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The Dubai Business Women Council (DBWC), the official representative organization for business women, both professionals and entrepreneurs, in the Emirate of Dubai, held its monthly Network Majlis event at the Dubai Chamber of Commerce and Industry under the theme “Product, Brand or a Lovemark”. The session was hosted by Bassam Falah, Managing Partner, and Moatassem Moatez, Business Partner, both from INNOVEST Middle East.
The interactive session provided participants with insights to: Attributes of successful brands, Benefits of having a strong brand, The Love Mark Concept, Global best practices of building winning brands and how to nurture and build strong brands.
“Lovemarks have been around for centuries and have been part of our lives and our homes through generations,” said Mrs. Raja Al Gurg, President of DBWC. “While building your brand, especially now for small businesses in the UAE, it is important to make sure you get the mix right so that your audiences can relate to it and understand what you are trying to offer to them. The market is extremely dense and it is important to showcase your brand in an innovative and unique way that people can trust and relate to.”
Lovemarks is a marketing concept that is intended to replace the idea of brands. The idea was first widely publicized in a book of the same name written by Kevin Roberts, CEO of the advertising agency Saatchi & Saatchi. In the book Roberts claims, "Brands are running out of juice". He considers that love is what is needed to rescue brands. He suggests the following are the key ingredients to create lovemarks: Mystery (Great stories: past, present and future; taps into dreams, myths and icons; and inspiration), Sensuality (Sound, sight, smell, touch, and taste) and Intimacy (Commitment, empathy, and passion).
“Turning a brand into a lovemark is a long journey, and very few brands succeed in reaching the minds and touching the hearts of their consumers simultaneously. To succeed in this, companies not only have to be consistent in their communication to their consumers, but have to continuously ensure that their products or services meet their expectations and aspirations,” added Moatassem.
INNOVEST ME is a business startup, management buy-in firm that supports emerging, high potential business opportunities. Bassam and Moatassem have a combined 25 years of experience in business and now help new business flourish in the region.
“As the UAE evolves, we expect many new lovemarks to reach into people’s homes and hearts as entrepreneurs here understand the value of winning a consumer’s respect and love. It is our ambition to continue educating our members on the importance of these strategies as we help them grow their brands, strengthen their offerings and in the end, play a pivotal role in the UAE’s economy,” concluded Mrs. Al Gurg.
Attendees were also treated to a surprise visit from Pru Ashby, the Head of Technology for London & Partners, The Mayor’s official promotion organization for London. During her visit she gave members a brief introduction about Tech City UK (TCIO). The new development was established to support the growth of the tech cluster in East London. Its aim is to help TCIO become Europe’s center of innovation and the location of choice for tech and digital companies and investors. Led by former Facebook Vice President and Managing Director Joanna Shields, TCIO brings new companies and investors to East London, and provides support to local companies seeking to expand internationally.
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