Brands give Irish businesses a competitive edge, create profit and must be taken seriously in the boardroom if companies want to succeed, according to Bord Bia’s Brand Forum which took place at the Guinness Storehouse in Dublin.
Over one hundred Irish food and drink companies gained valuable insights from both Joe O’Flynn from the Irish Dairy Board – Kerrygold and Greg Butler from Barry’s Tea. The theme of the session was "Built to Last" - The Value of Conviction, Consistency and Long Term Strategy in Brand Building.
"In an increasingly competitive environment, brands are wealth generators and critical for success" commented Patrick Rigney Chairman of the Bord Bia Brand Forum and MD of Fastnet Brands. "Branding is a way of doing business that involves mental strength, passion and conviction. In order to succeed, you and your team have to be clear where the company is going and deliver on that work plan."
Greg Butler, Financial and Marketing Director, Barry’s Tea commenting highlighted, "Quality combined with the Irish emotional attachment to tea and tea drinking has kept us successful. We have consistently used Golden Moments to communicate in a way that Irish consumers can relate to." He went on to say that customer loyalty to Irish tea and in particular to Barry’s Tea was so strong that Lipton, the world’s largest tea brand was unable to penetrate the market here when it was introduced in Ireland in the 1990s.
Quality has been at the centre of Barry’s Tea since its foundation in 1901. It held 14% of the national tea market before it changed its business model from retail to wholesale. Today, Barry’s Tea accounts for 37% of all tea sales in Ireland and has an annual turnover of €31m. The company only began advertising in 1985.
Joe O’Flynn, Marketing Development Director, the Irish Dairy Board – Kerrygold, highlighted the value of positioning your brand as a premium one. "We understand the market and we understand our customers. In Germany, one of our largest markets, consumers are price sensitive and are also prepared to pay for quality."
He explained that Kerrygold’s brand equity is more than simply being Irish. Since Kerrygold’s launch in 1973, there has been a constant commitment right across the business to standards and quality which customers trust. From Kerrygold’s perspective, it means that customers would notice if it were not on the shelves and this has helped the brand in price negotiations with retailers. As a result Kerrygold has held its own on price and on sales because of consumer loyalty and emotional attachment to the brand in one of the world’s most competitive markets which is dominated by discounters in the retail sector.
The session was food for thought for companies in the Irish Food and Drink sector that are facing pressure on sales, margins and competition. Aidan Cotter, CEO of Bord Bia said, "Branding is an investment, it gives sustainable competitive advantage. Bord Bia offers cutting edge services to companies in the food and drink sector to help them grow their business in the branded route to market.
The Bord Bia Brand Forum also showcased its new corporate identity at the event. Committed to building better brands, the Brand Forum helps Irish Food and Drink companies build stronger businesses through branding by accessing its network of knowledge, expertise and advice. Now in its sixth year, it is recognised as the leading authority on food and drink branding in Ireland.
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For further information please contact:
Rosaleen O'Shaughnessy, Corporate Communications, Bord Bia
Tel: 01 6142245
About the Bord Bia Brand Forum
Committed to building better brands, the Bord Bia Brand Forum helps Irish Food and Drink companies build stronger businesses through branding by accessing its network of knowledge, expertise and advice. Now in its sixth year, it is recognised as the industry’s leading authority on food and drink branding.
Established in 2001, the Brand Forum provides a robust networking and information sharing platform for the food and drink industry, particularly for those who are developing brands.
Membership consists of over 100 food and drink companies ranging in size and profile from multinationals to small enterprises.
The Brand Forum gives opportunities to member companies to update their branding knowledge on a quarterly basis through workshops, speaker platforms and networking sessions. Members can then apply this knowledge to their businesses as well as leverage the resources available from Bord Bia to support their ongoing development.