According to nation branding expert and marketing guru David Reibstein of Wharton School, the US, playing to its strengths, will help India improve its global perception rankings.
“India is perceived as economically, politically, and culturally influential, but needs to improve on entrepreneurship, citizenship, quality of life and being more open for business,” the William Stewart Woodside Professor of Marketing at the Wharton School said.
He addressed the 5th edition of the Dean’s Speaker Series at the Indian School of Business (ISB). His speech was ‘Why Nations Need to Brand – The Way Forward for India.’
Reibstein presented the findings of his study that ranked nation brands of 60 countries across the world and, in particular, the outcomes for India. Over 16,000 respondents worldwide, including business experts, participated in the study, ISB, in a note My Update System.
“Nations have brands whether they like it or not, and the perception of a nation’s brand has a direct influence on its economy, foreign trade, external relations, and several other aspects,” Reibstein said, taking the audience through his findings.
These rankings were based on nine parameters: influence, power, open for business, movers, citizenship, entrepreneurship, quality of life, heritage, and adventure. According to the findings, India has been ranked on top in the category of “mover” – perceived as distinctive, different, and unique and 39th on “citizenship.”
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It stood at the 29th spot regarding being “open for business” – having an economical manufacturing cost and a favorable environment.
A country’s brand is the result of how it is perceived by its citizens and those from other countries, which are based on their experiences and perceptions — as tourists, through products from that country, trade, and investments in that country. Through the happenings and news of that country, the note said.