BrandZ - Top 100 Most Valuable Global Brands

Fast growing Brands rise in Top 100 Most Valuable Global Brands 1998markets Top 100 Most Valuable Global Brands 1999 BRICS andbeckon Top 100 Most Valuable Global Brands 2000 elsewhere Top 100 Most Valuable Global Brands 2001 Top 100 Most Valuable Global Brands 2002 Top 100 Most Valuable Global Brands 2003 Top 100 Most Valuable Global Brands 2004 Top 100 Most Valuable Global Brands 2005 Top 100 Most Valuable Global Brands 2006 Top 100 Most Valuable Global Brands 2007 Top 100 Most Valuable Global Brands 2008 Top 100 Most Valuable Global Brands 2009 Top 100 Most Valuable Global Brands 2010 Top 10protects value 0 Mos t Valua ble Gl obal Br ands 2011contribution in a challenging global economy It differentiatesBrandBrands pursue Creative strategies impact and buzz generate addedrelevancein digital Valuation and Methodology by Readers Digest Issue 05 Readers Digest Issue 04 Readers Digest Issue 03 Readers Digest Issue 02 Readers Digest Issue 01

BrandZ™ Top 100 Most Valuable2 Global Brands 2012Welcome

Introduction Welcome 3Welcome to the 2012 BrandZ™ Top 100Most Valuable Global Brands report.This is the seventh annual edition of a report that’s become the definitive source forunderstanding brand value, and the strategies that help build and sustain it, acrossnumerous product categories.This year’s report reminds us once again how important brand strength is to thegrowth prospects and long-term health of a business. When a whirlwind of economicslowdown and political uncertainty undermine consumer confidence, brands aretotally exposed. They cannot take shelter from the storm.Rather, strong brands and everything they represent—innovation, trust, reputation,responsible citizenship—enable businesses to navigate and move forward despiteforces that, like the weather, are beyond their control. But how do you build andsustain a strong brand? This report tackles those questions.Because the 2012 BrandZ™ Top 100 Most Valuable Global Brands is so packed withinformation there is a Highlights summary that appears on page 6. You’ll also findTake Aways on page 8.Please accept this report with our compliments and do contact me with any questions,or simply to have a conversation about how we can help you make your brands workharder to achieve your business objectives.Sincerely,Richard MillarCEO

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable4 Global Brands 2012Contents

Introduction Welcome 5Highlights 6 Top 10 Latin America 44Take Aways 8 Top 10 UK 44Strategic Essays 10 Brand Personality: Unlocking key traits 45 for success and valueReputation, Purpose and Profits: 11Bridging the Gap Product CategoriesSustaining brand relevance: The impact of new Apparel 48 12devices on the path to purchase Beer 52Buzz means money: Social and digital media, Cars 55 14vital to the health of successful brands Fast Food 59More than a megaphone: Interactive 15 Financial Institutions 62digital engages people Insurance 67Metail is the new retail: Brand owners and 16retailers face a new world Luxury 70Fast Growing Markets Oil & Gas 73Overview 18 Personal Care 76Brazil 22 Retail 80Russia 24 Soft Drinks 84India 26 Technology 87China 28 Telecom Providers 92Top 100 Overview ResourcesBrandZ™ Top 100 Most Valuable Methodology 97 30Global Brands 2012 WPP Contributors 100Top Risers 38 BrandZ™ Apps 103Newcomers 39Category Changes 40Brand Contribution 41Regions 42Top 10 North America 42Top 10 Continental Europe 43Top 10 Asia 43

BrandZ™ Top 100 Most Valuable6 Global Brands 2012Highlights The value of the BrandZ™ Top 100 Most Valuable GlobalThe total brand value Brands grew 66 Technology andof the 2012 BrandZ™ percent between telecom brandsTop 100 Most Valuable the first valuation together comprisedGlobal Brands reached in 2006 and 2012. about 44 percent of$2.4 trillion. the value of the 2012 BrandZ™ Top 100 Most During that six year Valuable Global Brands.Brand value grew period, the BrandZ™ They accounted foroverall, but only portfolio of highly about one-third ofmarginally, because valued brands the value in 2006.of myriad economic outperformed the S&Pand political issues 500—by 103 percent.that eroded consumerconfidence in thedeveloped economiesand because the BRICs Four of the Topslowed somewhat. 5 brands were in On a category-by- technology. Number category basis, six 4, McDonald’s,Brand itself remained categories were up, was the exception.strong. And the portion six were down andof brand value attributed financial was flatdirectly to brand, in the 2012 report. Apple stayed Number 1,rather than financials or with a 19 percent gainother factors, helped in brand value to $183sustain brands through billion for the technologya challenging year. leader. Luxury and fast food rose most sharply, 15 With a brand value percent, followed by of $116 billion, B2B apparel at 13 percent. giant IBM moved up one slot to Number 2, ahead of Google.

Introduction Highlights 7One in five brands in Sinopec, the oil and gas With an increase ofthe BrandZ™ Top 100 giant and the traditional 74 percent, FacebookMost Valuable Global Chinese clear liquor appreciated the most inBrands was from a Moutai brought the brand value, moving upfast growing economy. number of Chinese 16 places to Number 19 brands to 13 in the in the BrandZ™ Top 100The first brands 2012 BrandZ™ Top 100. Most Valuable Globalfrom Chile, retailers Brands, just behindFalabella and Sodimac, Walmart and Amazon.entered the BrandZ™category rankings. The first Australian brand also entered the BrandZ™ Top 100 Hermès grew 61percent Most Valuable Global in brand value, andMTN, a South African Brands. Commonwealth moved up 39 places intelecom, became Bank appreciated in the BrandZ™ Top 100,the first brand from value in part because based on the strongAfrica to rank in the of its investments luxury market and theBrandZ™ Top 100 Most in the heated brand’s desirability.Valuable Global Brands. Asian economies.Another telecom, Airtelbecame the secondIndian brand in theBrandZ™ Top 100 MostValuable Global Brands.

BrandZ™ Top 100 Most Valuable8 Global Brands 2012Take Aways Value Reputation Brand ContributionConsumers are shopping. But Consumers have little patience It’s the BrandZ™ measurement ofthey’ve adopted a new attitude with brands—and corporations— how much of a brand’s value cantoward consumption—considered that violate trust. They publicize be attributed to the brand itself,rather than conspicuous. Many transgressions immediately and exclusive of financials and otherbrands that appreciated in value, widely on social media. When PR factors. High Brand Contribution issuch as Zara, Uniqlo and Home is facing damage control, it’s too an enduring competitive strengthDepot, combined quality with price late for the reputation conversation. most often found among luxuryinto an appealing value proposition. Reputation is a core strategic brands. But not exclusively. concern. No brand gets a free Coca-Cola and two Chilean pass. Consumers continued to retailers—Falabella and Sodimac— Renewal distrust banks, no surprise. But ranked high in the 2012 BrandZ™ they also scrutinized more revered Brand Contribution ranking,Brand strength isn’t an inoculation brands like Apple, Facebook suggesting that this advantage isthat prevents problems. Stuff and Google. available to brands in any category.happens. The economy tanks.Consumer tastes change.Corrections are inevitable. Brand Reimagine Personalitystrength enabled renewal tohappen. And happen quickly. Not long ago, a huge warehouse No single brand personalityThink Starbucks or Toyota. filled with racks stacked high with guarantees success. There’s merchandise defined successful no formula. Brands in the same power retailing. Consumers in product category, but with radically Relevance those aisles now shop with mobile different personalities, can both device in hand, conducting price succeed. The key is to understandBrand heritage is important comparisons. Brands expecting a brand’s personality and thenand hard earned. Heritage to succeed in this landscape are to incorporate those traits into acan gain consumer trust. But reimagining themselves, looking for consistent brand message. Brazil’sto be recommended today ways to be present in a compelling Brahma beer is among the highestrequires being relevant. In its way in every possible physical brands in Brand Contribution.contemporary product range and and virtual reality. Tesco even Consumers think of the beer asclever communications Burberry has an interactive video wall in friendly and happy and Brahmaoffered an excellent example. the Seoul, South Korea subway. reinforces this perception in its advertising.

Introduction Take Aways 9 Harder BRICs Technology Health & WellnessWestern brands are no longer In almost any category, technology The impact of consumer concerna novelty in many of the BRIC seems to be at the center of the with health is most apparent inmarkets. Local brands are conversation. Retail is about being the decline of cola sales and theimproving in functional and omni-channel, present everywhere addition of salad and apple slicesemotional appeal. Years ago, all the time, which is only possible to fast food menus. But the trendperhaps, brand success was in your dreams or through is deeper and wider than twoabout just showing up. Not any technology. The competitive battle categories. Because we’re onlymore. Aggressively improving in cars is not about horsepower, human, we’ll continue to consumeits approach to consumers, itself a retro word, but about food and drinks that are bad for us.the Russian financial institution technical enhancements like voice- But we’ll do it less. We won’t feelSberbank was among the activated communication for driving good about it. And we won’t feelTop Risers in brand value in and controlling entertainment good about the brands that enablethe BrandZ™ Top 100 Most systems. BMWs came loaded this behavior. Coke and PepsiValuable Global Brands. with technology; so did Fords. emphasized healthier options. And they were not alone. Disruption Digital EntitlementAn entrepreneur with a good There’s never a magic wand. Butidea and minimal investment digital comes close. Its power Consumers feel entitled again.can rapidly impact any category. seems limited only by the creativity Having tightened their belts forToday’s telecom or a retailer can of thinkers and dreamers. Digital so long, they need to exhale. Inbe tomorrow’s bank. Digital makes enables brands to be ever- categories such as luxury andit possible. Category disruption present in ways that inform and personal care, individuals spentis a looming threat that brands delight people when they’re at money at all price points, morecan best handle by perpetually home on a computer, engaged to feel good about themselvesinnovating and experimenting, on a mobile device, passing a than to impress others, whetheradopting what works and compelling outdoor display or purchasing an expensiveeliminating what doesn’t. Even standing in a store aisle. And fragrance from Hermès or a moreAmazon, which perfected digital works across categories, affordable one from Clinique.the world of online shopping, as exemplified by the featureexperimented with a distribution “Digital Discoveries” on the websitepresence in the physical world. of luxury brand Louis Vuitton.

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable10 Global Brands 2012Strategic EssaysDigital opportunities, anchored by trustworthyreputation, sustain brand relevance today.

Strategic Essays Reputation 11 5. Corporate reputation can help distressed categories.Reputation, Purpose and It can infuse life into negatively perceivedProfits: Bridging the gap categories, such as energy. Corporate reputation provides a new pathway to improve brand identity, consideration and usage by building By John Gerzema David Roth positive differentiation in categories that Executive Chairman struggle with reputation and tend to be more defined by negative differentiation. A framework for change Successfully acting on these findings requires first understanding and“A business that makes to drive brand differentiation. Trust should be a central tenant of a manager’s measuring corporate reputation. We divided corporate reputation into thesenothing but money is a strategy for growth. four components:poor business.” 2. Corporate Responsibility Success: Innovative, associated with has evolved. quality products and financially strong– Henry Ford It’s moved from communications to Fairness: Well priced, offering goodCorporate responsibility activities have value for money, honest and decent in conversations.existed for nearly as long as corporations relationships with customers, suppliersthemselves. And great companies backed As society demands transparency and and other companiesby names like Carnegie and Rockefeller participation, corporations must becomereturned profits to the populace through “truly public.” On Patagonia’s Foot Print Responsibility: Respectful of employees,trusts, foundations, charities and public Chronicles website, people can click scrupulous about supply chain practicesworks. Great companies were part of the on any garment and virtually track the and protective of the environmentculture and consumers rewarded them company’s supply chain, understanding Trust: Consistently delivers on promiseswith their business. path to purchase, worker conditions and about products and services carbon foot print. And they can comment.But as corporations modernized and These four components move alongconsolidated, the focus for “doing 3. Corporate reputation builds a continuum from characteristicsgood” shifted away from the consumer brand equity. seen as “hard” and practical businessmarketplace to narrow elite audiences It helps by retaining loyalty among considerations (Success and Fairness) tothat shaped policy. The vision of the existing customers. other important issues seen as less coreenterprises diffused, while their values to business achievement and thereforebecame less clear in the marketplace. Corporate reputation helps convince “soft” (Responsibility and Trust). UntilToday we are entering a new era customers that a company is personally now these four components were notwhere corporate reputation and brand appropriate and relevant to them, which well integrated. The hard issues drovemanagement are one in the same. directly affects purchase behaviors. the business. Too often the soft issues Corporate reputation is not just about formed the “moat” around the business,New collaborative research from WPP’s creating a warm glow around a brand.BrandAsset Valuator™ and BrandZ™— an afterthought done for pragmatic It’s an impactful customer retention reasons and lacking conviction.the two largest surveys of brands in the mechanism.world—reveals that customers seek out Success today requires integratingand support companies that share their 4. The effects of corporate these components into all levels of thevalues. And they reward these companies reputation can surprise. business. This approach produces brandwith stronger brands and more loyal They are pronounced among older, more integrity, a tensile internal strength that’scustomer bases. Here are five key insights affluent and female consumers. much more durable than the “moat.”for understanding the power of corporate It is vitally important for companies toreputation and a framework for harnessing Conventional wisdom holds that understand that that they have two typesthat power to positively impact brand corporate responsibility is more important of shareholders, those who hold stocksperformance and market share. to younger people. However, older and those who buy products and services. people “walk the walk.” As people age,1. Trust is the “New Black.” their perceptions of social responsibility In fast growing markets and in startup become a stronger driver of brand choice. activity many managers already take thisAs fewer people trust brands, corporate more holistic view. Because they don’treputation can drive brand differentiation. distinguish between corporation andTrust previously did little to differentiate brand, they’re better able to translatea brand. But today, a trustworthy vision, principles and values into brandcompany has a 35 percent greater chance experiences for customers.

BrandZ™ Top 100 Most Valuable12 Global Brands 2012 shopping; mobile Internet has taken this disruption to a new level and posesSustaining brand relevance: diverse challenges. Many brands are experimenting with different approachesThe impact of new devices to the retail environment, using their physical locations as showrooms, laidon the path to purchase out for strong design appeal, rather than showcasing piles of products. Showing consumers the product in a highly compelling setting, but giving By Joseph Webb Fiona Buchanan them access to the size, model, or color UK Head of Digital Development Manager that they want via a kiosk in-store is & Technology proving a good way to evolve the in-store experience to keep pace with technology for some brands. The 28 percent of consumers who are using a mobile device to research in-store via mobile and sharing comments also create a new dynamic. Brands needThe digital revolution with their network and beyond—the to take action to ensure that they cancan be likened to a implications for brands continue to hold their own in an environment where be huge. consumers can be more knowledgeablerunaway train for than sales staff. Empowering shop-floorsome brands. Mobile intensifies teams with their own handheld devices that provide access to the latest prices,It’s very hard to board now that it’s disruption stockroom situation and consumeron its way and, even if you have a seat We have seen the Internet and reviews will help retailers stay relevant.already, it’s a far from comfortable ride e-commerce make a major impact onwith the emergence of new devices—and the ways in which consumersinteract with them—acting like yetmore unpredictable junctions in the I write about brands to...track ahead. % who agreeConstant connectivity has madeconsumers more vocal than ever before,and this word of mouth influences Share experiences 64decision-making everywhere. It hasnever been easier for the connectedconsumer to report on a bad experience, Offer advice 64in real time, while feelings are stillraw. And these comments, reviews Praise a brand 61and criticisms have an effect—with 52percent of people surveyed globallysaying that a single negative review will Ask advice 60have an impact on how they feel towardsa brand. Share answers/opinions 56 Many brands have learned that thisshift in the balance of power towardsthe consumer requires an overhaul Criticize a brand 53of marketing approaches, with theflexibility to respond to opportunities—and threats—in real-time a significant Share cool stuff from brands 51driving factor in maintaining a positivereputation. Customer service 46The biggest enabler of this powershift over the past few years has beenthe smartphone explosion. With Paid/rewarded for doing so 40approximately 30 percent of the worldnow constantly connected—researchingpurchases, comparing prices, shopping

Strategic Essays The Impact of Digital 13 for consumers to shop online will also Compare this to Indonesia, whereMeeting shoppers on the grow exponentially. Internet penetration has only reachedpath to purchase Consumers are increasingly paving their 16 percent and the majority of Internet access is via a mobile device. Here, TVBrands need to make mobile a key part own path to purchase, with a growing, plays a far larger role, with 96 percent ofof the in-store experience, ultimately device-driven autonomy from traditional Indonesian Internet users regarding TVcreating another POS channel. channels. Brand successes requires as influential—even if they are surfingApproaches for integrated mobile into harnessing these new behaviors to enable the Internet on their phone as theythe store include providing free Wi-Fi and enhance the consumer experience and watch it.and having QR codes that link to product deliver the brand message with consistencyinformation or expert reviews. Mobile across all media and purchase channels. An opportunity exists for brand ownerswallet is also slowly gaining traction and in both of these markets to deliveralready more than a third of consumers Internet penetration impactful, integrated campaigns, but thatglobally are interested in using this requires a sound understanding of whichservice, which may take us towards a influences message devices consumers use, when, why andworld without check-out queues, or and media how. These possibilities seemed far-even check-outs at all, solving a major fetched just a few years ago. Yet with The message and media approach,annoyance of the grocery shopper. devices putting consumers in the driver’s influenced by Internet penetration, varies seat, the choice for retailers and brandsIncreased tablet ownership will produce by country market. In a market like Sweden, may be less of a question of whether theymore new behavior and attitudes. We’re where more than nine out of 10 people have can keep up, but rather whether they canalready seeing tablets impact where and access to the Internet, only 31 percent of afford not to.how we shop, with highly compelling, people regard TV ads as influential, whileengaging interfaces driving out-of-store almost three-quarters (74 percent) willpurchases. As tablet penetration grows, go online to find out information aboutthe opportunities to develop new ways a product seen elsewhere.

BrandZ™ Top 100 Most Valuable14 Global Brands 2012Buzz means money: Social and digital media,vital to the health of successful brands By David Barrowcliff Specialist: Social Media Measurement 383The 2012 BrandZ™ positive mentions, together with the Millward Brown BrandZ™ measure of of 1 to 10, 10 being the most positive score. The Top 10 “Earned Buzz”Top 100 Most Valuable online fans (FanZ Index). brands averaged a score of 8 in BrandGlobal Brands As might be expected, the brands with Momentum compared with a score of 6 for the bottom 10.comprises many of the more fans created more “Earned Buzz.” So what are the “Earnedgreat and the good, But the crucial finding is that brands with Buzz” Top 10 brands? more fans and “Earned Buzz” levels arethe different and the much more valuable. They are completely dominated by USspecial, and the most And brand value growth is significantly technology brands, and even the one retailer, Amazon, is fundamentally atalked about. better if buzz is better. The Top 10 technology brand. The entertainment “Earned Buzz” brands grew on averageWPP social media monitoring company, brand Disney is also becoming heavily by 5 percent in value last year, while theVisible Technologies, carried out an dependent on the digital space. bottom 10 declined 8 percent.audit of the digital social and traditionalbuzz for each of the Top 100 brands over The future also is brighter. The Brandthe last year. From this we have created Momentum Index measures the The “Earned Buzz” Top 10an “Earned Buzz Index”, weighted by prospects of future earnings on a scale Rank Category Buzz Index (average 100)More buzz and fans means more value 1 Facebook 1,331 Value $511bn 2 Google 1,229 3 Apple 1,093 EX 4 eBay 475 Z IND 5 Microsoft 442 BUZ NED 6 Sony 437 EX EAR ND 7 Amazon 425 ZI N FA DEX FAN Z IND EX D E X 8 Samsung 301 Z IN IN F AN UZZ Z IND EX EARNED B 9 HP 282 FAN ND E X EARNED BUZZ I 10 Disney 280 $112bn Earning the privilege of being talked about is one of the assets2012 BrandZ™ Top 100 in groups of 10 by level of “buzz.” of an interesting, meaningfullyBrands with higher value have more fans and more “Earned Buzz.” different brand.

Strategic Essays The Impact of Digital 15 iTunes or Google models have provided the creative industry. In contrast, rightMore than a megaphone: now, when we build an interactive out of home app, we often also have to buildInteractive digital the platform on which it will reside. Once interactive out of home platformsengages people become permanent fixtures in our landscapes, and “all” developers have to do is create exceptional immersive experiences for people, we’ll see a huge By Eric Mauriello surge in transformational work that will Senior Vice President not only surprise and delight people—and turn them into brand-loyal consumers— but can actually improve the quality of life. The work that Possible recently did for the Bill and Melinda Gates Foundation’s Visitor Center demonstratesIt’s not just what brands example, incorporated both augmented reality and a large-format video wall, both pretty dramatically what can happen when people are able to interact intelligentlysay that matters, it’s of which enticed passersby into “morphing in DOOH environments. Fourteenwhat they do. stations” to transform themselves into a Na’vi, the blue skinned species from interactive exhibits educate people about important global issues and enable themAnd yet, even as Digital Out of Home the movie. Yahoo’s Bus Stop Derby let to contribute ideas for improving the(DOOH) becomes more and more a part participants engage with other people world. As the proverb says: “Tell me andof our physical and imaginative landscape, at other bus stops, in real time, through I’ll forget; show me and I may remember;brands are still using the platform mainly as competitive social games. involve me and I’ll understand.”a megaphone—to shout at people as theyrace past in their cars or mosey through As another example of effective interactivethe mall. out of home, we at Possible Worldwide recently unveiled the Macy’s “Beauty Spot,”Sometimes there’s a twist, such as the a multi-branded in-store area, anchored byintelligent billboards in the Tokyo a large-format touchscreen, that providesrailway system that change up their cross-brand information, inspiration, andads depending on the perceived age/ recommendation to customers. We couldgender of the person looking. But at least have installed a digital billboard in exactlyfor the moment, DOOH concentrates the same place, but by making the Beautyon advertising to consumers without Spot interactive and linking it to theoffering them any new benefit specific user’s mobile device and social networks,to the locational, interactive potential of we delivered shoppers a satisfying multi-the platform. Except making it easier for channel experience, bringing aspects ofadvertisers to sell and publish content. the website, the customer’s digital identity,In fact, I would go so far as to venture and the mobile experience together inthat, currently, DOOH benefits media a way that bolsters the Macy’s brand bycompanies more than it does either making people feel both excited to explorebrands or consumers; with the ability their favorite brands while being in controlto change digital signage every hour of their time and level of commitment. Tryvia computer, advertisers can sell more doing that with a digital billboard, even ifinventory, with much less effort. Brands the glossy ads change up every minute.should be encouraged to rethink DOOH Innovation needs someas “Interactive Out of Home”—that is,as an opportunity to do something with standardizationthe audience: engage them, entertain Part of the problem with innovating inthem, above all, get them to participate. the out of home market, of course, is that it’s in its nascent stages and thus mostSome brands get it right deployments are bespoke, for particularThere are definitely brands out there that clients and situations. Standardizedare getting it right and working interactivity backends, platforms, and ecosystemsinto their DOOH environments. have resulted in an explosion of growthTwentieth Century Fox’s Avatar Na’vi and innovation for the Web and mobile;campaign promoting “Avatar,” for think only of the opportunities that the

BrandZ™ Top 100 Most Valuable16 Global Brands 2012Metail is the new retail: Skills of a metailer:Brand owners and retailers Merchant prince meetsface a new world mathmetician We have moved from a world of anonymous and captive customers, By Michael Ross to a world where they are known and unshackled; from a world where Co-founder and Director retailers were distinct from brand owners to a world where each is morphing into the other. In a world centered on stores, and related characteristics that directly retailers simply need to be good atThe Internet has impact their purchasing behavior. stores. It’s relatively easy to identifycatalyzed fundamental – Freedom The unshackling of good and poor performing stores and to understand what is workingchanges across the customers from location has broken and not working. the traditional retail model. Other thanentire retail system. products for immediate But in a world of hundreds ofAt the heart of the changes is a dramatic consumption, consumers now have thousands, if not millions, ofshift in retailing priorities. Location, access to an almost unlimited set customers, a retailer needs to belocation, location is giving way to of brands and products, and to good at statistics to make sense ofcustomer, customer, customer. retailers across the globe. For most large quantities of transactional data. categories,consumers are voting withThis transformation is so pervasive that This requires a different skill set, new their mouse. Online is now a largeany business that merely tries to adapt types of thinking, new models and and growing part of the retail mix.piecemeal will struggle. For both retailers new equations. The key elementsand brand owners to succeed in this new – Empowerment Information about include:world, they need to learn from each other products, prices, availability andand become more like each other. The performance is instantly available via - culture of metrics and data, Ashift is creating in a completely new type PCs, mobile phones and tablets. with data scientists at the heartof merchant, a blend of retailer and brand of the business For brand owners, the Internet enablesowner—the metailer. direct access to a global pool of customers. - trategy driven by consumer SThe notion of metailer evolves naturally That means brand owners no longer insightfrom how the Internet has changed retail need to rely on retailers and can adoptfor consumers, brand owners and retailers a radically different distribution strategy - usiness planning driven by Bthemselves. The Internet has left no part based on online, flagship stores and customer acquisition andof the retail system untouched. The old very selective wholesale distribution. retention dynamicsrules don’t work and the old labels no And brands benefit from the resultinglonger describe the current reality. For improved margins and deepened - n organization centred around Athe most part, this new world is good for customer understanding. coherent customer groupsconsumers and brand owners. But it’smixed for retailers. Retailer benefits - easurement of all the things that MThe Internet benefits come with problems matter to customers For retailers, the Internet brings a mixconsumers and of benefits and problems. The ledger is The successful metailers will be the ones who embrace this newbrand owners tilted slightly to the positive, which is world by adopting this cultural shift. fortunate since the Internet is impossibleFor consumers, the purchasing process The battle for customers is just to ignore. The good news for retailersis completely different than what it once beginning. includes these developments:was. Today consumers have much moreinformation, choice and control over – reater access to more customers Gwhat and how they buy. The Internet has Traditional retailers gain access toendowed consumers with two important customers outside the catchment area of their physical stores.

Strategic Essays The Impact of Digital 17– ore touch points Cross-channel M In today’s world, metailers have much interaction deepens relationships with more sensitive diagnostic information existing customers and makes derived both from the physical and virtual it easier to acquire new customers. store activity. They can determine, for– ore customer data Many retailers M example, not simply that a particular struggle to gain customer insight. physical store is underperforming, but also Much more insight is available and the how customers are shopping, which skus Internet makes it easier to obtain it. they may be browsing but not purchasing.And here’s some of the bad news Metailers can have insight and canfor retailers: take action at the individual customer level. This is not necessarily just about– ore competition More retailers M personalization or loyalty, though it could and brand owners are moving be. It is simply about recognizing these online, opening up internationally or two key related points: creating niche boutiques, which all heightens competition. – Customers drive retail growth.– estricted access to some R – ost effective acquisition and C products As brand owners retention of customers drives increase direct engagement, profitable growth. retailers will find that some of their So understanding individuals—their bestselling brands abandon them. purchasing patterns, their behaviors, their wants and needs—is critical toTo succeed in this universe, retailers need optimizing any commerce business.to manage their businesses differently. Failing to understand is a recipe for sub- optimization. In a competitive market,Introducing metailers sub-optimization is a recipe for failure.The old model was linear. Thecommercial activity moved from thebrand owner through the retailer tothe customer. Today, the customer isthe center of the universe, the “me” inmetail, communicating directly withboth the brand owner and the retailer.The terms retailer and brand ownerbecome misleading and obsolete. In aworld where successfully selling productsand services depends primarily onprofoundly understanding the customer,the brand owner and retailer are in thesame business.Both try to understand the customerand to customize the offering to meetcustomer needs. Both engage withcustomers in multiple channels toprovide a brand, or many brands. Bothare metailers, especially when theyexhibit a customer-centric outlook andexpertise in data analysis.Succeeding at metailIn the past, retailers depended on keymetrics, such as profit-per-store, todetermine the health of the enterpriseand to insolate any problems, which theywould remediate with store-level fixes:open, close or refit a store and fire or hirea manager.

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable18 Global Brands 2012Fast Growing MarketsThe 2012 BrandZ™ Top 100 Most Valuable GlobalBrands reveals a new phase in the development ofbrands in fast growing markets.

Fast Growing Markets Overview 19 In 2006, the BrandZ™ Top 100 included the Chinese oil and gas giant Sinopec only two fast growing market brands, appeared in the Top 100 for the first time,As BRICs slow, from China. Less than a decade later, fast growing markets account for one-inas did Moutai, a leading brand of baijiu, China’s traditional clear alcohol.new markets five brands in the 2012 Top 100. During this period, the value of brands from Similarly, Petrobras, Brazil’s oil and gas company, declined and two Brazilian bankand brands fast growing markets in the Top 100 increased in value by 663 percent. brands, Itaú and Bradesco, fell below the Top 100 in value. But three Brazilianemerge But in the 2012 BrandZ™ Top 100 Most Valuable Global Brands the rate brands—the beers Skol and Brahma, and the cosmetic producer Natura—ranked of brand value appreciation in the fast among the Top 15 brands in Brand growing markets slowed. Some factors Contribution, the measure of how brandDuring the past decade, were country specific. The attempt itself, rather than financials or other to moderate inflation contributed to factors, contributes to earnings.these markets, especially the economic slowdown in India and Russia’s telecom MTS declined. Butthe BRICs—Brazil, Brazil, for example. But, overall, the following a major effort to refresh the BRIC deceleration illustrated theRussia, India and interdependence of nations in a global brand, the financial institution Sberbank increased in value 25 percent, which placedChina—served as the economy. China reduced demand it among the BrandZ™ Top 20 fastest for commodities from Brazil. And allmostly dependable the BRIC countries felt the decline risers. While the Indian bank ICICI declined, the Indian telecom Airtelengines of global in demand from financially troubled appeared in the BrandZ™ Top 100 ranking countries in the Eurozone.economic growth. And for the first time. The first African brand, Value declines for MTN, a South African telecom, debutedeven during the in the ranking.economic crisis of 2008 some brands, but new brands appear Two Chilean brands appeared for the firstand 2009, the total time in the BrandZ™ ranking of brands As the spotlight dimmed on some in the retail category. An operator ofvalue of the brands from brands, at least temporarily, other brands department stores and specialty outlets,fast growing markets emerged from the shadows. China Falabella is one of South America’s largest Mobile, the country’s most valuable retailers. Sodimac, a Falabella company,continued their brand, and China’s most valuable bank is a consumer home improvement andsteady climb. brand, ICBC, declined. At the same time, B2B construction materials retailer. Value of brands since 2006 663% NON-FAST GROWING FAST GROWING ALL TOP 100 Fast growing market brands experienced sharper growth than either the non-fast growing market brands or the Top 100 over all. Brand value growth in fast growing markets helped compensate for the difficulty in banking and certain other categories during the 47% 66% financial crisis of 2008 and 2009. Source: BrandZ™ data

BrandZ™ Top 100 Most Valuable20 Global Brands 2012Current results suggest 2006 2007 2008 2009 2010 2011 2012future directionThis maturation of fast growing market China 2 5 5 6 7 12 13brands reveals several trends that point Russia 1 2 2 2 2to likely future developments.1. The representation of fast growing Brazil 1 2 3 1market brands in the BrandZ™ Top 100will increasingly include brands from India 1 1 2both the BRICs and other nations fromAsia, Africa and Latin America. Mexico 1 1 1 Africa 1 TOTAL 2 5 6 9 13 19 20 Although the presence of fast growing market brands in the BrandZ™ Top 100 ranking slowed last year it continued and expanded to include Africa for the first time. Source: BrandZ™ data2. Brands from the fast growing marketsare predominately in infrastructure Fast Growing Marketsand financial categories, reflectingtheir status as state-owned or state-controlled enterprises. But technologybrands also appear because of the 14ubiquity of technology and expandingentrepreneurship. Over time, the 13 44fast growing market brands will bepresent in many more categories,cultivating consumer allegiance athome and increasingly seeking new 29opportunities abroad. Other Markets 12 12 43 Financial 33 Telecoms Tech Other Fast growing market brands are especially represented in financial, telecoms and other categories typically dominated by state-owned or state-controlled organizations. The categories in which brands from fast growing markets are present will become more diverse over time. Source: BrandZ™ data

Fast Growing Markets Overview 213. Compared with brands generally, The BrandZ™ Pyramid illustrates thethe BrandZ™ Top 100 score higher building blocks of a brand’s connectionin the BrandZ™ metrics about Trust, with its customers. The Pyramid isRecommendation and Desire. Brands built on a foundation of “presence,” orfrom fast growing markets score even awareness of the brand, and culminateshigher in these metrics than the Top at “bonding,” which measures the BRIC FOUNDATIONS100 overall. And while the Top 100 also emotional attachment when a customerexhibit a much more robust BrandZ™ believes that a brand offers more POPULATIONPyramid than brands generally, the fast advantages than its competition.growing market brands again outperform AND GDPthe Top 100 overall. The four BRIC countries include 42 percent of the world’s population but account for only 17 percent of its GDP.Fast Growing 2010 2010 population GDP ($B)Bonding 22 Brazil 191 million 2,024Advantage 59 Russia 142 million 1,477Performance 63 India 1,192 million 1,430Relevance 77 China 1,342 million 5,745Presence 91 BRICs 2,867 million 10,676All Top 100Bonding 12 BRICs % of worldAdvantage 40Performance 49 PopulationRelevancePresence 58 73 42%All brands GDPBonding 4 17%Advantage 25Performance 34 Sources: Global TGI, National census authorities; International Monetary FundRelevance 40Presence 52The BrandZ™ Top 100 outperform brands in general at all levels ofthe BrandZ™ Pyramid. Brands from fast growing markets performeven better, indicating that they have achieved a close connectionwith customers.Source: BrandZ™ data

BrandZ™ Top 100 Most Valuable22 Global Brands 2012 the past, the government organizes the the BrandZ™ ranking of personal population into hierarchical economic care brands and earns a high score for classes, A to D, wealthiest to poorest. Brand Contribution, which measures As in many societies, the wealthiest the portion of brand value attributable individuals remain well off or even directly to the brand rather than to become wealthier. The distinction financial performance or other factors. in Brazil, over the past decade, is the broadening of the middle class, or in Brazilian categories, the ascendency of people from D to C and from C to B. Since 2003, roughly 40 million Fundamentals for brand building in BrazilBrazil Brazilians—out of a population of 200 million—have entered the middle class. The C class now includes about 1. Reach out digitally half of Brazil’s population according to Brazilians are among the most TGI. This demonstration of national wired people on the planet. ThisExpanding conscience and self-sufficiency has burnished the nation’s self-image and interconnectivity helps cross the social and economic divides, whichmiddle class unleashed spending that impacts brands across all categories, with credit widely are narrowing but sill exist. 2. Be prepared fordrives brand available from credit cards, government programs and through employers. competition International brands enteringgrowth Many Brazilian and multi-national brands had largely ignored or underserved or expanding in Brazil are likely to encounter both eager much of the low-income population with and welcoming consumers poorer quality products provided in big and increasingly tough local economical and unattractive packaging. competitors.Brazilians feel optimistic They now accord these consumers 3. Recognize distinctive increased attention and respect.about the future relative cultures Because Brazil is a geographicallyto most of the world’s Consumers adopt large and demographically diversepopulation. spending strategies country, successful brands recognize that making an impactAround 70 percent of Brazilians believe Over time, Brazilian consumers on consumers requires adaptingthat the country’s financial situation is perfected strategies to bridge the gap to many local cultures.going “well” or “fairly well,” compared between what they aspired to buy andwith a global average of 39 percent, what they could afford. In the past, low- 4. Be emotionalaccording to the Global Monitor study income consumers might pay one or two Brazilians respond positively toof The Futures Company. Because the reais for a bottle of private label cola, brands that create an emotionaleconomy slowed last year, however, the for example. Today, they often spend a bond. While rational reasons forpositive attitude of most Brazilians is few more reais to buy Coke because it’s purchasing products and servicesmoderated by some doubt about both affordable, if more expensive. remain important to Brazilianthe country’s economy and their personal consumers, they are especially loyal But they may alternate their purchasefinances, The Futures Company found. to brands that earn their affection. of Coke with a private label, reservingThe underlying optimism is based on Coke for special occasions and a 5. Help build Brazilseveral factors that transformed the weekend treat, while drinking private Becoming a genuine and activeBrazilian economy and accelerated the label on weekdays. Similarly, consumers participant in the effort to raise livinggrowth of brands during the past decade increasingly mix brand and private label standards and reduce inequities willincluding: consistent government focus in the personal care category where ultimately benefit the brand.on improving social and economic many products offer both functional andequality; a thriving economy, despite the emotional benefits. A female shoppercurrent slowdown; increased availability might purchase a relatively low pricedof credit; and national cohesiveness shampoo for general family use, but theand pride with growing excitement in Brazilian brand Natura for herself.anticipation of the 2016 Olympics and Natura, Brazil’s leading manufacturerWorld Cup in 2014. and marketer of cosmetics, emphasizesPerhaps indicative of the wide income natural and socially responsible products.disparity that has divided Brazilians in It’s among the category leaders in

Fast Growing Markets Brazil 23 Major global marketers, like Unilever,Spending touches recognized growth potential in Brazilmost categories at least a decade ago and began enjoying the results in the past fewRetail brands are organizing their years. P&G increased its investmentbusinesses to serve the new middle class during this period, becoming a major BRIC FOUNDATIONSconsumers. Grupo Pão de Açúcar, the sponsor of popular TV programs andnation’s largest retailer with a portfolio of1,800 stores, operates three supermarket cross marketing its products under the CONTEMPORARY corporate umbrella brand.brands, each targeted to a particular ATTITUDESdemographic group. The international Some global brands, such as Nescafé, On the subject of technology,hypermarket brands, such as Carrefour have been in Brazil so long that differences narrow among theand Walmart, are opening smaller stores consumers think of them as Brazilian. BRIC markets and between thecloser to the economically transforming The local beers Skol, Brahma and BRICs and the US and Europe.urban neighborhoods. Antarctica enjoy tremendous popularity In fact, relative to the US and as Brazilian brands, although the globalTAM, the largest airline of Brazil and Europe, more people in the brewer AB-InBev owns them.Latin America, and the carrier GOL BRIC markets say they try toare among the travel brands benefitting keep up with developments inas consumers spend their growing Learning to communicate technology. Of the many reasonsdisposable income on travel. Leading Many Brazilian brands are learning how that might explain this finding,bank brands, such as Bradesco and Itaú, to communicate with the same expertise perhaps the most compellingare adding branches, especially in the exhibited by the multi-nationals. They’re is that technology enablesfavelas and other poorer neighborhoods. experimenting with social media, for and accelerates change. In example, attempting to use it more for a the West, for example, mobileCielo and Redecard, brands that develop relationship-building opportunity rather phones added convenience.credit card networks and process than another sales channel. In markets lacking significantpayments, also are expanding to serve the telecommunicationsrising middle class, as is Multiplus, which Mobile communication potentially infrastructure, mobile phonesdevelops loyalty programs. Ownership of offers a major brand marketing helped transform societies.credit cards increased from 46 percent of opportunity because Brazilians are soC class individuals in 2005 to 53 percent wired. According to some estimates, thein 2009, according to TGI. Store brand number of cell phones in Brazil exceeds “I try to keep up withcards increased from 15 percent of the the size of the population. The brand developments in technology”C population to 25 percent over the marketing challenge, for now, is that % who agreesame period. only a small percentage of these devices are smart phones. But 65 percent of 58 51 50Brazilians like Brazilians use the Internet everyday, 48 47 43 according to the TNS Digital Lifelocal brands Study, which also found that BraziliansThe positive way Brazilians feel about build some of the most extensivetheir country extends to Brazil’s brands, social networks in the world, with an Brazil Russia India China US Europesuch as Natura or Havaianas, producer average Brazilian network consisting ofof the world’s most recognizable flip- 481 friends.flop sandal. Even Petrobras, the nationaloil and gas giant and the nation’s mostvaluable brand, is held in high esteem. Source: Global TGI research based on analysis of 20-to-54 year-olds in the largestIn contrast to developed markets, cities in BRIC markets and a countrywide sample in the US and Europe (UK, France,where consumers regard oil companies Germany, Spain)with suspicion because of their sizeand environmental impact, Braziliansappreciate Petrobras for driving theeconomy and providing employment.The brand reinforces those attitudeswith sponsorship of cultural, sportingand educational initiatives. Althoughthe Petrobras brand value declined,it remains one of the world’s highestvalued oil and gas companies, ranking 75in the BrandZ™ Top 100.

BrandZ™ Top 100 Most Valuable24 Global Brands 2012 standards; and third, the government. Several years ago, reacting to the explosion of Western goods available in Russia, President Vladimir Putin Fundamentals for brand challenged the nation’s businesses to develop strong Russian brands. building in Russia 1. Know your customer Transforming from If you are selling dreams, status or institutions to brands conspicuous consumption, you’ll find plenty of buyers, especially This combination of individuality in Moscow and increasingly St. and national pride is most evident inRussia Petersburg and other metropolitan the transformation of many heritage areas. For products or services to names that historically succeeded as meet everyday consumer needs, national institutions rather than as however, Russians are driven by brands competing for customer loyalty. quality and will no longer pay more This trend is clearly articulated in theTurning point rebranding of Sberbank, the nation’s largest bank. Established 170 years ago, just for a foreign brand. 2. Expect the unexpectedas consumers the bank’s history includes its formation in czarist Russia and adaptation to the Russia offers tremendous opportunity for brands. But theseek brands, Soviet bureaucracy. Today, Sberbank is deeply involved in a rules of the game—the decision- making process, business prioritiesnot institutions retail redesign project to better identify and serve segments of the consumer and consumer preferences—can be different than in the West. Schedules constantly change market. The bank is upgrading its and everything takes longer than 22,000 branches to one of eight different expected, so be flexible. designations that include flagship locations,The deep sense of VIP centers, business centers, 24-hour self- 3. Do the researchRussian identity that service lobbies and kiosks for performing Russia is one place that often transactions including bill paying. Most disproves the “branding is global”permeates most aspects importantly, the change is not simply approach. One size rarely fits allof life in this country now cosmetic. It suggests an organization that in this huge country, especially has turned its face to the consumer both in when the brand originates in theextends to brands. visual effects and attitude. Americas. The right research canHaving learned about brands from the save bundles in time and money. The Sberbank example reflects anWest, copying is no longer sufficient. emerging interest by many Russian 4. Show respect andRussian companies are beginning to brands to segment their audiences and appreciation for theintroduce new brands and reenergize create targeted offerings. Other venerable Russian cultureold ones, infusing them with Russian institutions engaged in significant Russians are proud of theiridentity and global best practices. rebranding efforts include: Aeroflot, country. Even when they criticizeChanging consumer attitudes influence established in 1923, and the Russian it themselves, they may notthis trend, which is especially evident in Railways. The descendant of Russia’s appreciate having others join in.retail. With increasing prosperity, brands Department of Railways, formed in 1842, Russians take great pride in theirare more important to consumers. And, and completion of the Trans-Siberian cultural heritage and expect the restmore experienced with brands, Russian Railway in 1905, Russian Railways of the world to admire it as well.consumers are becoming practical and rebranded to abandon its staid image 5. Be prepared to spend timesophisticated shoppers, less impressed and emphasize the future, technical At the end of the day business getswith a brand simply because it’s Western competence and customer focus. done, but expect a long period ofand more determined to find the right socializing and getting-to-know-price/quality balance. Growing the private sector you conversation before businessAt least three constituencies also drive The more contemporary Alpha-Bank, is discussed. When Russians getthis effort to create world-class Russian connected its twentieth anniversary down to business, they tend to bebrands: first, well-traveled Russian with a birthday celebration for Moscow. more direct in their response andconsumers whose exposure to the West The outdoor extravaganza included a open criticism is socially accepted,raised expectations; second, Russian dramatic laser show projected on the so feedback often starts with “No.”entrepreneurs who aspire to create façade of the landmark Moscow Stateproducts that meet or exceed Western University building, and a sky filled

The Fastest Growing Markets Fast Russia 25with fireworks and thousands of balloons. are assigned to light beers, ales andThe bank intended the production to other parts of the range. The brewersupport its brand-building drive and continuously identifies groups that arehighlight its association with innovation underserved and creates an appropriateand leadership in banking technology. beer. Owned by Denmark’s Carlsberg Group, Baltika is exported worldwide. BRIC FOUNDATIONSThis proclivity for proactive brand buildingbeyond simple advertising is especiallypronounced in retail. Savage, a fashion Expanding internationally THE IMPORTANCEbrand, captured the spirit of the times As Russian brands gain national OF BRANDSwith the theme “be true to yourself.” recognition, they increasingly seek Consumers in the BRIC countriesCentro, a mass-market shoe brand shifted international expansion opportunities. are more brand loyal comparedits emphasis to affordable fashion from Some fashion brands have opened stores with consumers in the US andprice alone. To differentiate from the in Eastern Europe. Yandex, the market- Western Europe. They alsocompetition, and establish itself as a brand leading search engine, serves many of the appreciate value, according torather than a multi-brand emporium, the nations of the Former Soviet Union and TGI research, which found thatconsumer electronics retailer Eldorado has wider expansion aspirations, having many agree with the statement,refurbished its stores to project the brand launched operations in Turkey in 2011. “It’s worth paying extra forpromise to make life easier through The brand enjoys a reputation for strong quality goods.” Word of mouthproducts, shopping experience and performance coupled with aggressive is significantly more important intechnical support. M-Video, another marketing. It was the first Internet brand BRIC countries. People are moreelectronics retail leader, focuses intently in Russia to advertise on TV. Along with a likely to ask advice before makingon understanding its customers. search facility that enjoys over 62 percent a purchase, a behavior that couldThe Russian government has market share in Russia, Yandex also offers a reflect lack of experience withaccelerated this emphasis on brands menu of online services including a shopping certain merchandise or simply anwith a privatization program that touches mall and YandexMoney, a payment system. inclination to conduct more diligentmany categories of products and services It’s noted for maps that include a traffic jam research before spending money.and has resulted in many Initial Public monitoring tool. Also in the technologyOfferings (IPOs). Russia’s second largest category, the Russian-owned multi-national “Once I find a brand I like Ibank, state-owned VTB, completed an computer security company Kaspersky Lab tend to stick with it”IPO in May 2011. Rosneft, the oil and enjoys a strong B2B reputation. It operates % who agreegas giant, completed an IPO a year earlier. in roughly 30 countries. Brazil 70 Russia’s energy giants, like Gazprom,Facing Western-type Rosneft and Lukoil, operate across Russia 72 India 73brand challenges national boarders. Gazprom has acquired China 72 companies in Central and Western US 40Becoming a brand means facing brand Europe to serve the natural gas needs of Europe 61challenges. As in the West, Russia’s consumers in those markers. Overseasthree leading telecommunications offices enable the companies to navigate “I ask people’s advice beforebrands—MTS, MegaFon and Beeline regulatory issues, which tend to be buying new things”struggle to differentiate and defend stricter in Europe and North America % who agreetheir leading positions. Competitively, compared with Russia. Lukoil is focusedthey’re squeezed between state-owned on renewal energy and has established a Brazil 47Rostelecom and two relatively new presence at the pump in the US.privately owned operators, Tele2 and 52 RussiaYota. To increase consumer appeal in Recent large acquisitions also reflectthis competitive environment brands confidence in the Russian market and in India 60 39 Chinaincreasingly offer bundled services. Merger Russian brands. PepsiCo acquired Wimm-and acquisition activity has increased. Bill-Dann, one of Russia’s two major US 44 dairy producers. Groupe Danone SA, the 27 EuropeRussia’s beer brands are preparing for French company, formed a joint ventureregulations that will prohibit television with the country’s other major dairy brand,advertising as of July 2012. In a unique Source: Global TGI research based on Unimilk. Late in 2011, Unilever bought a analysis of 20-to-54 year-olds in the largesteffort to leverage the brand, and reach majority stake in Kalina, Russia’s leader in cities in BRIC markets and a countrywidevarious segments of the market, Russia’s sample in the US and Europe (UK, France, personal care and beauty. Germany, Spain)leading beer, Baltika, offers 13 variationsof Baltika, each numbered and brandedwith the Baltika name. Baltika 3, forexample, is a popular lager, while Baltika7 is a premium brand. Other numbers

BrandZ™ Top 100 Most Valuable26 Global Brands 2012 This duality, to an extent, depends on interests that eventually produces more product category. In fashion, footwear opportunities. In this complicated and accessories—categories that exhibit process, the multi-nationals gain market personal taste or status—foreign brands expertise from their local partners, exert great appeal. When Indian heritage while the partners learn from the multi- is a consideration—which also could be nationals and gain time to strengthen in fashion and accessories as well as their own retail brands. Meanwhile, food and beverages—local provenance anticipating the eventual end of the becomes important both for domestic FDI regulations, all the major players consumption and export. invest in much needed improvements to infrastructure including roads and Consumers also prefer local brands that refrigeration for food. excel at innovating and improvising toIndia create products that precisely meet local needs. This resourcefulness, considered a particularly Indian talent, is known by the Hindi word Jugaad. In anotherDiverse market characteristic unique to India, large conglomerates control much of Fundamentals for brand building in IndiaDifferent the Indian economy, and consumer trust often depends on a combination ofDetermined 1. Be meaningfully different corporate and brand reputation. Indians generally like brands. Conglomerates and And they are familiar with many government influence brands from the West and other brand growth markets. Success requires bringingIn India, many people something new and different. Usually run by powerful entrepreneurialwho drink cola prefer families, the leading conglomerates 2. Be consistent in thoughta local brand. Sports include Tata, Reliance and Bharti. They and execution These qualities will help to build operate in multiple industries, suchfans follow cricket as telecommunications, cars and retail, trust in the brand.rather than football. And and market many of India’s leading 3. Take into account the brands. As in other BRIC countries,while brands matter, the government also influences the regional differences Many countries are diverse. Buta brand’s reputation rise of local brands with regulations few are as large and distinctive as that moderate the entrance of foreignoften is closely linked companies. India in language, diet, beliefs and customs.with that of the parent Early in 2012, India relaxed restrictions 4. Emphasize fashion, ifconglomerate. on single-brand retailers, enabling possible brands such as Nike to expand more For some categories, such asIn other words, as a consumer society, freely. Walmart, and retailers that sell telecoms, cars or banking, IndiansIndia is much the same as the rest of multiple brands, must combine with might prefer an Indian brand. Whenthe world and also very different. This an Indian partner and operate only it comes to fashion, however,paradox informs the growing importance wholesale outlets. Walmart entered India international brands tick all theof brands in a rapidly transforming society in a joint venture partnership with Bharti. boxes.of more than a billion people of diverse Tesco partnered with Tata.languages, cultures and beliefs—a few 5. Remember it’s aincredibly wealthy, others entering an An effort to liberalize the Foreign Direct democracyexpanding middle class and many still Investment rules (FDI) failed during India is the world’s largestextremely poor. 2011. The regulations are primarily democracy, which means that designed to protect the estimated eight working underneath apparentMarketing approaches that work in other million mom and pop grocery stores in chaos and slow process is aparts of the world are not automatically India. By entering India as wholesalers, system that respects the individualeffective in India where individuals at all rather than retailers, the big box multi- and attempts to fairly balanceincome levels are being exposed to brands nationals became suppliers of the mom competing interests.either through travel, entertainment or and pops rather than their competitors.the increasing presence of global brandsin India. While desiring international Because this is India, the preferredbrands, Indians also are increasingly self- outcome is not just one winner, butconfident about their national identity. instead a reconciliation of competing

Fast Growing Markets India 27Understanding market Aspiration becomesdiversity is key a factorPenetrating India also requires Greater prosperity also impacts theunderstanding the country’s rich car category, which is experiencingdiversity. The local dairy brand Amul, increasing sales and brand segmentation BRIC FOUNDATIONSformed as a farmer cooperative in 1946, both at the high and low ends of theis well regarded, for example, because market. Tata’s repositioning of its Nano DEMOGRAPHICSit’s trusted and its products appeal brand illustrates these developments.to the Indian palate. Similarly, the Tata introduced the Nano, in 2009, as India is the most distinctivedominant cola brand in India is Thums an entry-level car for people transitioning BRIC country based on age andUp in part because of its somewhat from two-wheel to four-wheel vehicles. household size. India is younger.spicy taste and its consistent positioning Marketing emphasized relative safety Compared with the other BRICs,as a macho drink with a strong flavor. and affordability. When sales flattened the US and Europe, India is theCoca-Cola purchased Thums Up in the after an initial surge, Tata realized only country or region whereearly 1990s. that customers liked the car but not the majority of the population its association with their limited (51 percent) is 20-to-34 yearsAnd as often is the case in fast growing financial circumstances. old. Indian households aremarkets, consumer product multi- larger. Almost half of the nation’snationals, such as P&G or Unilever, Adding some amenities, Tata made households include more than fiveintroduced brands to India years ago. the car more aspirational. Customers, persons. Household size in theUnilever, for example, arrived as Lever it seems, wanted a symbol of new other BRIC countries more closelyBrothers in 1933. Since merging with possibilities not a rearview reminder of resembles the US and Europe.an India company over 50 years ago their recent and limited past. The Tatait’s operated as Hindustan Unilever. In brand overall has benefited from the knowledge gained from its acquisition of Agesome cases the multi-national brands upscale Jaguar Land Rover, although the % of populationare so insinuated into the market they’reconsidered Indian. Maggie Noodles, marketing for those brands has been low 35-54popular in India and other Asian markets, key so far. The rising Indian economy 20-34is a Nestlé brand. The Maruti Suzuki car, continues to drive sales of other Indianone of the first popularly priced cars in car brands, such as Mahindra.India is seen as an Indian brand. Exports are increasing, too, particularly 49 54 to Africa where the Mahindra brand 56 59 61 62The proliferation of local brands is mostevident in telecommunications where exports its less expensive models. Tata15 operators resist consolidation and trucks are popular in Malawi. The Indian 51 44 44 brands best known internationally are 41 39 38battle for a share of almost 900 millionmobile phone subscribers. The Indian the IT giants Wipro and Infosys, which provide B2B solutions in most industry Europebrands have done a relatively good job Russia China Brazil India sectors, and ICICI Bank. A major USof differentiating in a category wheretelecoms worldwide struggle against integrated financial institution, withbeing viewed simply as the commodity offices worldwide, ICICI ranks in the 11 7 15 22 24conduits of voice and data. BrandZ™ Top 100. 46 58 ICICI competes with other growing 45 53 67One of the pioneer brands, Airtel, known Indian bank brands such as HDFC and 51for its network strength, appears in the 48 Axis Bank. 36BrandZ™ Top 100 ranking for the first 33 27 26 25time this year. Vodafone Essar focuses Even in banking, a global brand implies a 6on customer care. Another brand, Idea, greater sense of status than a local Indian Household sizeemphasizes value-added services and brand, generally. In practice, however, % of populationhas built awareness with advertising. people in smaller, rural markets may find 5+ personsPrice competition heated up in the that the Indian bank brand understands 3-4 personscrowded telecom sector last year when their needs more deeply. And 1-2 personsTata DoCoMo lowered prices. With government regulations may provideextensive market penetration, the regulatory protection for the local brand. Source: Global TGI research based ontelecom leaders are shifting their efforts Amid all of these developments and analysis of 20-to-54 year-olds in the largestfrom gaining new users to increasing apparent contradictions it’s important to cities in BRIC markets and a countrywide sample in the US and Europe (UK, France,per-user engagement and revenue. remember they’re shaped by India’s long Germany, Spain)The change in part reflects growing history and modern status as the world’sconsumer affluence. largest democracy.

BrandZ™ Top 100 Most Valuable28 Global Brands 2012 improved functionality, Chinese brands face the challenge of improving emotional appeal. Even Chinese financial institutions and Fundamentals for other large State Owned Enterprises brand building in China (SOEs) now take branding more seriously as they compete against each 1. Expect sophisticated other and expand abroad to markets consumers where they are relatively unknown. This Educated by their increased year, 13 Chinese brands are included in exposure to both overseas the BrandZ™ Top 100 Most Valuable and domestic brands, Chinese Global Brands, more brands than theChina consumers, especially in the large other BRIC countries combined and a coastal cities, are becoming more sharp increase since 2006 when only two demanding and discerning in their Chinese brands appeared. New to the brand expectations. ranking are Sinopec, the oil and gas giant, 2. Emphasize trustChinese and Moutai, an alcoholic drink. Growing functional and Consumers are looking for brands that combine innovation and trust,brands emotional appeal The beer and spirits category illustrates qualities increasingly found in Chinese products as the countrybenefit from the ability of Chinese brands to cultivate emotional appeal. Moutai enjoys an begins to market as well as manufacture brands.improved emotional bond with Chinese consumers based on heritage. Moutai is a brand of 3. Understand the nuances of the youth marketquality and baijiu, the traditional Chinese alcoholic drink distilled from sorghum and China’s young people are avid consumers and eager to obtainsharp pricing produced in China for at least 2,000 years. Similarly, the Chinese beer Snow greater material success than their parent’s generation. But they’re distinguished itself in a category where real not a monolithic purely materialistic differentiation is difficult. Although little group. With growing affluence known outside of China, Snow is one of many feel a greater sense of socialChinese brands are the world’s most-consumed beers. Several responsibility. years ago, the brand launched a marketingcompeting more campaign around the idea of adventure 4. Find customers using social mediaeffectively. with a campaign called Globe Trekker. China’s Internet is more fragmentedSeveral factors drive this competitiveness. As part of the campaign, selected than in most countries. WhereFirst, Chinese consumers have become volunteers have explored exotic locations Facebook or Twitter may dominatemore sophisticated about brands. Second, such as Tibet’s Brahmaputra Canyon. In their sectors in certain countries, inChinese brands have improved in quality, the summer of 2001, Snow produced one China several different brands willleveraged their deep market knowledge of the largest digital campaigns in China. offer the equivalent services. Reachingand maintained a price advantage. Global brewer SABMiller produces Snow consumers requires knowing they can in a joint venture with a local company, be found in many places.The growing strength of Chinese brands China Resource Enterprises.is especially apparent in categories 5. Use a media mix The Chinese dairy brand Yili Mobile is quickly becoming thewhere consumers discern no functional communicates emotionally by preferred way many Chinesedifferences between the multi-national emphasizing health and nutrition and people, particularly the young,and Chinese offerings, and the Chinese employing celebrities to differentiate access information especially withbrand is cheaper. Some multi-national itself from Mengniu, its chief competitor. the growing popularity of 3G smartbrands have operated in China for so In contrast, the detergent brand Blue phones. But people still spend a lotlong they’re well accepted. But longevity Moon exemplifies the triumph of of time with traditional media, suchis no longer an adequate advantage. functionality and price. It effectively as TV, which can’t be ignored.Critically, these changes are happening challenges multi-national brands inas the focus of brand expansion shifts China, because it works and coststo China’s interior cities and villages approximately 30 percent less. Buildingwhere consumer values—the preference on this reputation, the company isfor price and functionality over status expanding its product line to includeappeal—favors Chinese brands. Having sanitizer and other products.

Fast Growing Markets China 29Brand building crosses SOEs build brandsborders Even the large SOEs are engaging inChinese brands are slowly growing brand building to facilitate increasedtheir export sales. In the initial stages overseas expansion. Until recently, theseof establishing brands for export, brands enterprises placed less attention on brand BRIC FOUNDATIONSwith Chinese heritage enjoyed the because they enjoyed monopolisticgreatest success as they connected with dominance. But as China’s economy VALUES ANDcommunities of Chinese people living changes, many of these banks, insurance ATTITUDESoutside of China. Moutai, for example, companies, telecoms, and oil and gasenjoys success outside of China. giants compete against each other and While it’s important to understand also seek growth outside of China. the unique aspects of eachAlong with beer and spirits brands, In May 2011, ICBC (Industrial and country, it’s also necessary totraditional Chinese medicines also have Commercial Bank of China) received find the areas of commonality.reached overseas consumers, primarily a license to open a branch in Mumbai, People in all of the BRIC countriesin Chinese ex-pat communities and it recently established a presence in share roughly the same values asbut increasingly among the general Karachi, Islamabad and Canada and also inhabitants of the US and Europepopulation interested in wellness and aspires to grow in Russia, the Middle regarding the centrality of familyherbal remedies. Among the better- East and Latin America. ICBC is the and the ability to manage theirknown brands is Tong Ren Tang, which world’s most valuable financial brand, money. In related research, TGIwas established in 1669, at the beginning ranking 13 in the BrandZ™ Top 100. also found that people acrossof the Qing Dynasty. countries and regions affirmed the China’s major oil and gas companies— importance of lasting relationshipsMany Chinese technology companies Sinopec and PetroChina—engage in and said that time was morehave prospered as OEMs (Original brand building to help establish important important than money.Equipment Manufacturers), creating relationships as they expand abroad andproducts for major brand marketers from also to build credibility domestically.the West. Some of these companies now Sinopec, which operates China’s largest “I enjoy spending timeattempt to leverage their vast knowledge network of gas stations, sponsors major with my family”to market their own brands and enjoy events including Formula One racing. % who agreehigher margins. A few technology brands, For COFCO, a large, multi-brand foodsuch as Lenovo, already have achieved 83 84 conglomerate, domestic marketing is 75 77 73high brand recognition outside of China. 68 important, not to raise the corporateEstablished as a small electronics supplier, profile, but to promote its brands,called Legend Group Holdings in 1984, which include category leaders such asLenovo today is one of the world’s largest Fulinmen, a producer of cooking oil andproducers of PCs. It launched the Lenovo rice, and Great Wall wine.brand in 2003, and two years later acquired Brazil Russia India China US Western brands dominate EuropeIBM’s Personal Computing Division.Haier, one of China’s largest home some categoriesappliance brands, is a world leader in In some categories, such as cars, Chinese “I am very good atwhite goods. Established as a refrigerator consumers view local brands as lower managing money”manufacturer in 1984, the brand now sells quality than the Western brands. While % who agreeits refrigerators, washing machines, air the Chinese government initiallyconditioners and other products through supported production of Chinese auto Brazil 54leading mass merchants in the US and Europe. brands at the entry level, Chinese auto 48 RussiaMidea also manufactures air conditioners and buyers typically want to trade up.household appliances that it markets India 69 Multinational carmakers, such as Audi, 60 Chinaworldwide. Rival Gree specializes in airconditioners and markets globally. GM, Ford and VW enjoy prominence in China through their joint venture US 44 59 EuropeThe sports apparel brand Li-Ning partnerships with Chinese manufacturers.experienced difficulty in the domestic Because most of the production for thesemarket last year but, determined to build the Western brands happens in China, many Source: Global TGI research based onbrand overseas, Li-Ning signed a deal with Chinese consumers view these cars as analysis of 20-to-54 year-olds in the largest cities in BRIC markets and a countrywidethe Finnish L-Fashion Group to establish Chinese. VW became familiar because sample in the US and Europe (UK, France,the brand in Europe and it launched a of its use as taxis. Audi comprises a Germany, Spain)website in the US to aggressively market large share of government officialthe brand using e-commerce. vehicle fleets.

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable30 Global Brands 2012OverviewThe total value of the2012 BrandZ™ Top 100Most Valuable GlobalBrands rose marginallylast year by 0.4 percentto $2.4 trillion, asa perfect storm ofeconomic stress,political uncertaintyand natural disastersaffected brands acrosscategories. Readers Digest Readers Digest Readers Digest Readers Digest Readers Digest Issue 01 Issue 02 Issue 03 Issue 04 Issue 05

Top 100 Overview 31 – he insurance category experienced TAlmost half of the Top the sharpest decline, 16 percent,100 brands lost value. in part because of the exposure to catastrophes including the tsunami inBrands last declined Japan and flooding in Thailand.this broadly during the Other factors impacting brand value THE IMPORTANCEdepths of the 2009 included the BRIC slowdown, Europe’s OF BRAND debt crisis, political uncertainty in the USglobal recession. and the erosion of trust culminating in the STRONG BRANDSBut financial performance, not brand, Occupy Wall Street movement. GROW IN VALUEwas the more critical determinant for 35 Despite this challenging context, theof the 49 brands that declined. The Top 10 brands in the strong performance of many brands across BrandZ™ Top 100 Most ValuableBrand Contribution—the measurement diverse categories pointed to the continuing Global Brands added almost $500of brand strength exclusive of financials importance of brand and a steady billion in value over the past sixor any other factors—generally remained appreciation of brand value. During the years. Some of the growth, butstable or increased for most brands and past six years, between 2006 and 2012, the not all, reflects the remarkableprovided the buoyancy to navigate the total value of the BrandZ™ Top 100 Most rise of leading technology brands.year’s turbulence. Valuable Global Brands rose 66 percent. The larger lesson is that strongOne in five of the 2012 BrandZ™ Top Brand power brands continue to grow in value. Although the bottom 10 brands100 brands came from a fast growing made a difference of the BrandZ™ Top 100 dideconomy. But the total value of thosebrands slipped slightly for the first time Strong brands enabled companies to not increase as much value into $330.8 billion because of the business endure continued economic weakness absolute terms, they doubledslowdown in Brazil and China. and thrive in the transition to recovery. in value. With brand value increases of 31 percentThe number of fast growing economies and 26 percent, respectively, Homerepresented in the BrandZ™ Top 100 The strong grow stronger Depot and IKEA were among theMost Valuable Global brands expanded, Top Risers based in part on the steady $892bnhowever, with the appearance of the first housing recovery, at least in the US.brand from Africa, the South African DStelecom MTN. Audi became a Top Riser, with a brand AN P 10 BR value increase of 23 percent, and F TO EOIn addition, two Chilean retailers, $409bn LU Volkswagen appeared in the BrandZ™ VAFalabella and Sodimac, made the list of Top 100 for the first time. Both car brandsleading retailers. And on the strength experienced strong growth worldwide— $83bn $46bnof its business in fast growing Asian in the recovering US, slowing China and NDS VALUE OF BOTT OM 10 BRAeconomies, Commonwealth Bank struggling Europe.became the first Australian brand in the 2006 2012BrandZ™ Top 100. Recognizing the power of their valuable brands, several organizations took steps Source:Brand value fluctuations in the 2012 to assert control over this critical asset.BrandZ™ ranking were spread evenly Apple announced, early in 2012, that itacross the 13 categories covered. Six would spend cash reserves to buy backcategories rose in value and six declined. shares. Ralph Lauren, Hugo Boss andThe financial category remained even Calvin Klein took steps to increase thewith last year. number of brand-owned stores and– echnology brands again dominated, T reduce franchises. Burberry allowed comprising 30 percent of BrandZ™ certain licenses to expire. Ralph Lauren, Top 100 total value. Apple, IBM, Hugo Boss and Burberry were Top Risers Google and Microsoft occupied four in brand value, with Ralph Lauren up 51 of the top five positions (McDonald’s percent. Calvin Klein appeared in the was the exception). apparel ranking for the first time.– he three categories that grew most T Even organizations that developed in brand value—luxury, fast food and as government owned or controlled apparel—revealed an underlying bureaucracies increasingly recognized the consumer determination to spend on importance of brand as they faced new brands, but to spend wisely for quality competitors at home and expanded abroad. and value. Once a staid Russian financial institution, Sberbank was among the Top Risers,

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable32 Global Brands 2012 following a redesign of its branches and Technology brands a business refocus toward the customer. The bank also completed a major strategic expanded influence acquisition in Eastern Europe. In a series of acquisitions and collaborations between technology Changed spending companies and telecoms, brands formedTHE IMPORTANCE attitudes touched brands ecosystems to leverage each other’sOF BRAND competence in content creation, digital Changing customer attitudes affected devices and delivery systems. GoogleSTRONG BRANDS most categories and brands, as spending purchased Motorola Mobility andDRIVE SALES shifted to more considered—rather than Microsoft formed a partnership with conspicuous—consumption. People Nokia. Apple and Amazon continued toThe importance of brand in bought luxury again. In fact, the categoryconsumer purchasing decisions develop their own ecosystems. rose 15 percent in brand value. Butincreased significantly of the appreciation of craft and enduring quality These changes reflected technology’spast decade, while the influence become almost as important as bling. increased centrality in all aspects ofof price declined. In interviews consumer life. Collaborations producedconducted in 31 countries, 59 Similarly, in personal care, shoppers spent smart phones and smart homes and smartpercent of consumers now say money to look good even in bad times, cars, which provided for the mass-marketthat brand alone is an important perhaps especially in bad times. But they safety and comfort features previouslypurchasing determinant, sought added functional benefits, driven reserved for luxury. The technology andcompared with only 7 percent more by a desire to maintain their own telecom categories comprised about one-who say that price alone is health and wellness than the need to third of the brands in the 2012 BrandZ™important. The rise of brand and impress others. Although the personal Top 100 but they accounted for 44the decline of price in purchasing care category declined slightly overall, percent of the value.decisions have produced a certain brands appreciated significantly. IBM, which celebrated its centennialwidening gap. The preference for Clinique rose 43 percent in brand value. last year, increased 15 percent in value,brand alone remained strong even Consumers also expressed a growing maintaining its position as the leadingduring the recession. Price alone desire for intrinsic quality, but reluctance B2B technology brand and ascendingrarely drives sales. to pay for badge premium. Korean brand Hyundai appeared for the first time in10 years: the car category ranking. Improvements Zara and UniqloBrand more influential both in production and design, plus competitive pricing, enabled Hyundai to appreciated 22% and 26% 59% challenge competitors at all model levels,43% LON E B RA N D A including luxury. This pursuit of value in part explains the success of apparel brands Zara and Uniqlo, which appreciated 2216% percent and 26 percent, respectively. 7% PRICE A L ONE Empowered by technology, especially the rise of mobile, consumers also2002 2011 influenced changes in shopping and the customer-brand relationship. AttemptingSource: Millward Brown Optimor, to connect with shoppers all the time andBrandZ™ Data anywhere on the elusive path to purchase, merchants and brands added another word to the retail lexicon—omni-channel. Constantly present in social media, brands and retailers used incentives offered on mobile apps to convert in-store shoppers into customers. Retailers added flexible delivery options—in-store pick-up or home delivery—to build loyalty. Even Amazon experimented with pick-up locations to supplement its virtual reality with a bricks and mortar presence. Chinese sales drove the rise of KFC and Estée Lauder

Top 100 Overview 33to Number 2 in the BrandZ™ Top increase of the cosmetic brand Estée100 ranking. IBM’s performance Lauder. China results also drove the risedemonstrated the resilience of a brand of KFC, which appeared in the BrandZ™that pioneered the mainframe and Top 100 ranking for the first time.adapted to the cloud age, and it affirmed Even as a few BRIC brands droppedthe possibility of building a strong brand from the BrandZ™ Top 100 others THE IMPORTANCEin the B2B space. appeared, including Sinopec, the OF BRANDMany B2B brands attempted to simplify Chinese oil and gas brand, Moutai, thetheir office technology to make it brand of traditional Chinese alcohol and STRONG BRANDSresemble the simpler at-home consumer the Indian telecom Airtel. OUTPERFORMexperience. In B2C, and at the formativeend of brand lifecyle, eight-year-old And brands from other fast growing THE S&P 500Facebook grew 74 percent in brand economies entered the BrandZ™ Over the past six bumpyvalue, making it the fastest riser, as it ranking. The South African entry MTN, economic years, the S&P wasprepared for an Initial Public Offering a telecom, operates throughout Africa down more than it was up and(IPO). The ubiquity of technology also and the Middle East. The Chilean brand appreciated only 4.5 percent. Inraised consumer concerns about privacy Falabella is the largest retailer in South contrast, the BrandZ™ portfolioand other practices. Consumers focused America, with a portfolio of department increased by 46.3 percent. Likethe same kind of scrutiny on technology stores and specialists that include the S&P 500, the BrandZ™brands that they usually reserved for the other Chilean brand new to the portfolio comprises a diversebanks and other major institutions BrandZ™ rankings, Sodimac, the home group of public companies. The improvement chain.BRIC slowdown BrandZ™ portfolio companies In a challenging year, when the are the strongest brands inwas relative BRICs decelerated somewhat, these the BrandZ™ ranking. TheAlthough fast growing economies slowed, developments are a reminder that fast comparison between the twogrowth remained relatively strong in growing economies remain a key driver portfolios shows that strongcertain categories. Revenue from China of sales and brand value growth. brands outperform the stockcontributed to the 16 percent value market benchmark by a wide margin—103 percent. Audi became a Top Riser, BrandZ™ portfolio up 23%, as Volkswagen continues to outperform the market debuted in the Top 100 60% 37.5% 30% 0.4%Technology and 0%Telecoms forged -30%collaborations -60% 2006 2009 2012 BrandZ™ Portfolio S&P 500Indian and SouthAfrican telecoms Source: Bloomberg, Millward Brown Optimor, BrandZ™ DataAirtel and MTN roseto the Top 100

BrandZ™ Top 100 Most Valuable34 Global Brands 2012BrandZ™ Top 100 Most Valuable Global Brands 2012 # Category Brand Brand Value Brand Brand % Brand Value Rank 2012 ($M) Contribution Index Momentum Index Change 2012 Change vs 2011 1 Technology 182,951 4 10 19% 0 2 Technology 115,985 4 5 15% 1 3 Technology 107,857 4 5 -3% -1 4 Fast Food 95,188 4 8 17% 0 5 Technology 76,651 4 8 -2% 0 6 Soft Drinks * 74,286 5 7 1% 0 7 Tobacco 73,612 3 7 9% 1 8 Telecoms 68,870 3 5 -1% -1 9 Telecoms 49,151 3 7 15% 4 10 Telecoms 47,041 4 9 -18% -1 11 Conglomerate 45,810 2 5 -9% -1 12 Telecoms 43,033 3 6 -1% 0 13 Financial 41,518 2 9 -7% -2 14 Financial 39,754 3 3 8% 2 15 Financial 38,284 4 9 34% 5 16 Logistics 37,129 5 8 4% 1 17 Retail 34,436 2 5 -8% -2 18 Retail 34,077 3 10 -9% -4 19 Technology 33,233 3 10 74% 16 20 Telecoms 26,837 3 2 -10% -1 21 Luxury 25,920 5 8 7% 5 22 Technology 25,715 3 5 -1% 1 23 Cars 24,623 4 5 10% 7 24 Financial 24,517 2 4 -4% 0 25 Technology 24,326 5 10 8% 4Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).* The Brand Value of Coca-Cola includes Lights, Diets and Zero** The Brand Value of Budweiser includes Bud Light

Top 100 Overview 35 # Category Brand Brand Value Brand Brand % Brand Value Rank 2012 ($M) Contribution Index Momentum Index Change 2012 Change vs 2011 26 Technology 22,898 3 3 -35% -8 27 Technology 22,529 2 5 -16% -5 28 Cars 21,779 3 5 -10% -1 29 Financial 20,759 4 8 53% 31 30 Financial 20,198 4 3 18% 10 31 Financial 19,313 3 3 -14% -3 32 Luxury 19,161 5 8 61% 39 33 Personal Care 19,055 5 7 -4% -1 34 Oil & Gas 18,315 1 7 8% 7 35 Baby Care 18,299 5 7 -5% -1 36 Retail 18,007 4 9 -18% -5 37 Technology 17,992 4 8 19% 15 38 Financial 17,867 2 4 6% 5 39 Oil & Gas 17,781 1 3 17% 12 40 Financial 17,225 4 3 0% -1 41 Telecoms 17,113 2 4 -37% -20 42 Fast Food 17,072 4 9 43% 30 43 Entertainment 17,056 3 8 -1% -5 44 Apparel 16,255 4 9 17% 13 45 Technology 16,118 3 5 4% 4 46 Cars 16,111 4 4 5% 4 47 Telecoms 15,981 3 6 3% 1 48 Beer ** 15,882 4 6 0% -3 49 Technology 15,633 2 5 12% 9 50 Telecoms 15,351 2 3 -13% -14Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)

BrandZ™ Top 100 Most Valuable36 Global Brands 2012BrandZ™ Top 100 Most Valuable Global Brands 2012 # Category Brand Brand Value Brand Brand % Brand Value Rank 2012 ($M) Contribution Index Momentum Index Change 2012 Change vs 2011 51 Personal Care 14,948 4 7 5% 4 52 Fast Food 14,843 4 8 4% 2 53 Insurance 14,587 3 9 -25% -20 54 Financial 14,561 4 3 -14% -12 55 Technology 14,164 3 9 16% 12 56 Oil & Gas 13,940 1 10 N/A New 57 Personal Care 13,773 4 5 -12% -11 58 Apparel 13,485 2 7 4% 4 59 Technology 13,317 2 7 -18% -15 60 Financial 13,083 3 7 N/A New 61 Financial 12,982 2 6 -26% -24 62 Retail 12,968 2 5 31% 27 63 Financial 12,665 2 2 -15% -10 64 Retail 12,662 3 8 18% 18 65 Cars 12,647 3 3 -11% -9 66 Apparel 12,616 3 3 22% 20 67 Soft Drinks *** 12,598 4 4 -3% -4 68 Oil & Gas 12,105 1 10 7% 10 69 Alcohol 11,838 3 8 N/A New 70 Logistics 11,723 4 9 0% 3 71 Telecoms 11,531 3 8 N/A New 72 Financial 11,488 3 2 9% 12 73 Technology 10,676 2 3 -11% -3 74 Financial 10,649 3 5 25% 25 75 Oil & Gas 10,560 1 5 -21% -14*** The Brand Value of Pepsi includes Diets**** The Brand Value of Red Bull includes sugar-free and Cola***** The Brand Value of Sony includes Playstation 3

Top 100 Overview 37 # Category Brand Brand Value Brand Brand % Brand Value Rank 2012 ($M) Contribution Index Momentum Index Change 2012 Change vs 2011 76 Retail 10,506 3 4 -16% -11 77 Oil & Gas 10,424 1 3 -17% -13 78 Insurance 10,174 3 9 -3% 5 79 Financial 10,064 2 1 -16% -10 **** 80 Soft Drinks 9,984 3 6 8% 13 81 Cars 9,853 2 6 -2% 7 82 Financial 9,760 2 1 -38% -35 83 Financial 9,627 2 3 -4% 4 84 Telecoms 9,572 3 8 -18% -9 85 Telecoms 9,553 3 5 -12% -5 86 Technology ***** 9,444 4 4 -10% -1 87 Retail 9,310 2 6 1% 7 88 Telecoms 9,273 3 8 N/A New 89 Retail 9,206 3 9 26% New 90 Telecoms 9,191 3 9 -4% 1 91 Fast Food 8,852 3 8 8% New 92 Financial 8,644 3 3 -28% -24 93 Oil & Gas 8,599 1 8 6% New 94 Telecoms 8,562 2 3 -27% -20 95 Financial 8,546 3 2 -25% -18 96 Cars 8,519 3 6 15% New 97 Telecoms 8,449 3 6 -27% -21 98 Retail 7,836 3 5 -43% -39 99 Insurance 7,813 2 5 -7% New 100 Logistics 7,601 3 5 N/A NewSource:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)

BrandZ™ Top 100 Most Valuable38 Global Brands 2012 # Brand % Brand Value Brand Value ($M) GrowthTop Risers 1 Facebook 33,233 74% 2 Hermès 19,161 61%Facebook led the 2012 3 MasterCard 20,759 53%BrandZ™ Top 100 4 Ralph Lauren 5,086 51%Most Valuable GlobalBrands in brand value 5 Starbucks 17,072 43%appreciation, a status it 6 Clinique 3,418 43%also claimed in the 2011 7 Rolex 7,171 36%ranking. 8 Visa 38,284 34%With a 74 percent increase in value,Facebook ranked Number 19 this year. 9 HUGO BOSS 3,257 33%It first appeared in the ranking in 2010.Burberry, Hermès, Starbucks and IKEA 10 The Home Depot 12,968 31%also appeared in the Top Risers ranking 11 Domino’s 797 29%for the second consecutive year. Therate of brand value growth increased 12 UNIQLO 3,689 26%for Hermès and remained even forStarbucks and IKEA. For Burberry and 13 IKEA 9,206 26%Facebook brand value grew at a strongbut slower pace than last year. Overall, 14 adidas 3,863 25%the 2012 Top 20 Risers grew just 35percent in value compared with 63 15 Tim Hortons 3,346 25%percent a year ago. 16 Sberbank 10,649 25%Only one BRIC market brand—Russia’sSberbank—made the 2012 Top 20 Risers 17 Audi 4,703 23%compared with three BRIC brands lastyear. Facebook was the only technology 18 Dove 4,696 23%brand compared with five technologyTop Risers last year when technology 19 Zara 12,616 22%was the most represented category.Apparel was this year’s most represented 20 Burberry 4,090 21%category, with five brands. Source:Strong performance in most markets, andsales growth from both new and existing (including data from BrandZ™, Kantar Worldpanel, and Bloomberg)stores, drove the brand value increasesof Ralph Lauren and Hugo Boss.With their focus on fast and affordable and quality, but at quite a different price despite a low opinion of banks, withfashion, UNIQLO and Zara were well point than a cup of coffee. Both Hermès exceptions such as Sberbank, the Russianpositioned as consumers sought value. and Rolex reinforced their elite status, bank in the process of transforming fromValue also explained the presence of while Burberry’s in-store and online a Soviet-style institution to a consumer-the fast food brands Domino’s Pizza, marketing innovations made the brand facing brand.Tim Hortons and Starbucks in the Top more accessible to a new generation. In personal care, Dove and CliniqueRisers ranking. For Home Depot and IKEA, the benefited from overall brand strengthBut value was not the entire story, rise in brand value reflected both the and growth in BRIC markets. Audi’sespecially for Starbucks, which strengthening of the housing market and brand value increased for similar reasons,celebrated its 40th anniversary by operational improvements implemented as customers chose high quality at a lowerrefreshing the brand with a revised logo during the recession. In the financial price relative to the competition. Sales inthat both affirmed the brand’s coffee category, the strong brand performance China remained strong, in part becauseroots and widened its focus. The Top of Visa and MasterCard suggested that Audi is a brand of choice for fleets ofRiser luxury brands also reflected value customers sustained trust in these brands official Chinese government cars.

Top 100 Overview 39 Ranking Brand Brand Value ($M)Newcomers 55 Sinopec 13,940 60 Commonwealth Bank 13,083The influence of fast 69 Moutai 11,838growing markets again 71 Airtel 11,531forms a common theme 88 MTN 9,273uniting newcomers tothe BrandZ™ Top 100 89 IKEA 9,206Most Valuable Global 91 KFC 8,852Brands. 93 Chevron 8,599The newcomers include two Chinese 96 Volkswagen 8,519brands: Sinopec, the oil and gas giant;and the traditional Chinese clear 99 State Farm 7,813liquor, Moutai. Airtel and MTN aretelecoms from India and South Africa, 100 DHL 7,601respectively. MTN, the first brand from Source:Africa to appear in the BrandZ™ Top100, operates in more than 20 countries (including data from BrandZ™, Kantar Worldpanel, and Bloomberg)across Africa and the Middle East.Commonwealth Bank of Australiabenefited from business interests in Volkswagen. In contrast to much of its Celebrating its 90th anniversary in 2012,fast growing Asian markets, especially competition, the German carmaker also State Farm introduced its first new logoChina, Indonesia and Vietnam. The performed well in Europe despite the since 1953. It expects the new simplifiedgrowth of KFC depended much economic uncertainty that depressed design to be more easily identified inmore on results from its roughly 3,700 car sales. digital media, which is increasinglyChinese outlets than on the 4,780 fast important, as more insurance is sold IKEA entered the BrandZ™ Top 100food restaurants it operates in the US, its online. Meanwhile, the brand sustained as the housing market strengthenedhome market. its high profile in the US with extensive somewhat and consumers in struggling TV advertising. Chevron reported recordDHL, the German-owned international economies responded to IKEA’s value- earnings in 2011, in part because of highexpress delivery and logistics company, for-money, ready-to-assemble furniture crude oil prices.also experienced strong results in proposition. The brand also enjoyedfast growing markets, as did strong sales in China.MTN, the first African brand in the BrandZ™ Top 100 Most Valuable GlobalBrands, emerged in Mandela-era South Africa. Operating at the intersection ofsocial change, culture and business, the brand today touches the aspirations of170 million subscribers in 21 countries across three continents.

BrandZ™ Top 100 Most Valuable40 Global Brands 2012 Category % Brand Value Growth Luxury Category 2012 vs 2011 Up 15% Changes Luxury 15% Fast Food 15% Apparel 13% With a few exceptions, Oil & Gas 8% the aggregate brand values of the 13 Technology 2% categories studied in Soft Drinks 1% Fast Food the 2012 BrandZ™ Financial Institutions 0% Up 15% ranking changed only Beer -1% moderately, reflecting the flat 0.4 percent Personal Care -5% growth of the Top 100 Retail -5% overall. Cars -7% Six categories increased and six declined, while the financial category remained Telecom Providers -7% level. Only three categories appreciated by more than 10 percent—luxury, Insurance -16% Apparel fast food and apparel. Only insurance Up 13% declined by more than 10 percent. Source: This balance of positive and negative (including data from BrandZ™, Kantar brand value changes contrasts with Worldpanel, and Bloomberg) the BrandZ™ 2011 results when all categories appreciated in brand value. Of the categories that grew in value this of entitlement replaced spending year, only two—apparel and oil and gas— embarrassment. The category also outpaced the improvement of a year ago. benefited from sales in China. Apparel, up 13 percent, compared with a Fast food climbed as core customers 10 percent rise in 2011, benefitted from remained and new customers traded the excellent financial performance of down to a more affordable eating out Oil & Gas certain brands and a return to spending, experience. Brands also improved menus Up 8% although discounting pressured margins. with healthier options and continued to Oil and gas improved 8 percent in value develop breakfast business. Aggressive in the BrandZ™ 2012 ranking compared expansion in fast growing markets drew with just a 1 percent improvement new customers for whom the brands in 2011, when BP declined sharply were aspirational. following the Gulf of Mexico disaster. The number of natural disasters last In the BrandZ™ 2012 ranking, the year, combined with global economic appreciation of other brands and the trends, explains the 16 percent decline addition China’s Sinopec contributed to in brand value for insurance. Each of the growth in category brand value. the 13 categories in the BrandZ™ 2012 The two categories that appreciated most ranking felt the combined impact of the in brand value in the 2012 ranking— global economy and category-specific luxury and fast food—represent opposite factors (Please see the category reports Insurance poles of consumer spending. Both that begin on page 48). categories appreciated 15 percent and Down 16% reflected spending attitudes reshaped by the recession. Luxury rose because as the economy strengthened a sense

Top 100 Overview 41 # Brand Brand Value Brand ($M) ContributionBrand 1 Moët & Chandon 4,217 5Contribution 2 Sodimac 3,318 5 3 Baidu 24,326 5Brand Contribution 4 Skol 4,698 5is the distinctive 5 Brahma 2,359 5advantage of the 6 Pampers 18,299 5BrandZ™ ranking. 7 Louis Vuitton 25,920 5It’s an assessment of how effectively abrand differentiates from its competitors, 8 Hennessy 4,596 5generates desire and cultivates loyalty.Derived from extensive consumer 9 Natura 3,307 5research, Brand Contribution is amongthe measurements included in the 10 Guinness 4,044 5calculation of brand value. (Please seethe methodology on page 97). 11 Hermès 19,161 5High Brand Contribution is an enduring 12 Rolex 7,171 5competitive strength. In fact, all butthree of the brands in the 2012 BrandZ™ 13 CHANEL 6,677 5ranking of Brand Contribution leadersalso appeared last year. Coca-Cola and two 14 Coca-Cola 74,286 5Chilean retailers, Falabella and Sodimac,debuted this year. One of South America’s 15 Falabella 5,263 5largest retailers, Falabella operates The Brand Contribution Index measures the unique role brand plays in driving earningsdepartment stores, supermarkets and and is measured on a scale of 1 to 5, with 5 being the most positive.specialty outlets, including the Sodimac Source:home improvement chain. (including data from BrandZ™, Kantar Worldpanel, and Bloomberg)High Brand Contribution most oftenis found in categories, such as luxury,where the emotional connection tothe consumer is more salient than any 20 percent of the BrandZ™ Top 100.functional benefit. In the 2012 BrandZ™ These accomplishments reflect theranking of Brand Contribution leaders, rising stature and value of brands in fastsix of the 15 brands listed are in the growing markets.luxury category. Interestingly, six other Along with Falabella and Sodimac, threebrands are from fast growing markets and other Latin American brands, all fromrepresent categories other than luxury. Brazil, appear among the 15 brands inLooking at the results another way, the 2012 BrandZ™ Brand Contributionof the brands rated highest in Brand ranking: the beers Skol and BrahmaContribution, 40 percent are in luxury and Natura, a cosmetic brand. Theand 40 percent come from BRIC highly valued Chinese search enginecountries and other fast growing markets. Baidu is the other brand from a fastFast growing market brands comprise growing market. Interestingly, six brands listed are from fast growing markets and represent categories other than luxury.

BrandZ™ Top 100 Most Valuable42 Global Brands 2012Regions the impact on earnings made by brand ranking is made up of Chinese brands.Brands based in North itself, exclusive of finances or other While the general decline in brand valueAmerica grew in value factors. Similarly, these brands score high reflects the slowdown of the Chinese on Brand Momentum, a measurement of economy, the brand appreciation oflast year or declined future earnings potential. Baidu, the search engine, and the socialonly slightly. The category mix in each region network Tencent/QQ, points to the driving power of technology.This result contrasts sharply with results affected the brand value fluctuations.in Continental Europe, the UK, Asia and The North American ranking comprises The Latam results indicate how theLatam, where many more brands declined. mostly technology and telecom brands. slowdown in Brazil impacted brands, but In contrast, retail, finance, and oil andTwenty-six, more than half, of the regional it also reveals the residual strength of gas—categories experiencing pressure—brand leaders declined in value in the Brazilian brands such as the beers Brahma dominated the UK ranking, in which2012 BrandZ™ Top 100 Most Valuable and Skol and Natura, the cosmetic. The eight of 10 brands declined. DespiteGlobal Brands, compared with only nine introduction into the retail ranking of two Europe’s troubled economy, half of thedeclining brands in the 2011 ranking. brands from Chile, Falabella and Sodimac, brands in the regional ranking improved and the presence of Telcel and CoronaThis finding reflects the global economic in value. Half of the brands are in apparel from Mexico, confirmed how Latam isand political forces that impacted brands and luxury, categories that grew in value. broader than a Brazil phenomenon. Mostlast year. The relative strength of the brands With the exception of Japan’s Toyota important, five of the eight Latam brandsbased in North America underscores the and NTT DoCoMo, a telecom, and scored 5 in Brand Contribution andcorrelative point: brand strength matters. the Korean brand Samsung, the Asian another brand scored 4.It’s a sturdy tiller no matter which way thecurrents are running.The North American brands are, withone exception, the Top 10 most valuableglobal brands. The list includes Apple,IBM and Google as well as McDonald’s Top 10 North Americaand Coca-Cola. It’s not an accidentthat six out of the 10 have BrandContribution scores of 4 or 5, the highestpossible. Brand Contribution measures # Brand Brand Value Brand % Brand Value Rank 2012 ($M) Contribution Change 2012 Change Index vs 2011 1 Apple 182,951 4 19% 0 2 IBM 115,985 4 15% 1 3 Google 107,857 4 -3% -1 4 McDonald’s 95,188 4 17% 0 5 Microsoft 76,651 4 -2% 0 6 Coca-Cola* 74,286 5 1% 0 7 Malboro 73,612 3 9% 1 8 AT&T 68,870 3 -1% -1 9 Verizon 49,151 3 15% 1The North American 10 GE 45,810 2 -9% -1brands are, with Source:one exception, the (including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Top 10 most valuable The Brand Contribution Index measures the unique role brand plays in driving earnings and is measured on a scale of 1 to 5, with 5 being the most positive.global brands.

Top 100 Overview 43Top 10 Continental Europe# Brand Brand Value Brand % Brand Value Rank Despite Europe’s 2012 ($M) Contribution Change 2012 Change Index vs 2011 troubled economy,1 Deutsche Telekom 26,837 3 -10% 0 half of the brands in2 Louis Vuitton 25,920 5 7% 2 the regional ranking3 SAP 25,715 3 -1% 0 improved in value.4 BMW 24,623 4 10% 15 Hermès 19,161 5 61% New6 Movistar 17,113 2 -37% -47 Mercedes-Benz 16,111 4 5% 18 Orange 15,351 2 -13% -29 L’Oreal 13,773 4 -12% -210 H&M 13,485 2 4% 0Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)The Brand Contribution Index measures the unique role brand plays in driving earnings and ismeasured on a scale of 1 to 5, with 5 being the most positive.Top 10 Asia# Brand Brand Value Brand % Brand Value Rank 2012 ($M) Contribution Change 2012 Change Index vs 20111 China Mobile 47,041 4 -18% 02 ICBC 41,518 2 -7% 03 China Construction Bank 24,517 2 -4% 04 Baidu 24,326 5 8% 1 With the exception5 Toyota 21,779 3 -10% -1 of Japan’s Toyota and NTT DoCoMo,6 Tencent/QQ 17,992 4 19% 4 a telecom, and7 Agricultural Bank of China 17,867 2 6% 1 the Korean brand8 NTT DoCoMo 15,981 3 3% 1 Samsung, the Asian9 China Life 14,587 3 -25% -3 ranking is made up of10 Samsung 14,164 3 16% New Chinese brands.Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)The Brand Contribution Index measures the unique role brand plays in driving earnings and ismeasured on a scale of 1 to 5, with 5 being the most positive.

BrandZ™ Top 100 Most Valuable44 Global Brands 2012 Top 8 Latin America # Brand Brand Value Brand % Brand Value Rank 2012 ($M) Contribution Change 2012 Change Index vs 2011 1 Petrobras 10,560 1 -21% 0The Latam results 2 Telcel 8,449 3 -27% 0indicate how the 3 Falabella 5,263 5 N/A Newslowdown in Brazil 4 Corona 5,114 4 -6% 1impacted brands, but 5 Skol 4,698 5 3% 2also reveals the 6 Sodimac 3,318 5 N/A Newresidual strength of 7 Natura 3,307 5 -28% -1Brazilian brands such 8 Brahma 2,359 5 18% 0as the beers Brahmaand Skol and Natura, Source:the cosmetic brand. (including data from BrandZ™, Kantar Worldpanel, and Bloomberg) The Brand Contribution Index measures the unique role brand plays in driving earnings and is measured on a scale of 1 to 5, with 5 being the most positive. Top 10 UK # Brand Brand Value Brand % Brand Value RankRetail, finance, oil 2012 ($M) Contribution Change 2012 Change Index vs 2011and gas—categories 1 Vodafone 43,033 3 -1% 0experiencing 2 HSBC 19,313 3 -14% 0pressure—dominated 3 Tesco 18,007 4 -18% 0the UK ranking, in 4 Shell 17,781 1 17% 0which eight of 10 5 BP 10,424 1 -17% 0brands declined. 6 Standard Chartered 10,064 2 -16% 0 7 O2 8,562 2 -27% 0 8 Barclays 5,961 2 -32% 0 9 Dove 4,696 3 N/A New 10 M&S 4,327 3 -18% -1 Source: (including data from BrandZ™, Kantar Worldpanel, and Bloomberg) The Brand Contribution Index measures the unique role brand plays in driving earnings and is measured on a scale of 1 to 5, with 5 being the most positive.

Top 100 Overview 45 important to brand success. That’s why identified and cultivated they canBrand we created a vocabulary for quantifying and describing brand personality. effectively guide the creative tone of communications. For example,Personality: Recently we’ve added a related visual language called Brand Toys (Please Mercedes is relatively “assertive” and “in control,” while BMW is more “sexy”Unlocking see sidebar). Being able to measure something as and “desirable.” The brands have different and differentiating personalities. Mercedes confidently plays on itskey traits for important—but as intangible—as brand personality enables brand owners to ask heritage with the fitting tagline, “The Best or Nothing.” In contrast, “Thesuccess and important questions that can strengthen competitive advantage: Ultimate Driving Machine” accurately captures the BMW personality.value – What is the brand’s personality? – s it unique and can it become more I Background unique? As part of our extensive and on-going global BrandZ™ research, we measure By Peter Walshe – s the personality consistent I the personality of thousands of brands. worldwide? If not, how does it vary? Global BrandZ™ Director We base the research on authoritative Understanding brand personality also psychological personality profile testing. helps select the most appropriate Adapting the results to be relevant for message and media, or more effective brands, we ask, if the brand were a person and suitable sponsorships or partnerships. what kind of personality would it have? Ultimately, understanding a brand We begin with 20 personality personality enables the brand owner toEvery brand has a deliver a consistent brand experience characteristics. Then we combine the characteristics into 10 brand personalitypersonality. that connects with consumers and archetypes (Please see the illustration). leaves a deeper and more sustainableIt’s part of how consumers perceive the For example: The related personality impression.brand and how the brand differentiates characteristics “generous” and “caring”itself from the competition. Accurately Brand personality characteristics often combine into the brand personalityunderstanding brand personality is suggest a brand’s latent appeal. When archetype “Mother.” Similarly, weBrand Archetypes Change Joker Se er Fun d m De uct ea listic Playful sir res Dr ea nt Se able s Id ffere e xy Di eativ Cr Reb Inno en Reb us cent d ellio Kind Mai el Well-being Challenge Stra Brav ous Frie ward Adve ro ightf Frien ntur e He nd or dly M Ge oth ise hy n e W ort Ca erou r rin s King stw e g In control Tru Wis Assertive Brand personality characteristics are combined into 10 brand archetypes, which are then Stability arranged around two axes. Source: BrandZ™ data

BrandZ™ Top 100 Most Valuable46 Global Brands 2012Strength of Character Growing Equity Strong Equity Seductress Dreamer Wise Average Hero King Mother Joker Chances of Success Rebel Friend Maiden Little Equity Declining Equity Brand archetypes correlate with Relative Fame success and equity. Source: BrandZ™ data use the brand archetype “Hero” to The “Wise” archetype (particularly represent brands that are “adventurous” trustworthy) is most unequivocally and “brave.” correlated with brand success. “Wise” brands include Google, China MobileUnderstanding a brand Brand archetypes and Visa. The Seductress brand (sexypersonality enables Then we take one more step. and desirable) is more of a specialist but revels in being distinct, different andthe brand owner to After combining brand personality attractive. It describes L’Oreal, Louis characteristics into brand archetypes, wedeliver a consistent show how the archetypes relate to each Vuitton and Zara.brand experience other by lining them up along two axes: In contrast, the “Maiden,” “innocent” the polarities of one axis are stability and “kind,” is not as strong. Many retailerthat connects with and change; the other, well-being and own brands fit this brand archetype.consumers and leaves challenge. For example: The archetypes “Friend” brands are “friendly” and “Dreamer” and “Joker” are associated “straightforward”, and usually very wella deeper and more with change, while “King” and “Wise” known. They include Airtel, the Indiansustainable impression. are more about stability. Similarly, the telecom, Home Depot and KFC. But archetype “Mother” represents a mix “Friend” brands generally are declining of stability and well-being, while a in equity. “Seductress” is both challenging as well as a potential driver of change. Archetypes and equity Brand archetypes correlate with brand Archetypes and success equity. Brands with these archetypes— “Seductress”, “Wise,” “King” and Brand archetype doesn’t by itself “Mother”—typically have strong brand determine success. And successful brands equity. In contrast, brands with “Joker,” can fit anywhere on the spectrum of “Rebel” and “Maiden” archetypes have archetypes. But inevitably some brands lower equity. There are exceptions, are just more compelling. The recent of course, but the rule is useful BrandZ™ Strength of Character analysis (Please see chart). of over 14,000 brands worldwide identifies several archetypes that, in diverse ways, On average, the BrandZ™ Top 100 most are associated with brand success. valuable global brands fall in the middle

Top 100 Overview 47 of the Strong Equity quadrant of the Strength of Character map, between the “Wise” and “King” with a strong dose ofBrand Toys provide a new the personality characteristic “desire,” which is an aspect of the “Seductress”tool for understanding brands archetype. In personality, the Top 100As visual representations of brand personality, Brand Toys stimulate brands are on average, significantly morecreative thought that can lead to new marketing and strategic insights. “in control, “assertive,” “trustworthy,”www.brandtoys.com “wise” and “creative.”Brand Toys are created based on brand personality characteristics In terms of brand archetype, the Topfrom BrandZ™ data combined with an index of social media buzz. This 100 can be summarized as “Wise Kings.”information dictates the Brand Toy’s size, shape and expression. Eyes This summary is especially true of thewiden to indicate charisma, while height increases and legs thicken to B2B leaders. IBM, is a “King” becauseproject trustworthiness, for example. Various body shapes signify the of its high levels of “trust” and “wisdom”brand’s potential and its familiarity. Expressions change or accessories together with its “idealistic” positioning.are added to suggest various qualities. Depending on style, a hat might Exxon Mobile is also a “King” but lesssymbolize assertiveness or caring. “idealistic” and much more “assertive,” while Royal Bank of Canada is an “in X: Familiarity control” “King.” Body Silhouette As noted, there are exceptions to the Presence & Potential Shape of Head Functionality Size of the Eyes rule and they include some of the most Y valuable brands that define their category. Charisma As the approachable “Joker,” Facebook Size of the Ears Chatter Climate Sentiment is “fun,” “playful” and “friendly.” X Accessories & The “Dreamer” Apple is “creative,” Size of the Legs/Feet Facial Expressions Trustworthiness Qualities “adventurous” and “desirable.” Red Body Shape Bull, the “Rebel,” is “adventurous” Admiration (Width), Influence (Height) and “brave,” if a bit “arrogant.” Being “straightforward,” which impliesA brand’s personality is illustrated by A brand’s potential and familiarity are honesty, is a key characteristic of thethe size and shape of the Brand Toy’s illustrated by body shape. Brands with “Friend” archetype, which describesears, eyes, head, legs and feet and maximum potential roughly resemble Amazon because of its great service,facial expression as well as by a hat or a dragon; brands with maximum range and recommendations. Beingother accessory. familiarity roughly resemble a gorilla. seen as “generous,” “kind” and “caring” makes Colgate the ultimate “Mother” For example: BrandZ™ data says Coca-Cola is brand archetype. particularly “desirable,” “adventurous” and “fun.” The Coca-Cola Brand Toy has the sunniest disposition, a “smiley” badge, a “lipstick” kiss on its cheek and is clearly a fun toy. The Brand Toys visualization is as effervescent as the drink. It overflows with smiles. Although the Coca-Cola brand is more than 125 years old, its Brand Toy reflects the ever-youthful image thathelps Coca-Cola hold its own in brand value with newcomers such asGoogle, Amazon and Facebook. It commands a good price premiumbut is rated as very well priced because of the immense desire the brandcreates. Happiness for the shareholders comes in an investment that isCoca-Cola shaped.In contrast, UPS, which is particularly “in control,”“trustworthy” and “wise,” is an approachablehulk, with thick trustworthy legs, bright openeyes suggesting considerable charisma, and acareful tie and prize winning ribbon, which alsorecognizes trust. The Brand Toy is holding atimepiece to show reliability and punctuality intaking care of you and your shipping.

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable48 Global Brands 2012

Product Categories Apparel 49 Value wins sales as discounts, rising costs squeeze margins Shoppers expected Spending caution a discount. prevailed While spending caution affected most Retailers complied, driving sales if not demographic groups, some middle-aged building loyalty. In search of the bestApparel people with disposable income increased value for money, consumers often visited their apparel purchasing, not only for more locations, physical or online, and themselves but to help ease the financial spent across multiple brands. strain on their grown children and To discourage this recession-conditioned grandchildren. And some of the upscale bargain hunting behavior, brands brands showed strength. experimented with various pricing Calvin Klein ascended to the Top 10 strategies while maintaining quality. in brand value this year. Part of PVH Some retailers lowered the opening Corporation, whose holdings include price somewhat but later offered less of Tommy Hilfiger, Izod and Arrow, a discount when putting the merchandise Calvin Klein’s success resulted from its on sale. heavy investment in global marketing, Higher sourcing costs complicated $300 million worldwide, and careful these efforts to preserve margins. This cultivation of the brand in fashion double hit of discount pricing and rising magazine advertising and editorial. costs especially hurt small independent The brand also benefited from its apparel brands. Some discounters presence in both mature and fast suffered if an exclusive focus on price growing markets. It derived just over limited the value message. half its revenue in North America, about Certain brands excelled a quarter in Europe and 17 percent in Asia. Over 750 Calvin Klein stores Despite the pressure to discount, some of worldwide, operated by more than 40 the strongest brands, such as fast fashion licensees, also drove awareness. Its outlet leaders Zara and H&M, enjoyed relative stores offered value. To gain more control success receiving the full markup in part over the brand, Calvin Klein bought because consumers, perceiving value, back franchises. switched to these brands. H&M also gained sales by encouraging Store presence women to cross-shop and purchase items drove sales for their children. A strategy usually Ralph Lauren, which also bought associated with grocery retailing, apparel back franchises, increased sharply in brands increasingly promoted cross brand value as more affluent shoppersDespite pressure to shopping to increase share of wallet. returned, at least in the US, where thediscount, some of Nike successfully emphasized discounting brand has its widest exposure. Of the more than 100 full-price Ralph Laurenthe strongest brands, in at least part of its line. The discounts may have appealed to people trading brand stores worldwide, 60 are locatedsuch as Zara and up to Nike, and its reputation for in North America with the rest evenly distributed in Asia and Europe.H&M, enjoyed relative innovation, from the private label brands they purchased during the recession. Around 10,000 department stores andsuccess receiving the With its combination of youthful other locations carry the brand. And around 6,000 of those are in the US.full markup because style and price, Uniqlo drew shoppers The brand also experienced strongconsumers, perceiving seeking value for money. The Japanese brand intensified its presence abroad, online sales and benefitted from almost 200 factory outlet stores.value, switched to opening several additional stores inthese brands. Manhattan including a flagship on Fifth Avenue.

BrandZ™ Top 100 Most Valuable50 Global Brands 2012 Movers and shakers Apparel Up 13% Brand Value Brand Brand Brand Value $M Contribution Momentum Change1 Nike 16,255 4 9 17%2 H&M 13,485 2 7 4%3 Zara 12,616 3 3 22%4 Ralph Lauren 5,086 4 7 51%5 adidas 3,863 4 6 25%6 UNIQLO 3,689 2 8 26%7 HUGO BOSS 3,257 4 6 33%8 Next 2,973 3 5 16%9 Metersbonwe 1,395 3 9 -4%10 Calvin Klein 1,183 3 9 N/ASource:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).The rise in the Hugo Boss valuation track their pace, distance and location.reflected the brand’s strong financial Adidas shoppers could use an app thatperformance, with worldwide sales up provided local store locations, inventories19 percent, led by a 34 percent increase and coupons.in Asia and a 24 percent rise in the In a Moscow store, Top Shop introducedAmericas. But sales rose by a healthy 15 an augmented reality mirror that enabledpercent even in the troubled economy of shoppers to see how they looked in aEurope. The brand-owned retail stores garment without the hassle of trying itprimarily drove the growth. The brand on. Macy’s added an augmented mirroradded 85 stores during 2011, ending the to its flagship Manhattan store in lateyear with a total of 622. It too bought 2010. Customers select an item ofback franchise operations. clothing displayed on an iPad application and view themselves in the mirrorCustomer touch wearing the item.points added Relatively late to ecommerce, ZaraTechnology tools added excitement to introduced its US site and H&Msales and marketing as apparel fashion planned for a 2012 launch. Socialapps became, literally, an important shopping sites also influenced apparelcustomer touch point. A Nike app sales. By posting photos of merchandiseused GPS that enabled runners to to a variety of social shopping sites,

Product Categories Apparel 51By posting photos of merchandise to a SPOTLIGHTvariety of social shopping sites, shopperscould gain fashion advice or help locating APPAREL BRANDS YOUNGER THANhard-to-find items. MOST, BUT THE GAP IS CLOSING The average year of founding of the Top 10 apparel brands is 1963, which makes their average age 49shoppers could gain fashion advice or compared with an average age of 68 for the BrandZ™ Top 100.help locating hard-to-find items. Brand Toys: Zara & UniqloThe developing markets experienced The apparel brands are aging, Unique brands deliver great value however, while the averagerelatively strong sales, with China’sMetersbonwe, which serves a young age of the Top 100 is decliningurban audience, appreciating in brand with the introduction of newvalue. In contrast, the Li-Ning brand technology brands.value declined as it unsuccessfully All of the Top 10 apparel brandsattempted to pitch the sportswear brand were established in the twentiethtoward youth. Prominent in China, with century, as they were when wemerchandise in more than 8,000 outlets, first valued them in 2006.Li-Ning continued its internationalexpansion effort, entering India and Affordable fashion and trendy chic are The oldest apparel brand thenlaunching a US website. in. Zara and Uniqlo are both rated very was H&M, which was established good value because they are unique and in 1947. Hugo Boss, started in deliver excellent brand experiences. 1924, now is the oldest brand in BrandZ™ data classifies Zara as a the BrandZ™ apparel ranking. “Seductress,” being very “sexy,” Insight: “creative” and “playful” in character. 2006 2012 Apparel Additionally, Zara achieves excellent user recommendation scores. Uniqlo, Price, brand also well recommended by its users, Average age of Apparel Top 10 drove sales is quite different in personality being “In the last year, in the apparel seen as “caring,” “kind” and “generous” and thus a “Mother.” The Brand Toy visualizations show Zara as quite cool, 45 49 category, we saw that people wearing the trendy shades, and Uniqlo bought fewer items. This behavior as particularly trustworthy, having large was essentially driven by price. Average age of all solid legs. The flowers in the hand of Top 100 brands Alongside increased sourcing Uniqlo Brand Toy show kindness. No costs this price incline is also wonder both brands rose in value in the driven in the discounted market where people are trading up to 2012 BrandZ™ ranking. 84 68 buy that more expensive branded good at a discount.” Julie MacPherson, Source: BrandZ™ Data Client Manager, Kantar Worldpanel, London

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable52 Global Brands 2012BeerBrands positioned for faster growth worldwide Genuine Draft and Peroni are amongBrands advanced the global brands of SABMiller. Its key Insight:growth plans last year, regional beers include Coors Light and Beer Miller Lite, marketed in the US in a jointamid regulations, venture with MolsonCoors. Building globalcompetition and Regionally, AB-InBev continued to brand portfolios enjoy success with Bud Light, whicheconomic uncertainty. reclaimed its number one position inIn the largest transaction, South Africa’s brand valuation based on its strength in “I think one of the most interestingSABMiller acquired Foster’s Group, the the US, where it sponsored the NFL trends in the beer category overAustralian Brewer. It also completed, (National Football League). To reinforce the last 12 months has been thatin March 2012, a strategic alliance with Budweiser, the brand introduced a new of global branding. As the bigAnadolu Efes, a Turkish company, for visual identity, using a bow tie shape players get bigger and biggermarketing in Turkey, Russia, Central Asia taken from its graphics heritage. they are creating portfolios out ofand the Middle East. SAB is the world’s brands that come from all over the These activities took place in a world to create really appealingsecond largest brewer after Belgium’s challenging environment for beer sales in brand offers to consumers.”AB-InBev. The two conglomerates each developed markets. The trend away frommarket more than 200 beer brands. on-trade drinking continued, particularly Nick Cooper,They attempted to grow sales of both in the UK, and many retailers discounted Managing Director,global brand leaders and brands with brands to drive traffic. Governments Millward Brown Optimortargeted geographic or demographic promulgated regulations to curb bingeappeal. Sales of AB-InBev’s global drinking, the troubled economy hurtbrands—Budweiser, Stella Artois and premium brands and the rising interestBeck’s—grew by over 3 percent. Miller in wine impacted brands at all levels.

Product Categories Beer 53 Movers and shakers Brand Value Brand Brand Brand Value $M Contribution Momentum Change1 Bud Light 8,368 4 7 17%2 Budweiser 7,514 4 6 -15%3 HEINEKEN 6,058 4 5 -8% Beer4 Corona 5,114 4 7 -6% Down 1%5 Skol 4,698 5 7 3%6 Stella Artois 4,529 4 6 0%7 Guinness 4,044 5 7 17%8 Brahma 2,359 5 7 18%9 Miller Lite 2,313 3 8 -9%10 Beck’s 1,554 4 6 -20%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest). Looking to The larger brewers also sought more opportunities in Africa and India. fast growing markets SABMiller already operates in more than Seeking faster growth and less regulation, 30 African countries, generally with its the major brewers focused much French joint-venture partner, Castel. attention on the BRICs and other fast Guinness is well received in Africa growing markets. In partnership with where it is seen as a premium drink and a China Resources Enterprises, SABMiller virility enhancer. Although Africa’s poor announced plans to introduce Miller transportation and cooling challengeBud offered an app Genuine Draft in central China. In a joint most beers, it does not disadvantage Guinness because the brand is intendedthat discounted the venture, SABMiller and China Resource for consumption at ambient temperature. Enterprises produce Snow, China’scost of beer on very leading brand and one the world’s mosthot days. Once the consumed beers. Regulations reach fast growing marketstemperature reached a Heineken invested heavily in China in the premium segment, using both the Heineken But even the fast growing marketscertain heat index the brand and local brands. Heineken expects became more challenging. Unitedapp issued the user a Brazil and Mexico to drive a substantial Breweries, which leads the Indian beer proportion of future growth. AB-InBev market in popularity with its Kingfisherdiscount redeemable owns Brazil’s popular beer brand leaders, brand, introduced Heineken last year.at local pubs. Brahma, Skol and Antarctica. It launched But local regulations slowed the Indian Budweiser in Brazil during 2011. expansion of SABMiller and the other

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable54 Global Brands 2012 global brewers. An increase in taxes on imported beers contributed to a growing interest in local microbrews in Insight: Indian cities. Beer Turkey strengthened restrictions onSPOTLIGHT alcohol marketing and considered Added regulation raising the drinking age as part of the pushedBREWERS FOCUS government’s Islamic reform program. innovationEXPANSION ON FAST Russia prepared for legislation, to take effect in July 2012, banning television “One of the things I believe isGROWING MARKETS advertising of beer and restricting sales most prominent in the beerAlthough drinking beer remains of beer at night. category is the growth in regulationstrong in certain mature markets, that limits traditional advertising.such as Germany, brewers Russian beer brands, including the It creates a genuine opportunityincreasingly feel challenged by market leader, Baltika, which is owned for brands to be more innovativeregulation, competition and the by Carlsberg, are expected to shift some in their communications togrowing popularity of wine. marketing investment to sponsorship. their consumers.” Meanwhile, Baltika continued to leverageThe major brewers are focusing the brand by marketing to multipleattention on opportunities in Lara O’Shea, audiences naming all the beers BaltikaChina, India and other fast Director, Business Planning, and simply numbering the variations togrowing markets where they’re reach more underserved groups. Mindshare Luxury, Londonboth promoting global brandsand acquiring local brands. Beer innovates in social mediaConsumed beer in thelast 12 months Because of regulations restricting advertising in traditional media, beer% of those questioned brands have become some of most Brand Toys: Brahma 72 innovated practitioners of social A fun friend to invite to your party 58 media. Heineken last year launched an 55 53 50 48 interactive mobile app called Heineken Star Player. Tied in with the brands sponsorship of European football, the 7 app engages users in the game real time with opportunities to score points through quizzes and commentary on game action. Germany France GB Brazil China US India Bud offered an app that discounted the cost of beer on very hot days. Once the weather reaches a certain temperature, The advertising for Brahma tends to play the Budweiser Ice Cold app issued the on the fun and humor that is bottled withinSource: Global TGI user a discount redeemable at local pubs. this brand. It is an excellent example of Many generic beer apps called attention a brand that wears its personality on its to the category, including a beer calorie sleeve and as a result it is highly trusted counter and an app named simply iBeer and approachable. Brahma only entered that simulates a tall cold class of beer on a the BrandZ™ Top 10 beer ranking last smart phone screen. Users create a foamy year. In the 2012 BrandZ™ ranking it head by shaking the phone and pretend achieved the greatest percentage value to drink by tilting it. increase in the beer category. And it’s moving up in the rankings. Consumers Some innovation was real rather than rate Brahma as extremely good value and virtual. Brazil’s Brahma beer introduced it is fifth highest of all brands in Brand a can that converts into a cup. Instead of Contribution. In a crowded marketplace, pulling a ring tab to open a small spout, as in a crowded party, it is the attractive the user removes the entire top. The can personality that stands out. The Brand is called Brahma Copaço or Big Cup. Toy illustrates Brahma’s friendliness with the happy face button. The hat symbolizes assertiveness.

Product Categories Cars 55 Economic ups and downs drove stop and go sales Because of supply chain globalization Cars sales accelerated and just-in-time inventories, most in the US but slowed brands experienced shipment delays after the flooding and Fukushima in China and stalledCars nuclear accident in Japan and flooding in Europe. in Thailand. Toyota and Honda suffered the most serious supply disruption.

BrandZ™ Top 100 Most Valuable56 Global Brands 2012 Movers and shakers Brand Value Brand Brand Brand Value $M Contribution Momentum Change1 BMW 24,623 4 5 10%2 Toyota 21,779 3 5 -10%3 Mercedes-Benz 16,111 4 4 5%4 Honda 12,647 3 3 -11%5 Nissan 9,853 2 6 -2%6 Volkswagen 8,519 3 6 15%7 Ford 7,025 2 4 -5%8 Audi 4,703 4 5 23%9 Hyundai 3,598 3 6 N/A10 Lexus 3,392 2 4 -7%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).Toyota, however, regained some of The Korean brands Hyundai and Kiathe trust lost during the uncontrolled continued to fortify their presenceacceleration problems of two years ago, worldwide. With distinctive combinationswhich was eventually attributed to driver of quality, design and price, Hyundaierror. The Toyota Motor Corporation challenged competitors at all modelreceived the most awards for dependability levels. It entered the BrandZ™ rankingin the J.D. Power and Associates of the most valuable global car brands.dependability study. VW also experienced strong globalDetroit returned to the car business. As results. Sales of VW passenger cars rosethe US economy recovered, carmakers 13.1 percent overall, led by a 22.2 percentmarketed fuel-efficient family sedans increase in North America. Even inrather than SUVs built on truck frames. Europe, where car sales declined in mostThis downshift in size resulted in part country markets except Germany, VWfrom the need to meet government sales improved 12.3 percent. Global scalefuel-efficiency standards. To drive sales enabled the brand to deliver a premiumand profit, carmakers reduced costs and image at a competitive price. With a 15built products with improved style,technology and driving experience. percent increase in brand value, VW ascended into the ranks of the BrandZ™ CarsConsumer demand was the highest since Top 100 Most Valuable Global Brands.2006, according to Kantar Media. Down 7%

Product Categories Cars 57 Insight: Insight: Cars CarsMany brands loaded Detroit Designingcars with sophisticated came back for youthtechnology, includingvoice-activated “I’m excited about what I’m seeing “The key trends I see emerging in American cars. They obviously include fuel economy andcommunication and went through a very rough time, technology, particularly as it relatesentertainment, which but by all appearances they are to in-car connectivity and the on their way back. They will be importance of tackling the youthenhanced driving competing on a global scale and market. Unlike earlier generations,pleasure. In some they will be doing it much smarter young people don’t necessarily and better.” hold vehicles as their numberways, cars became the one ‘want.’”ultimate mobile device. Hayes Roth, Chief Marketing Officer, Donna Hultquist, Landor Worldwide, New York Director of Brand Strategy, Team Detroit VW, Mercedes and GM, which positions both design, attention to details andGrowth varied by brand itself in China with a good, better, best engineering improvements. With severaland market range of Chevy, Buick and Cadillac. Auto new model introductions, unit sales of sales in China grew 2.5 percent year-on- BMW rose more than 12 percent to 1.4Sales momentum in the US varied year to 18.5 million units. GM’s China million, setting a sales record with growthaccording to brand. GM reported record sales rose 8 percent to 2.6 million vehicles. in all regions, especially Asia.profits. Ford sales slowed but the brand A Chinese government plan to excludeenjoyed a reservoir of good will because Ironically, luxury cars may have import brands from the list of vehiclesit had rejected the government bailout. experienced a negative impact from approved for official use potentiallyIn an ongoing industry trend to reduce the rise in car quality overall. Because would impact the international players.the number of brands, Ford shed the of generally improved performance,Mercury, which it had introduced in 1938. Early in 2012, China’s Chery Auto and attention to design and the availability Jaguar Land Rover established a joint of sophisticated technology, factors thatThe Chrysler-Fiat arrangement seemed venture to sell the JLR brands and usually define luxury were availableto be working, too. Chrysler enjoyed a a new brand in China. India’s Tata more broadly and less expensively.massive turnaround into profitability, with Motors, meanwhile, continued to learnthe introduction of the first cross-platform Many brands loaded cars with from its acquisition of Jaguar Landeffort of Chrysler and Fiat, the Dodge sophisticated technology, including Rover, and it repositioned its inexpensiveDart, which shares styling with the Alfa voice-activated communication and Nano to make the entry-level car seemRomeo Giulietta. This development entertainment, which enhanced driving more aspirational.highlighted the efficiencies gained from pleasure. Some included features likethe globalization of the car industry. lane-changing alert that improved drivingEurope’s troubled economy impacted Technology went safety. Innovations in collision-avoidanceFiat sales, however. And weakness in its mainstream technology generally differentiatedGerman-based Opel division prompted the luxury brands. In some ways, cars At the other end of the market fromGM to consider collaborating with other became the ultimate mobile device. Nano, luxury brands offered moreEuropean automakers as a way to cut costs. affordable vehicle options, impactingAlthough auto sales in China slowed, the some of the mid-market entrants,country remained the world’s largest auto particularly in Europe. Within themarket and a critical volume-driver for sector, Audi continued to make inroads,several Western brands, including Audi, at the expense of Mercedes, based on

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable58 Global Brands 2012SPOTLIGHT The car industry faces future demographicCAR OWNERSHIP challenges. Among socially networked youth,GROWS IN INDIA cars become less necessary for staying inIncreased household purchasing touch with friends. For them, cars do not definepower is changing the way personal status as they did for their parents.Indians are meeting theirtransportation needs.Declining scooter sales initiallywere matched by a sharp increasein motorcycle purchases. Fuel-savingAs cars become more affordable, alternatives explored Brand Toys: Hyundaihowever, car sales are gaining asmotorcycle sales level. Getting talked about Hybrid sales remained steady, led by Toyota’s Prius. While electric car development continued, the technologyCar ownership in India remained impractical for the mass% of households owning vehicles market because of the limited driving range, inadequate power and the lack of50% a battery-recharging infrastructure. Two plug-in cars, the Nissan Leaf and Chevy40% Volt, missed sales targets. The Chinese BYD brand, which received several billion dollars from investor Warren A newcomer to the BrandZ™ Top 1030% Buffet three years ago, continued its most valuable car brands, Hyundai has development of electric cars but shifted been gaining value because of its great some attention to buses and other value positioning. Five-year warranties20% commercial vehicles. in many markets, together with an The car industry faces future increasingly stylish line-up of new10% demographic challenges. Increased models, have helped to underline the urbanization may reduce dependence on delivery of the brand’s quality promise. cars as people turn to public transportation The brand is felt to be relatively “playful”0% or car sharing arrangements to reduce and “innocent” as well as “brave.” These 2001 2006 2011 traffic and pollution. Also, among the brand personality characteristics combine socially networked youth, cars become to make Hyundai a very approachable Scooters less necessary for staying in touch with “Hero.” The vast ears on the Brand Motorcycles friends. For them, cars do not define Toy symbolize the high chatter that the Cars personal status as they did for their brand attracts. The glasses indicate that parents. And a computer or mobile the brand is different. device is much more affordable.Source: Global TGI

Product Categories Fast Food 59 Pressured to hold prices while Taco Bell prepared to commodity prices increased, the QSRs roll out First Meal and also continued to improve their menus, décor and service to draw diners from the Wendy’s, the hamburger somewhat more upscale family restaurant chain, offered egg segment. Several chains experimented with snacks. Subway added more Café sandwiches, as more outlets. McDonald’s began testing baked chains entered the goods in certain US markets, in 2012. breakfast business. The success of Starbucks inspired the move to breakfast and coffee. In its 40th anniversary year, Starbucks expandedFast Food The addition of new meal times was one the brand focus with the introduction of several strategies that QSR (Quick of a revised logo that retained the iconic Service Restaurants) implemented to mermaid but removed the word coffee. drive sales during the economy’s slow Total revenue increased 9 percent to $11.7 recovery. Taco Bell’s First Meal balanced billion and same-store sales improved 8 its Fourth Meal, the late-night snack theChains chain introduced in 2006. percent. The company ended the year with about 17,000 locations, includingscrambled Breakfast was among the reasons that McDonald’s reported its highest same- 6,216 outside the US. It also accumulated almost 30 million Facebook “Likes.” store increases since 2006. In the US,to add new sale-store results increased 7.1 percent, in Europe, 7.3 percent and 6.9 percent Wendy’s became number two in the USmeals and cut in Asia, the Middle East and Africa. On the strength of these results McDonald’s In August, Burger King deposed itscalories planed to open 1,300 new units this year and remodel 2,400. king character. By yearend it ceded the number two total sales rank in the US

BrandZ™ Top 100 Most Valuable60 Global Brands 2012 Movers and shakers Fast Food Up 15% Brand Value Brand Brand Brand Value $M Contribution Momentum Change1 McDonald’s 95,188 4 8 17%2 Starbucks 17,072 4 9 43%3 Subway 14,843 4 8 4%4 KFC 8,852 3 8 8%5 Pizza Hut 5,397 3 8 2%6 Tim Hortons 3,346 4 8 25%7 Taco Bell 2,045 3 6 9%8 Wendy’s 1,722 4 6 -14%9 Domino’s 797 2 4 29%10 Arby’s 344 3 5 N/ASource:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).burger chain segment to Wendy’s. Burger and Asia compensating for negativeKing operated around 7,500 restaurants in results in North America.the US and Canada, roughly 1,000 more Domino’s Pizza catered to the value-than Wendy’s, and compared with more hungry consumer with two special pizzasthan 14,000 McDonald’s US outlets. priced under $10, which it promotedThe three major burger chains each with traditional advertising and mobileemployed what they termed a “barbell apps for ordering. Mobile and onlinestrategy,” offering a mix of both bargain ordering comprised 30 percent of salesand premium items to satisfy core for Domino’s.customers while appealing to thosetrading down from more expensive family Healthier choices offereddining to fast food for a more affordable The chains continued to offer healthiereating-out occasion. McDonald’s meal options, responding to parentalprospered in this environment. concerns and publicity, in the US,Brands more dependent on the traditional surrounding Michelle Obama’s “Let’sfast food customer, felt the impact of Move” campaign to fight obesity andhigh unemployment among young encourage health and wellness. Themen. Burger King’s North American word “healthy” appeared on menussame-store comparisons improved but 86 percent more frequently in the US,remained negative. They declined 0.5 according to Technomic, a Chicago-percent worldwide with Latin America based research firm.

Product Categories Fast Food 61McDonald’s launched Championsof Play, a global ad campaign aboutchildren’s health and linked to its Insight:Olympics sponsorship. Based on localcompetitions, the chain planned to send Fast Foodchildren from around the world to visit Healthier SPOTLIGHTthe 2012 Summer Games in London. sales withStarbucks planned to add bottled juices breakfast HEALTHY EATINGto its offering. BEHAVIOR VARIESSubway, maintained its reputation for “I think really the key issue this year is pretty much breakfast, adding How consumers feel and acthealthier options. It reduced the sodium a day part, and we’re starting to regarding food health concernscontent of its meals and provided see a bit of a change happen as varies. Although 29 percent of USnutritional and caloric intake information. a consequence, as some revenue consumers said they always thinkAnd it continued its international picks up.” of the calories in the food theygrowth, ending the year with about eat, 85 percent ate in a fast food36,500 outlets in 100 countries. Like its restaurant during the past year.competition, however, it was helpless to Philip Herr, Senior Viceimprove the high level of unemployment President, Millward Brown In contrast, 27 percent ofthat impacted business all day, especially consumers expressed awarenessthe key lunch meal. of calories in France and Russia, 383 but respectively, only 23 percentBRICs drove and 28 percent of consumers, ate in a fast food restaurant.strong growth Brand Toys: The disparity may be explainedThe appeal of Western brands and anexpanding middle class continued to Domino’s Pizza by the proliferation of fast food options in the US, healthierdrive the popularity of fast food in fast A voracious appetite options in fast food restaurantsgrowing markets. Yum! Brands, owner and cultural differences, includingof KFC, Pizza Hut and Taco Bell, with the preference for local cuisine inmore than 37,000 restaurants worldwide, certain countries.credited overseas sales, especially inChina, for balancing domestic weakness.Same-store sales grew 19 percent in Eating habitsChina last year, compared with 1 percent 85growth in the US and 3 percent outsidethe US overall, except for China. The Domino’s Pizza Brand Toy is aYum! opened 656 restaurants in China friendly “Joker.” You can see it in theduring 2011, and 905 in other international eyes. It’s also quite creative, as indicated 56locations. During October 2011, Starbucks by the paintbrush in the Brand Toy’s 51opened its 500th store in Mainland China. hand. Not only has this toy enjoyed quiteStarbucks and Dunkin’ Donuts planned a few large pizzas, but so have more andto open their first Indian restaurants 35 34 more customers in China and other fastthis year. McDonalds’ and Yum! Brands 28 27 29 growing markets. The improvement of 27expect to accelerate growth in India. Yum! 23 the Domino’s Pizza recipe for its crustplans to open 500 KFC outlets in India and sauce two years ago has clearly paidduring the next four years. off. The appetite for this brand is growing as it makes itself available in different France Russia US Brazil India regions of the world and innovates with online ordering and convenient delivery. % of people who have consumed fast food in the past 12 months % of people who always think of the calories they eat Source: Global TGI

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable62 Global Brands 2012FinancialInstitutionsBanksRegulations, lack of trust challenge banksBanks earned profits, new five-dollar fee each month that a customer used a debit card. The bank affluent customers. But even affluent customers remained skeptical of thebut not affection. reversed its position after a few days of advice received from financial institutions.Financially stressed Americans and online criticism. Wells Fargo and Chase also backed away from similar plans. Seeking profit opportunities, US banksEuropeans resented an industry with prepared to reenter the business thata short memory. Having been rescued The fees were to compensate for fomented the financial crisis - mortgages.by public funds, the banks seemed revenue streams lost to stricter regulations. The move coincided with a new USunwilling to extend credit to a public As certain transactions became less government home refinancing program.and small businesses in need of profitable, the banks invested little infinancial help. new product innovation and focused Challenging environmentThe Occupy Wall Street movement instead on service delivery systems, such brought mixed resultsgalvanized this disenchantment. But as online and mobile banking. Exposure to Eurozone debt required UK and Within this challenging environment,consumers didn’t abandon their banks, Continental European banks to prudently only a few brands appreciated in value.mostly because switching seemed more increase their capital reserves, which Wells Fargo completed the acquisition ofpainful than staying. In fact, when reduced funds available for lending. Wachovia in a systematic way that helpedOccupy Wall Street planned a bank retain exiting customers and acquire newtransfer day for November 2011, few Many banks turned their attention to ones. The complicated merging of thepeople participated. more affluent customers and greater ROI two banks took place over 18 months. ItConsumer complacency ended with a potential. The banks offered incentives, featured clear customer communicationsocial media rebellion sparked by the such as banking relationship managers, and ultimately combined the serviceBank of America announcement of a to these so-called “high value,” mass orientation of Wachovia with the

Product Categories Financial Institutions 63 Movers and shakers Finance No change in brand value Brand Value Brand Brand Brand Value $M Contribution Momentum Change1 ICBC 41,518 2 9 -7% Insight: Finance2 Wells Fargo 39,754 3 3 8% Adding value,3 Visa 38,284 4 9 34% not resentment4 China Construction Bank 24,517 2 4 -4% “I think the big trend for financial5 MasterCard 20,759 4 8 53% services brands in this current year is going to be about restoring6 American Express 20,198 4 3 18% confidence and overcoming resentment through utility. It’s7 HSBC 19,313 3 3 -14% going to be about adding value to consumers’ lives instead of making8 Agricultural Bank of China 17,867 2 4 6% money on money, which is where a lot of cultural resentment is coming9 RBC 17,225 4 3 0% from. It’s going to be about fairer and more transparent business10 TD 14,561 4 3 -14% behavior as it relates to consumer, merchants, shareholders and11 Commonwealth Bank 13,083 3 7 N/A other stakeholders.”12 Bank of China 12,982 2 6 -26% Robert Rakowitz, Managing Director13 ICICI Bank 12,665 2 2 -15% Communications Planning, Mindshare, New York14 US Bank 11,488 3 2 9%15 Sberbank 10,649 3 5 25%16 Standard Chartered 10,064 2 1 -16%17 Citi 9,760 2 1 -38%18 Scotiabank 9,627 2 3 -4%19 Chase 8,644 3 3 -28%20 Santander 8,546 3 2 -25%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).

BrandZ™ Top 100 Most Valuable64 Global Brands 2012Russia’s Sberbank enjoyed the results of anongoing roll out of new brand prototypes thatare more targeted to specific customers andmuch more customer-friendly than theSoviet-era versions they replaced.technological expertise of Wells Fargo. financial results, they continued to suffer Next generation, newIn addition, Wells Fargo emphasized reputational fallout from the bankinginvestment services that appealed to crisis, as did the major investment banks. opportunitieshigher value customers. The banks needed new opportunities, Slowed BRIC momentum but few sufficiently prepared for the nextCommonwealth Bank of Australiabenefited from its proximity to fast- impacted brands generation of customers who may reject traditional banking services in favor ofgrowth Asian markets. Specifically, Russia’s Sberbank enjoyed the results transactions performed instantaneouslythe brand invested substantially to of an ongoing roll out of new brand and with a mobile device. In an approachimprove technology and productivity prototypes that are more targeted to successfully pioneered by Chase, someand expand in Indonesia, China specific customers and much more banks began to accept checks photographedand Vietnam. In contrast, US Bank customer friendly than the Soviet- with a mobile device and emailed forbenefitted from expansion closer to era versions they replaced. Sberbank deposit using special security codes.home with the acquisition of a New expanded its footprint into Central andMexico regional bank in 2011. In January Eastern Europe with the acquisition of Technology opened the possibility2012, US Bank entered an agreement Volksbank International. of new competition from outside theto buy a medium-size Tennessee bank. financial industry. Google, telecoms andThese banks also were less exposed to As the rate of growth slowed somewhat in retailers, such as Walmart and Target,products that precipitated the financial the BRIC countries, banks no longer could attempted to develop mobile paymentcrisis. This conservative approach also depend on those economies to balance systems. China Mobile invested almostcharacterized RBC. difficulties in Europe or North America. $800 million in 2011 to set up a unit And global interconnectedness exposed called China Mobile Finance. The moveHSBC shifted away from the tagline banks to new dynamics, such as reduced followed the purchase of a bank in 2010.“World’s Local Bank,” as a strategy. export of commodities from Brazil becauseInstead, based on its strong presence in of lower demand from China. Mobile payments have becomeboth developed and developing markets, popular in parts of Africa withoutHSBC is intent on being a commercial Economic dynamics and currency extensive banking infrastructure.world bank, a facilitator and beneficiary fluctuations impacted Itaú, Brazil’s But the concern that personal data isof world trade and globalization. It is largest bank, as well as Spain’s Santander. vulnerable to interception by Near Fieldhoning its focus on Asia and gradually Latin America generates over 50 percent Communications so far has inhibitedquitting markets where it lacks scale. of the Santander’s profit; Brazil alone public acceptance of mobile payments inHSBC pulled back from retail banking accounts for 28 percent. The sovereign North American and Europe.in the US and Russia in 2011, and plans debt crises of Spain and Portugal also affected Santander’s results. While extensive legacy technologyto quit Japan and South Korea in 2012. slowed the ability of banks to integrateTD acquired Commerce bank, which The Chinese banks continued to look their full offerings in consumer-friendlyenjoyed a reputation for strong service abroad for expansion. During 2011, ways, non-traditional financial firms,and convenience. Capital One prepared ICBC, the country’s largest bank, such Mint in the US and Spain’s Túto acquire ING Direct, in an effort received a license to open in Mumbai. At Cuentas, already aggregated diverseto combine a well-established online the same time, India’s ICICI experienced personal financial records into easy-to-banking presence with retail presence. higher credit costs, which moderated use dashboards.Although Chase and Citi enjoyed strong profit growth.

Product Categories Financial Institutions 65 Credit Cards Brands added new products, mobile options Credit card brands The initiative drove additional revenue Insight: for Amex, benefited cardholders with Finance avoided much of the savings, and helped small business Seeking new consumer anger and Amex customers. It also helped strengthen Amex’s relationship with revenue ideas distrust that impacted small businesses. Amex launched a other financial brands. pre-paid card, which did not carry any fees and was expected to have“I think that as banks and card Having partnered with banks and broad appeal. companies have found increasing persuaded consumers to regard them as a gateway to the good life, the brands sought pressure on their abilities to the warmer glow of the technology sector. MasterCard, Visa open charge money through swipe fees, they’ve turned their attentions to Visa described itself as “a global payments mobile wallets alternative sources of revenue like technology company.” MasterCard chose MasterCard collaborated with Google and pre-paid products that enable the this phrase, “a technology-driven, global Citibank on the Google Wallet mobile companies to reach a different payments company.” payment initiative. Google Wallet users segment of the population and get The brands benefitted from the ongoing carry virtual versions of their Citi credit extra money from doing so.” trend away from cash to the more frequent card information on their mobile devices use of credit and debit for purchases both and pay by transmitting the information James Cleaver, large and small, for a vacation cruise or a at payment terminals equipped with Planning Director, tall latte. And not immune to some of the NFC (Near Field Communications). Ogilvy, New York regulations and restrictions on fees that MasterCard also formed a joint venture affected financial institutions, the brands with Telefónica to provide mobile devoted much attention to developing payment solutions in Latin America. programs to drive new revenues. In another transaction innovation, MasterCard marketed PayPass, a facility Amex targeted holiday designed to speed up transaction time, purchasing especially at checkouts. Payments are processed by quickly tapping a card In the second year of its Small Business rather than swiping it and waiting for a Saturday promotion, Amex drove delayed response. significant revenue for the brand’s small merchant customers. Held in the US on Visa accelerated the development of Visa the Saturday after Thanksgiving, at the Digital Wallet. Separately, it entered kickoff of the holiday gift-buying season, a mobile payment partnership with the program rewards Amex cardholders Vodafone. Announced in early 2012, the with a $25 credit on their statement Vodafone program will launch in Europe. when they shop with small merchants. The brand also formed a strategicThe brands benefitted from the ongoing trendaway from cash to the more frequent use ofcredit and debit for purchases both large andsmall, for a vacation cruise or a tall latte.

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable66 Global Brands 2012 partnership with Intel to create mobile payment options. Brand Toys: A sponsor of the Olympics since 1986, Commonwealth Bank Visa spent much of 2011 preparing for Leading by example its sponsorship of the 2012 SummerSPOTLIGHT Games in London. All credit card ticket purchases must be made with Visa.CARD ISSUERS During the Olympics, Visa and SamsungSEEK CREDIT plan to introduce a mobile payment appFIRST-TIMERS for making contactless transactions at the point of purchase.The level of credit card ownershipvaries by country. Brands continued to In a world where consumers mistrustIt’s expanding most rapidly in the differentiate financial institutions, Commonwealthfast growing markets, such asBrazil and Chile, as banks issue Meanwhile, known to consumers as Bank (of Australia), a newcomer to thecards to lower income individuals, options for paying for goods and services, BrandZ™ Top 100, is an exception.many of whom are receiving bank the brands continued to aggressively Showing strong leadership and ratedcredit for the first time. explain their points of differentiation. highly responsible, the brand is Amex, actually a bank rather than a significantly more trusted than manyIn Chile, many of the major payment system, pitched its exclusivity. other banks. The necktie on theretailers issue widely accepted With its “Priceless” campaign, Brand Toy indicates that the brand iscredit cards to people in all MasterCard associated itself with special straightforward, while the clock it’seconomic levels. occasions. Visa stressed its the day-to- holding says “in control.” The impactTo increase credit card distribution day indispensability, using the strapline, of these characteristics is indicated inin the US, banks also are “Life flows better.” the chart below. The blue line showsattempting to reach lower the overall decline for brands in allincome consumers. US banks categories. The red line traces theare developing new products, especially steep decline experiencedincluding prepaid cards. by bank brands. In contrast, the green dot shows that Commonwealth Bank Insight: is more trusted today than banks wereCredit card owners Finance five years ago before the financial crisis.% of population Commonwealth Bank is poised to Industry faced capitalize on the strength of its brand82 new threats across the fast growing economies of Asia. 72 62 Trust and Commonwealth Bank 61 56 “Considering possible threats to 46 the financial category, I think one 106 COMMONWEALTH of the really interesting things is BANK that they’ll come from a number BA 104 N of different places. So, some KI 21 N G threats will come from new kinds 102 10 7 of competitors, new kinds of BA ALL NK categories or people moving 100 B RANDS ALL IN BR into payment spaces or banking G ANDSFrance GB US Germany Brazil Chile China Mexico India spaces or they could come from 98 BA completely different industries or KIN N G from peer-to-peer.” 96 BA NK I NGBase: 18+ Sarah King, 94Source: Global TGI Managing Director, The Futures Company, London 92 90 88 2008 2010 2012 Source: BrandZ™ Data

Product Categories Insurance 67 insurance companies to maintain larger A perfect storm of reserves to protect solvency. Meanwhile, economic uncertainty, insurers competed fiercely, facing the disruptive effect of online sales and the specter of new aggregators, and struggling to improve regulations, payouts distribution channels. for major disasters, The key question was whether to sell direct or go through partners and political upheaval and intermediaries. With no single right heightened competition answer, the insurers experimented with various approaches, attempting impacted insurance to improve the brand experience byInsurance industry results last year. These factors touched all varieties of simplifying purchasing. They followed a linear logic. By winning insurance—property and casualty, life, B2B in search, the brands expected to and perhaps to a lesser extent, health— increase their share of quotes and convertDebt, and they elicited a variety of reactions. The European sovereign debt crisis the quotes into an increase in policies signed. As an added benefit, a shift to direct online sales could reduce reliancedisasters, weakened the investment portfolios of many major insurers. Major earthquakes on agents and the size of commissions.upheaval in New Zealand, Turkey and Japan— followed by a tsunami and nuclear Strengthening the direct channelformed perfect crisis—required payouts that exceeded expectations. The year also included To maximize search results and capture extraordinary weather-related events,storm such as Hurricane Irene in the eastern US and tornados in the Midwest. more leads, Allstate last year purchased an insurance aggregator called esurance. Esurance provides online visitors Insurers planned for Solvency II, rules with quotes from Allstate and Allstate promulgated in Brussels that require EU competitors because, as the website’s

BrandZ™ Top 100 Most Valuable68 Global Brands 2012 Movers and shakers Brand Value Brand Brand Brand Value $M Contribution Momentum Change1 China Life 14,587 3 9 -25%2 Ping An 10,174 3 9 -3%3 State Farm 7,813 2 5 -7%4 CPIC 3,387 2 9 -7%5 AXA 3,333 1 1 -5%6 Allianz 2,866 2 6 -45%7 GEICO 2,733 2 7 -2%8 Zurich 1,891 2 6 -7%9 MetLife 1,858 2 2 -18%10 Allstate 1,496 2 5 -20%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).headline explains, “The key to saving the US is relatively underinsured as a nation.is comparing, and you can do all the Also, simplifying life insurance withcomparing you need right here.” the online option lowered a barrier toEnsurance complements the Allstate purchase. Selling direct should makebrand website and the brand’s agent life insurance accessible to a younger,network. And it enables Allstate to technology-oriented generation morecompete in the direct channel with comfortable engaging online thancompanies like Progressive and Geico. completing paper questionnaires. TheThe Progressive value proposition online option potentially lowers costs andis about easy, transparent one-stop helps advance Met’s brand propositionshopping where the consumer can of providing the right coverage at aobtain several quotes from competing reasonable price.companies. While Progressive may not In B2B, Zurich similarly invested heavilyalways win the business, it receives a in digital as a supplementary channel tohigh share of quotes. its agent-generated business, in an effortIn the life insurance business, Metlife to more effectively reach small businessexpanded its distribution into the midmarket owners. Zurich intended to influenceby investing heavily in developing a websiteoption for purchasing term life insurance risk managers at small businesses to make the brand became a larger part of Insurance Down 16%without face-to-face agent involvement. the decision process.The online approach addressed the fact that

Product Categories Insurance 69 40 percent. Although the investmentFinancial turmoil, other portfolio of Ping An performed well,factors impact insurers a one-time accounting adjustment for the consolidation of ShenzhenRegardless of how insurers attempted to Development Bank negatively impactedimprove their results, however, too many profits. Ping An, China’s second-largest SPOTLIGHTfactors last year were beyond their control. insurer, intends to acquire ShenzhenFrance’s AXA credited the diversificationof its business for generally protecting Development Bank as part its strategy ONLINE INSURANCE to become an integrated financialit from these vicissitudes. But financial services company. BUYING INCREASESresults for many brands reflected their Individuals in developed marketsvulnerability to political conditions and Insurers mostly escaped at least one of are more likely to be insured thanmarket fluctuations. last year’s hazards, the ongoing erosion of people in developing markets. brand reputation in the financial sector.Those factors in part account for a 46.2 In developed markets, consumers Less public than the banks, insurancepercent decline in net income for Allianz, increasingly are purchasing brands emerged less vilified.the Germany-based insurer. China insurance online rather thanLife anticipated a profit decline of over through an agent, the traditional channel. This Internet disintermediation Brand Toys: China Life is most pronounced in the UK. Insight: King of the Jungle But the global trend is clear in BrandZ™ data, which shows Insurance that the number of consumers Brands consider searching for information online distribution more than doubled during the models past six years, increasing to 12 percent in 2011, from 5 percent in 2006. “Many of the brands are struggling The proportion of brands with the question of what’s the recommended by users increased right model for distribution. Do I China Life, the most valuable insurance over the same period, from 43 go through two-step distribution brand in the world, is a great friendly percent to 49 percent, according channels? Do I go through partners gorilla of a Brand Toy with thick, trusted to BrandZ™ data. and intermediaries? Do I sell direct? legs, a winning smile and a caring hat. How can competing channels The BrandZ™ data suggest that it is a Insurance customers best coexist? There isn’t a clear “King” that justifies its price premium % of people with insurance single answer. In a lot of cases it because it is “desirable,” “in control” depends on the type of insurance, and “assertive.” You know where you Germany and whether direct is growing more stand with a brand like this and the no- rapidly than sales through agents.” nonsense persona underlines brand trust in a category that, in essence, is about 97 GB Harvey Kipnis, delivery of promises. In a category that 6 Regional Director, tends to have lower levels of Brand Contribution, China Life scores very 88 Ogilvy One NA well. And in spite of losing value this 18 year (because of financial reasons rather US 88 than the brand), the brand is poised for a good future with a very high Brand 2 Momentum score. 65 India Russia 28 1 Bought online Source: Global TGI, BrandZ™ data

BrandZ™ Top 100 Most Valuable70 Global Brands 2012LuxuryFeelingentitled,consumersspent onluxury goodsLuxury brands International travel increased the appetite for luxury in fast growing Building on qualityexpanded their markets and drove category sales. The and exclusivitypresence with new impact was large enough to earn the label TLC, Traveling Luxury Consumer. In its determination to reject a takeover by LVMH, Hermès reflected thestores, e-commerce Travelers purchase about half of all the characteristics traditionally associatedand extensive luxury goods sold in Europe, according to Goldman Sachs, with Chinese with luxury: heritage, craftsmanship, elite access and strong emotional appeal.advertising. travelers accounting for about 18 percent Hermès operating income increased 32.5 of European luxury sales. percent to €885.2 million ($1.2 billion)Having endured several years of on sales growth of 18.3 percent to €2.8economic difficulty, North Americans Although luxury goods predominately billion ($3.8 billion).and Europeans who could afford luxury remained the domain of European andindulged. More people of average means North American brands, several luxury The result reflected strong performancesengaged with luxury brands, purchasing brands originated in Brazil and Russian in most regions, led by Asia (excludingan affordable item, if possible. And luxury brands started to appear. Even in Japan), which was up by 29 percentluxury brands continued to enjoy healthy China, where the upwardly mobile and the US, up 26 percent. Even insales in China and other fast growing display luxury to denote status, economically stressed Europe, Hermèsmarkets with expanding middle classes. consumers demonstrated a high level of sales grew by 16 percent. In contrast, brand knowledge and appreciation Japan sales were flat, suggesting thatIncreased urbanization also contributed for craftsmanship. economic problems compounded by theto the demand for luxury. And in both tsunami and nuclear disaster impacteddeveloped and developing markets, luxury Meanwhile, luxury brands continued the appetite for luxury.increasingly was less about bling and to struggle to reach the right balancemore about appreciating craftsmanship between protecting the exclusivity that In a similar way, Rolex and Pradaand sharing the pleasure. Consumers to an extent defines luxury, and making emphasized the exclusivity of theirfocused less on collecting luxury labels the brand experience accessible to a brands. Prada owns the Prada, Miu Miu,and more on creating a unique personal wider audience. Church’s Shoes and Car Shoe luxurylook that often mixed luxury brands with brands. Sales of their brands increased bymore affordable options. over 21 percent through the first half of

Product Categories Luxury 71 Movers and shakers Luxury Brand Value Brand Brand Brand Value Up 15% $M Contribution Momentum Change1 Louis Vuitton 25,920 5 8 7%2 Hermès 19,161 5 8 61%3 Rolex 7,171 5 10 36%4 CHANEL 6,677 5 9 -2%5 Gucci 6,420 5 7 -14%6 Prada 5,788 5 9 N/A7 Cartier 4,843 5 9 -9%8 Hennessy 4,596 5 8 -8%9 Moët & Chandon 4,217 5 8 -8%10 Burberry 4,090 4 10 21%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).2011, driven by a 35 percent spike in Asia Making heritagewith strong growth in North Americaand Europe. contemporary and relevantFollowig its IPO (Initial Public Offering)in June 2011 on the Hong Kong Stock Burberry extended the brand’s appeal,Exchange, which raised over €206 creating a youthful virtual world inmillion ($275 million), Prada planned which customers experience the brandto add about 80 stores annually over the by viewing fashion shows, for example.next three years, including a total of 30 The brand added a new twist to its iconicstores in China. Most of the openings trench coat with Burberry Bespoke, awill be Prada brand stores, reflecting a website facility that enables the customergeneral trend among luxury brands to to assemble a unique trench coat online,assert tighter brand control by shifting selecting style, fabric, color and otheraway from licensing and franchising. individualizing options.The brand currently operates more than Brands also attempted to unify the200 stores worldwide and also distributes advertising and online expressions of thethrough an extensive wholesale network. brand with the in-store experience. Louis Vuitton, for example designed a store on Marina Bay in Singapore to resemble a cruise ship, reflecting the brand’s travel heritage, which also is celebrated on the LV website.

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable72 Global Brands 2012 In an effort to widen its audience to younger people, Tiffany launched a site called “What Makes True Love,” Insight: on which any couple can post a photo of themselves and tell their love story. LuxurySPOTLIGHT Dunhill uses an augmented reality It was about application that integrates its print and the experienceLUXURY GAINS online experience into a single unified campaign. A mobile device held in frontIMPORTANCE IN of a Dunhill ad animates it. Chanel used “Luxury is a lot more about theFAST GROWING an iPad application to promote its J12 experience as opposed to just theMARKETS Marine watch series. products, so it’s about fashion shows and it’s about what typeOn average, the consumer’s To reach new followers brands also of girl has this handbag and whatattitude about the importance of experimented with collaboration and type of person wears that dress,luxury remained flat during 2011, co-creation, sometimes with bloggers. who’s blogging about it, who’scompared with 2010, but country- Working with the Royal College of Art, tweeting about it. It’s more aboutby-country variations occurred. Fendi provided teams of students with the experience as a whole as supplies of leather and challenged them opposed to just maybe that car,The number of consumers who to design works of art for display in the that fine wine.”thought luxury was important brand’s newest London store.increased in the BRIC economies,other than Brazil. Alexis Cuddyre, Senior Designer,The decline in the US and other Digit, LondonEuropean countries reflectsfinancial concerns, but also arecalibration of values coming outof the recession. Insight:Luxury brands generally increased Luxuryin value in 2011, according Broader viewto BrandZ™ data, but luxury of valueconsumption became more Brand Toys: Burberryconsidered and less conspicuous. Innovate to succeed “I think there’s a shift in how peoplePurchasing luxury products: are approaching luxury. It’s muchextremely/very important in more built around your passionsyour personal life and what you might spend money% who agree on. For example, I’d rather spend 34 2010 two grand on an amazing bike 2011 than two grand on a handbag 28 that will last one season. I think you can see this in lots of places across the categories, so for Burberry is different. The Brand Toy example, fine dining has really certainly looks different. Big legs indicate 20 shifted to a much more informal strong trustworthiness and the open 16 15 bespoke way of eating. It’s about eyes represent charisma. In the world of 13 14 14 meeting new people and trying luxury, this brand is rated an exceptional12 11 11 10 amazing food you’ve never had, value. It has an unusual personality that 9 8 but it’s totally done away with is a mix of a wisdom and rebelliousness. white table cloths and the smart This unique combination underlines its napkins and that sort of thing.” growing appeal, particularly to a younger audience. The brand has innovated withGlobal India China Russia Brazil UK US Eleanor Sellar, the use of on-line fashion shows open Cultural Insight Team, to all, together with the opportunity to order items featured at the show Added Value, London before they’re available in store. TheseThe Futures Company: Global MONITORsurvey, 2011 initiatives have proven to be a smart way to grow and democratize the brand to a wider audience.

Product Categories Oil & Gas 73Oil & GasEnergychallengebecame morecomplicated The changing practice reflected a powerOnce again, the year’s shift away from the energy companiesbiggest energy story and toward the nations asserting authority Insight: over their assets. These nations usuallywas about disaster. control national oil companies capable Oil & GasThe Fukushima nuclear accident in of routine exploration. They engage the Rebuilding trustJapan followed by roughly a year the major multinationals only for the most for explorationDeep Water Horizon oil spill in the extreme and risky projects.Gulf of Mexico. The energy supplydrama was heightened by disruption in Undertaking the most “The brands in the oil and gasthe oil flowing from Libya during the category have been rebuildingArab Spring. difficult challenges trust and confidence in themselves, This evolving industry profit model, where among the public and in theThese developments revealed not just profit depends on undertaking the most governments, after the Gulf ofthe potential environmental impact of challenging work, may benefit certain Mexico disaster for BP. Becausesupplying the world’s energy needs, but brands such as ExxonMobile, which are in the next few years, and indeedthe complexity of the endeavor. They respected for technical expertise. next year, they will need to deepdemonstrated the category’s exposure to water drill and explore placesthe swings of geopolitics and of public The pursuit of especially challenging like the Arctic where publicopinion and pointed to the one area of projects also explains in part why the acceptance of that activity isconsensus—there’s no easy answer. major brands are rushing to explore incredibly important and can’t be reserves in Russia and the Arctic, mostAdding further complication, an ongoing guaranteed.” likely the Bering Sea, following recentlyshift in the industry business model resolved border disputes betweenpotentially diminished the power and Robert Alexander, Norway and Russia. Norway’s Statoilprofit potential of the major companies. Global Planning Director, has been active off of Greenland, FinlandTraditional production-sharing agreements JWT, London and Russia. BP initially led the waybetween oil and gas companies and the with its failed attempt to link withnations in which they work, increasingly Russia’s Rosnef.are being replaced with service contractsthat limit the company’s stake to a dollar- Leading oil and gas companies alsoper-barrel price. focused on the fast growing markets

BrandZ™ Top 100 Most Valuable74 Global Brands 2012 Movers and shakers Oil & Gas Brand Value Brand Brand Brand Value Up 8% $M Contribution Momentum Change1 ExxonMobil 18,315 1 7 8%2 Shell 17,781 1 3 17%3 Sinopec 13,940 1 10 N/A4 PetroChina 12,105 1 10 7%5 Petrobras 10,560 1 5 -21%6 BP 10,424 1 3 -17%7 Chevron 8,599 1 8 6%8 Gazprom 6,698 1 9 -2%9 ConocoPhillips 6,012 1 3 -7%10 Total 5,653 1 4 7%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).of Asia. Chevron, in particular, set up search for gas reserves in shale involvesextensive resources in Australia as a other environmental risks: the possibilityrelatively convenient base for exploring of groundwater contamination; and theAsian reserves. This kind of exploration fact that extracting gas depletes anotherrequires investment that may not resource that’s scarce in many parts of theproduce a return for a long period of world—water.time, if ever. Last year, for example,Shell began production in Qatar, turning Building brandsnatural gas into stable oil products, suchas diesel fuel and lubricants. Shell began worldwideinvesting in the relevant technology With public attention somewhat diverted bymore than thirty years ago. economic concerns, brands felt less pressureWith few exceptions, such as Statoil, to communicate about the contentiousthe majors brands did not focus issue of supplying the world’s energy needssubstantially on alternative clean energy, while protecting the environment. Becauserelative to their investment in fossil of the importance of public opinion whenfuels, although Shell pursued bio fuels. negotiating government contracts, mostInstead, companies moved toward gas brands engaged in debate, operated blogsexploration. Natural gas has become the and participated in online forums with policy“bridge” energy to renewables. But it’s makers, politicians, journalists, analysts andnever that simple in this category. The other influencers.

Product Categories Oil & Gas 75Shell’s “Let’s Go,” Chevron’s “We Agree,”and Statoil’s “Energy Realities,” conveyed a Brand Toys: Sinopecsimilar message: We’re working responsiblyto solve the challenge of meeting the world’s & PetroChinaenergy needs. BP worked to rehabilitate Twinned at birth?its reputation by investing heavily along SPOTLIGHTthe Gulf coast to repair damage to theenvironment, businesses and communities, DISASTERS HURTand by extensively publicizing itsinvestment using social media. INDUSTRY IMAGE Not surprisingly, disasters,ConocoPhillips announced intentions financial battles and politicalto split into two companies: one focused skirmishes have taken theiron less profitable downstream refining toll on the image of the oil andand retail businesses and the other on Sinopec and PetroChina are the two gas industry.upstream exploration. The new structure major Chinese oil and gas brands. But These companies are vital to themay reflect the evolving economics of the which is which? Only the logos can well being of many economies,industry. In a service contract arrangement tell you. With strong support from the but recently they have beenretail distribution is less necessary. Chinese government, these two brands viewed as significantly less kindBrand communication seemed less of are almost identical from a branding with an even bigger drop inan issue in fast growing markets where point of view. Differentiation generally perceived innocence.energy companies often enjoy more is difficult in oil and gas. While the rolepositive reputations. Most Brazilians, of brand in the oil & gas is growing, itfor example, regard Petrobras as a local remains less of a factor than in other Perception of oil & gashero driving the nation’s economic rise. categories. Both Sinopec and PetroChina companiesThe Petrobras brand value declined as are highly trusted, very wise and (100 = average)Brazil’s economy faltered, however. The extremely desirable. The pink ribbonsgovernment of Brazil owns a majority signify trustworthiness. The result is that 105stake in the publicly traded company. both brands are classified as Good Value.Similarly, the Russian public appreciatesGazprom and Lukoil as major contributors Brand Toys: Petrobras, 103to national wealth and job creation. Shell & BP ND KIN KIND KI DBut brand and brand communication Striking contrast?is increasing in importance even for 101 KIN Tstate-owned companies as they expand ENbeyond their national borders to regions N OC D INNIN IN Kwhere they are less well known. 99 INNOCE NT OCE D NRussia’s Gazprom is a strong competitor T KIN INNOin Central Europe and Lukoil operates Din countries throughout the world, 97including the US. PetroChina works in CENRussia, South America, the Middle East Tand Southeast Asia. Petrobras, the Brazilian national oil and 95 gas brand, looks similar to the major 2007 2008 2009 2010 2011 Chinese brands. It’s trustworthy. The happy badge notes that the brand is Source: BrandZ™ data friendly. Its slightly elongated head indicates greater perceived functionality than the Chinese brands. In contrast to the Chinese and Brazilian brands, which are state owned or state controlled, the Shell and BP Brand Toys appear to belong to a different family. Their shape indicates a high level of familiarity. The shorter stature of the BP Brand Toy and the downcast look reflect the impact on the brand following the Gulf of Mexico disaster.

Product Categories Personal Care 77 benefits related to health and wellness, a trend also evident in other categories. Trust and social media The importance of trust in the personal The emotional benefit was as much care category is one reason that North about feeling good as about making the American and European brands right impression. Some celebrity brand dominate the personal care category. The representatives communicated the more Brazilian brand Natura is an important inclusive message. When British singer exception. The brand’s claims about Cheryl Cole presented the glamour health and sustainability gain credibility of L’Oreal, the tagline was “We’re so from its association with Brazil as a nation worth it” rather than the brands usual, known for its vast rain forests and natural “Because I’m worth it.” Actor Hugh resources. Trust is especially evident inPersonal Lurie conveyed a similar point of view the global success of Colgate and Crest. for L’Oreal for men. Colgate ranks in the Top 10 in TrustR, the BrandZ™ global ranking of brands Category resistsCare private label that inspire consumers to trust and recommend them. Gillette selected the actor Adrien Brody, Peer reviews are important for building intense but not conventionally good trust in personal care. While expert looking, as one of its “Masters of Style” to testimony remains important, manySmart make the brand seem more accessible to men in general and to help make shaving personal care brands engage consumers in conversation in social media. Socialshoppers the gateway into skincare and other men’s care products, a growing opportunity for media is especially useful for the global brands because YouTube and other sitesexpected low brands like Gillette and Dove. But the cost of replacement blades reach global audiences. In marketing Nivea to variousprices, more inspired at least one website to sell low- price blades by subscription. Especially demographic segments, the brand reached young people with a social mediabenefits when people feel financially stressed, basic personal care products, like soap campaign around the singer Rihanna. Axe, the brand known for expertly using or body wash, face a similar loyalty social media to pitch men’s grooming challenge. For certain other personal care products, introduced a new scent, called products private label is less of a threat. Anarchy, with a version for men andPersonal care remained another for women. Women consider face care a high priority,a consumer priority. for example, and usually remain loyalEven as they made fewer shopping trips to a preferred brand, such as Olay. In Brands faced ups andand eliminated frivolous purchases, feminine hygiene, women might switch downs in BRICsconsumers bought personal care items, national brands but are less likely to Developing markets remained critical tosometimes as affordable luxuries— select a private label. For other products, the growth of personal care brands. Estéelipsticks and moisturizers—but also like body care, financially pressed Lauder experienced strong growth inbecause looking good in some ways consumers are more likely to do without China. Recognized as a leading prestigebecame even more important during the product than switch to private label. brand, Estée Lauder is developingtrying economic times. facilities to make China what it describesConsumers tried to spend less, adoptingsmart shopping strategies, researchingmore online and sometimes switchingto private label when the functional oremotional benefits didn’t seem worth abrand’s premium. Consumers also selectedmore do-it-yourself options that promisedsalon-quality results for at-home prices.At the same time, consumers expectedmultiple benefits. In hair treatment, they The emotional benefit was as much about feelingselected products that not only beautified good as about making the right impression. Somehair but also helped compensate fordamage inflicted by straightening or celebrity brand representatives communicated theother processes. Increasingly, functional more inclusive message.

BrandZ™ Top 100 Most Valuable78 Global Brands 2012 Movers and shakers Brand Value Brand Brand Brand Value $M Contribution Momentum Change1 Gillette 19,055 5 7 -4%2 Colgate 14,948 4 7 5%3 L’Oréal 13,773 4 5 -12%4 Dove 4,696 3 6 23%5 NIVEA 4,642 3 4 -9%6 Garnier 4,441 3 4 -5%7 Lancôme 4,154 4 4 -10%8 Clinique 3,418 4 7 43%9 Crest 3,379 5 7 20%10 Olay 3,377 4 5 20%11 Natura 3,307 5 7 -28%12 Estée Lauder 3,009 4 6 16%13 Avon 2,730 4 4 -53%14 Oral-B 2,501 3 6 -11%15 Shiseido 2,052 4 6 -15%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest). Personal Care Down 5%

Product Categories Personal Care 79as a second home market. The brand third-quarter results. Ultimately, revenuealso is strong in Russia and Brazil where gained only 1 percent in 2011, for bothClinique, an Estée Lauder brand, also internal reasons and difficulties inincreased its popularity. important markets, including the US, Russia and the company’s largest market,Other brands encountered problems in Brazil, where Avon experienced supplythe BRICs, however. Natura expanded SPOTLIGHT problems.its direct sales team in Brazil by morethan 14 percent to over 1.1 million Avon maintains direct sales TIME-STRESSEDagents. Sales improved both in Brazil representatives in 65 countries and PEOPLE PRACTICEand worldwide. But Natura’s stock territories and is present in 42 other locations. The company derives 60 PERSONAL CAREprice declined by 20.4 percent, roughlyfollowing the arc of the Bovespa Index. percent of its sales from fast growing Regardless of how time-stressed markets. Also hurt by a bribery scandal people felt because of their busyAvon’s results improved in the fourth in China, Avon is in the midst of a lives, personal care remainedquarter after its stock plunged on poor leadership transition. important, even during the recession. The barrier to finding time for personal care decreased most in India. Brand Toys: Clinique Insight: This change was accompanied Look at me by a sharp increase in the number Personal Indians who said that they spend Care a lot of money on toiletries and cosmetics for personal use. Brands spoke genuinely Because of my busy lifestyle, I don’t take care of myself “I would say we’ve seen a real as well as I should shift in the way brands are 2004 vs 2010/11 communicating with their target % who agree Clinique is a “Seductress.” The brand audiences now. It’s much more is seen as “sexy,” “assertive” and about transparency and having a 60 “desirable,” by those who should know, genuine conversation and we’re 53 the consumers who shop the category, as seeing that through some measured by BrandZ™ research. The 39 39 fantastic digital work that’s lipstick kiss on the Brand Toy indicates 30 coming from our brands.” desirability. This brand justifies its 53 price premium by being meaningfully Sarah Trombetta, different. Its allergy free products, 37 29 27 Director, Beauty and Wellbeing emphasized by the sales assistants’ 14 Asia, Hill + Knowlton pure white hygienic laboratory coats, personify the cleanliness and care US France GB India Brazil that the brand offers. The charisma is evident in the large eyes of the Brand Toy. Strongly recommended, the biggest growth brand of the sector stands rooted 2004 in large trustworthy feet. 2010/11 Source: Global TGI

Product Categories Retail 81 in South America, Falebella operates department stores and specialty stores, including the home improvement chain Insight: Sodimac. Retail Walmart ended a long period of declining US same-store sales comparisons, Retailers must suggesting that the brand reconnected engage shoppers with its core customers. Reversing a failed strategy to improve efficiencies and draw “I think that a lot of retailers are higher-income shoppers, Walmart added facing up to the fact that the back around 10,000 stock keeping units, world is omni-channel or multi-Retail strengthening core categories, both in channel. The point is that retailers food and general merchandise. have to realize that they need to Walmart’s entrance into South Africa, engage with shoppers whenever with the purchase of Massmart, a multi- and wherever those shoppers are brand wholesaler and retailer, pointed thinking about purchasing.Global to sub-Saharan Africa as a potential frontier of retail growth. Meanwhile, Bryan Roberts,economy and India affirmed regulations that continued Retail Insights Director, to slow the expansion of multi-brand Kantar Retail, London retailers such as Walmart and Tesco,e-commerce restricting them to operate in India as wholesalers rather than retailers.reshaped Price and quality wonretail With a brand value increase of 31 percent, Home Depot enjoyed the greatest improvement in the retail Omni-channel became category, restoring value lost during the the new buzzwordRetailers struggled housing slowdown. Improvements in And, like most retailers, the hypermarkets service and logistics that Home Depotwith two powerful made during the recession prepared also worked to become omni-channel. Omni-channel describes multi-channelforces—the economy the brand to benefit from the housing retailers present in both the virtual and market recovery.and rapidly changing real worlds with the added ability to reach Like Home Depot, other brands that customers as they move across channels,e-commerce. appreciated in brand value also combined even simultaneously shopping in theDemand in fast growing markets helped price and quality into propositions that aisle of a physical store while checkingdrives sales for many global retail brands. appealed to consumers battered by the the competition on a mobile device.But Eurozone uncertainty negatively economy. These brands included the The growth of omni-channel retailingimpacted business. And results in the US discount grocers Aldi and Lidl and the reflected the disappearance of the linearwere mixed, reflecting the bifurcation warehouse clubs Costco and Sam’s Club. path to purchase and the emergenceof the economy into some regions and IKEA also gained from the improving of a more complicated constellation ofindustries that experienced recovery and housing market and from sales in fast physical and virtual shopping locations.others that did not. growing economies, especially China. Retail entered a new phase, withImproving sales in the US, and strong Hypermarkets, such as Tesco and attempts to seamlessly integrate physicalresults in China, helped move Walmart Auchan, benefited from sales in China, stores with online e-commerce in all itsback to Number 1, ahead of Amazon, but faced a challenge in developed mobile and computer variations.as the most valuable retail brand in the markets because their large stores and In one of the more interesting omni-BrandZ™ Top 100 Most Valuable Global expansive product ranges did not convey channel efforts last year, Tesco installedBrands. Walmart has operated in China the price and convenience consumers an interactive screen in the Seoul, Korea,for 15 years and is accelerating its move sought. Carrefour, in particular, struggled. subway. Branded Home Plus, Tesco’sinto the country’s smaller interior cities, These brands focused attention on name in Korea, the installation presentedaccording to Kantar Worldpanel. opening smaller neighborhood locations. photos of products with the QR code,The first brands from a fast growing enabling customers to purchase on theeconomy, Falabella and Sodimac of spot for home delivery. The approachChile, entered the BrandZ™ ranking of reflected a “click and collect” trendretail brands. One of the largest retailers among large food retailers, which enables

BrandZ™ Top 100 Most Valuable82 Global Brands 2012 Movers and shakers Brand Value Brand Brand Brand Value $M Contribution Momentum Change1 Walmart 34,436 2 5 -8%2 Amazon 34,077 3 10 -9%3 Tesco 18,007 4 9 -18%4 The Home Depot 12,968 2 5 31%5 eBay 12,662 3 8 18%6 Target 10,506 3 4 -16%7 ALDI 9,310 2 6 1%8 IKEA 9,206 3 9 26%9 Carrefour 7,836 3 5 -43%10 Auchan 6,799 3 9 -13%11 Lowe’s 6,022 2 3 -8%12 Falabella 5,263 5 9 N/A13 Costco 5,092 2 6 12%14 Lidl 4,605 1 5 9%15 M&S 4,327 3 6 -18%16 Asda 3,881 3 5 -2%17 Kohl’s 3,380 3 4 -16%18 Sodimac 3,318 5 8 N/A19 Best Buy 3,271 3 5 -36%20 Sam’s Club 3,193 2 3 9%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest). RetailBrand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest). Down 5%

Product Categories Retail 83customers to buy online and pick up the Brands heavily invested in bricks andorder at their local store. mortar locations reexamined their strategies. Big box leaders, such theRetailers reimagined electronics retailer Best Buy, struggled to find a new and distinctive place inthe store the market. At the same time, Amazon SPOTLIGHT attempted to compensate for its lack ofThe benefits of convenience, selectionand price continued to drive the growth of physical stores by experimenting with PRICES DECLINE, delivery pick-up locations at selecte-commerce, as consumers increasingly 7-Eleven outlets. BUT SO DOES FUNused Amazon as a search engine to Retailers had it tough over the lastbegin their shopping trips. Retailers Apple emerged as a retailer especially few years and fought the seriousreimagined the role of physical stores as able to project consistent brand waves of recession bravely.places to evoke brand experience with experience both on its website and in itsa combination of assortment, service, physical stores (Please see technology As a result, for the categorydisplay and design that inspire brand category story on page 87). It ended its as a whole across the world,loyalty and purchasing—whether in- 2011 fiscal year with 357 stores averaging consumers believe that theirstore or on a computer or mobile device. $43.3 million in annual revenue. needs are being met and generally at a better price. But a lot of the fun disappeared as consumers worked to find Brand Toys: Home Depot discounts during the recession Insight: You can come home with me and retailers battled for consumer share of wallet. Retail Shoppers hunt Change 2007 to 2012 for the deal “When it comes to shopping, the hunt for the deal is becoming more of priority for consumers, not just +3% +3% coupon clippers. Couponing is no The Home Depot seems to be a Brand MEETS BETTER longer seen as an embarrassment NEED PRICE and shopping itself has become a Toy that is about to hug you. The data game. Consumers have multiple say it is a “Friend” who is eminently opportunities to receive coupons “trustworthy” and “straightforward.” and earn rewards through apps The ribbon on the Brand Toy indicates FUN like Shopkick and Foursquare.” trustworthiness. The tie denotes being straightforward. These qualities make Ann McGrath, Home Depot a hugely trusted brand that Director, Shopper 2 Buyer, delivers very good value. Its slogan “More saving. More doing.” neatly encapsulates Kinetic Worldwide, New York this bond with consumers, which dates back to the founding vision of the brand that emphasized serving customers needing help with challenging home improvement projects. The improved -6% housing market and economic climate in key markets, combined with excellent management, helped the Home Depot achieve the greatest year-on-year brand Source: BrandZ™ data valuation increase in the retail sector.

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable84 Global Brands 2012SoftDrinks targeted sugary drinks but exempted zero-calorie beverages, which will createHealth and energy drinks a price differential. The cola leaders both reacted to these concerns and continuedfizzed, but cola remained flat to aggressively market their brands. Coke celebrated market share. Red Bull and other major 125 yearsCoke talked about US energy drink companies gained in Coke celebrated its 125th anniversary volume and share, as did Gatorade.happiness. Pepsi with a global campaign organized around Although immediate economic concerns a heritage dating to 1886. It also producedemphasized may have somewhat diminished health special events that included transformingrefreshment. Both cola as a consumer priority, the issue didn’t its Atlanta headquarters skyscraper into a disappear and remained a long-term dramatically illuminated digital outdoorleaders described their strategic challenge for soft drink marketers billboard and streaming a free concert fromdrinks as sparkling rather as more consumers expect beverages that Atlanta, featuring stars of the TV show are healthy without any compromise of American Idol, which Coke sponsors.than carbonated, a word flavor. Cola’s weakened popularity, even The brand expanded its “Openthe public associated among teens and other core customers, Happiness” campaign, noted for viral also could be attributed in part to thewith obesity and widening choice of non-carbonated videos in which a Coke machine dispenses Coke as well as fun surprises,unhealthiness. alternatives including juices, performance such as flowers and balloons. Last year, drinks, tea and water with fruit flavors.These consumer concerns continued to Coke converted large red trucks intomoderate carbonated soft drink sales, The issues of health and obesity, vending machines and sent them intowhich declined 1 percent in the US, especially significant in the US and neighborhoods worldwide to “deliveraccording to Beverage Digest. Diet UK, received increased attention happiness.” The trucks became mobileCoke remained number two in market in Continental Europe (Please see outdoor ads serving free Coke andshare, ahead of Pepsi and behind Coke, Spotlight on page 86). Late in 2011, drawing appreciative crowds. Coke alsoa position it achieved in 2010. Mountain Denmark and France imposed taxes planned its advertising and social mediaDew, a Pepsi brand, was fourth in US on fatty foods. The French legislation presence for the London Olympics and

Product Categories Soft Drinks 85 Movers and shakers Soft Drinks Brand Value Brand Brand Brand Value Up 1% $M Contribution Momentum Change1 Coca-Cola 60,286 5 7 1%2 Diet Coke* 14,000 4 5 1%3 Pepsi 10,313 4 5 -1%4 Red Bull 9,984 3 6 8%5 Fanta 3,998 2 5 -8%6 Sprite 3,793 2 5 7%7 Gatorade 3,456 4 4 19%8 Mountain Dew 2,577 4 5 4%9 Diet Pepsi 2,285 3 4 -9%10 Dr Pepper 2,138 4 5 -3%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).* Includes Diet Coke, Coca-Cola Light and Coca-Cola Zero.the European Football Championship driving sales and share. It continued Pepsi promoted the low-calorie Pepsiduring the summer of 2012. the Pepsi Refresh Project in which Max brand, its competitor to Coke the brand makes financial grants to Zero, with a campaign of humorous adsPepsi recalibrated charities selected by online voting. At and $66.5 million in media spending,marketing the same time, Pepsi also reemphasized according to Kantar Media. The SnapplePepsi recalibrated its marketing. Having its connection to music, using the line, Group introduced Dr Pepper Ten, aceded the second place market share “Where There’s Pepsi, There’s Music,” low-calorie drink aimed at young men.position to Diet Coke a year earlier, Pepsi and featuring performers like Elton John In a social media campaign calledincreased investment in the Pepsi brand, and Melanie Amaro, a winner on “X FanDewmonium, Mountain Dew askedraising its 2011 total ad spending to $197.8 Factor,” a Pepsi-sponsored program. consumers to select a new diet flavor bymillion, up 33 percent from $149.1 million voting for one of two candidates.in 2010, according to Kantar Media. The Health concerns continued Both Coke and Pepsi proved relativelybrand dramatically increased its presence resistant to store brands, even in difficulton network TV for Pepsi and Diet Pepsi, economic times, because of their In the search for healthier alternatives,spending a total of $56 million in 2011, distinctive tastes, deep consumer loyalty both Coke and Pepsi attempted to developcompared with $10.2 million a year and affordability. Retailer promotions other beverages including coconut water,earlier, all dedicated to Pepsi. drove volume at the expense of margins. which is gaining popularity in NorthPepsi did not abandon its long-term America. Among Pepsi’s alternative drink And private label remained a threat forstrategy to provide healthier drink and brands are SoBe (teas and fruit juices) and the soft drink category overall with thefood options, but it balanced that mission Izze (sparkling juice). Coke’s portfolio improvement in store brand quality.against the immediate imperative of includes Honest Tea and Vitamin Water.

BrandZ™ Top 100 Most Valuable BrandZ™ Top 100 Most Valuable86 Global Brands 2012 Experience mixed recently focused almost exclusively on private label. worldwide Even with a presence in the discount Other carbonated drinks, such as Fanta and channel, cola sales are likely to stay flat Sprite, competed across the world, but facingSPOTLIGHT in North America and Europe, compared multiple national brands, their acceptance with the developing markets. As Coke varied by country. Mountain Dew, whichCOLA POPULARITY is strong in the US, and Dr Pepper, faced and Pepsi expand in all regions of the world, brand market share varies byCHANGES WITH a similar situation. These brands tend to country. Coke is strong in Brazil whileHEALTH CONCERNS appeal to a younger audience. Pepsi leads in India and the brands areConsumption of regular cola has Meanwhile, soft drink brands responded close in China, according to TGI. Manydeclined across Europe, while to changing shopping habits in the Indian cola drinkers prefer Thums Up,diet and low calorie colas have European grocery channel as consumers a spicy tasting local brand with a machoincreased in popularity. They now sought price and convenience. Like image. Coke purchased Thums Up inare more popular than regular other brand manufacturers, Coke the 1990s. Sprite also is popular in Indiacolas in Great Britain, where and Pepsi increasingly were listed by because its lime flavor appeals to localconsumption of both drinks has European discounters whose ranges until tastes.declined. The trend away fromregular cola should continuebecause of the increased focuson health and nutrition. Brand Toys: Gatorade Insight: A bit of a rebelConsumption of regular and Soft Drinksdiet colas in Western Europe Performance% penetration drinks grew 50 42 “Energy drinks and sport drinks, 39 especially, in Western Europe and the UK, in particular, are 26 27 23 24 23 driving a lot of growth in the soft drinks category. We’re seeing In an example of thinking globally but a lot of exciting new brands acting locally, Gatorade expanded its coming through, many of which international presence by developing are actually quite small or trendy new flavors for local tastes. The brand Spain France Germany or from the discounters. This is has benefitted from a repositioning GB a real big challenge to the big begun in 2010 that clarified the product manufacturers like Coca-Cola or range as a portfolio of pre-exercise, Pepsi because they’re going to during exercise and post-exercise Regular Cola have to come up with new ways options. And building on the health Diet/Low Calorie Cola to compete in that market. I think trends of today, the brand succeeded they will be able to do so, but they with a low calorie drink. BrandZ™ data will have to invest shrewdly in new identify Gatorade as “adventurous”Source: Global TGI tactics, like guerilla marketing and and “different,” as symbolized by the digital, to really get it right.” Brand Toy’s hat and glasses. The brand also is viewed as “brave.” Collectively, Thomas Walker, these personality characteristics form the archetype “Rebel.” Brand success has Account Director, TNS RI produced financial success. Strong brand (Research International), value appreciation in the 2012 BrandZ™ London ranking made Gatorade the Top Riser in the soft drinks category.

Product Categories87 Technology 87TechnologyConsumerMore scale, more sales, more scrutinySuddenly, size mattered. As the world’s second most valuable Apple sales reached retail brand, Amazon received the sameBrands once loved almost unconditionally complaints about size and dominance the cloudsas prodigy start-ups, faced the consumer often aimed at Walmart, retail’s brand With a 66 percent increase in net salesscrutiny reserved for large institutions value leader. And while consumers may to $108.2 billion during its 2011 fiscaland corporations. have agreed with the Google motto, year, Apple continued to innovate andWhile they enjoyed their smart cars, smart “don’t be evil,” they questioned how upgrade, introducing iPad 2 in Marchappliances and smart phones, consumers the company would use all the personal and iPhone 4S with Siri voice activationworried that technology brands might be information it amasses. in October, when it also launched iCloud.getting too smart and too big. Consumer Apple also added an eighth generation Within this challenging context, andconcerns about intrusiveness and privacy Mac operating system called Lion. The while struggling with regulatory issues,conflicted with their desire for more company reached $500 billion in market brands continued to innovate. Theyconnectivity, mobility and speed. value and remained Number 1 in the shifted much of their attention to cloud 2012 BrandZ™ Top 100 Most ValuableThe death of visionary Apple founder computing and to developing intuitive Global Brands, with a brand value ofSteve Jobs coincided with questions and voice interfaces. And they competed $183 billion.about the brand’s long-term growth and with each other as ecosystems attemptingthe labor standards along its supply chain. to offer the best devices, content and Distribution of the iPhone expanded inGrumbling over the cost of Facebook connectivity (Please see the Telecoms the US when Verizon became a carrieradvertising and the company’s privacy story on page 93). The brands mostly in February 2011, ending at&t’spractices preceded its IPO, scheduled generated strong financial results. exclusivity. With 172 million iPads,for early in 2012. iPhones and iPods sold during 2011,

BrandZ™ Top 100 Most Valuable88 Global Brands 2012 Movers and shakers Technology Up 2% Brand Value Brand Brand Brand Value $M Contribution Momentum Change1 Apple 182,951 4 10 19%2 IBM 115,985 4 5 15%3 Google 107,857 4 5 -3%4 Microsoft 76,651 4 8 -2%5 Facebook 33,233 3 10 74%6 SAP 25,715 3 5 -1%7 Baidu 24,326 5 10 8%8 HP 22,898 3 3 -35%9 Oracle 22,529 2 5 -16%10 Tencent/QQ 17,992 4 8 19%11 Accenture 16,118 3 5 4%12 Intel 15,633 2 5 12%13 Samsung 14,164 3 9 16%14 Cisco 13,317 2 7 -18%15 Siemens 10,676 2 3 -11%16 Sony 8,542 4 4 -10%17 Canon 6,780 2 4 -11%18 Dell 6,550 3 3 N/A19 Infosys 6,297 2 6 -23%20 BlackBerry 6,060 3 3 -75%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).

Product Categories Technology 89Brands shifted much of their attention to cloudcomputing and to developing intuitive and voice Insight:interfaces, and competed with each other as Technologyecosystems attempting to offer the best devices, Relevant brandscontent and connectivity. most successful “The temptation for brands has been to try and do too much too quickly with too little success. ButApple continued to lead in what it calls Microsoft’s Xbox 360 was the best-selling the brands that have succeededpost-PC devices. The company offered home video game console in the US have been more relevant,over 585,000 apps in its App Store. And last year. In a joint venture with Nokia different and engaging thanit operated around 360 physical stores the company developed devices to run their competitors and they haveworldwide. on the Windows platform. Microsoft succeeded in that launch after acquired Skype in October. launch throughout the year.”Google revenue increased 20 percentto $37.9 billion in 2011, primarily from Founded in 2004, Facebook had 845advertising. Still primarily a search million users at the end of 2011. Its Kevin Sugrue, Director,engine, the brand introduced Google+ in revenue for the year was up 33 percent Millward Brown, LondonJune, an attempt to compete with social to $3.7 billion, predominately gainednetworks like Facebook by organizing from advertising. With a brand valueparticipants into groups with shared appreciation of 74 percent to $33 billion, 383interests. Almost 90 million people Facebook was the fastest riser in the 2012joined by year’s end. The brand closed BrandZ™ Most Valuable Global Brands.Google Buzz, however, its attempt to Facebook prepared for an IPO that was maker RIM plummeted to $1.16 billioncompete with Twitter. expected to drive its market valuation from $3.4 billion a year earlier and the close to $100 billion, some speculated. company planned to reorganize.With Google’s acquisition of Motorola The company, which essentially is aboutMobility, the phone maker is expected In China, an important market for sharing personal information, faced risingto develop mobile devices operating on global technology brands, local brands concerns about privacy.the Android open platform that Google also thrived. Tencent, China’s largestdeveloped. The combination of device Global economy Internet portal, continued its rapid rise,and platform potentially makes Google claiming more than 700 million usersa rival ecosystem to Apple and other challenged brands for its popular instant messaging servicetechnology leaders. Although Android Samsung, the enormous Korean called QQ. Using variations of the QQenjoyed greater global market share conglomerate, increased sales 7 percent, brand name, the company also offeredthan Apple last year, according to Kantar although net income declined 15 percent, news and entertainment, search, gamingWorldpanel, Apple share was expanding in part because of intense competition and and ecommerce.faster, driven by iPhone popularity, global economic factors. The company’s China’s largest search engine, Baidu,particularly in the US. broad range of products—including TVs, prepared to venture beyond China and mobile devices, cameras, computersFacebook prepared and printers and home appliances— set up an office in Brazil. The company has a small presence in Japan. Google’sfor IPO positioned Samsung as a potential leader exit from China, in 2010, benefited in smart house connectivity. The successMicrosoft ended 2011 with sales of almost Baidu, and the company’s shares of its Galaxy series handset drove a 40$70 billion, a record for the company and appreciated by about 50 percent last percent year-on-year revenue increase ina 12 percent year-on-year increase. While year. Chinese consumers appreciated Samsung’s telecommunications division.the company continued to benefit from Baidu’s familiarity with the subtletiesits legacy PC-focused products, Windows Sony was impacted by the flooding of Chinese language and culture. In theand Office, it was poorly positioned for and nuclear crisis in Japan and by 2012 BrandZ™ ranking, Baidu receivedthe consumer shift away from PCs to the flooding in Thailand, as well as one of the highest scores for Brandmobile devices. Windows 8, scheduled by global economic and competitive Contribution, a measurement of brandfor release in 2012, is designed to sustain issues. Following a series of problems, strength exclusive of financials or anyMicrosoft’s PC dominance while better including poor consumer reception for other factors.accommodating mobile devices with a its PlayBook tablet, and a serious systemmore cloud-based approach. failure in October, profits for BlackBerry

BrandZ™ Top 100 Most Valuable90 Global Brands 2012BusinessEconomy affected B2B as brands shifted strategies combination produced in collaboration categories, in the BrandZ™ ranking. TheGlobal economic with HP. Oracle introduced the Exalytics accomplishment, especially significantrealities and rapid In-Memory Machine. for a B2B brand, highlighted the organization’s ability to remain relevant,industry changes In-memory business applications can even as technology continued to shift have great impact, particularly in highimpacted many B2B volume, lower margin businesses where from mainframes, a world IBM created, to the cloud.brands last year. profit depends on close cost control. The technology makes the data potentially IBM last year experienced a seamlessB2B customers increasingly viewed IT transparent both to employees within the CEO transition and continued itsspending as an investment in growth organization and to external audiences “Smarter Planet” strategy, demonstratingrather than an infrastructure expense. including customers. the power of artificial intelligenceThe shift mirrored a change in traditional with Watson, the robot that effectivelycorporate structure, with the CIO A large retailer with thousands of stores competed against human contestantsresponsible for strategic transformation, and a presence on its website and in answering questions on the US gamenot simply implementation. social media potentially could share with show Jeopardy. its customers immediate and accurateSpending on IT brought new challenges in-stock information about every sku The technology illustrated that artificialas B2B brands attempted to narrow the in every store and distribution center. intelligence now involves not only thegap between the relatively complex A health care provider could coordinate ability to access a database of knowledge,technology people encounter at work and patient records so that all doctors but also to make judgments based onsimplicity they enjoy on their personal and medical facilities had access to the the knowledge and to communicatedevices. As improving data integration same information. those judgments. Watson is named forbecame an important priority, an the father and son CEOs, both namedapproach called in-memory computingpotentially made access to corporate data IBM remained Thomas Watson, who led IBM for almost 60 years.stored in multiple silos as fast and easy as relevant at 100a Google search. The B2B technology brands generally Results varied looked at their businesses moreBrands introduced strategically. They offered suites of Intel enjoyed strong results, with net income up 13 percent to $12.9 billionin-memory computing products and services, and pursued on revenue of $54 billion, an increase the healthy margins in the servicesImpressed with benefits of faster and of 24 percent. Emerging markets consulting part of the business.better decision-making promised by drove growth of its core microchipin-memory computing, brand leaders Celebrating its centennial year in business, with tremendous opportunityoffered their versions. The SAP product, 2011, IBM became the second most in China because of potential PCcalled HANA, is a hardware and software valuable brand in the world across all growth. Highlighting the importanceIBM last year experienced a seamless CEOtransition and continued its “Smarter Planet”strategy, demonstrating the power of artificialintelligence with Watson, the robot that effectivelycompeted against human contestants answeringquestions on the US game show Jeopardy.

Product Categories Technology 91of data security in a world increasinglydependent on electronic data and datatransmission, the company acquired Brand Toys: Google,McAfee, the technology security Microsoft, Apple,specialist. Facebook and IBMCisco completed a restructuring, cutting SPOTLIGHT Distinctive in purposejobs and eliminating some products,such as its Flip video cameras, in order HOME PCS REVEALto focus on its core Internet switching TECHNOLOGYand routing business in anticipation of DIVIDEincreasing Internet traffic, especiallyvideo, and the emergence of potential Mobile phone penetration iscompetition. The brand marketed Cisco extremely high in both developedTelePresence, a technology that streams and fast growing markets.video images to create online meetings. In-home PC penetration, generallyHP went through a period of uncertainty an indicator of overall technicaland business reassessment, retaining a sophistication and Internetnew CEO late in the year. After reversing access, is greater in developeda decision to eliminate its PC division, economies, however.the company ultimately defined itself as Today’s technology jungle is alive with While more than 80 percent ofan IT leader devoted to infrastructure, the sounds of competing brands. And Indians have a mobile phone, forsoftware and services. Early in 2012 the in true “survival of the fittest” style, example, less than 20 percentcompany announced plans to simplify its they tend to be quite different one from of Indian homes have a PC. Inoperation and focus on its B2B business. another. As the Brand Toys show, the top contrast, both mobile and PCFor 2011, however, revenue increased five most valuable technology brands penetration in the US are aroundby only 1 percent, while net earnings are all distinctive. The more consumer 90 percent.declined significantly and the share price facing Apple, Google and Facebookfell 38 percent. are highly creative, as suggested by the paintbrush held in their hands. In PC in the home vsCelebrating its 30th year, Infosys, the Mobile phone ownership contrast, the B2B IBM wears a necktie,India-based global technology services % of population indicating straightforwardness, andcompany, with sales offices in 29 carries a compass, the symbol of “incountries, experienced a management 100 control.” Microsoft, which straddles theshift with the retirement of co-founder consumer and B2B spaces, also carriesN.R. Narayana Murthy, who became the “in control” compass, but has a body USchairman emeritus. Dell continued to type that that suggests great familiarity. 80 FR DE GBshift its business beyond devices to IT CN Both the Microsoft and IBM Brand Toysservices. Revenue grew 1 percent to wear the pink ribbon of trustworthiness. JP$62.2 billion for the fiscal year, Results RU PC in the home 60 BRwere stronger outside Dell’s US home All these brands attempt to be somethingmarket, with revenue from BRIC bigger than just a series of products.countries up 15 percent. Apple is rated the most “adventurous” and exhorts us to “Think Different.” 40 The hat and glasses repesent these characteristics. Google wears the pink trustworthy badge, reflecting its famous 20 SA injunction, “Don’t do evil.” Facebook, IN known for connecting people, is embued with playfulness and is one of the 0 friendliest brands. The happy face pin 70 80 90 100 on the Brand Toy projects friendliness, Mobile phone ownership and the eyes suggest fun. Microsoft tries to “Be What’s Next” and is seen to be very much in control. IBM, rated Source: Global TGI idealistic and also in control, stands for a brand that is creating a “Smarter Planet.”

BrandZ™ Top 100 Most Valuable92 Global Brands 2012

Product Categories Telecom Providers 93 Not all telecom growth involved maintains relationships with major film ecosystems. Mobile phone ownership studios. Verizon is 45 percent owned by continued to soar in fast growing Vodafone, which finally saw a long-term economies. Ownership in India, for investment pay off with the income example grew 26 percent just in the boost Verizon enjoyed when it became three-year period between 2008 and an iPhone carrier in 2010. 2011, according to TGI (Please see At&t also spent much of 2011 attempting Spotlight on page 95). to increase its wireless spectrum, by The mobile devices in these markets planning a merger with T-Mobile, the usually are affordable function phones Deutsche Telekom brand. The strategy that enable countries to leapfrog ultimately failed when the US Federal inadequate landline infrastructure and Communication Commission rejected theTelecom rapidly achieve high telecommunications penetration, over 80 percent in Brazil, deal, leaving at&t to explore options for “data throttling,” rationing system access based on customer value.Providers India, Russia and South Africa and over 90 percent in China, according to TGI. Competing and This year, MTN, a South African collaborating telecom, became the first brand from In a sense, the telecoms shifted Africa to appear in the BrandZ™ ranking toward ecosystems several years agoDumb pipes of the most valuable global brands. MTN operates in 21 countries across when they bundled services into “triple plays” of phone, online andjoined smart Africa and the Middle East. The telecom Airtel became the second Indian brand cable. Telecoms became brands that customers experienced every timeecosystems to appear in the ranking. they accessed content, rather than only Leaders formed once a month when they received an partnerships incomprehensible bill. The rapid growth of mobile, combined Continuing to evolve as brands requiresContent providers and with vast subscriber audiences, over 100 functioning effectively within ecosystemsdevice manufacturers million each in the case of Verizon and comprised of diverse cultures and areas of expertise, including engineering, at&t, made the telecoms attractiveconverged. partners. But the telecoms faced content creation and design. The the challenge of finding sufficient challenge is compounded for brands likeIn this stage of a long metamorphosis, capacity and forming the most productive Vodafone, which operates across manytelecoms, the so-called “dumb pipes” partnerships. country markets. Vodafone and Verizonstruggling against commoditization, last year extended their relationship toemerged as the indispensible delivery Verizon entered a joint venture with find efficiencies and to work more closelycomponent in emerging ecosystems. Time Warner Cable, an adversary with together on standardizing technologyApple catalyzed the formation of which it now will cross-sell products. and serving global business clients.ecosystems when it introduced the iPad The arrangement was part of a deal in As exemplified by the Verizonin 2010. The mobile device liberated which Time Warner along with Comcast arrangement with Time Warner,rich content from the home. And and Bright House Networks, two other business effectiveness also requirestelecoms delivered it wirelessly. Last cable companies, agreed to sell wireless sometimes competing and collaboratingyear, two transactions advanced the spectrum to Verizon. simultaneously. Orange and T-Mobileformation of ecosystems. Verizon further expanded its content collaborated in the UK, creating a newGoogle purchased Motorola Mobility offering and delivery options, early in brand called Everything Everywhere. Itand Microsoft formed a partnership 2012, when it entered a joint venture uses the combined offering of Orangewith Nokia. With Motorola, Google with Redbox, which operates DVD and T-Mobile to customize programs thatcan develop smart devices using kiosks at retail locations in the US and best serve individual customers. Thisits Android platform. Nokia willmanufacture smartphones runningMicrosoft’s Windows.Along with Apple, Google and Microsoft,Amazon also represents an ecosystem Telecoms became brands that customers(Please see Retail story on page 80). Thebrand offers content, such as movies experienced every time they accessed content,and other entertainment, as well as rather than only once a month when theyshopping on its Kindle device, whichcould provide an edge in m-commerce. received an incomprehensible bill.

BrandZ™ Top 100 Most Valuable94 Global Brands 2012 Movers and shakers Brand Value Brand Brand Brand Value $M Contribution Momentum Change1 AT&T 68,870 3 5 -1%2 Verizon 49,151 3 7 15%3 China Mobile 47,041 4 9 -18%4 Vodafone 43,033 3 6 -1%5 Deutsche Telekom 26,837 3 2 -10%6 Movistar 17,113 2 4 -37%7 NTT DoCoMo 15,981 3 6 3%8 Orange 15,351 2 3 -13%9 Airtel 11,531 3 8 N/A10 Telecom Italia 9,572 3 8 -18%Source:(including data from BrandZ™, Kantar Worldpanel, and Bloomberg)Brand Contribution measures the role brand plays in driving earnings on a scale of 1 to 5 (highest).Brand Momentum measures the prospects for future earnings on a scale of 1 to 10 (10 highest).simplified, personal approach can be In the UK, Vodafone last year endedcompelling in a category often criticized its Vodafone 360 service, an attemptfor its complexity and opaqueness. add value by offering apps, like search and mapping, along with music andA sharp rise in capital expenditure, a function that linked a user’s addressrequired to expand capacity and meet book and social network sites.data demand, will drive collaboration in Along with its Verizon investment inthe construction of 4G infrastructure. the US, Vodafone maintains more thanWhile a shared network spreads cost and 40 partnerships in over 30 countriesrisk, it also reduces the possibilities for worldwide.brand differentiation based on networkquality, which is significant as the O2, the UK brand of Spain’s Telefónica,telecoms promote the speed of 4G and created special offers connected4G LTE (Long Term Evolution). with events at the O2 Arena, theStruggling to differentiate entertainment complex it sponsors. In anticipation of the London OlympicsAnd while telecoms collaborate with and the Queen’s Diamond Jubilee, O2device manufacturers within ecosystems, planned the creation of free WiFi zonesthey continue to struggle for relative in areas of London expected to attractbrand prominence. The device generallywins, because consumers decide on their many international tourists. Telecomsphone or tablet brand before selecting In a separate development, the telecomsa carrier. explored Near Field Communications Down 7%

Product Categories Telecom Providers 95(NFC), which enable a mobile phone MTN offered its low-priced phones andto be used as a wallet for completing calling plans throughout Africa and thefinancial transactions, such as payment Middle East.at a retail checkout or texting moneytransfers. This cashless society already The Indian brand Airtel also maintainedis a reality in parts of Africa as a brand a strong African presence. In India, Airtel emphasized the strength of its network. SPOTLIGHTnamed M-Pesa. The prospect of moreactivity on mobile devices potentially Price is especially important in India, since an aggressive promotion by Docomo, the MOBILE CONTINUESbenefits telecoms, although NFCinitiatives have been limited so far. Tata-owned brand. Vodafone in India RAPID GROWTH cultivated a customer care image. Idea Mobile penetration continues toCompetition grew in fast focused on value added-services. increase in fast growing markets.growing economies Russia is experiencing a step-change Between 2008 and 2011 mobileMovistar, the Telefónica brand in Spain in mobile communications with the expanded by 26 percent in Indiaand Latin America, felt the impact introduction of bundled service offerings and 18 percent in Brazil.of Spain’s economic problems and a as the three leading brands—MTS, Cellular networks enabled someslowdown in Latin America and other MegaFon and Beeline—struggle to countries, such as India, todeveloping markets. Orange, which differentiate and grow market share. leapfrog past the need for landlinealso felt the impact of Europe’s financial These brands are squeezed between infrastructure.uncertainty, continued to focus on Africa. the state-owned Rostelecom and twoOf the 32 countries where the brand is newer, privately owned telecoms, Tele2 The majority of devices in fastpresent, 17 are in Africa. South Africa’s and Yota. growing economies are functional phones, but smart devices are expected to catch on as they become more available and household incomes continue to improve. Brand Toys: MTN & Airtel Mobile growth 2008 vs 2011 Insight: Dominating the airwaves % growth Telecoms Ecosystems +18 +5 +26 +8 +12 emerge 94 87 83 82 82 83 The biggest emerging trend in the 78 74 telecommunications space was 70 65 the development of independent With the development of mobile ecosystems, Apple being a primary communications across vast continents part of that, Amazon as well and with minimum infrastructure, MTN, the Google. These ecosystems bring first brand from Africa, and a second brand together devices, content and from India, Airtel, join the BrandZ™ distribution all in one offering to Top 100. Although many thousands of a customer. Formally, there had miles apart, the brands share some key been ecosystems without much characteristics. Both are highly trusted connectivity across these three Brazil Russia India* China* South Africa and get strong user recommendation. As areas. But this year was the first brand archetypes, Airtel is a “Friend” time that we were really seeing that and MTN a “Mother.” MTN is more and there will probably be more “kind” and “creative.” The paintbrush ecosystems in the future.” in the Brand Toy’s hand symbolizes 2008 creativity. Airtel is particularly “friendly” 2011 David Keefe, and “caring,” as suggested by the nurse’s Senior Client Director, cap. Both brands are highly trusted, as *Not the same fieldwork over the years Landor, New York the pink ribbons illustrate. The strong Source: Global TGI legs also indicate trustworthiness. Both brands gain strong user recommendation and deliver great value from the consumer perspective.

Top 100 Most Valuable Global Brands 1998 Top 100 Most Valuable Global Brands 1999 Top 100 Most Valuable Global Brands 2000 Top 100 Most Valuable Global Brands 2001 Top 100 Most Valuable Global Brands 2002 Top 100 Most Valuable Global Brands 2003 Top 100 Most Valuable Global Brands 2004 Top 100 Most Valuable Global Brands 2005 Top 100 Most Valuable Global Brands 2006 Top 100 Most Valuable Global Brands 2007 Top 100 Most Valuable Global Brands 2008BrandZ™ Top 100 Most ValuableBrandZ™ Top 100 Most Valuable Resources Top 100 Most Valuable Global Brands 2009 Top 100 Most Valuable Global Brands 2010Global Brands 2012 Top 10 0 Most Valu able Globa l Brands 2011 96

Resources Methodology 97 than the prospects for future earnings. Let’s go back to the Coca-Cola CompanyMethodology Predicting future earnings requires example. We’ve isolated the equity adding another component to our of the Coke brand from the rest of the BrandZ™ formula. This component value of the corporation and its other assesses future earnings prospects as a brands. The Brand Contribution of multiple of current earnings. We call this Coke represents a significant sourceBrand valuation is a component the Brand Multiple. of additional shareholder value that otherwise wouldn’t exist.metric that enables It’s similar to the calculation used by financial analysts to determine thebrand owners, the market value of stocks (Example: 6 Xinvestment community earnings or 12 X earnings). Information supplied by Bloomberg data helps usand others to evaluate calculate a Brand Multiple. We take theand compare brands. Branded Earnings and multiply that number by the Brand Multiple to arriveBrand valuation enables faster and better-informed decision-making because it at the future earnings potential, which The BrandZ™ we call Financial Value.helps identify where value is derived. DistinctionBrandZ™ is the only valuation that Step 3: Determining Here are three reasons why thispeels away all of the financial and othercomponent factors of brand value and Brand Contribution unique methodology makes the Top 100 BrandZ™ Most Valuablegets to the core—how much brand We now have the value of the branded Global Brands the world’s mostalone contributes. business, for example the value of Coke robust and reliable ranking of or Fanta or Sprite—as a component ofWe start with the corporation. In some brand value. the Coca-Cola Corporation. But thiscases, a corporation only owns one brand. value is still not quite the core that we 1. The BrandZ™ methodologyTherefore, all corporate earnings come are after. To arrive at Brand Value, we uses consumer-level research—from the brand (Example: Red Bull). need to peel away a few more layers, funded every year by WPP—toIn other cases, a corporation owns many such as the rational factors that influence identify how brand influencesbrands. Therefore, we need to apportion the value of the branded business, for purchase decisions. Otherthe earnings of the corporation across a example price, convenience, availability rankings rely on subjective opinionwide portfolio of brands (Example: The and distribution. or the views of an “expert” panel.Coca-Cola Company where we need toallocate earnings to Coca-Cola, Fanta, Because a brand exists in the mind of the This means that our measure ofSprite and other brands). consumer, we have to assess the brand’s Brand Contribution is the only uniqueness and its ability to stand out one that is entirely objectiveStep 1: Calculating from the crowd, generate desire and and consumer based. cultivate loyalty. We call this unique roleBranded Earnings played by brand, Brand Contribution. 2. The BrandZ™ research methodology has been in useTo make sure we apply the relevant We have the only brand valuation since 1998 and has been salesportion of Corporate Earnings to the methodology that obtains this customer validated.brand we first obtain financial information viewpoint by conducting worldwide on-from annual reports and other sources, This means that the causal going, in-depth quantitative research,such as Kantar Worldpanel. links between brand strength, online and face-to-face, building up a sales and profit have beenThen, by multiplying Corporate Earnings global picture of brand on a category-by- proven over time.by a metric called the Attribution Rate category and a country-by-country basis.we arrive at Branded Earnings. Branded Our research now covers over two million 3. BrandZ™ is the world’s mostEarnings refers to the amount of earnings consumers and more than 50,000 brands comprehensive source of brandattributed to a particular brand. If the in over 30 countries. equity knowledge and insight.Attribution Rate of a brand is 50 percent, This means it has unparalleledfor example, then half the Corporate Step 4: Calculating ability to provide aEarnings are identified as coming fromthat brand. Brand Value validated and benchmarked understanding of Brand Now we take the Financial Value and Contribution, what it is, what itStep 2: Calculating multiply it by Brand Contribution, which means, and what it represents is expressed as a percentage of FinancialFinancial Value Value. The result is Brand Value, a figure for a brand.What happened in the past or even that’s expressed in dollars. What’s thewhat’s happening today is less important significance of Brand Value?

BrandZ™ Top 100 Most Valuable98 Global Brands 2012

Resources WPP Companies 99WPP is the world’s leading communicationsservices group, providing national, multinationaland global clients with advertising; mediainvestment management; consumer insight;public relations & public affairs; branding &identity, healthcare communications, direct, digital,promotion & relationship marketing and specialistcommunications.WPP companies provide communications services to clients worldwide including344 of the Fortune Global 500; 63 of the NASDAQ 100 and 33 of the Fortune e-50.Collectively, WPP employs over 158,000 people (including associates) in 2,400 officesin 107 countries. For further information, visit www.wpp.com

BrandZ™ Top 100 Most Valuable100 Global Brands 2012WPP ContributorsAdded Value FITCH Kantar MediaAdded Value offers brand development Founded in 1972, FITCH is a global Kantar Media provides a broad rangeand marketing insight services to blue- design consultancy with 12 studios in 8 of insights to more than 20,000 of thechip companies across all industry countries. With the consumer at the heart world’s leading brands, publishers,sectors worldwide. Everything they do of everything we do, we offer 2D graphic agencies and industry bodies, helpingstarts with insight and ends with action, and 3D environmental design to create a them to navigate and succeed in ain pursuit of healthy brand growth using seamless expression of brand at all touch rapidly evolving media industry. Thesetheir global expertise to fuse brand points. FITCH has a strong expertise in include: audience research, competitivemarketing, consumer insight, innovation, retail design. intelligence, vital consumer behavior andand communications optimization to digital insights, marketing effectiveness www.fitch.comhelp solve clients’ marketing problems. and online influence.www.added-value.com www.kantarmedia.co.uk Grey Group Grey Group ranks among the world’s topBAV Consulting advertising and marketing organizations. Kantar RetailBAV Consulting helps businesses assess, The company operates in 154 cities in Kantar Retail is a world leader in retaildrive and monitor the direction of their 96 countries with 10,000 employees and insight and consulting solutions. Withbrands as strategic corporate assets. serves one-fifth of the FORTUNE 500 operations in 15 countries it providesWith use of BrandAsset Valuator (BAV) under the banner of “Grey Famously expertise to over 300 of the world’smodels and metrics, emotional aspects of Effective Since 1917.” leading manufacturers and retail-relatedbrand affinity can be linked to the harder businesses and organizations helping www.grey.comquantitative measures of finance. them achieve competitive advantage in the marketplace through unique insightsBAV Consulting has been measuringbrands since 1993 and over 45,000 brands Hill + Knowlton Strategies and winning solutions.have been evaluated on 75 metrics in Hill+Knowlton Strategies UK (H+K) www.kantarretail.comover 45 countries. is one of the leading communications consultancies in the UK and globally.www.bavconsulting.com Everyone of our 240+ people in our Kinetic Worldwide Soho Square office combines expertise, Kinetic Worldwide is the world’s largestDigit passion and sector insight with the ability planner and buyer of Out of Home media to provide strategic advice and standout and the global leader in understandingDigit is a design company that has creative to deliver outstanding results. how brands can connect with people’sspent the last fifteen years at the lifestyles and the environments theyforefront of technology. All of our work www.hillandknowlton.co.uk engage with.is underpinned by our philosophy calledSimple Human Interaction. It’s all www.kineticww.comabout making technology invisible, and JWTusing it to enable people and brands to JWT is the world’s best-knowncommunicate better. marketing communications brand. Lambie-Nairn Headquartered in New York, JWT is a Lambie-Nairn has been developingwww.digitlondon.com true global network with more than 200 brands that emotionally connect with offices in 90 countries, employing nearly audiences and deliver business successeCommera 10,000 marketing professionals. for over 30 years. Pioneers in the world of branding, we now have 9 offices acrosseCommera is a leading provider of JWT’s creative philosophy of making Europe, the Middle East and Latinglobal eCommerce trading solutions things inspired by the world enables the America and work with world renownedthat enable brand owners and retailers agency to forge deep relationships with brands including O2, BBC, FIFA,to sell efficiently and profitably across its clients. Telefónica, ITV and Hotels.com.multiple channels. With an emphasis on www.jwt.comstrategic customer focus, higher rates of www.lambie-narin.cominnovation, speed to market and reducedrisk, clients benefit fromsustainablegrowth that is ahead of market averages.www.ecommera.com

Resources Contributors 101Landor Associates Millward Brown Optimor TDILandor Associates is one of the world’s Millward Brown Optimor is the global Team Detroit, Dearborn, MI., bringsleading strategic brand consulting brand strategy and financial consultancy together five of WPP’s largest marketingand design firms. Since 1941, Landor of Millward Brown. The organization and communications agencies in onepioneered many of the research, design, helps companies maximize the financial location to provide its clients access toand consulting methods that are now returns on their brand and marketing best practices and talent. Team Detroitstandard in the branding industry. investments. Millward Brown Optimor is the 21st century equivalent of theLandor’s holistic approach to branding developed the methodology and full-service agency, acting as a portalis a balance of rigorous, business-driven performs the valuations for the BrandZ™ to provide a single point of contact andthinking and exceptional creativity. most valuable rankings, including the accountability. Global Top 100, the most comprehensivewww.landor.com www.teamdetroit.com annual ranking of brand value, and the China Top 50.Maxus www.millwardbrown.com TGIMaxus is a global media planning and Established in 1969, TGI (Target Groupbuying agency and has been named the Index) is a global network of single-sourcefastest-growing media agency network Mindshare market research surveys conductedfor the last three years (RECMA Mindshare is a global media and face-to-face or online. They provide2012). Combining the disciplines of marketing services network with 113 invaluable, comparable consumer insightscommunications planning and customer offices in 82 countries throughout North into products and services, demographics,relationship marketing with real-time America, Latin America, Europe, Middle media, attitudes and beliefs to aid clientdata analytics, Maxus focuses on building East, and Asia Pacific, each dedicated marketing and advertising decisions.more profitable relationships between to forging competitive marketing TGI is present in over 60 countries acrossconsumers and brands. advantage for businesses and their 6 continents, conducting over 800,000 brands. Mindshare is part of GroupM, interviews annually representing over 1.5www.maxusglobal.com which oversees the media investment billion consumers. management sector for WPP. www.globaltgi.comMEC www.mindshareworld.comMEC is one of the world’s leadingmedia agencies. We deliver value by The Brand Unioncreating, implementing and measuring Ogilvy & Mather The Brand Union is a global brandcommunication solutions that actively Ogilvy & Mather is one of the largest agency— a part of the WPP group— withengage people with brands, employing marketing communications companies in over 35 years of experience. We partneralmost 5,000 people in more than 150 the world, providing a range of marketing with our clients to discover strategicoffices across 84 countries. services including: advertising; public insights which lead to effective creative relations and public affairs; branding and solutions that help brands innovatewww.mecglobal.com identity; shopper and retail marketing; and grow. and healthcare communications. Ogilvy www.thebrandunion.comMillward Brown & Mather services Fortune Global 500 companies as well as local businessesMillward Brown is one of the world’sleading research agencies and is expert through its network of more than 450 The Forward Group offices in 120 countries.in effective advertising, marketing Forward is a strategic content marketingcommunications, media and brand www.ogilvy.com agency that creates multi-channelequity research. Through the use of an content strategies, and intelligent, fresh,integrated suite of validated research engaging content for brands such assolutions—both qualitative and Tesco, Patek Philippe, Standard Life,quantitative—Millward Brown helps Fabric and B&Q.clients build strong brands and services. www.theforwardgroup.comwww.millwardbrown.com

BrandZ™ Top 100 Most Valuable102 Global Brands 2012WPP ContributorsThe Futures Company VML With thanksThe Futures Company is the leading VML is a full-service, global digitalglobal foresight and futures consultancy, marketing agency with major operations Peter Walsheformed from the coming together of The on five continents. Recognized in 2012 Global BrandZ™ Director,Henley Centre, HeadlightVision and by Advertising Age as one of the top 10 Millward Brown OptimorYankelovich. Through a combination standout agencies in the U.S., VML hasof subscription foresight services and been delivering creative solutions at thecustom research and consultancy, we intersection of marketing and technology Cristiana Pearsonhelp clients unlock new sources of since its founding in 1992. BrandZ™ Valuation Team Leadergrowth and take control of their futures. www.vml.comwww.thefuturescompany.com Elspeth CheungThe Partners Brand Valuations BrandZ™ Valuation Analyst, Millward Brown OptimorThe Partners is a brand strategy,design and innovation agency that puts Bloombergoutstanding creativity into action to Karen Jones The Bloomberg Professional service isdrive business success. From our offices the source of real-time and historical BrandZ™ Project Manager,in London, New York, and Singapore we financial news and information for Millward Browndeliver award-winning creative ideas for central banks, investment institutions,businesses including Samsung, Deloitte, commercial banks, government officesVodafone, eBay and the BBC. and agencies, law firms, corporations and Our Brand Toyswww.the-partners.com news organizations in over 150 countries. www.brandtoys.com www.bloomberg.comTNS Writing and PhotographyTNS advises clients on specific growth BrandZ™strategies around new market entry, BrandZ™ is the world’s largest brand Ken Scheptinnovation, brand switching and equity database. Created in 1998 andstakeholder management, based on long- Professional Journalist continually updated, BrandZ™ is anestablished expertise and market-leading invaluable resource, containing data Ken Schept is a professional writersolutions. With a presence in over 80 on brands gathered from interviews specializing in articles and reports aboutcountries, TNS has more conversations with over 2 million consumers in 41 retailing and marketing. He began hiswith the world’s consumers than countries and covering more than 200 career as a reporter and editor for aanyone else. different categories. leading US publisher of retailing journalswww.tnsglobal.com and developed international publications, www.brandz.com research, conferences and retail study tours before starting his own business.Visible Technologies Kantar WorldpanelVisible is the leader in social media Kantar Worldpanel is the world leader in Cecile Østergrenmonitoring, analytics, and services for consumer knowledge and insights basedenterprises globally. Visible’s award- Professional Photojournalist on continuous consumer panels. Itswinning technology and expertise High Definition Inspiration™ approach Cecilie Østergren is a professionalhelps businesses analyze social media combines market monitoring, advanced photojournalist whose extensive travelsconversations to better understand analytics and tailored market research in China resulted in two in-depth photoconsumer preferences, market dynamics, solutions to deliver both the big picture series, one on Mongolian Coalminerscompetitive strengths and weaknesses, and the fine detail that inspire successful and one on the roots of Kung Fu. Sheand other information critical to a actions by its clients. has collaborated with Danish bookcompany’s reputation and brands. publisher Politikens Forlag on three www.kantarworldpanel.comwww.visibletechnologies.com occasions, producing travel books across India, Greece and Denmark, her native country.

Resources BrandZ™ Apps 103Powered by BrandZ™ Commissioned by WPP with research To learn more about BrandZ™ data orWPP offers an conducted by Millward Brown, studies please visit www.brandz.com orever-expanding library BrandZ™ is the world’s largest brand contact any WPP group company or: analytics and equity database. Created inof in-depth but practical 1998 and continually updated, BrandZ™studies to help grow is an invaluable resource, containing Peter Walshe, Global BrandZ™ Director +44 (0) 1926 826 213 data gathered from more than 2 millionbrand strength and interviews about over 7,000 brands in peter.walshe@millwardbrown.comvalue in today’s rapidly 40-plus countries. BrandZ™ informs Cristiana Pearson marketing decisions with salient metricschanging global and analytics available exclusively to cristiana.pearson@millwardbrown.commarketplace. WPP clients through their WPP agencies. Valuations & Analysis by Methodology byBrandZ™ Top 50 Most BrandZ™ Top 50 Most BrandZ™ on theValuable Latin American Valuable ChineseBrands 2012 Brands 2012 move – Free AppsThis inaugural report examines brand The report profiles Chinese brands Get the BrandZ™ Topdevelopments and opportunities and includes commentary on thein some of the world’s fastest growing influence of Chinese brands 100 Most Valuable Globalgrowing economies. at home and abroad. Brands, China Top 50, and(Release date: June 22, 2012) Latina America data, brand news and a lot more on your smart phone. 1 BRANDZ VALUE-D 1 BRANDZ TRUSTR Trust-R Value-D ENGAGING CONSUMERS BALANCING DESIRE IN THE POST- AND PRICE FOR N ATIO RECESSION WORLD BRAND SUCCESS T END US To download the apps go to UK – February 2011 TR M UK OM REC DESIRE $€ ¥ £ PRICE www.brandz.com/mobile (for iPhone and Android). Powered by Powered by The iPad interactiveBeyond Trust: Engaging ValueD: Balancing magazine BrandZ™ TopConsumers in the Post- Desire and Price for 100 packed with exclusiveRecession World Brand Success content is available from the Apple App store (search forTrustR is a new metric for ValueD is a critical tool for findingunderstanding and strengthening the the most productive balance BrandZ100).bond between consumer and brand. between Desire and Price.

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