The BrandZ India Top 75 - Top Risers
This year’s list of Top Risers proves that growth can come from anywhere. In addition to a group of B2B and finance brands that includes Infosys, Tata Consultancy Services, Bajaj Allianz, and Axis Bank, 2019’s Top Risers include consumer-facing brands like Maggi, Ola, Dabur, and Brooke Bond.
This year’s list is led by Jio, the four-year-old telecom phenomenon. In Q1 of 2019, Jio surpassed Vodafone and Airtel to become India’s biggest telecom company by subscriber base and revenue share (with some 330 million users taking advantage of the company’s astonishingly low prices). It also moved up one place on the overall BrandZ™ ranking, rising to ninth from the number ten slot it held in 2018.
Jio has redefined the industry state of play with its low data and call rates. And while some commentators worry that Jio’s low-cost strategy will hamper its ability to command larger profits and expand its network, Jio say that the Reliance-owned company can already stand on its own financially, and has only used a fraction of its current infrastructural capacity.
From a brand equity perspective, it’s important to note that while low rates initially drove consumer interest in Jio, the company has evolved to develop a broader advantage in Meaningful Difference over its competitors. The brand’s appeal is as much emotional as rational, with Jio leading the telecom market in “brand health” vQ attributes like Purpose, Innovation, Communications, Experience, and Love.
Interestingly, only two of 2018’s Top Risers held on to make the 2019 list: Jio and insurer Bajaj Allianz. They had ranked fourth and tenth in 2018, respectively.
Last year’s tenth-fastest growing brand, Bajaj Allianz, grew faster in 2018 than this year’s top riser, Jio, rose in 2019, which is consistent with the overall picture of lower brand value growth for this current year.
In terms of absolute increase in brand value for 2019, Tata Consultancy Services (TCS) led the pack by adding more than $3.1 billion in brand value year on year. Its equally impressive growth rate of 21% allowed TCS to easily maintain its number three spot in the BrandZ™ India Top 75 rankings.
TCS has won preeminent success its industry through a reputation for innovative and creative solutions to business technology problems. Not surprisingly, then, standing above its competitors with an exceptionally high BrandZ™ vQ score for Innovation.
Innovation is just one way that this year’s Top Risers distinguished themselves in 2019. Packaged food brand Maggi, for instance, improved on key brand equity scores to become more Meaningfully Different than ever this year – and was rewarded with a more than 24% increase in brand value. Maggi is the first-choice brand of instant food for over three-quarters of Indian shoppers. And while new products are exciting for Maggi customers – this year saw the introduction of several new East Asian flavors – Maggi’s main appeal is emotional. After a safety scare earlier in the decade, Maggi has successfully re-established itself as one of the country’s most trusted brands with a kind, caring, and wise personality.