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1、Brand Finance Global Most Valuable B2B Brands Index 1Global Most Valuable B2B Brands Index2023Reporting the value of the top 100 B2B brandsMay 2023Brand Finance Global Most Valuable B2B Brands Index 2Contents.2023 All rights reserved.Brand Finance Plc.About Brand Finance3Foreword6 David Haigh,Chairm
2、an&CEO,Brand FinanceExecutive Summary7Brand Value&Brand Strength Analysis8Ranking Analysis 13Sector Analysis 17Country Analysis 23Brand Value Ranking24Articles26IT services brands are becoming key drivers of business value 26 Lorenzo Coruzzi,Associate Director,Brand FinanceFamously Demanding B2B Bra
3、nds29 Tom Stein,Chairman and Chief Brand Officer,Stein IAS Director,North America,IAASustainability30 Robert Haigh,Strategy&Sustainability Director,Brand FinanceInsights31Bigger Brand Ideas:The Wind in B2Bs Sails Paul Coxhill,CEO,WARCTATA-Leadership with Trust34 Harish Bhat,Brand Custodian,Tata Sons
4、B2B Brand Value Starts with the Customer35 Alice Cherry,Chief Marketing Officer,S&P GlobalMethodology36 B2B Brand Valuation Methodology41References42Our Services4332 Brand Finance Global Most Valuable B2B Brands Index 3About Brand Finance.Brand Finance is the worlds leading brand valuation consultan
5、cy.We bridge the gap between marketing and financeBrand Finance was set up in 1996 with the aim of bridging the gap between marketing and finance.For more than 25 years,we have helped companies and organisations of all types to connect their brands to the bottom line.We quantify the financial value
6、of brandsWe put thousands of the worlds biggest brands to the test every year.Ranking brands across all sectors and countries,we publish over 100 reports annually.We offer a unique combination of expertiseOur teams have experience across a wide range of disciplines from marketing and market research
7、,to brand strategy and visual identity,to tax and accounting.We pride ourselves on technical credibilityBrand Finance is a chartered accountancy firm regulated by the Institute of Chartered Accountants in England and Wales,and the first brand valuation consultancy to join the International Valuation
8、 Standards Council.Our experts helped craft the internationally recognised standards on Brand Valuation ISO 10668 and Brand Evaluation ISO 20671.Our methodology has been certified by global independent auditors Austrian Standards as compliant with both,and received the official approval of the Marke
9、ting Accountability Standards Board.Get in T business enquiries,please contact:Richard HaighManaging DFor all other enquiries:+44 207 389 For media enquiries,please contact:Michael JosemAssociate Communications DBrand Finance InstituteBrand Finance Institute is the educational division of Brand Fina
10、nce,whose purpose is to create and foster a professional environment for knowledge-sharing and networking among practitioners and experts in the market.BFI organises events,in-company training,and corporate educational initiatives around the world.In the quest for marketing excellence and with the p
11、urpose to equip the brand valuation and strategy practitioners with the necessary skills and tools,we have developed a wide range of programmes and certifications in collaboration with the most coveted business schools,universities and thought leaders in the field.Brand Finance is the worlds largest
12、 database of current and historical brand values,providing easy access to all Brand Finance rankings,reports,whitepapers,and consumer research published since 2007.+Browse thousands of published brand values+Track brand value,strength,and rating acrosspublications and over time+Use interactive chart
13、s to compare brand valuesacross countries,sectors,and global rankings+Purchase and instantly unlock premium data,complete brand rankings,and researchVisit to find out more.Brand Finance Group.Brand DialogueBrand Dialogue is a public relations agency developing communications strategies to create dia
14、logue that drives brand value.Brand Dialogue has over 25 years of experience in delivering campaigns driven by research,measurement,and strategic thinking for a variety of clients,with a strong background in geographic branding,including supporting nation brands and brands with a geographical indica
15、tion(GI).Brand Dialogue manages communications activities across Brand Finance Groups companies and network.VI360VI360 is a brand identity management consultancy working for clients of all sizes on brand compliance,brand transition,and brand identity management.VI360 provide straightforward and prac
16、tical brand management that results in tangible benefits for your business.BBrand Finance Global Most Valuable B2B Brands Index 5Global BrandEquity MonitorOriginal market research on over 5,000 brands 38 countries and 31 sectors coveredMore than 150,000 respondents surveyed annuallyWe are now in our
17、 7th consecutive year conducting the studyVisit or email enquiriesbrandfi David Haigh Chairman&CEO,Brand FinanceBrand Finance Global Most Valuable B2B Brands Index 6Foreword.Our Inaugural B2B Brand Index report celebrates a Golden Age for B2B brands,in which status and value are amplified by signifi
18、cant changes in market and competitive dynamics,the rising role of brand as a driver of growth,and the most expansive role of brand internally within organizations as well as externally to all constituencies.This era is characterised by the potency and agility of omni-channel,data-led,intelligent ma
19、rketing campaigns in the B2B market,as well as the ambition of many B2B brands to leverage creativity as a strategic asset that leads their businesses into the future.Underpinning all of this is the strength,resilience and growth potential of all B2B sectors,which was particularly manifest during th
20、e pandemicand now post-pandemic.Of note,digitalization and digital scale-ups are dominating the landscape,taking advantage of the ever-expanding possibilities of technology,and driving better customer experiences.These experiences are forcing rapid adoption of across categories.Best practices are tr
21、aveling fast and enhancing value.Our comprehensive brand valuation process not only helps companies understand their brands worth,but also serves as a crucial tool for decision-making in marketing,branding,and investment strategies.A powerful brand identity,pervasive brand presence and mental availa
22、bility,and cut-above brand experiences leads to an array of business benefits,including improved differentiation from competitors,increased demand,increased customer loyalty,and ultimately,greater pipeline performance,higher sales and revenue.In the current market,strong brands can also command prem
23、ium pricing,as customers perceive them as trustworthy and high-quality.Additionally,these brands attract top talent,adding to their long-term success and resilience against economic fluctuations and industry disruptions.With extensive research and analysis of customer perceptions across numerous glo
24、bal jurisdictions,this years report offers valuable insights for companies looking to bolster their brands impact and their overall valuation.The findings presented here serve as a catalyst for meaningful discussions and strategic decision-making.Should you wish to elevate your brand or gain a deepe
25、r understanding of its value,our Brand Finance team is eager to engage in conversation and help pave the way for a more prosperous future for your brand.Brand Finance Global Most Valuable B2B Brands Index 7New analysis finds almost USD 1 trillion of brand and business value remains untapped by the w
26、orlds top B2B brands.+Brand value of top 100 B2B brands pegged atUSD2 trillion+Microsoft has the worlds highest B2B brandvalue at USD137.5 billion+Deloitte is the strongest B2B brand with eliteAAA+rating,fellow Commercial Servicesbrands also perform well+Chinese brands perform strongly,making up23%o
27、f the top-100 ranking+B2B2C brands forge new path with newbusiness modelBrand Finance Global Most Valuable B2B Brands Index 8Executive Summary.B2B businesses have always been a vital part of the worlds economies and marketing ecosystems,but have been recognised in recent years for their vital role d
28、riven in part by the retrenchment of globalisation,fractious geopolitics,and the pandemic.The dramatic challenges and changes that the pandemic created in economies across the globe has played a role in both increasing the need for B2B products and services,and highlighting their essentialness to so
29、cieties and economies.Reliance on B2B services such as healthcare,technology,and supply-chain and logistics surged during the pandemic.There was also a dramatic change to B2B go-to-market strategies,with brands placing a heavier emphasis on digitally led offerings.B2B brands hold an even more vital
30、position to global economies than they previously did.An analysis of the top 100 Global brands(both B2B and B2C)as of January 2023 is particularly illustrative.A significant proportion of the value(41%)is driven by the B2B segment.Proportion of Value driven by B2B vs B2C amongst the Top 100 of the G
31、lobal 500 Most Valuable Brands 2023 Brand Finance Plc 2023B2CRetailAutomobilesConglomeratesRestaurantsInternet&SoftwareSoft DrinksTobaccoInsuranceSpiritsCommercial ServicesEngineering&ConstructionApparelElectronicsTelecomsBankingB2B BankingEngineering&ConstructionInsuranceUtilitiesTelcomsElectronics
32、LogisticsInternet&SoftwareOil&GasFoodCar RentalLogisticsHealthcare ServicesIT ServicesConglomeratesRetailCommercial ServicesOil&GasSemiconductorsAutomobilesB2C B2BBrand Finance Global Most Valuable B2B Brands Index 9Opportunity for B2B brand value growthWhile the traditional approaches to marketing
33、to both audiences were treated as quite distinct,the two approaches are converging on several fronts.They both focus on selling and they both do it by focusing on the customers needs.The convergence between B2B and B2C marketing is still in its early stages as our analysis points out;B2C marketing i
34、s now increasingly concerned with conversion rates and leads as a way of measuring the success of marketing campaigns while B2B is increasingly focusing on buyer personas,emotional messaging,and branding to better connect with their audience.B2B brands lag B2C brands in terms of brand contribution t
35、o business value highlighting an opportunity for brand led growth in business value.The top 100 B2B brands account for$2 trillion in brand value accounting for 12%of the$17 trillion in business value while this ratio is 17%for B2C brands($2.8trilion brand value/$16 trillion business value).Closing t
36、his gap is worth an additional$0.9 trillion in brand value.While not entirely surprising,it highlights the potential for B2B brands to drive additional value to the business by closing the gap to their B2C peers.Brand Finances research of the returns of highly branded organisations(panies with a hig
37、h brand value to business value ratio)outperform the S&P 500 indicating significant value to be unlocked for B2B businesses.Executive Summary.The Top 100 B2B brandsThe ranking was compiled by identifying the B2B specific businesses and business lines of brands that were published in the Global 500 r
38、anking report in January 2023.Some of the key highlights:1.The Top 100 B2B brands account for$2trillion intotal brand value.2.A number of brands while not being consideredprimarily B2B feature in the top 100 such asAmazon(ranked 2nd;24%of value is B2B)andSamsung(ranked 10th;36%of value is B2B).3.The
39、 United States and China account for 64 of the100 brands reflecting the scale of these marketsand their companies.4.A third of the top-100 brands are pure-play B2Bbrands(32 brands out of 100),while the remainingbrands have some proportion of their total brandvalue attributed to B2C.5.Brand Finances
40、research highlights that theB2B sector is dominated by Financial Services,Technology,Healthcare,Professional Servicesand Energy brands.Brand Finance Plc 2023BV/EV20%16%12%8%4%0%Primarily B2B12%17%Primarily B2CBrand Finance Global Most Valuable B2B Brands Index 101.B2B brands need to continue to shif
41、t from sales/relationship building to brand building.This hasbeen one of the key trends since the pandemic.Italso is a shift driven by changing buyer behaviors,with 90%of buyers now choosing brands theyalready have in mind at the beginning of the salesprocess.To be part of the consideration sets,B2B
42、brands need to be mentally available.Strong B2B brands(and businesses)also arebuilt on a balance of broad reach and activationcampaigns,together with short-term,demand-focused campaigns.B2B marketers are shifting thisbalance towards the broader targeted approachesto cultivate demand not just among i
43、n-marketbuyers,but also buyers not currently in market.The clever use of digitally enhanced omni-channelmarketing has helped drive both efficiency andeffectiveness of campaigns.2.B2B brands need to be able to communicate withmultiple stakeholders around multiple agendasto support business growth.A g
44、ood exampleis the IT services sector which was one of thebeneficiaries of the pandemic.Executive Summary.Strongly Branded Organisations outperform the market(USD Value of$1 invested)Brand Finance Plc 20239876543210Base2009200001920202021Oct-22Top 10 BV/EV(Brand Value
45、 share of Enterprise Value)S&P 500 Top 10 BSISource:Brand Finance AnalysisHow B2B brands can capture this opportunity to grow brand value and its contribution to business valueTransformation is a consistent theme across B2B brands.This is being driven by market opportunities,acquisitions and spin-of
46、fs,and the drive for differentiation and distinction on the path to growth.For example,the IT-services industry has gone through multiple brand shifts over the last few years.In the past quarter,Atos launched a new brand ahead of a carve out;the brand will be focussed on the faster growth profession
47、al services business much like the IBM and Kyndryl split in 2021.GE,which ranked 42nd with a brand value of USD19 billion in this study is splitting into three distinct,publicly traded entities this year.While the main thrust behind these moves is to extract shareholder value it creates an opportuni
48、ty for brands to drive for distinctiveness to create brand strength amongst the wide set of stakeholders that B2B brands must influence.Other transformative dynamics leading to the creation of greater brand value include:Brand Finance Global Most Valuable B2B Brands Index 11Our research shows how th
49、e most successful brands have leveraged their brands for business growth by orchestrating multiple agendas.Brand building campaigns supported bymultichannel investment including sponsorshipsBuilding deeper(and broader)connection withexecutives(and the board);Improving value articulation(humanisingbr
50、ands):striking the balance between functionaland emotional attributes;Improving global positioning by maintaining aconsistent positioning around the world(leavingroom for adaption to local market conditions);Emphasizing employer branding and EmployeeValue Proposition to support the DEI agenda andcom
51、pete for top talent;Focusing on sustainability is becoming asimportant a driver of equity in B2B as in B2C.(See page 30).Executive Summary.3.Many B2B brands are leaning into broaderbrand campaigns:Salesforce is one example of B2B brands growingby reach.Salesforce has shown impressive growthin the pa
52、st 20 years by applying the advertisingtheory known as the Advertising IntensivenessCurve,which shows that larger shares of voiceare associated with larger shares of market.From 2015-2021,Salesforce invested 45%of itsrevenue on sales and marketing,which allowedthem to consistently take market share
53、from itsdirect competitor,SAP,who spent around 25%ofrevenues on sales and marketing.Consequently,during this timeframe,Salesforcesrevenue grew 4x compared to SAPs 1.4x.Thelesson learned from Salesforce is that advertisinginvestment and broad reach communications thatincrease share of voice help grow
54、 the business.This is the case in in B2B as has been in B2C.Case Adapted from:Salinas,Gabriela,IE university,IE Insights.(March 17,2023).The Strength of a B2B Is in Its Brand.SAP vs Saleforce revenues and marketing expenses(2015-21)Brand Finance Plc 20232000353025206
55、420Saleforce Revenue($B)SAP Revenue($B)-SAP Marketing and Sales Expense($B)-Salesforce Marketing and Sales Expense($B)2015Adapted from:Salinas,Gabriela,IE university,IE Insights.(March 17,2023).The Strength of a B2B Is in Its Brand.Brand Finance Global Most Valuable B2B Brands Index 124.Emotional ca
56、mpaigns outperform rational ones:A number of studies show that creativeeffectiveness is an important brand value driverby leading to positive shifts in perceptions andbehaviours.As one example,data from the IPAshows how emotional campaigns outperformrational campaigns in B2B.Another example of this
57、is highlighted in the studydone by the B2B Institute on the B2B EffectivenessCode,where they found that B2B campaigneffectiveness increases as creative commitmentincreases.This means that B2B campaigns become moreeffective as they spend more,run for longerdurations and spread across more media chann
58、els.SAP vs Saleforce revenues and marketing expenses(2015-21)Brand Finance Plc 2023403530252001920202021ESOV SAP SOM SF ESOV SalesforceExecutive Summary.Average number of very large business effects Brand Finance Plc 20231.61.41.21.00.80.60.40.20.0Emotional1.40.20Adapted from:S
59、alinas,Gabriela,IE university,IE Insights.(March 17,2023).The Strength of a B2B Is in Its Brand.RationalSource:IPA Databank 1998 2019 B2B casesRanking Analysis.Brand Finance Global Most Valuable B2B Brands Index 14Ranking Analysis.Microsoft has the worlds highest B2B brand value at USD137.5 billion
60、Tech giant Microsoft has the highest business-to-business brand value of any brand globally,equating to USD137.5 billion,72%of Microsofts total brand value,and 10%of its enterprise value.Microsoft dominates the B2B 100 2023 ranking with a B2B brand value almost double that of the next highest ranked
61、 brand,which is Amazon.Microsofts B2B services include cloud computing,productivity and collaboration tools,and enterprise software.It also covers specialised solutions for industries such as healthcare,finance,and retail.Microsofts widespread brand recognition and strong reputation for reliability
62、is particularly important in the B2B market,where businesses rely on vendors and partners,such as Microsoft,to deliver critical services and solutions.We are living in the Golden Age for B2B brands,where status and value are amplified by technology and scientific breakthroughs.This era is characteri
63、sed by the potency and agility of omni-channel,data-led,marketing campaigns in driving rapid growth in the B2B market.Digitalisation and digital scale-ups are dominating the landscape,taking advantage of the ever-expanding possibilities of technology,and driving better customer experiences.These exp
64、eriences are forcing rapid adoption of updated technology across categories.Best practices are traveling fast and enhancing value.David HaighChairman of Brand FinanceBrand Finance Global Most Valuable B2B Brands Index 15Ranking Analysis.By instilling confidence in partners,Microsoft can successfully
65、 attract new customers,retain existing ones,and build long-term relationships with business partners.This is becoming particularly important as the B2B market grows increasingly congested.Amazon has the second largest B2B brand value at USD70.6 billion,despite only 24%of its overall brand value bein
66、g attributed to B2B services.Amazon is the most valuable brand in the world in 2023,with an overall brand value of USD299.3 billion.This means that even though its B2B segment is comparatively smaller(in terms of percentage of overall brand value)than many of the brands included in the B2B 100 2023
67、ranking,its B2B value is still a significant value.Amazons B2B services include Amazon Business,Amazon Advertising,Fulfillment by Amazon(FBA),Amazon Payments,Amazon Connect,and Amazon Web Services(AWS).AWS is Amazons cloud computing arm and the largest of its kind globally.It provides businesses wit
68、h a range of services,including computing power,storage,and databases.Amazon is likely to push for growth in its B2B subsidiaries in the coming years as it looks to further infiltrate the B2B market,increasing its market share and already huge brand value.As well as providing an insightful overview
69、of the worlds top B2B brands,this report provides robust evidence to demonstrate the enormous potential that exists in B2B marketing.This is a dynamically growing sector,and were thrilled that B2B has rightfully earned its place in the spotlight,gaining momentum as a creative,emotional,and brand-led
70、 channel.We are delighted to be able to share these new,important findings with our members.Kirsty GiordaniExecutive Director at IAA UKTop 10 Most Valuable Global B2B Brands 6 USD39.9 bn 7 USD39.6 bn 8 USD37.2 bn 9 USD37.1 bn 10 USD35.6 bn USD137.5 bn 3 USD58.8 bn 4 USD45.2 bn 5 USD42.7 bn 2 USD70.6
71、 bn Brand Finance Plc 20231Brand Finance Global Most Valuable B2B Brands Index 16Executive Summary.Top 10 Strongest Global B2B Brands Brand Finance Plc 2023 687.8 786.9 886.8 986.4 1086.3 191.3 389.4 488.8 588.2 289.9Deloitte is the strongest B2B brand,one of only two brands in the ranking to earn e
72、lite AAA+ratingU.S.based brand Deloitte is the strongest B2B brand with a Brand Strength Index(BSI)score of 91.3/100,a 1.1-point year-on-year increase.This earns it a AAA+brand rating,one of only two brands to achieve this elite rating in Brand Finances Global B2B brands Index.Deloitte also has the
73、tenth largest B2B brand value at USD34.5 billion and is also the worlds most valuable Commercial Services brand in terms of overall brand value.While some large enterprises reduced their workforces in 2022,particularly in tech related sectors,Deloitte matched its impressive financial performance wit
74、h a rapid expansion of its workforce.Its total headcount climbed to 415,000 from less than 350,000 in the previous year.This expansion,and Deloittes dominance in many different Commercial Services sub-sectors,has enabled the brand to sustain a high level of brand equity amongst stakeholders.Fellow C
75、ommercial Services brand EY(B2B brand value of USD25.7 billion)is the second strongest brand in the ranking,with a BSI of 89.9/100,and AAA+rating.PWC(B2B brand value of USD25.3 billion),rounds off a trio of Big-4 firms included at the top of the ranking for brand strength with a score of 88.8/100,AA
76、A rating.Chinese brands also performed well for brand strength.Utilities giant State Grid(B2B brand value of USD58.9 billion)is the seventh strongest brand in the ranking with a BSI of 86.9 out of 100,and AAA rating.It is followed by Bank of China(86.8/100),ICBC(86.4/100),and China Construction Bank
77、(86.3/100),all of whom made the top-ten ranking for brand strength with AAA brand ratings.These single market brands all perform very strongly in terms of brand strength in their home markets,in which they have a large market share and high levels of familiarity.This makes a significant contribution
78、 to their overall Brand Strength Index scores and partly explains their positions in the top-ten.B2B2C brands forge new path with new business model Brand Finance Global Most Valuable B2B Brands Index 17Ranking Analysis.B2B2C is a very significant part of the B2B brand ecosystem and this Index.There
79、 are very few B2C counterparts,as in B2C2B.B2B2C is a business model/marketing strategy where one business(for example,a manufacturer)sells goods or services to another business(for example,a retailer or distributor)to reach an end consumer.This is slightly different from the conventional pure-play
80、B2B brands and hence why we have included them in a table of their own.We define media/platform brands that generate a significant amount of their revenue from businesses to be mainly within this category of B2B2C and have hence excluded them from our Top 100 table and categorised them separately.Am
81、azon is a classic example of this model,where it sells products made by other businesses while providing support for the entire transaction process.This enables manufacturers to expand their reach without straining their current resources and offers consumers access to a wider range of products in a
82、 single marketplace.By leveraging the partners brand recognition,a business can enter the consumer market with an edge over its competitors.Google is the worlds largest B2B2C brand,with a B2B brand value of USD281.4 billion.The brand has continued to grow and expand into new products and services ov
83、er the past year.This includes expanding its technological capabilities with its existing product offerings including Google Wallet,Google Pixel and Google Cloud by optimising these products with new artificial intelligence and virtual reality features.A number of well-known media brands,including T
84、ikTok/Douyin(B2B brand value of USD65.7 billion),Facebook(B2B brand value of USD60 billion),and WeChat(B2B brand value of USD47.4 billion)follow behind Google.Brand Finance Plc 2023B2B2C2023 RankBrandIndustryB2B Brand ValueTotal Brand Value%of total BVBSI1GoogleMedia281,382281,382100%93.22AmazonReta
85、il70,632299,28024%85.03TikTok/DouyinMedia65,69665,696100%80.44FacebookMedia58,97158,971100%81.35WeChatMedia50,24750,247100%91.66InstagramMedia47,43947,439100%90.77YouTubeMedia29,71029,710100%92.78LinkedInMedia15,50715,507100%83.19FoxMedia10,07410,074100%75.3Media6,6777,85785%76.010 Warner BrosBrand
86、Finance Global Most Valuable B2B Brands Index 18Sector Analysis.BankingThe Banking sector is the largest in the B2B 100 2023 ranking both in terms of number of brands contributed(17),and combined B2B brand value(USD325.7 billion).B2B services are central to all non-retail banking services including
87、lending,investment management,treasury services,cash management,and other financial products and services,to help businesses manage their cash flow,make investments,and grow their operations.ICBC is the banking brand with the largest B2B brand value at USD42.7 billion.Its overall brand value is also
88、 USD69.5 billion,making it the worlds most valuable banking brand.Fellow Chinese banks China Construction Bank(B2B brand value of USD35.4 billion),Bank of China(B2B brand value of USD30.2 billion)and Agricultural Bank Of China(B2B brand value of USD29.9 billion)are also amongst the top-five banking
89、brands in the ranking.J.P.Morgan(B2B brand value of USD31.8 billion)leads a number of American banks who also had high B2B brand values,including Bank of America(B2B brand value of USD22.9 billion),Citi(B2B brand value of USD20.9 billion),and Goldman Sachs(B2B brand value of USD16.7 billion).Banking
90、 Brand Finance Plc 20232023 RankBrandBrand ValueBSI1ICBC42,65386.42China Construction Bank35,37286.33J.P.Morgan31,80778.64Bank of China30,20286.85Agricultural Bank Of China29,93982.86Bank of America22,87975.17Citi20,89575.98Goldman Sachs16,70875.09Wells Fargo13,47770.612,72771.010 HSBCBrand Finance
91、Global Most Valuable B2B Brands Index 19Sector Analysis.Oil&GasAramco has the highest B2B brand value of any Oil&Gas brand included in the ranking,USD45.2 billion.Shell is the second most valuable in terms of B2B brand value at USD37.2 billion.77%of Shells services are B2B,while the remaining 23%acc
92、ounts for Shells B2C offerings such as fuel products and convenience store services.Aramco has benefited from a surge in prices and demand for Oil and Gas this year as well as taking market share away from sanctioned Russian Oil&Gas companies.Aramco has looked to expand its operations in the past ye
93、ar,further increasing its global presence and reach.For example,it launched Aramco Trading Americas,based out of Houston,Texas.This is an expansion of its commodities trading operation and aims to increase trading in North and South America.Malaysian Oil&Gas brand,PETRONAS(B2B brand value of 11.3 bi
94、llion),is the strongest Oil&Gas brand included in the ranking.In 2023 its Brand Strength Index score has gone up two points to 89 out of 100,earning a corresponding AAA rating.PETRONAS high BSI score is partly a result of its commitment to the industry wide energy transition,as it looks to diversify
95、 its range of energy options and significantly improve its company-wide sustainability.PETRONAS has committed to allocating 20%of its overall capital expenditure for decarbonisation projects and cleaner energy solutions from 2023 to 2026.PETRONAS has also launched Gentari,a wholly owned clean energy
96、 solutions provider,which will look to boost renewable energy in Asia Pacific.Brand Finance Plc 2023Oil&Gas2023 RankBrandBrand ValueBSI1Aramco45,22775.42Shell37,21077.23PetroChina22,98569.84Sinopec21,23677.25TotalEnergies16,85772.46Chevron15,31464.07BP13,08364.38ADNOC12,67479.49Equinor11,35180.611,3
97、3389.410 PetronasBrand Finance Global Most Valuable B2B Brands Index 20Sector Analysis.Internet&SoftwareAfter Microsoft,Oracle is the second most valuable Internet&Software brand in the ranking.Oracle offers purely B2B services and its B2B brand value of USD39.6 billion is the seventh highest in the
98、 overall ranking.In 2022,Oracles infrastructure and applications cloud businesses both performed well,helping drive sustainable growth.In 2021 Oracle acquired Cerner,an electronic health records company which offers a range of healthcare management and data services,for USD28 billion.This acquisitio
99、n has increased the brands revenues,signalling that the purchase is paying off and providing the opportunity for Oracle to move further into the healthcare market,further diversifying its offering.Salesforce is also firmly within the top five Internet&Software brands in the ranking.The brand has inc
100、reased its market share considerably over the last two decades after large spending on sales and marketing,leading to strong revenue growth.Brand Finance Plc 2023Internet&Software2023 RankBrandBrand ValueBSI1Microsoft 137,490 85.42Oracle 39,574 77.73SAP 21,095 72.24Salesforce 19,125 74.15Adobe 6,432
101、 75.1Brand Finance Global Most Valuable B2B Brands Index 21Sector Analysis.Healthcare ServicesUnitedHealthcare has the highest B2B brand value of any Healthcare Service brand included in the ranking,USD37.1 billion.Other high performing Healthcare Service brands in the ranking include Optum(B2B bran
102、d value USD20.1 billion),Anthem(B2B brand value USD19 billion),and Aetna(B2B brand value USD8.7 billion).All four are U.S.-based brands.On the one hand,this highlights the countrys dominance in this B2B sector,however,it is also likely partly explained by the reliance on private healthcare in the U.
103、S.and the countrys subsequently highly developed Healthcare Services industry.UnitedHealthcare saw a 12%year-on-year revenues increase in 2022,reflecting an increase in its capacity.People served domestically by UnitedHealthcare increased by 1.2 million over the last year,mostly driven by the compan
104、ys community-based and senior offerings.This growth further solidified the brands leadership in the market,while it continues to look to further expand both its capacity and offerings in the coming years.Brand Finance Plc 2023Healthcare Services2023 RankBrandBrand ValueBSI1UnitedHealthcare37,09476.7
105、2Optum20,12766.13Anthem18,96965.34Aetna8,70770.85Cigna7,73166.1Brand Finance Global Most Valuable B2B Brands Index 22Sector Analysis.Brand Finance Plc 2023Insurance2023 RankBrandBrand ValueBSI1Allianz Group32,87978.22Ping An26,33178.63China Life14,38984.04AXA9,69976.85Canada Life8,33786.06Progressiv
106、e7,32182.17Travelers6,89973.88Chubb6,89677.69Munich Re6,25768.15,99069.3InsuranceOf the insurance brands included in the ranking,Allianz Group has the highest B2B brand value,USD32.9 billion.Allianz achieved strong results in 2022,both in terms of revenues and operating profits,helping it consolidat
107、e its strong position in the B2B financial services marketplace.In challenging conditions,Allianz has been able to capitalise on fast-changing environments and leverage its scale and reach to provide reliable B2B services.It was followed by two Chinese Insurance groups,Ping An(B2B brand value USD26.
108、3 billion)and China Life(B2B brand value USD14.4 billion).Chinese insurance brands have faced an up-hill battle in their domestic market over the last two years as economic growth has been hindered by reduced consumer confidence,supply chain disruption,and sporadic Covid-19 outbreaks.However,as Chin
109、a begins to emerge from its zero-Covid policy in 2023 its top insurance groups may be able to rebound in a similar fashion to what U.S.based insurance brands have done previously,capitalising on a return of confidence and increased need for their services.Brand Finance Global Most Valuable B2B Brand
110、s Index 23Country Analysis.Of the 100 B2B brands included in the ranking,41%are based in the U.S.,with a combined B2B brand value of USD973.2 billion.This is over double the combined value of the next largest contributor,which is China,which accounted for 23%of the brands included,with a combined B2
111、B brand value of USD491.0 billion.The U.S.accounts for five top-10 brands in the ranking,including Microsoft and Amazon.These brands considerable B2B brand values partly explain U.S.dominance in the ranking.Other notable U.S.-based brands included at the top of the ranking are Accenture(B2B brand va
112、lue of USD39.9 billion),Oracle,and UnitedHealthcare.Despite this U.S.dominance,one notable sector in which China dominates is Engineering&Construction,where it accounted for just under half of the 15 brands included from the sector.This was led by CSCEC(B2B brand value USD31.9 billion),with CREC(B2B
113、 brand value USD19.8 billion)and CRCC(B2B brand value USD19.0 billion)following behind.Over the last year,Chinas Engineering&Construction industry has faced several pandemic-induced challenges.This has disrupted supply chains and caused delays in construction projects.However,driven by government sp
114、ending on infrastructure projects,the industrys top brands remain resilient and continue to provide innovation and technology driven B2B Engineering&Construction services.As well as being the second largest contributor of brands to the ranking,Chinese brands also performed well in terms of brand str
115、ength,accounting for four of the top-ten brands for this metricCountry AnalysisCountryNumber of Brands in Top 100Value(USDm)United States41 973,164 China23 491,022 United Kingdom5 103,537 Germany5 100,429 Japan5 60,763France475,015South Korea4 73,845 Canada3 28,438 Malaysia1 11,333 India2 33,890 Sau
116、di Arabia145,227 UAE112,674 Norway111,351 Italy1 9,564 Russia18,529 Netherlands1 8,469Switzerland1 8,466Total100 2,055,715 Brand Finance Plc 2023Brand Finance Global Most Valuable B2B Brands Index 24B2B Brand Value Ranking(USDm).Top 100 most valuable Global B2B brands 1-502023 RankBrandCountryIndust
117、ryB2B Brand ValueTotal Brand Value%of Total BVEnterprise ValueBV/EVBrand Strength Index(BSI)1MicrosoftUnited StatesInternet&Software137,490191,57472%1,428,26613%85.42AmazonUnited StatesRetail70,632299,28024%1,194,34025%85.03State GridChinaUtilities58,84658,846100%446,25813%86.94AramcoSaudi ArabiaOil
118、&Gas45,22745,227100%1,321,2383%75.45ICBCChinaBanking42,65369,54561%203,81134%86.46accentureUnited StatesIT Services39,86739,867100%167,58124%87.87OracleUnited StatesInternet&Software39,57439,574100%249,48216%77.78ShellUnited KingdomOil&Gas37,21048,20977%255,96619%77.29UnitedHealthcareUnited StatesHe
119、althcare Services37,09437,094100%293,51213%76.710Samsung GroupSouth KoreaConglomerates35,56699,65936%238,21742%81.011China Construction BankChinaBanking35,37262,68156%144,96243%86.312DeloitteUnited StatesCommercial Services34,51434,514100%110,37831%91.313Allianz GroupGermanyInsurance32,87948,35168%8
120、4,77557%78.214CSCECChinaEngineering&Construction31,89731,897100%126,59925%76.415J.P.MorganUnited StatesBanking31,80731,807100%161,26120%78.616Bank of ChinaChinaBanking30,20247,33664%117,41840%86.817Agricultural Bank Of ChinaChinaBanking29,93957,69152%136,55642%82.818VISAUnited StatesCommercial Servi
121、ces29,57529,575100%396,7697%80.819UPSUnited StatesLogistics28,32035,40080%150,81123%78.720HuaweiChinaElectronics27,36044,29262%155,85828%79.921AT&TUnited StatesTelecoms26,49049,61453%212,67223%71.022Ping AnChinaInsurance26,33144,69859%130,06534%78.623IBMUnited StatesIT Services26,15626,156100%139,25
122、619%79.624EYUnited KingdomCommercial Services25,70125,701100%84,44430%89.925PWCUnited StatesCommercial Services25,33225,332100%91,88428%88.826MastercardUnited StatesCommercial Services24,84724,847100%290,1829%79.727CiscoUnited StatesElectronics23,93323,933100%155,19615%78.128FedExUnited StatesLogist
123、ics23,08328,85480%70,66341%76.529PetroChinaChinaOil&Gas22,98529,64778%162,63918%69.830MitsuiJapanConglomerates22,96230,72475%214,18314%64.131IntelUnited StatesSemiconductors22,93622,936100%104,07022%76.132Bank of AmericaUnited StatesBanking22,87938,64759%189,00120%75.133TSMCChinaSemiconductors21,564
124、21,564100%320,1387%78.934Siemens GroupGermanyConglomerates21,41321,413100%143,79115%77.635SinopecChinaOil&Gas21,23627,14578%118,32223%77.236SAPGermanyInternet&Software21,09521,095100%118,79618%72.237CitiUnited StatesBanking20,89530,55168%80,56738%75.938Tata GroupIndiaConglomerates20,88026,38179%209,
125、55413%80.339Sumitomo GroupJapanConglomerates20,25123,88485%166,63314%61.640OptumUnited StatesHealthcare Services20,12720,127100%204,84710%66.141CRECChinaEngineering&Construction19,77619,776100%79,49925%77.742General ElectricUnited StatesEngineering&Construction19,34919,349100%62,13131%79.443Salesfor
126、ceUnited StatesInternet&Software19,12519,125100%143,19813%74.144CRCCChinaEngineering&Construction19,02419,024100%61,38231%77.745AnthemUnited StatesHealthcare Services18,96919,88395%113,59318%65.346BoeingUnited StatesAerospace&Defence17,48317,483100%124,17314%79.047SK GroupSouth KoreaConglomerates17,
127、32622,53977%158,37814%69.648NVIDIAUnited StatesSemiconductors16,92216,922100%285,3836%77.349TotalEnergiesFranceOil&Gas16,85720,72381%179,69012%72.450Goldman SachsUnited StatesBanking16,70818,60390%106,97917%75.0Brand Finance Global Most Valuable B2B Brands Index 25Brand Value Ranking.Top 100 most va
128、luable Global B2B brands 51-1002023 RankBrandCountryIndustryB2B Brand ValueTotal Brand Value%of Total BVEnterprise ValueBV/EVBrand Strength Index(BSI)51Mitsubishi GroupJapanConglomerates16,07634,96246%206,50617%65.152PayPalUnited StatesCommercial Services15,88915,889100%99,40216%84.253NTT GroupJapan
129、Conglomerates15,72636,59143%215,20117%74.554BoschGermanyEngineering&Construction15,54915,549100%100,21316%78.255ChevronUnited StatesOil&Gas15,31417,42788%309,5666%64.056KPMGUnited KingdomCommercial Services14,81814,818100%64,43023%83.757CATLChinaElectronics14,70614,706100%139,57111%65.558AirbusFranc
130、eAerospace&Defence14,39314,393100%70,71620%81.859China LifeChinaInsurance14,38917,88580%98,81918%84.060American ExpressUnited StatesCommercial Services13,63134,07840%119,30029%79.361Wells FargoUnited StatesBanking13,47732,97041%157,22221%70.662BPUnited Kingdom Oil&Gas13,08316,65479%136,81512%64.363I
131、nfosysIndia IT Services13,01013,010100%77,03017%83.464S&P GlobalUnited StatesCommercial Services12,99412,994100%110,96812%84.265VerizonUnited StatesTelecoms12,92667,44319%319,85821%78.966HSBCUnited KingdomBanking12,72719,85164%101,96719%71.067ADNOCUaeOil&Gas12,67414,20989%594,2832%79.468LG GroupSout
132、h KoreaConglomerates11,43621,26154%81,78826%78.669EquinorNorwayOil&Gas11,35113,09987%101,00713%80.670PetronasMalaysiaOil&Gas11,33312,71289%69,61918%89.471Power ChinaChinaEngineering&Construction11,20211,202100%77,08415%73.072CaterpillarUnited StatesEngineering&Construction11,17511,175100%98,88411%81
133、.173ScotiabankCanadaBanking11,13911,94993%57,04521%82.074John DeereUnited StatesEngineering&Construction10,81610,816100%114,0689%86.175Morgan StanleyUnited StatesBanking10,76414,21576%134,61611%74.376Bank of CommunicationsChinaBanking10,42018,94755%43,58743%81.577HoneywellUnited StatesEngineering&Co
134、nstruction10,06110,061100%127,8738%84.878VinciFranceEngineering&Construction10,05010,050100%77,23013%76.479Shanghai Pudong Development BankChinaBanking9,84611,07489%28,74439%77.980CapgeminiFranceIT Services9,7649,764100%33,57229%77.281AXAFranceInsurance9,69915,89961%56,17628%76.882eniItalyOil&Gas9,5
135、6410,02695%51,41919%67.883Hyundai GroupSouth KoreaEngineering&Construction9,51627,25335%81,29734%74.984DHLGermanyLogistics9,49211,86580%45,82126%70.885China Merchants BankChinaBanking9,41724,53638%108,23523%78.486ExxonMobilUnited StatesOil&Gas9,22412,02777%93,90013%73.387CEECChinaEngineering&Constru
136、ction9,1079,107100%34,74726%70.088BrookfieldCanadaBanking8,9618,961100%65,85814%65.489ConocoPhillipsUnited StatesOil&Gas8,8678,867100%157,4806%59.390AetnaUnited StatesHealthcare Services8,7078,707100%35,63324%70.891CognizantUnited StatesIT Services8,6338,633100%29,36029%72.792SberRussiaBanking8,5291
137、1,95071%37,73432%88.293Union PacificUnited StatesLogistics8,4748,474100%153,9626%74.794PhilipsNetherlandsMedical Devices8,4698,469100%21,30940%73.395RocheSwitzerlandPharma8,4668,466100%297,1413%75.596Canada LifeCanadaInsurance8,33710,86177%20,68553%86.097China MobileChinaTelecoms8,31443,38219%77,811
138、56%83.998CNBMChinaEngineering&Construction8,2428,91392%37,91324%72.299MCCChinaEngineering&Construction8,1938,193100%28,14629%73.2100MedtronicUnited StatesMedical Devices8,1038,103100%123,2857%65.5Brand Finance Global Most Valuable B2B Brands Index 26IT services brands are becoming key drivers of bus
139、iness value.Over the last few years,technology requirements have evolved from being a tactical investment to a strategic one for companies-Technology is at the heart of company strategies and transformation efforts.IT services brands that have consistently focused on building perceptions as a global
140、 technology led advisor have gained a competitive edge and unlocked significant brand and business value over the last 10 years Branding is becoming a non-negotiable activity in the IT services sector.Once again,the relevance of the IT services sector came to the forefront during the COVID-19 pandem
141、ic:without technology and state of the art systems companies were struggling to maintain sustainable operations.More generally the past few years have seen an acceleration in the trend of technology related investment decisions moving from CTOs to the board and CXOs Technology has become a key facil
142、itator of business strategy goals.While the role and board representation of Chief Information Officers(CIOs)/Chief Technology Officers(CTOs)and tech savvy executives have grown over the years,IT companies that did not have a great deal of consulting capabilities and were more strictly focused on te
143、chnology had to try to move away from their technology jargon.Most IT services brands have now moved the focus of their messaging from their services and their technical ability to business value creation and solutions for their clients.One of the elements in conveying this shift in messaging and po
144、sitioning has been through modernising their visual identity,brand identity and purpose to achieve greater resonance with clients and prospects.The motivations behind these changes vary.Some IT brands updated their Brand Identity to reflect genuine changes in their core business(e.g.:Accenture,TCS,C
145、apgemini)while others leveraged the change to accelerate the transformation internally and build future capability.Lorenzo CoruzziAssociate Director,Brand Finance Brand Finance Global Most Valuable B2B Brands Index 27IT services brands are becoming key drivers of business value.May 2017October 2020A
146、ccenture launches Let there be change campaign and new company purpose to deliver on the promise of technology and human ingenuity.March 2021TCS launches new brand positioning.TCS new brand positioning builds on belief to articulate its mission and relationship with customers as it embarks on its ne
147、xt decade of transformation led growth.June 2021Thoughtworks launches new brand positioning and logo.At the heart of this launch is a change of the company tagline tobetter align with the companys purpose.Their new tagline is creating extraordinary impact together.May 2017L&T Infotech rebrands itsel
148、f as LTI in keeping with new business reality L&T Infotechs or LTIs tagline says:Lets solve,which symbolizes its ability to come up with solutions in an ever-changing digital world.September 2022HCL Technologies rebrands as HCLTech,adopting new purpose of bringing together best of technology with th
149、e best people.November 2022LTI and Mindtree merged to make LTIMindtree and lauches a new logo.New LogosOld LogosMarch 2022Cognizant rebrands new logo along with a new tagline,Intuition engineered,to put focus on the companys digital expertise and growing digital business.January 2022Tietoevry renewe
150、d brand and identity where technology,humanity and responsibility are at the core.The core of the brand and identity is the new purpose:Creating purposeful technology to reinvent the world for good.DateWhat has changedJune 2021DXC launches new brand identity.5 years of brand shifts Brand Finance Plc
151、 2023October 2017Capgemini launches new brand identity.Capgemini launched it to demonstrate agility and motion;they were keen to humanize their name with a fresh hand written format.April 2017CSC and Hewlett Packard Enterprise merged to make DXC Technology and launches a new branding initiative,incl
152、uding a new logo and identity Thrive on change.Wipro launches new brand identity;rearticulates its values:Be passionate about clients success,Treat each person with respect,Be global and responsible,and Unyielding integrity in everything we do.Brand Finance Global Most Valuable B2B Brands Index 28De
153、eper(and broader)connection with Executives(and the board):Great brand recognition,familiarity and reputation at top level is crucial in todays environment and recognition need to be extended beyond CTOs/CIOs.Being seen as a fully capable and strategic partner from the top management is essential to
154、 drive further growth and share of wallet.Key characteristics of leading brandsImprove value articulation(Humanising brands):Importance to be able to speak the business language and find clear and easier to communicate value propositions:brands have been adopting a more relatable and personable comm
155、unication style when interacting with customers instead of standard business jargon.Improve Global positioning:For top IT brands its important to be able to really deliver on a global scale maintaining a consistent positioning across the globe(leaving room for adaption to local market condition):Thi
156、s has been a challenge due to acquisition spree and integration of niche layers to widened vertical expertise or specific IT areas of expertise;biggest challenges identified:local talent availability and Information sharing systems.Employer branding and Employee Value Proposition:Brands have worked
157、over these last years to build more relevant and stronger employer branding and to reshape their company culture around Diversity and Inclusion,Human centric approach,career opportunity,continuous learning,training,respect,trust,and talent empowerment.This in response to latest“requests”from new wor
158、kforce such as higher flexibility,better work life balance conditions,increased concern about family time and own health.Key objective behind these corporate moves are increasing employee engagement and limiting attrition rates.IT services brands are becoming key drivers of business value.Brand Fina
159、nce Plc 2023Brand Finance Global Most Valuable B2B Brands Index 29Famously Demanding B2B Brands.Tom SteinChairman and Chief Brand Officer,Stein IAS Director,North America,IAAB2B organisations that invest in brand and balance it with their investment in demand will increase in business value.This is
160、more than a hypothesis or premise.It is a matter of fact,validated by a considerable and growing body of research and case evidence.So,why isnt there even greater investment in B2B brand marketing?Traditionally,a B2B marketers textbook purpose has been to support sales.But when the focus in an enter
161、prise over-indexes on sales,which is still common in B2B,brand lives in service.Marketing campaigns as a result become short-term,tactical and rational,aimed at the buyers currently in the market.Brand campaigns in contrast are emotionally resonant,memorable and designed to reach those in market as
162、well as the much larger customer base thats not(but will be).B2Bs need both to grow in value.Think of Salesforce.It clearly is brand-led.For years,it has used its branded characters throughout campaigns and communications to make technology fun and friendly and inspire customers to blaze new trails.
163、Its Team Earth campaign is another exemplar of emotionally enlivened B2B brand building.The message is powerful:tech brands and all businesses have enough to do on Earth without becoming obsessed with adventures in space.The call to action is to be part of Team Earth part of a business community com
164、mitted to equity,sustainability and change.Its bold.Its provocative.It has Matthew McConaughey in a Super Bowl spot.It clearly aims to make Salesforce famous for being human,for caring,and for being down to earth in the best and most important possible way.At the very highest level,it has little to
165、do with the software Salesforce sells.But over time,it enables Salesforce to sell more of it,to expand its product and market footprint,to acquire and retain customers,and to inspire all its constituencies.Or course,Salesforce uses demand generation tactics and lots of them,from content marketing to
166、 performance marketing.These are made more effective and efficient by being haloed by a brand that is distinctive,memorable,mentally available and highly regarded.At Stein IAS,weve coined a concept and approach called the EQL the Emotionally Qualified Lead.In our view,the leads Salesforce generates
167、are emotionally qualified,because affinity with a brand in B2B,as in B2C,creates more and higher-quality demand.The ironic thing is that plenty of B2B C-level executives signing off on Salesforce contracts would balk at adopting this same strategy for their marketing.“Spend millions on a Super Bowl
168、ad that doesnt even talk about the product.Are you crazy?Have cute,little characters in a sales campaign?Youre fired!”This attitude must change if more B2B brands are to become more famous and reap the rewards.And it is changing.Many of the brand value leaders in this report from Accenture and Deloi
169、tte to Microsoft and Mastercard consistently invest in brand to create business value.More will do so in the future,because with fame comes fortune.Brand Finance Global Most Valuable B2B Brands Index 30Sustainability.Robert HaighStrategy&Sustainability Director,Brand Finance Acting sustainably and b
170、eing seen to do so is imperative for brands,but sustainability is a multifaceted concept that can be hard for business leaders to navigate.Investors,CEOs and CFOs,and CMOs are told by campaigners,NGOs,consultants and sustainability teams that committing to sustainability is both the right thing to d
171、o and a business imperative.There are indeed many opportunities,whether in supplying the products and services that facilitate the transition to a green economy,or simply by differentiating your brand as a sustainable alternative.However,without articulating the case in financial terms it can be har
172、d to determine the business case for action.The Brand Finance Sustainability Perceptions Index is intended to be the first step to addressing this challenge.By quantifying the value of sustainability perceptions,we hope to make the value of action on sustainability more tangible.Our research shows t
173、hat even for individual businesses,there can be billions of dollars of financial value to be gained from enhanced action and associated communication.Equally,there can be billions at risk from insufficient action that leads to accusations of greenwashing,or even misallocated or excessive investments
174、 in sustainability communication that does not cut through.This is just as true for B2B brands as it is for B2C.The driver scores for B2B dominated sectors show a very significant role for sustainability as a driver of choice.The figure for Real Estate is 9.5%,Insurance 7.9%,IT Services 7.8%,Logisti
175、cs 7.2%,Banking 6.8%,Commercial Services 5.8%,Semiconductors 4.7%,and Engineering 2.8%.This is on a par with many mainly B2C sectors,such as Utilities and Auto(both 9.4%),alcoholic beverages(7.5%),apparel(6.7%)and consumer electronics(4.7%).Until recently,sustainability as a driver of choice has bee
176、n seen as the preserve of B2C sectors,such as cosmetics,food and drink,and apparel.However,the rapid acceleration of ESG-linked funds over the last five years,along with increasingly firm demands from other stakeholders(such as customers,regulators and the public),has changed that picture.B2B busine
177、sses are now acutely aware that to continue to raise finance at competitive rates,to retain customers,and to stay ahead of legislation,commitment to sustainability and communication of progress is essential.Many B2B brands find themselves in an interesting position of being both subject to ESG-relat
178、ed demand drivers,but also solutions providers in the transition towards a lower carbon economy.Brand Finance recently undertook work for HCLTech,one of the worlds leading IT services consultancies,to help them better understand the role that sustainability plays in shaping the way the way potential
179、 customers,employees and financial analysts evaluate HCLTech.Whilst we found that the sustainability commitments outlined in HCLs Act.Pact.Impact sustainability report are very important to these groups,another key finding is that brands in the sector are more differentiated by the sustainability-re
180、lated services that they offer to their clients.Whether offering consulting services,financing,or novel technologies,B2B brands have a huge scope to create tangible change that benefits society and the environment.Communicating this capacity is key to maximising sustainability perceptions value.Insi
181、ghts.Brand Finance Global Most Valuable B2B Brands Index 32Bigger Brand Ideas:The Wind in B2Bs SailsPaul CoxhillCEO,WARCB2B marketing was long seen as the poor cousin of B2C,and career moves from the latter to the former were greeted with raised eyebrows and concerns over whether you were making the
182、 right choice.There is no doubt that that is changing.Leaders in B2B organisations are increasingly realising that their brand is a clear differentiator in a crowded space;that the ability to charge a premium in price can be heavily influenced by perceptions of value;and that long-term sales growth-
183、as well as short-term conversion-relies on having a clear promise across all parts of the organisation,amplified by marketing.Its an exciting time to be involved in B2B marketing as the lines blur with B2C and we move towards a more human-centered marketing approach.And there are three themes that w
184、e hear most from the market and cover regularly at WARC.The wind is in B2Bs sailsWhile its hard to put exact numbers on B2B ad investment,data from WARC Media suggests that it is outperforming the wider ad market.In the UK,the Business&Industrial category we track has outperformed the wider market e
185、very year since 2018,with the only exception being 2020.That is true of other B2B heavy sectors like telcos/utilities and tech/electronics.Anecdotally,this rings true.B2B is growing in importance to the agency market as spending proves more resilient than some consumer-facing sectors.Whats more,afte
186、r the pandemic disrupted traditional B2B activities such as trade shows and conferences,we saw growing interest in alternative routes to market-for example,riding on the podcast boom among professionals.It is,then,a time of growth and experimentation for B2B marketers.A greater focus on brand-buildi
187、ngThere has been a concerted effort over the past few years to make the case for brand-building in B2B.This has been led by LinkedIns B2B Institute,and organisations such as WARC have supported that drive with new frameworks(such as the B2B Effectiveness Ladder)and fresh B2B takes on influential B2C
188、 concepts such as Category Entry Points and Mental Availability.Brand Finance Global Most Valuable B2B Brands Index 33Bigger Brand Ideas:The Wind in B2Bs Sails.Theres no doubt that message is getting throughLast year,we awarded Maersk a second consecutive Grand Prix in the B2B category of the WARC A
189、wards for Effectiveness.It is a prime example of a B2B organisation shifting not just its messaging approach but its entire communications investment profile in favour of creative messaging designed to reach a broad audience.The case study is packed with nuggets on how Maersk activated that approach
190、 over time to drive commercial impact in both the short and long term.Its not an isolated example-we have also seen multiple entries into this years awards,and pitches for Cannes Lions sessions,of companies making similar shifts.Fewer but bigger ideasThe realisation that strong brands matter in B2B
191、is leading CMOs in the space to look for new,more interesting ideas.A recent piece from WARC by an agency called alan reported that 88%of B2B CMOs would like B2B brands to take a bold,contrarian or provocative approach(up from 64%in 2017).The goal is to be distinctive and build memories.To do that r
192、equires what a white paper released last year by WARC and Stein IAS terms Big Long Ideas:that is,concepts big and long enough that they can be used over the extended B2B buyer journey and in multiple types of execution.Such ideas need to be original;they need to have value to the customer as well as
193、 to the organisation;and they need to combine an emotional appeal with an ability to communicate rational product or service information.Brand Finance Global Most Valuable B2B Brands Index 34TATA-Leadership with Trust.Harish BhatBrand Custodian,Tata SonsIt is heartening to note that TATA has feature
194、d amongst the top 40 most valuable B2B brands in the world,in this new Brand Finance report.TATA is Indias most valuable brand,and our groups B2B presence spans sectors as diverse as technology,steel and coffee.In fact,the TATA group began its voyage 155 years ago as a B2B player in the textiles ind
195、ustry,and we have over the past several decades pioneered many strong B2B businesses,which have always endeavoured to add sustained value to our customers and to the community.The TATA brand represents“Leadership with Trust”,an idea that resonates very powerfully in the B2B space.Our customers seek
196、trustworthy products and services,cutting-edge expertise and thought leadership,innovation that powers their business goals,a commitment to sustainable business practices and good corporate governance.The enterprises of the Tata group are committed to excellence in each of these areas.We bring to be
197、ar the power of the TATA group in pushing the frontiers of progress in each of our industries,always focusing on the question how can we add value to the vision that our customers are pursuing for their respective businesses?Amongst the big trends shaping our world today are the remarkable march of
198、digital,the rapid rise of artificial intelligence,the advent of new technologies in so many industries and the paramount importance of sustainability in every aspect of business.At TATA,we are sharply focused on each of these key areas some instances of this in the B2B space include the digital lead
199、ership of Tata Consultancy Services,the electric vehicles being pioneered by Tata Motors and the investments in renewable energy by Tata Power.As the world prepares for an exciting and challenging tomorrow,we are well poised to be a proud partner to businesses across the world as they shape their vo
200、yages into this future.For B2B businesses,brands are an essential and powerful asset.Brands are markers of trust,which is so important in every single industry.The sources of such trust including strong values,deep expertise and consistent excellence are brought to life by B2B brands.In addition,bra
201、nds play such a key role in building an endearing face of the Company that appeals emotively to all stakeholders,including customers,employees and the community at large.We are proud that TATA is so well regarded across the world,and our constant effort is directed at further strengthening the pilla
202、rs of our brand and keeping it always relevant to current and future needs.Brand Finance Global Most Valuable B2B Brands Index 35B2B Brand Value Starts with the Customer.Alice CherryChief Marketing Officer,S&P GlobalWhat makes a great B2B brand?If this question was easy to answer,if there was an exa
203、ct formula for success,the very high B2B brand value revealed in this report would be even higher.We know that there is no one-size-fits-all answer,but here are some key ingredients that make business-to-business marketing unique and can help build successful brands,put B2B brand value on par with B
204、2C brands.A great B2B brand can lift your products into the consideration set,establish preference,and directly drive revenue growth.At S&P Global,we place customers at the core of what we do,so our focus is on strengthening the ways our brand delivers value to customers.For customers,B2B purchases
205、are rarely ill-considered or inconsequential for their careers or business success.Buying the right software or data set can make a big difference.Sales like this are complex,often taking weeks or even months to move through the process and require constant alignment to each customers needs.This mea
206、ns B2B brands carry a heavy load and a deep level of engagement.Creating a great B2B brand is therefore an exercise in creating an exceptional Customer Experience(CX).The most effective CX strategy is one that is informed by deep knowledge of the customer.We strive to understand our customers work.W
207、hat problems are they trying to solve for?What is their process?What are their frustrations?What constitutes success?When you lean into a“customer at the core”mindset,you foster stronger partnerships and commit to keeping your brand relevant.This type of marketing is hard;it can never be static.Our
208、customers live in a world of constant innovation and change.High-value marketing must innovate(and iterate)to keep pace.It must meet customers where they are right now or know where they are headed before they might even know.This is only possible with the people and a company culture that is built
209、around an authentic purpose.At S&P Global,we strive to build such a culture.This type of marketing demands a team that is motivated by being curious,service oriented,and trustworthy.Building a great B2B brand is a challenging exercise in connecting people and purpose,customer experience,innovation,a
210、nd authenticity.By prioritising the customer at the core of everything we do,we can build lasting partnerships and deepen brand relevancy.Methodology.Brand Finance Global Most Valuable B2B Brands Index 37Enterprise ValueBranded Business ValueBrand ContributionDefinitions.MicrosoftMicrosoftMicrosoftM
211、icrosoftBrand Value+Enterprise ValueThe value of the entire enterprise,madeup of multiple branded businesses.Where a company has a purely mono-branded architecture,the enterprise valueis the same as branded business value.+Branded Business ValueThe value of a single branded businessoperating under t
212、he subject brand.A brand should be viewed in the contextof the business in which it operates.Brand Finance always conducts a brandedbusiness valuation as part of any brandvaluation.We evaluate the full brand valuechain in order to understand the linksbetween marketing investment,brand-tracking data,
213、and stakeholder behaviour.+Brand ContributionThe overall uplift in shareholder valuethat the business derives from owningthe brand rather than operatinga generic brand.The brand values contained in our leaguetables are those of the potentiallytransferable brand assets only,makingbrand contribution a
214、 wider concept.An assessment of overall brand contributionto a business provides additional insightsto help optimise performance.+Brand ValueThe value of the trade markand associated marketing IP withinthe branded business.Brand Finance helped to craft theinternationally recognised standard onBrand
215、Valuation ISO 10668.It definesbrand as a marketing-related intangibleasset including,but not limited to,names,terms,signs,symbols,logos,and designs,intended to identify goods,servicesor entities,creating distinctive imagesand associations in the minds of stakeholders,thereby generating economic bene
216、fits.Brand ValueBrand Finance Global Most Valuable B2B Brands Index 38Brand Valuation Methodology.1324Definition of BrandBrand is defined as a bundle of trademarks and associated IP which can be used to take advantage of the perceptions of all stakeholders to provide a variety of economic benefits t
217、o the entity.Brand ValueBrand value refers to the present value of earnings specifically related to brand reputation.Organisations own and control these earnings by owning trademark rights.All brand valuation methodologies are essentially trying to identify this,although the approach and assumptions
218、 differ.As a result published brand values can be different.These differences are similar to the way equity analysts provide business valuations that are different to one another.The only way you find out the“real”value is by looking at what people really pay.As a result,Brand Finance always incorpo
219、rates a review of what users of brands actually pay for the use of brands in the form of brand royalty agreements,which are found in more or less every sector in the world.This is sometimes known as the“Royalty Relief”methodology and is by far the most widely used approach for brand valuations since
220、 it is grounded in reality.It is the basis for a public rankings but we always augment it with a real understanding of peoples perceptions and their effects on demand from our database of market research on over 3000 brands in over 30 markets.DisclaimerBrand Finance has produced this study with an i
221、ndependent and unbiased analysis.The values derived and opinions produced in this study are based only on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear.Brand Finance accepts no responsibility and will not be liable in the even
222、t that the publicly available information relied upon is subsequently found to be inaccurate.The opinions and financial analysis expressed in the report are not to be construed as providing investment or business advice.Brand Finance does not intend the report to be relied upon for any reason and ex
223、cludes all liability to any body,government or organisation.We review what brands already pay in royalty agreements.This is augmented by an analysis of how brands impact profitability in the sector versus generic brands.This results in a range of possible royalties that could be charged in the secto
224、r for brands(for example a range of 0%to 2%of revenue)The BSI score is applied to the royalty range to arrive at a royalty rate.For example,if the royalty range in a sector is 0-5%and a brand has a BSI score of 80 out of 100,then an appropriate royalty rate for the use of this brand in the given sec
225、tor will be 4%.We adjust the rate higher or lower for brands by analysing Brand Strength.We analyse brand strength by looking at three core pillars:“Inputs”which are activities supporting the future strength of the brand;“Equity”which are real current perceptions sourced from our market research and
226、 other data partners;“Output”which are brand-related performance measures such as market share.Each brand is assigned a Brand Strength Index(BSI)score out of 100,which feeds into the brand value calculation.Based on the score,each brand is assigned a corresponding Brand Rating up to AAA+in a format
227、similar to a credit rating.We determine brand-specific revenues as a proportion of parent company revenues attributable to the brand in question and forecast those revenues by analysing historic revenues,equity analyst forecasts,and economic growth rates.We then apply the royalty rate to the forecas
228、t revenues to derive brand revenues and apply the relevant valuation assumptions to arrive at a discounted,post-tax present value which equals the brand value.Brand ImpactBrand Impact Brand StrengthBrand StrengthForecast Brand Value CalculationBrand Finance Global Most Valuable B2B Brands Index 39Br
229、and StrengthAnalytical rigour and transparency are at the heart of our approach to brand measurement at Brand Finance.Therefore,in order to adequately understand the strength of brands we conduct a structured,quantitative review of data that reflect the Brand Value Chain of brand-building activities
230、,leading to brand awareness,perceptions and onwards to brand-influenced customer behaviour.To manage the Brand Value Chain process effectively we create and use the“Brand Strength Index”(BSI).This index is essentially a modified Balanced Scorecard split between the three core pillars of the Brand Va
231、lue Chain:Brand Inputs,Brand Equity and Brand Performance.Brand Strength IndexWidely recognised factors deployed by marketers to create brand loyalty and market share.Perceptions of the brand among different stakeholder groups,with customers being the most important.Quantitative market and financial
232、 measures representing the success of the brand in achieving price and volume premium.Stakeholder EquityBusiness PerformanceMarketing InvestmentBrand Strength.132Although we follow a general structure incorporating the three pillars(Brand Inputs,Brand Equity and Brand Performance),the attributes inc
233、luded are different depending on the sector.A brand strength index for a luxury apparel brand will differ in structure from an index designed for a telecommunications brand.An index for luxury apparel brand may emphasize the exclusiveness,word of mouth recommendation,and price premium,whereas an ind
234、ex for a telecommunications company may emphasis customer service and ARPU as important metrics.These attributes are weighted according to their perceived importance in driving the following pillar:Brand Investment measures in driving Brand Equity;Brand Equity measures for Brand-Related Business Per
235、formance measures;and finally the relevance of Brand-Related Business Performance measures for driving business value.Attribute Selection and WeightingBrands ability to influence purchase depends primarily on peoples perceptions.Therefore,the majority of the Brand Strength Index is derived from Bran
236、d Finances proprietary Global Brand Equity Research Monitor research,a quantitative study of a sample of over 100,000 people from the general public on their perceptions of over 4,000 brands in over 25 sectors and 37 countries.However,at Brand Finance we also believe that there are other measures th
237、at can be used to fill gaps that survey research may not capture.These include total investment levels for example in marketing,R&D,innovation expenditure,that can a better guide to future performance than surveys.They also include online measures such as ratings by review sites and social media eng
238、agement that can give a more granular understanding of marketing effectiveness.Finally they also include real behaviour for example net additions,customer churn and market share,to overcome the tendency for surveys to incorporate intended behaviour rather than real.Over a period of 3 to 4 months eac
239、h year,we collect all this data across all the brands in our study in order to accurately measure their comparative strength.Data CollectionIn order to convert raw data in to scores out of 10 that are comparable between attributes within the scorecard,we then have to benchmark each attribute.We do t
240、his by reviewing the distribution of the underlying data and creating a floor and ceiling based on that distribution.Each brand is assigned a Brand Strength Index(BSI)score out of 100,which feeds into the brand value calculation.Based on the score,each brand is assigned a corresponding rating up to
241、AAA+in a format similar to a credit rating.Analysing the three brand strength measures helps inform managers of a brands potential for future success.Benchmarking and Final ScoringBrand Finance Global Most Valuable B2B Brands Index 40Global Brand Equity Monitor.Original market research in 38 countri
242、es and across 31 sectors with over 150,000 consumers rating over 5,000 brands.Brand KPIs and Diagnostics1.Brand Funnel2.Brand Usage3.Quality4.Reputation5.Loyalty6.Closeness9.Brand Imagery7.Recommendation(NPS)10.Advertising Awareness8.Word of Mouth11.Brand MomentumAwarenessHave heard of your brandFam
243、iliarityKnow something about your brandConsiderationWould consider buying/using your brandApparelAutomobilesLuxury AutomobilesBanksCosmetics&Personal CareFoodInsuranceOil&GasRestaurantsRetail&E-CommerceTelecomsUtilitiesAirlinesLuxury ApparelAppliancesBeersLuxury CosmeticsGeneral RetailHealthcare Ser
244、vicesHotelsHousehold ProductsLogisticsMediaPharmaReal EstateSoft DrinksSpirits&WineTechnologyTyresTier 1Tier 2Brand Finance Global Most Valuable B2B Brands Index 41Brand Finance values brands on a segmented revenue basis.For each brand,Brand Finance classifies each product level segmentation into ei
245、ther B2B or B2C depending on how revenue is earned within that product segmentation for that particular brand.Based on Brand Finances Most Valuable Global Brands Study,each product segmentation is attributed to a certain amount of brand value.In order to determine the B2B Brand Value for a brand,the
246、 segmentations which are classified as B2B for a brand have their corresponding brand values summed up.Brand Finance defines B2B as transactions that occur between two businesses or organisations.In a B2B context,one business is typically providing products or services to another business that is lo
247、oking to solve a problem at their company.B2B interactions can occur at any point in the supply chain.For example,when a manufacturer sells to a distributor,a distributor sells to a retailer,or a company hires another company to provide a specific service such as software.B2B marketing strategies ar
248、e often focused on building long-term relationships,establishing credibility and trust,and delivering value to other businesses.This encompasses the strategies,messaging,and visual elements that a B2B brand uses to communicate with and differentiate itself from other businesses in the marketplace.Th
249、e B2B marketplace is wide-ranging and there are a number of different sub-sections within,many of which over-lap.Different B2B brands target different users in relation to the products and services they offer,and this informs the marketing strategies that they deploy.Perhaps the clearest example of
250、Business-to-Business services is the Commercial services sector.Companies such as EY and Deloitte both provide 100%of their services to other businesses,with no interaction with consumers.These includes consulting and financial services,amongst many other offerings,to provide solutions to other busi
251、nesses.A variation of this is Business-to-Government(B2G)services,which refers to commercial transactions between businesses and government agencies or entities.The Defence sector is an example of a majority B2G services dominated sector.B2G businesses provide goods or services to government agencie
252、s or institutions,or participate in government procurement processes to bid on contracts for specific projects or services.As the below diagram highlights,the B2B/B2G landscape is somewhat fluid in that brands can be operating in one,or several different sub-sectors simultaneously.There is also sign
253、ificant overlap between both services and sectors,creating a multitude of variations and niches that B2B and B2G brands can operate in.B2B Brand Valuation Methodology.B2BCommercial ServicesConsumer GoodsDefense Oil&GasAerospaceB2CB2G Brand Finance Global Most Valuable B2B Brands Index 42+Baack,D.W.,
254、Wilson,R.T.,van Dessel,M.M.,&Patti,C.H.(2016).Advertising to businesses:Does creativity matter?Industrial Marketing Management,55,169-177.+Brand Finance.(2023).Global 500 2023.online Available at:https:/ Finance.(2023).IT Services 25 2023.online Available at:https:/ Survey.(n.d.).Home.online Availab
255、le at:https:/cmosurvey.org/.+Jones,J.P.(1990).Ad spending:maintaining market share.Harvard business review,68 1,38-42.+Mohara.(April 11th,2023).B2B2C:The Only Guide You Will Need.online Available at:https:/mohara.co/b2b2c-the-only-guide-you-will-need/.+Schwarz,Jann,LinkedIn.(April 5,2022).Why B2B Ma
256、rketers Need to Get in Touch With TheirFeelings.online Available at:https:/ university,IE Insights.(March 17,2023).The Strength of a B2B Is in Its Brand.online Available at:https:/www.ie.edu/insights/articles/the-strength-of-a-b2b-is-in-its-brand/.+The B2B Institute.(2021).The B2B Effectiveness Code
257、.online Available at:https:/ Services.A Brand Value Report provides a complete breakdown of the assumptions,data sources,and calculations used to arrive at your brands value.Each report includes expert recommendations for growing brand value to drive performance and offers a cost-effective way to ga
258、ining a better understanding of your position against peers.Request your ownBrand Value ReportBenefitsContentsCompetitorBenchmarkingVisit email enquiriesbrandfi Brand Valuation SummaryBrand Strength TrackingCost of Capital AnalysisRoyalty RatesCustomer Research FindingsInsightStrategyBenchmarkingEdu
259、cationCommunicationUnderstandingBrand Finance Global Most Valuable B2B Brands Index 45Consulting Services.Brand ValuationMake your brands business case Brand valuations are used for a variety of purposes,including tax,finance,and marketing.Being the interpreter between the language of marketers and
260、finance teams they provide structure for both to work together to maximise returns.Brand StrategyMake branding decisions with your eyes wide open Once you understand the value of your brand,you can use it as tool to understand the business impacts of strategic branding decisions in terms of real fin
261、ancial returns.Make branding decisions using hard dataBrand ResearchWhat gets measured Brand evaluations are essential for understanding the strength of your brand against your competitors.Brand Strength is a key indicator of future brand value growth whether identifying the drivers of value or avoi
262、ding the areas of weakness,measuring your brand is the only way to manage it effectively.+Brand Audits+Primary Research+Syndicated Studies+Brand Scorecards+Brand Drivers&Conjoint Analysis+Soft Power+Brand Impact Analysis+Tax&Transfer Pricing+Litigation Support+M&A Due Diligence+Fair Value Exercises+
263、Investor Reporting+Brand Positioning+Brand Architecture+Franchising&Licensing+Brand Transition+Marketing Mix Modelling+Sponsorship Strategy+Are we building our brands strength effectively?+How do I track and develop my brand equity?+How strong are my competitors brands?+Are there any holes in my exi
264、sting brand tracker?+What do different stakeholders think of my brand?+How much is my brand worth?+How much should I invest in marketing?+How much damage does brand misuse cause?+Am I tax compliant with the latest transfer pricing?+How do I unlock value in a brand acquisition?+Which brand positionin
265、g do customers value most?+What are our best brand extension opportunitiesin other categories and markets?+Am I licensing my brand effectively?+Have I fully optimised my brand portfolio?+Am I carrying dead weight?+Should I transfer my brand immediately?+Is a Masterbrand strategy the right choice for
266、 my business?Brand Finance Global Most Valuable B2B Brands Index 46Brand Evaluation Services.How are brands perceived in my category?Brand Finance tracks brand fame and perceptions across 30 markets in 10 consumer categories.Clear,insightful signals of brand performance,with data mining options for
267、those who want to dig deeper all at an accessible price.What if I need more depth or coverage of a more specialised sector?Our bespoke brand scorecards help with market planning and can be designed to track multiple brands over time,against competitors,between market segments and against budgets.Our
268、 30-country database of brand KPIs enables us to benchmark performance appropriately.Do I have the right brand architecture or strategy in place?Research is conducted in addition to strategic analysis to provide a robust understanding of the current positioning.The effectiveness of alternative archi
269、tectures is tested through drivers analysis,to determine which option(s)will stimulate the most favourable customer behaviour and financial results.How can I improve return on marketing investment?Using sophisticated analytics,we have a proven track record of developing comprehensive brand scorecard
270、 and brand investment frameworks to improve return on marketing investment.What about the social dimension?Does my brand get talked about?Social interactions have a proven commercial impact on brands.We measure actual brand conversation and advocacy,both real-world word of mouth and online buzz and
271、sentiment,by combining traditional survey measures with best-in-class social listening.With strategic planning and creative thinking,we develop communications plans to create dialogue with stakeholders that drives brand value.Our approach is integrated,employing tailored solutions for our clients ac
272、ross PR and marketing activations,to deliver strategic campaigns,helping us to establish and sustain strong client relationships.We also have a specific foc us on geographic branding,including supporting nation brands and brands with a geographical indication(GI).Brand Dialogue Limited is a member o
273、f the Brand Finance Plc GroupResearch,Strategy&Measurement Brand&Communications StrategyCampaign PlanningMarket Research&InsightsMedia AnalysisPublic Relations&CommunicationsMedia RelationsPress Trips&EventsStrategic Partnerships&Influencer OutreachSocial Media ManagementMarketing&EventsPromotional
274、EventsConference ManagementNative AdvertisingRetail MarketingContent CreationBespoke Publications,Blogs&NewslettersPress ReleasesMarketing Collateral DesignSocial Media ContentStrategic Communications Crisis CommunicationsBrand Positioning&ReputationGeographic BrandingCorporate Social Responsibility
275、(CSR)Brand Finance Global Most Valuable B2B Brands Index 48Market ContactEmailAfricaJeremy Sampsonj.sampsonbrandfi Asia Pacifi cAlex Haigha.haighbrandfi AustraliaMark Crowem.crowebrandfi BrazilEduardo Chavese.chavesbrandfi CanadaAlexandre St-Amoura.amourbrandfi China Scott Chens.chenbrandfi East Afr
276、ica Walter Seremw.serembrandfi FranceBertrand Chovetb.chovetbrandfi Germany/Austria/SwitzerlandUlf-Brun Drechselu.drechselbrandfi IndiaAjimon Francisa.francisbrandfi IrelandDeclan Ahernd.ahernbrandfi ItalyMassimo Pizzom.pizzobrandfi MexicoLaurence Newelll.newellbrandfi Middle EastAndrew Campbella.ca
277、mpbellbrandfi NigeriaTunde Odumerut.odumerubrandfi PolandKonrad Jagodzinskik.jagodzinskibrandfi PortugalPilar Alonso Ulloap.alonsobrandfi RomaniaMihai Bogdanm.bogdanbrandfi South AmericaPilar Alonso Ulloap.alonsobrandfi SpainPilar Alonso Ulloap.alonsobrandfi Sri LankaAliakber Alihussaina.hussainbran
278、dfi SwedenAnna Brolina.brolinbrandfi TurkeyMuhterem Ilgnerm.ilgunerbrandfi United KingdomAnnie Browna.brownbrandfi USALaurence Newelll.newellbrandfi Brand Finance Network.For further information on our services and valuation experience,please contact your local representative:Contact us.The Worlds Leading Brand Valuation ConsultancyT:+44(0)20 7389 9400E: