunity of a Lifetime by Toffael Rashid

In 2002 the acronym BRIC entered into financial and corporate language. Reputed investment bank Goldman Sachs had analyzed developing economies and identified Brazil (B), Russia (R), India (I) and China (C) as 4 countries that should receive focused investment as they were on the verge of explosive growth. At the time I was living and working as an expatriate in Mumbai for my then employer Unilever. Being British born and thus growing up in a very developed consumer economy, I was used to a very different way of life. Mumbai still had one foot in the past although the many signs of India’s dynamic growth story were very much in evidence.

The most vivid example of explosive growth I remember came from my daily listening of the car radio on the way to work. In 2002, India’s radio service was state owned, in Mumbai there were only 2 radio stations which broadcasted through medium wave and with a very limited menu of news and debates. Radio played a miniscule role in society and those who even owned one had very old machines capable only of broadcasting medium and long wave. Music was not played nor was their any radio advertising. And this in the city that hosts Bollywood with all its music and artists!

In 2002 the government privatized the radio industry. Six new FM radio stations were launched with great brand names like Radio Mirchi. Each of these stations was targeted at particular demographic and filled with music, phone-ins, radio drama and sports coverage. Suddenly everybody wanted to listen to the radio. Some very smart entrepreneurs imported laks of those slim credit card like radio receivers each with a small ear piece. In the space of a few days these small devices costing 100 rupee’s each were being used by everybody in the city: be they students, corporate execs, auto rickshaw drivers or fresh fruit market wallahs.

And so life as it had once been lived changed in a small but significant way. Today the industry is thriving employing many trained people who produce radio channels of high quality and which is part funded by radio advertising; a profitable industry built from scratch in less than 5 years.

The India growth story has of hundreds of examples similar to my radio example. Two factors keep its economy growing. The first is the mass migration of rural people into urban environments at a rate never experienced before in the history of the planet. As tens of millions of new people arrive with the ambition of a better life, working people already in the cities upgrade to the middle classes with more income than ever before to spend on consumer goods that better their lives in some way.

This ancient and historic nation is being utterly transformed by the proven model of capitalism. As new sectors emerge, many new brands are launched. Consumers in India have never had so much choice. And no matter whether it is from a multinational or a local company, it is through brands that consumers are making their choices.

With the BRIC economies fully set on the road for transformation, Goldman Sachs sought to identify the next developing markets ripe for growth. After applying rigorous criteria, 11 nations were identified, the so called ‘next 11’ or N11 nations. These include countries such as Iran, Mexico, Vietnam, Indonesia … and Bangladesh.

Bangladesh was identified as an N11 for many attractive reasons including its young, dynamic entrepreneurial and cost competitive labour force, opportunities to replicate its successful garments/textiles business model to other industries such as outsourcing and pharmaceuticals, having an investor friendly regulatory environment as well as the large natural resources in natural gas and coal. Last but not least, it occupies a strategic location between India and China in the heart of Asia. And so a golden opportunity awaits.
The transformational stories emerging from China & India indicate that if replicated, Bangladesh has as much economic potential. With Goldman Sachs ‘N11’ recommendations ringing in their ears, multinational corporations, investment speculators and public sector NGOs are analyzing the opportunities Bangladesh presents. It is literally a once in a lifetime opportunity; possibly the historic catalyst Bangladesh has been waiting for since its birth. And it’s finding plenty to get excited about. So all the possibility of a future full of promise.

However, there is a big danger that unless Bangladeshi entrepreneurs recognise this opportunity quickly, foreign outfits will steal the market place … and those profits forever! The key question for Bangladeshi’s is to ensure they benefit from the potential economic boom that ‘N11’ nation status investment will provide.

The Bangladesh Brand Forum was created in 2006 with a belief that the principles of marketing & branding should be a critical tool for societal upgradation. The legacy of our barter economy is that in pursuit of the lowest possible price, quality was always sacrificed and so across society, we are left with sub standard choices. At their most basic level, brands are shorthand for a promised level of quality, a ‘seal of authenticity’ for the particular range of benefits that a company will offer. If applied across the entirety of the economy and civic infrastructure it will, in one stroke raise our standards forever.

Our next step must involve the creation and maintenance of Bangladeshi inspired brands. Aside from telco, banking and basic household consumer goods, almost every sector has huge potential to create brands which offer consumer targeted benefits. These new brands must delight Bangladeshi’s who will treasure them as unique and wonderful manifestations of their national culture, feel a genuine emotional connection whenever they use or interact with these brands.

There are already some promising candidates: the likes of Grameen, Aarong and Praan have great potential. But there are also many other opportunities: I think Halim is a wonderful snack that people around the world are waiting to discover, I think its greedy that only Bengali’s know about the amazing flavor of Hilsha fish, the jute industry could be reinvented with innovative inventions given the global issue with plastic bags, the Sundabans & the world longest sea beach starting at Cox’s Baazar are destinations tourists are just waiting to discover … and there are so many more examples. If any or many of these opportunities were realized and the brands became international, the reputation and branding of Bangladesh would also dramatically change for the better.

Powerful brands are very good for the economy because of their wealth spreading ability. Research reveals that companies with big brands tend to generate anywhere between 2 ½ and 3 times as many jobs as actually appear on their payroll. As they expand, they hire more people and that increases the service businesses around them. They need more suppliers, they sell more precuts, the retail businesses do better, everybody pays more taxes, they hire more people, and so it goes on. When countries have less strong brands like Bangladesh, it does not get that effect.

It is these issues that we will be debating at length at the Bangladesh Brand Forum 2008. We believe that despite the temporary period of political uncertainty that we find ourselves, we are at a historic juncture in time. And those brave enough to grasp the opportunity through the principles of brand building will take first mover advantage. The train is about to set off …. Do you have the foresight and bravery to get on board?

The BANGLADESH BRAND FORUM 2008 takes place at the Radisson Hotel on 26/27 April. Please visit our website for details: www.BangladeshBrandForum.com'Bold text



Toffael Rashid is British born but proudly of Bangladeshi parentage. He is a globally renowned marketing professional, currently based in Singapore where he works for the world famous advertising agency, Lowe & Partners as Global Strategy Director. In this capacity, he advises several blue chip multinational companies on their global marketing strategies.
Toffael learnt his trade working for Unilever for over 12 years based at various stages in the UK, France, India, & Thailand. During these assignments he has had country, continental and global responsibilities and in the process gained cultural and business experience in over 40 countries across 5 continents. He also spent 18 months with PepsiCo based in Bangkok as Director - Innovation & New Ventures; Asia.

Toffael is vastly experienced in all aspects of the marketing process including generating insight; ideation, developing large scale global innovations and international marketing communications as well as executing large scale marketing activities at a country level. Much of his work has been recognized through prestigious awards from the UK Marketing Society and Cannes Advertising Festival and has received coverage from global media such as The Economist, TIME magazine, CNN, BBC etc.

Toffael’s core belief is that marketing can be a tool for societal upgradation; that when the private and public sector work together, society can be transformed in a small but significant way. Key examples of this include his masterminding of Unilever’s first service business in its 108 year history through the internet focused start-up ’myhome’ as well as the reinvention of its oldest brand in India, Lifebuoy, through a path breaking and award winning rural marketing campaign.

Toffael is a regular speaker at high profile marketing conferences in Europe & Asia, lectures at various MBA courses and is a regular contributor of marketing essays. He is an executive member of the British Marketing Forum and a founding member of the Bangladesh Brand Forum.
Despite his travels, Toffael has yet to master the art of using chopsticks claiming ‘finger dyslexia’ as his excuse. He offers a significant reward to anyone who can help him make this break through.