Branding is considered one of the core and fundamental topics in product management strategies. Producing a product under a brand name requires relatively high and long-term investment; therefore, some manufacturers prefer to focus solely on production and delegate the responsibility of branding to other parties. This is, in fact, the approach adopted by Taiwanese manufacturers for many products such as apparel, computers, and electronic home appliances. The majority of this investment is directed toward advertising, promotion, and packaging.
However, manufacturers ultimately realize that market power lies in the hands of brand owners. Brand owners can easily change their manufacturers and, instead of Taiwanese factories, shift production to factories in Malaysia or other lower-cost locations. For example, Japanese and South Korean companies have invested extensively in building brands for their products and have created well-known brands such as Sony, Toyota, Goldstar, and Samsung. Even when these companies are no longer able to bear the costs of production in their home countries, these valuable brand names continue to shape consumer behavior and demand, ensuring that their products consistently retain customers.
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