The business community in the ASEAN, among other stakeholders, keenly awaits the onset of the ASEAN Economic Community (AEC) 2015 later this year – an event that marks creation of an open economy, with free movement of goods, services, and labour across the region. Indonesia, as the region’s most populated nation and biggest economy in terms of GDP, is naturally the most closely eyed regional market, owing to fundamentals including a large young population, a rapidly growing consuming class, rising internet adoption and a domestic consumption-driven economy.
The biggest question facing the marketers in the region is “are we ready?” There is absolutely no denying the opportunities, but in order to capitalise on them, the challenges need to be addressed first. One of the foremost will be to improve competitiveness.
As Indonesia is positioned to be one of the most critical consumer markets in the region, it would be imperative for local businesses in the region to not only aim at defending their market share, but also capture share in other ASEAN nations. That would require careful and strategic planning and execution, which can be significantly aided by staying more informed and abreast of the developments in the AEC.
The Indonesian government is taking a pro-active approach to help businesses, especially SMEs, prepare for the AEC. On its part, it has recently launched an AEC Information Center, to educate local businesses and help them prepare better for the impending market integration. The center aims to provide consultation for local businesses, along with public information on the AEC. The UKM-backed Indonesia WOW project focuses especially on SME’s marketing aspects, an initiative also supported by MarkPlus.
The ASEAN Marketing Summit is another such endeavour to encourage specific dialogues on marketing strategies and tactics to prepare regional businesses for the impending AEC. Scheduled to be organised on the 9th of October at the Ritz Carlton, in Pacific Place, Jakarta, this is the first such marketing event with a core focus on the AEC 2015.
The panellists, including industry players from Asia, ASEAN, and Indonesia, will all share their valuable insights on how to better market their products and services in the new open AEC. Moderators of the panels include renowned personalities from the marketing world, including
Philip Kotler, father of the modern marketing, will also grace the occasion as well as share his views on marketing in the new ASEAN.
Along with providing an excellent networking opportunity, the event will also include a session on the Asia Marketing Excellence Awards presented by the Asia Marketing Federation.
For more information on the event, please visit http://aseanmarketingsummit.com/.