The Top 10 Risers increase significantly in brand value
The Top 10 Risers outperformed the overall record-breaking 33 percent brand value increase of the BrandZTM Top 50 Most Valuable Indian Brands 2015.
Half of the Top 10 risers are financial services brands – four banks and one insurance brand. Their rise reflects the sector’s year-on-year 49 percent brand value increase, and the 41 percent contribution that the financial sector makes to the total brand value of the India Top 50.
Of the other five brands, three come from the personal care category, and one each come from automobiles and paints. The representation of personal care brands demonstrates how these brands evolved to serve the needs of more sophisticated and affluent Indian consumers. The brands segmented their offerings and introduced premium products. The story in paint is similar, while in the auto category certain brands performed well while other brands faltered.
The Top 10 Riser results also reflect the diverse mix of brand ownership models in India. Two of the five financial service brands are State Owned Enterprises. Of the personal care brands, Lakme?, Lifebuoy and Colgate are part of multinationals (MNCs) publicly listed in India. Maruti- Suzuki is an MNC brand while Berger Paints is a private Indian brand.
The bank brands strengthened brand presence with retail customers. One of India’s largest state owned banks, Union Bank of India, increased brand value an extraordinary 72 percent as it accelerated digitalization efforts and expanded its Immediate Payment Service (IMPS), a real-time money transfer facility popular in India.
The 61 percent brand value increase of Punjab National Bank in part also reflects the strong growth of its retail business. Similarly, IndusInd Bank focused on retail and opened the first fully digital branch at a metro station. And ICICI Bank launched a mobile wallet app called Pockets by ICICI Bank, which enables users to transfer money using emails, mobile phone numbers and Facebook addresses.
The personal care brands sit prominently in the Indian consumer mind. Lakme? is number one in Brand Contribution, the BrandZTM measurement on the influence of brand alone on earnings. Lifebuoy has been present in India for over 100 years. Colgate scores 598 in Brand Power in India. Brand Power measures a brand’s ability to drive sales and market share. An average score is 100.
Lakme? and Colgate leveraged this strength to segment their markets and introduce new products, particularly at the premium end of the market. Lifebuoy continued its well-known initiatives to expand business in rural India and promote improved hygiene practices to combat disease.
The four-wheeler leader Maruti-Suzuki increased a whopping 54 percent in brand value. Hero, the leader in the two-wheeler segment, improved 34 percent in brand value. These brands reinvented themselves by identifying and filling product gaps in the evolving Indian market. With well-considered segmentation, the brands served the needs of first-time buyers, shoppers trading up to premium models and those in the vast middle.