Lead the Top Ten
-- Study focuses on brand relevance, which has been shown to unlock business revenue and company growth
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(SHANGHAI, Nov. 2, 2016 PRNewswire=연합뉴스) Global consultancy Prophet today unveiled its first China Brand Relevance IndexTM at a press briefing held at Shanghai New York University (NYU Shanghai), located in Pudong New District.
The China Brand Relevance Index measures brands against four dimensions that have been proven to define brand relevance: customer obsession, ruthless pragmatism, pervasive innovation, and distinctive inspiration. Using these four dimensions, Prophet conducted a survey of nearly 10,000 Chinese consumers about 275+ Chinese and global brands across 24 industries.
Top 10 Most Relevant Brands in China
Prophet found the most relevant brands to Chinese consumers are:
1. Alipay
2. WeChat
3. Visa
4. Marriott
5. Uber
6. Ford
7. Adidas
8. Tmall
9. Volkswagen
10. Ikea
The thinking behind Prophet's methodology is based on the theories of Professor David Aaker, Vice Chairman of Prophet and author of Brand Relevance: Making Competitors Irrelevant.
"Today's brand world is evolving at a faster pace than ever before," said Jay Milliken, Senior Partner at Prophet. "Consumer preferences change in an instant. User feedback is instantaneous. New competitors enter the fray every day. And there are continually new ways to engage and provide value to customers. In this era of infinite expectation and persistent change, absolutely nothing is more critical for a brand than to be, and to remain, relevant.
"In the China Brand Relevance Index, three Chinese digital platforms dominated the Top Ten brands list: Alipay and Wechat at numbers one and two, respectively, and Tmall at number eight," said Milliken. "Of the 50 brands in the Index, 18 were Chinese, demonstrating that Chinese consumers find relevance in both global and homegrown brands."
The complete China Brand Relevance Index report and the Top 50 brands favored by Chinese consumers can be found here: www.prophet.com/relevantbrands/.
The Brand Relevance Index's four dimensions of brand relevance are made up of 16 attributes, which measure important brand characteristics like "meets an important need in my life" or "makes my life easier." The data shows that customer experience is critical to achieving relevance. All the brands in the top 50 have "delivers a consistent experience" as one of their top five attributes.
At today's briefing Mr. Milliken announced that Prophet will introduce a new China Brand Relevance Index report once a year going forward.
Key Findings
The results of Prophet's first China Brand Relevance Index revealed several interesting trends, including:
- Alipay and WeChat dominate -- not only were Alipay (#1) and WeChat (#2) the top two brands in the Index, but they dominated all the other brands in the survey across nearly every element of the Index
- Mix of Chinese and Global brands -- the Top 50 Relevant Brands in China include 18 Chinese brands and 32 Global brands. Chinese brands deliver more strongly against the key relevance pillar of Ruthlessly Pragmatic while Global brands deliver more strongly against Distinctively Inspired
- Five themes emerged -- analysis of the full Brand Relevance Index highlighted five important themes for China:
* (Re)Invent - constantly challenge category norms
* Localize - tailor offer and experience to local culture and traditions
* Simplify - make consumers' lives easier
* Focus - be targeted and precise in building your brand
* Elevate - help consumers aspire for more
- Some interesting surprises -- the results of the China Brand Relevance Index held some interesting surprises such as the presence of Uber in the Top 50 (#5) and the absence of Didi Chuxing, Vivo (#18) leading all smartphone brands (Huawei #23, Apple #27, Samsung #45), and Visa (#3) being higher rated than UnionPay (#13).
To learn how Prophet can help your brand become more relevant to consumers, contact BRI@prophet.com.
About Prophet
Prophet is a global growth consultancy that specializes in brand and marketing - fusing insights, strategy, creativity and imagination to help clients grow better brands and businesses. We uncover deeper customer insights, build stronger brand relevance and deliver engaging customer experiences for some of the world's most successful companies such as AIA, HTC, Genting Group, Marriott, Cathay Pacific, BEA, MediaTek, Emart, Electrolux, T-Mobile, UBS, Cisco and ThyssenKrupp AG. Our 350+ experts in marketing, innovation, digital and design help companies bridge the gap between strategy and execution to drive real market impact. Prophet.com.
For more information, please contact:
UTOP Public Relations - China
Wei Jia
Mob: +86-185-10692762
Tel: +86-10-6771-8828-8080
jia.wei@utoppr.com
Hamilton Advisors Limited - Hong Kong
Vicki Chan
Mob: +852-6571-2401
Dir: +852-2487-8086
vchan@hamiltonadvisorsltd.com
Robert T. Grieves
Mob: +852-9305-1810
Dir: +852-2487-8070
rgrieves@hamiltonadvisorsltd.com
Source: Prophet
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