MUMBAI: Ever since coming to power in 2014, Indian Prime Minister Narendra Modi has made frequent foreign visits, and his purpose of travel was to promote a brand - “Brand India.” Be it Madison Square in the US or Allphones Arena Sydney or the recent Middle East trip, Modi was concisely making efforts to convey the message that India is a destination for business explorers and investors. The argumentative Indians argued the pros and cons of every travel of his, though the Indian diaspora welcomed him with full houses, claps and slogans, back home he earned titles like NRI Prime Minister etc.
A little more than one year down the line, what impact did Modi’s foreign visits have? Has “Brand India” succeeded in making a mark in investors’ mind? Has a government with absolute majority made a big difference in bringing in adequate reforms, which in turn will enhance the brand value? Where are Indian brands placed in terms of brand valuation, are they forging towards being dominators or do MNCs still stand tall in the top spot when it comes to brand valuation?
The second edition of the BrandZ Top 50 Most Valuable Indian Brands, which will be released by WPP and Millward Brown on 9 September, 2015 will answer many such questions.
BrandZ is a global rankings study that uses a unique brand valuation methodology that combines officially released financial data and consumer-driven brand equity measurement to calculate brand value. The valuation studies were introduced globally in 2006, in China in 2011 and Latin America in 2012 and have received an overwhelming response internationally.
Speaking to Indiantelevision.com, Millward Brown South Asia director Prasun Basu says, “The study will reveal key insights on trends in the Indian market by WPP companies across India, insights into how brands drive financial growth, the brands with the greatest potential for growth, the elements that have led to successful brand building in India and the way forward for building valuable brands in India.”
The study analyses brands across various key business sectors including banking, automotive, telecom, personal and household care, foods, beverages, and insurance.
Basu asserts, “Clear and concise communication, which has a concrete purpose gives brands the wings to fly. Communication is an important aspect, which impacts a brand and now with social media proliferation, consumer insights are easily accessible. Brand communication managers need to be on top of the data and curate communications around that.”
“We created a stock portfolio of the BrandZ Top 50 Most Valuable Indian Brands 2014 and compared its performance over the past five years with the performance of India’s Sensex. Between May 2009 and May 2014, The BrandZ India Top 50 Portfolio appreciated 201 per cent compared with a rise of 74 per cent for Sensex. The BrandZ India Top 50 Portfolio includes all the brands in BrandZ Top 50 Most Valuable Indian Brands. Sensex is a weighted Index of 30 stocks listed on the Bombay Stock Exchange,” adds Basu.
BrandZ collates data by studying more than two million consumer insights, interviewing over 25,000 consumers directly. “In 2015 edition of the report, we will have over 500 categories and 200 brands analysed,” informs Basu.
“Last year’s report had many encouraging factors for the Indian marketplace and brands, Banking sector’s HDFC topped list followed by telecom giant Airtel, the report subtly told the entire fraternity that there is huge potential of growth,” he adds.
“India is at the threshold of becoming an economic superpower with evolved consumers. The process of valuing brands paves the way for growth strategies for various Indian companies in an otherwise very competitive environment. The report also consists of inputs and opinions by brand experts across WPP companies in India that highlights the dynamic nature of the Indian market and brand-building strategies. This year’s report will have a lot of positives and that’s all I can say before its launch,” concludes Basu.
