According to the Malaysian Star report on the Hong Kong and Shanghai Bank's new brand launch - Worldwide consumer research found that while people appreciated the value of international organisations and services, they questioned the prevailing 'One size fits all' global model...

Consumers wanted to be treated as individuals and to feel that the companies cared about them, recognised their needs and understood what makes their community unique.

This was one key finding from research partly completed in Malaysia which led to the HSBC's current new brand launch as "The World's Local Bank".

The old term "Think Global - Act Local" may not be an earth shattering concept for some, but it is a reality that has been ignored in the rush in Asia for global brands. The power of the global brand is beyond question, but our own research has shown an increasing disaffection for "things global", in various manifestations.

The reactionary flee to launching or re-launching local brands as somehow "global" or "world class" has delivered painful blows to many Asian companies, who fail to recognize the intelligence of Asian consumers. The reaction against local brands "dressed up" as international has been in at least 2 or 3 cases severe. In those cases, local brands which continue to stress their local flavour have captured market share.

Why is it, for example, that Jasmine Rice and Thai instant noodle dishes have been so successfully marketed in the US by US companies, while Thai companies and export committees ignored the chance? Is it a part of the creeping perception that West is best?

There are valuable chances for Asian companies now to market unqiue and fresh products both locally and internationally, and as soon as we get over our obsession with Western global brands the better.

Tesco, another global brand also did what local companies would not do - at least in Thailand. They made their global brand into a local brand. Time for local brands to do the reverse!

Congratulations to HSBC for doing the research and finding out the truth!