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1、ChinesePharma2023A special report on the most valuable and strongest Chinese pharma brandsJuly 2023Brand Finance Chinese Pharma July 2023 3Contents.About Brand Finance4Background8Executive Summary11Brand Value Analysis12Brand Strength Analysis15Brand Spotlight24Guangzhou Pharmaceutical 26Methodology
2、28Our Services38 2023 All rights reserved.Brand Finance Plc.4 Brand Finance Chinese Pharma July 2023 About Brand Finance.Brand Finance is the worlds leading brand valuation consultancy.We bridge the gap between marketing and financeBrand Finance was set up in 1996 with the aim of bridging the gap be
3、tween 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 of brandsWe put thousands of the worlds biggest brands to the test every year.Ranking brands across all sectors and co
4、untries,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,to brand strategy and visual identity,to tax and accounting.We pride ourselves on technical credibilityBrand Finance
5、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 Standards Council.Our experts helped craft the internationally recognised standards on Brand Valuation ISO 10668 and
6、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 Marketing Accountability Standards Board.Get in T all other enquiries:+44 207 389 For media enquiries,please contact:Martin
7、 ShiManaging Director Assistant,CA 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 gaining
8、 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 FindingsInsightStrategyBenchmarkingEducatio
9、nCommunicationUFor business enquiries,please contact:Scott ChenManaging Director,China+86 6 Brand Finance Chinese Pharma July 2023 Brand Finance InstituteBrand Finance Institute is the educational division of Brand Finance,whose purpose is to create and foster a professional environment for knowledg
10、e-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 purpose to equip the brand valuation and strategy practitioners with the necessary
11、 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.Brandirectory is the worlds largest database of current and historical brand values,providing easy access to all Bra
12、nd Finance rankings,reports,whitepapers,and consumer research published since 2007.+Browse thousands of published brand values+Track brand value,strength,and rating across publications and over time+Use interactive charts to compare brand values across countries,sectors,and global rankings+Purchase
13、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 dialogue that drives brand value.Brand Dialogue has over 25 years of experience in
14、 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 indication(GI).Brand Dialogue manages communications activities across Brand Finance
15、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 practical brand management that results in tangible benefits for your business.BGlo
16、bal 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 7th consecutive year conducting the studyVisit or email enquiriesbrandfi 8 Brand Finance Chinese Pharma July 2023 Brand Finance Chi
17、nese Pharma July 2023 pharmaceutical industry has seen rapid growth after the pandemic,allowing it to further its transformation from a pharmaceutical manufacturing base to a strategic research and development(R&D)hub that prioritises the digitalisation of its processes.As such,the industry currentl
18、y prioritises innovation in drug manufacturing,rather than the production of generic drugs.China can expect to see its major pharma brands investing in R&D in the coming years.Brand Finance has already evaluated the worlds most valuable and strongest pharma brands,and this report aims to take it one
19、 step further by delving into the Chinese pharma industry for the following three reasons:1.New opportunities have arisen for pharma brands because of the rapid advancement and adoption of artificial intelligence(AI)and big data The rise in popularity of healthcare products has continued to remain h
20、igh post-pandemic,with Chinese healthcare projected to maintain an annual growth rate of approximately 9.7%.The advancement of AI and big data catalyses consumer healthcare expenditure.This is mainly because pharma brands can now conduct more effective and quicker R&D.This results in the invention o
21、f more personalised and cheaper health products that aligns more closely with consumer needs,increasing demand.Additionally,application of AI and big data in sales and marketing will also improve consumer experience,incentivising increase in demand.Moreover,it is estimated that AI and big data will
22、generate an approximate US$100 billion in the pharma industry annually.2.New opportunities for Chinese medicine The recent trend of the pharma industry is to focus on customisable health products to meet the consumer needs more effectively.Therefore,in the context of the Chinese market,multinational
23、 pharma brands are changing their traditional,global centric R&D models by engaging in alternative collaboration models with pharma brands specialising in Traditional Chinese Medicine(TCM)to create integrated health products.Consequently,this type of product would enable both types of pharma brands
24、to increase their consumer base by appealing to a wider demographic.3.Demand for online medical services is growing rapidly After the pandemic,Chinese patients are increasingly confident in utilising online medical services due to its reliability,convenience and efficiency.By December 2022,users of
25、online medical services grew by 21.7%year-on-year,making online medical services the fastest growing application.The demand for telehealth services is expected to translate into a surge in online sales of prescription drugs.Chinese pharma brands seek to integrate their online and offline business pl
26、atforms via digitalisation,providing consumers with timely drug supply services.Brand Finance Chinese Pharma July 2023 1110 Brand Finance Chinese Pharma July 2023 Executive Summary.Brand Finance has analysed and ranked the top 15 most valuable and strongest Chinese pharma brands in 2023.+Sinopharm r
27、etains its position as the most valuable Chinese pharma brand with a brand value increase of 7%to US$3.8 billion.The brand is spearheading the mass adoption of AI and big data in the pharma industry.+Coming as the second most valuable Chinese pharma brand is Guangzhou Pharmaceutical,with a brand val
28、ue increase of 8%to US$2.2 billion.It also defended its crown as the most valuable TCM brand in our rankings.+SPH ranks third despite its brand value falling 1%to US$1.5 billion.Its investments in R&D continue to propel the brand as the Chinese pharma industry increasingly focuses on developing its
29、R&D capabilities.Brand Finance conducted original market research on the perceptions of these 15 Chinese pharma brands,surveying the opinions of 1,000 respondents aged 18-75 across the nation.Results from the survey directly impact the Brand Strength Index(BSI)scores for the brands analysed.+Yunnan
30、Baiyao defends its title as the strongest Chinese pharma brand with a BSI score of 73 and a corresponding AA brand strength rating.+Tong Ren Tang(BSI 72),Sinopharm(BSI 70),Guangzhou Pharmaceutical(BSI 70)and Pien Tze Huang(BSI 69)complete the list of the five strongest brands.+Overall consumer perce
31、ptions of Chinese pharma brands remain largely unchanged,staying on the positive with good perceptions of quality and care of consumers over profits.+Yunnan Baiyao and Tong Ren Tang continue to score highly across the awareness,familiarity and consideration metrics.Yunnan Baiyao boasts the highest f
32、amiliarity score(89%)across all three age groups.+According to respondents,the collective reputation of TCM brands is more favourable than that of non-TCM Chinese pharma brands 7.6 out of 10 as compared to 7.3.+In terms of recommendation,Tong Ren Tang ranks first with a score of 8.3 out of 10.Yunnan
33、 Baiyao also garnered a high recommendation score of 8.1.12 Brand Finance Chinese Pharma July 2023 Brand Finance Chinese Pharma July 2023 at the frontlines of the pandemic,Chinese pharma brands demonstrated an outstanding performance in the previous year of 2021.According to our rankings,the pharma
34、industry posted a 3%cumulative brand value increase.This year,two new entrants made the list.They are Pien Tze Huang and Harbin Pharmaceutical with impressive brand values of US$312.97 million and US$117.45 million respectively.Smart pharmacy initiative helps Sinopharm defend top position At the top
35、 of Chinas most valuable pharma brands is Sinopharm,which recorded a 7%brand value increase to U$3.8 billion.Additionally,the brand saw an increase in its brand strength rating from AA-to AA.Sinopharm launched its smart pharmacy which utilises AI analytics and big data to achieve sales damage preven
36、tion,intelligent monitoring and other similar service-based functions.This allowed for the improvement in health services offered,incentivising higher consumer demand.Guangzhou Pharmaceutical reaps commendable accolades from its multidisciplinary approach Guangzhou Pharmaceutical retained 2nd positi
37、on in our rankings,with its brand value growing by 8%to US$2.2 billion and recording an improvement in brand strength rating from AA-to AA.The brand was the only pharma brand specialising in TCM in Guangzhou that received an“Excellent”rating by the National Administration of Traditional Chinese Medi
38、cine(NATCM).This accolade is due to a multidisciplinary approach Brand Value Analysis.Brand Value Analysis.Having established their domestic consumer base during the pandemic,many Chinese pharma brands are venturing into global markets.It is crucial that they continue to focus on innovation by enhan
39、cing R&D capabilities and incorporating digitalisation and artificial intelligence into their products.Doing so will allow them to better cater to the needs of their consumers,creating for them competitive advantages over their pharma counterparts from other regions.Scott ChenManaging Director,Brand
40、 Finance Chinawhich integrated technology as part of its R&D processes despite it being a TCM brand.Thus,Guangzhou Pharmaceuticals adaptability to technology places it in a strong position to reap the rewards of future technology and strategic partnerships.SPH maintains position by focusing on innov
41、ation and research SPH retained its 3rd place ranking with a dip in brand value by 1%to US$1.5 billion while retaining a brand strength rating of AA-.In 2022,the brand established high-end innovation platforms such as Huiyong and Xunyao Biotechnology,attracting top scientists to its R&D system.Durin
42、g the pandemic,SPH drove Chinas drug procurement efforts.It secured exclusive import and distribution rights of the Japan manufactured COVID-19 resistant oral drug Ensitrelvir.SPH supplied the Chinese market with the vital drug,ensuring timely treatment of patients.Top 15 Most Valuable Brands Brand
43、Finance Plc 20231+7%USD3.8 bn6+4%USD0.4 bn11-6%USD0.2 bn2+8%USD2.2 bn7-13%USD0.4 bn12-20%USD0.2 bn3-1%USD1.5 bn8-USD0.3 bn13+27%USD0.2 bn4+2%USD0.8 bn9+9%USD0.3 bn14-17%USD0.1 bn5+22%USD0.6 bn10-4%USD0.3 bn15+68%USD0.1 bn00000203287 14 Brand Finance Chinese Pharma July 2023 Bra
44、nd Finance Chinese Pharma July 2023 5 Most Valuable Traditional Chinese Medicine Brands1+8%USD2.2 bn2+2%USD0.8 bn3-USD0.3 bn4+9%USD0.3 bn5-4%USD0.3 bnGuangzhou Pharmaceutical secures most valuable TCM brand title for 3rd year running Brand Finance has also created a secondary ranking from its rankin
45、g of Chinese pharma brands with specific focus on TCM brands given their unique standing within the broader industry.Guangzhou Pharmaceutical lays claim to being the most valuable TCM brand once again,with Yunnan Baiyao coming in 2nd place.Pien Tze Huang,a new entrant in our brand rankings,completes
46、 the top three in 3rd place.Yunnan Baiyao partnered with technology giant Huawei through a“Comprehensive Cooperation Agreement on Artificial Intelligence Drug R&D”arrangement which intends to enhance the scientific and technological content of Yunnan Baiyaos products.999(brand value up 9%to US$302.7
47、 million)and Tong Ren Tang(brand value down 4%to US$278.69 million)finish the list of the top five most valuable TCM brands in 4th and 5th positions respectively.In 2022,on World Stroke Day,Tong Ren Tang held its“Peer Support for Stroke Prevention”campaign for the seventh consecutive year in Hong Ko
48、ng.It screened live broadcasted lectures and provided visits to stroke rehabilitation centres to raise awareness about stroke prevention among the younger generations.Brand Strength Analysis.Top 15 Strongest Brands173.4-0.7AA667.9-2.8AA-1163.2+0.4A+271.7+1.4AA766.6+9.7AA-1259.6+0.2A+369.8+1.3AA865.8
49、-0.7AA-1358.4-5.1A469.6+3.9AA965.0+2.1AA-1455.9-0.03A568.9-AA-1063.4+7.7A+1553.4-2.0A-Brand Finance Plc 2023In addition to measuring overall brand value,Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment,stakeholder e
50、quity and business performance.Brand Finance conducted original market research on the Chinese pharma sector,where 1,000 respondents were asked about the 15 Chinese pharma brands that feature in the ranking and their opinions on a variety of metrics including reputation,recommendation and trust.Yunn
51、an Baiyao is the strongest Chinese pharma brand with a BSI score of 73 out of 100 and a corresponding AA brand strength rating.Tong Ren Tang(BSI 72),Sinopharm(BSI 70),Guangzhou Pharmaceutical(BSI 70)and Pien Tze Huang(BSI 69)complete the top five strongest brands.02223346 2 581291071113Br
52、and Value Analysis.Brand Finance Plc 202316 Brand Finance Chinese Pharma July 2023 Brand Finance Chinese Pharma July 2023 Strength Analysis.Awareness and Familiarity General awareness recedes but deeper brand familiarity is on the rise Despite COVID-19s ongoing impact within China,there are signs th
53、at pandemic living is becoming increasingly established as the new norm.As a result,top-level awareness for Chinese pharma brands have been softening since 2021 as the initial fear factor dissipates slightly.This is evident as average Chinese pharma brand awareness dropped 5%to 49%from 54%in 2021.Ho
54、wever,while broader awareness is not at 2021 levels,a growing nucleus of consumers who have a stronger depth of familiarity with Chinese pharma brands has been established.For instance,TCM brands are gaining prominence and traction due to improved saliency;Yunnan Baiyao and Tong Ren Tang took the le
55、ad in familiarity growth,posting growths of 22%and 20%respectively.On average,we note that Chinese pharma brand familiarity posted an 8%increase to 32%since 2021.Brand Strength Analysis.AwarenessFamiliarity Brand Finance Plc 2023 Brand Finance Plc 2023SinopharmSinopharmGuangzhou PharmaceuticalGuangz
56、hou PharmaceuticalSPHSPHFosun PharmaFosun Pharma999999Humanwell HealthcareHumanwell HealthcareYunnan BaiyaoYunnan BaiyaoCSPC PharmaCSPC PharmaTong Ren TangTong Ren TangTaijiTaijiHuadong MedicineHuadong MedicinePien Tze HuangPien Tze HuangJoincare PharmaJoincare PharmaBuchang PharmaBuchang PharmaHarb
57、in PharmaceuticalHarbin PharmaceuticalAverageAverage 2023 2021 2023 202122%12%27%12%69%45%61%36%97%27%89%49%13%52%28%97%27%28%11%83%52%11%16%4%81%28%49%5%46%23%39%12%41%9%85%45%53%29%97%40%67%NEW13%60%NEW94%23%31%63%23%6%57%5%25%20%80%6%56%21%54%37%56%24%32%18 Brand Finance Chinese Pharma July 2023
58、Brand Finance Chinese Pharma July 2023 Strength Analysis.Brand Strength Analysis.Consideration and Usage Overall consideration dipped for most brands but there is a slight uptick in usage levels Although stronger familiarity breeds more opportunity,consideration levels are slightly below 2021 number
59、s,with Joincare Pharma witnessing a notable decline of 25%.With Guangzhou Pharmaceutical possessing a stronger saliency level,it is the only brand to have maintained consideration levels at 91%.Buchang Pharma also saw its consideration levels improve to 73%.The positive momentum for Guangzhou Pharma
60、ceutical extended to its usage,with the brand seeing uplifts of 5%,alongside Yunnan Baiyao with an improvement by 7%.Similarly,Tong Ren Tang and Harbin Pharmaceutical also observe usage increases.Consideration Brand Finance Plc 2023SinopharmGuangzhou PharmaceuticalSPHFosun Pharma999Humanwell Healthc
61、areYunnan BaiyaoCSPC PharmaTong Ren TangTaijiHuadong MedicinePien Tze HuangJoincare PharmaBuchang PharmaHarbin PharmaceuticalAverage 2023 202272%71%92%91%98%72%83%77%94%63%50%73%73%87%78%87%74%75%96%91%99%82%NEW92%98%88%82%82%72%91%92%81%UsageTraditional Chinese MedicineWestern MedicineYunnan Baiyao
62、GPCPien Tze Huang999Tong Ren TangTaijiBuchang PharmaSinopharmSPHHuadong MedicineFosun PharmaCSPC PharmaJoincare PharmaHumanwell HealthcareHarbin Pharmaceutical2023 Western Medicine Average2023 Traditional Chinese Medicine Average 2023 20212021 Western Medicine Average2021 Traditional Chinese Medicin
63、e Average Brand Finance Plc 202349%91%41%42%38%23%53%34%26%29%33%18%14%56%44%52%33%21%58%32%25%21%34%22%14%49%33%51%32%50%84%68%NEW76%20 Brand Finance Chinese Pharma July 2023 Brand Finance Chinese Pharma July 2023 Strength Analysis.Quality,Reputation and Recommendation Slight softening in reputatio
64、n and recommendation although positive perceptions on quality persist Perceptions on the quality of Chinese pharma brands remain strong and have been largely stable although Harbin Pharmaceutical improved its performance for this metric to challenge Yunnan Baiyao,Tong Ren Tang and Guangzhou Pharmace
65、uticals standing in terms of quality perceptions.With regards to reputation scores,TCM brands still command superiority and are more likely to be recommended as compared to their non-TCM counterparts.This highlights the importance and value of heritage and tradition within the Chinese pharma industr
66、y.Quality Brand Finance Plc 2023 Brand Finance Plc 2023SinopharmGuangzhou PharmaceuticalSPHFosun Pharma999Humanwell HealthcareYunnan BaiyaoCSPC PharmaTong Ren TangTaijiHuadong MedicinePien Tze HuangJoincare PharmaBuchang PharmaHarbin PharmaceuticalAverage 2023 20213.73.93.94.04.23.64.03.74.13.43.53.
67、63.74.13.83.93.63.73.94.04.23.7NEW3.94.23.83.53.63.93.73.93.8Traditional Chinese MedicineWestern MedicineYunnan BaiyaoGPCPien Tze Huang999Tong Ren TangTaijiBuchang PharmaSinopharmSPHHuadong MedicineFosun PharmaCSPC PharmaJoincare Pharma7.37.77.57.97.88.27.77.38.27.27.57.67.57.07.27.46.86.87.77.78.57
68、.98.57.47.58.07.77.57.26.97.47.47.82023 Western Medicine Average2023 Traditional Chinese Medicine Average 2023 20212021 Western Medicine Average2021 Traditional Chinese Medicine AverageBrand Strength Analysis.NEWYunnan BaiyaoGPCPien Tze Huang999Tong Ren TangTaijiBuchang PharmaSinopharmSPHHuadong Med
69、icineFosun PharmaCSPC PharmaJoincare PharmaHumanwell HealthcareHarbin PharmaceuticalTraditional Chinese MedicineTraditional Chinese MedicineWestern MedicineWestern Medicine7.67.97.88.07.78.18.07.68.37.47.97.97.77.47.57.67.57.47.87.88.3NEW8.08.37.58.18.17.97.78.07.37.87.78.1RecommendationHumanwell He
70、althcareHarbin Pharmaceutical Brand Finance Plc 202322 Brand Finance Chinese Pharma July 2023 Brand Finance Chinese Pharma July 2023 may be attributed to the continued existence of the COVID-19 virus,alongside public expectations of the relaxation of pandemic measures and their vaccination experienc
71、es.Drivers of Consideration and Reputation Popularity,consumer-centricity,product range and value are top drivers while availability is central to driving consideration We observed similar attributes that drove brand consideration and overall reputation across Chinese pharma brands.These attributes
72、pertain to popularity,focusing on consumers,as well as the value and range of products.Attributes concerning popularity and availability of products were found to be crucial in improving levels of consideration.On the other hand,attributes pertaining to brand leadership,differentiation,as well as as
73、sociations with being established and traditional helped brands build stronger perceptions of their reputation.Brand Image Chinese pharma brands are perceived being as more accessible but perceptions of community support and scientific credentials decline With a proliferation of marketing campaigns
74、in recent years,Chinese pharma brands are increasingly viewed as being more innovative and boasting a good range of products.Perceptions of their offerings as being costly have also drastically reduced,particularly for Sinopharm.This is likely aided by government price caps and pharma brands lowerin
75、g their prices in order to qualify for Chinas national medical insurance coverage schemes.Despite the generally positive sentiments surrounding Chinese pharma brands,perceptions of them being committed to supporting communities and broader society,as well as offering medicines that are scientificall
76、y proven,have taken a nosedive of 15%and 9%respectively.Brand Strength Analysis.Popular with my friendsPopular with my friendsWidely availableA step ahead of the competitionPuts their customers firstPuts their customers firstGood range of products to choose fromGreat value for moneyTraditionalGreat
77、value for moneyGenuinely offer something differentGood range of products to choose fromTop 5 Consideration DriversTop 7 Reputation Drivers Brand Finance Plc 2023Brand Spotlight.26 Brand Finance Chinese Pharma July 2023 Brand Finance Chinese Pharma July 2023 Pharmaceutical.Guangzhou Pharmaceutical is
78、 one of the leading pharmaceutical brands in China.As one of the largest pharmaceutical enterprises in the country,it owns 12 time-honoured brands and 10 century-old brands.These include Wanglaoji,a popular drinks brand known as the ancestor of Chinese herbal tea,and others such as Jingxiutang,Panga
79、oshou and Caizhilin.Under Guangzhou Pharmaceuticals belt are also ten well-known Chinese trademarks such as GPC,Baiyunshan and Qixing.In addition,the brands Chenliji pharmaceutical factory has been certified by the Guinness World Records as the oldest pharmaceutical factory amassing 423 years of ope
80、rations.Guangzhou Pharmaceutical emerged as one of Chinas highest valued pharmaceutical brands,with a brand value increase of 8%to US$2.2 billion.It defended its 2nd place in our rankings and charted a Brand Strength Index score increase of 3.9 to 70.Guangzhou Pharmaceutical scored higher in metrics
81、 such as Familiarity,Usage,Innovation and having a good range of products,bringing its brand strength rating from AA-to AA.Guangzhou Pharmaceutical.Rank Brand Strength Rank Brand ValueUSD2.2 bn+7.8%2069.6+3.942Guangzhou Pharmaceutical continues to be a key driver of international recognition of TCM.
82、In collaboration with the China Academy of Chinese Medical Sciences(CACMS)and other enterprises,it created the Chinese Medicine Culture Space at the Winter Olympic Village for the 2022 Beijing Olympic Winter Games and 2022 Paralympic Winter Games in Beijing.The exhibition showcased and promoted TCM
83、culture and products to the delight of international visitors.As a frontrunner of sustainability in the nations pharmaceutical sector,GPC seeks to regulate its toxic waste disposal procedures;in line with national waste management initiatives.For instance,it increased its emphasis placed on addressi
84、ng toxic waste and emissions where the brand implemented more robust measures to address the environmental impacts of air,water and waste emissions.Guangzhou Pharmaceutical adhered to the strict“Integrated Wastewater Discharge Standard(III-class criteria)”,which ensured that its waste management pro
85、cedures were effective.Methodology.Brand Finance Chinese Pharma July 2023 Brand Finance Chinese Pharma July 2023Market Research Methodology.Company screeningIn order for the companies to be included in both the Brand Finance Chinese Pharma ranking,and the original market research conducted by Brand
86、Finance,they must have met all four of the below criteria:1.The company must be a Chinese pharma brand 2.The companys revenue must be over US$1.5 billion(in 2021)3.The company must have a general customer-facing and retail-facing business brand 4.If the company has businesses in more than one produc
87、t segment,then the pharma product segment must account for over 50%of total revenue Market researchFifteen companies passed the screening outlined above and were included in the market research for this report:CR SANJIU,Baiyunshan,Buchang Pharma,CSPC Pharma,Fosun Pharma,GPC,Harbin Pharmaceutical,Hua
88、dong Medicine,Humanwell Healthcare,Joincare Pharma,Pien Tze Huang,Sinopharm,SPH,Taiji,Tong Ren Tang,and Yunnan Baoyao.The total sample size was 1000,which was evenly divided into the 10 researched cities.The survey was conduced face to face during March 2023.32 Brand Finance Chinese Pharma July 2023
89、 Brand Finance Chinese Pharma July 2023 ValueBranded Business ValueBrand ContributionDefinitions.China Resources Sanjiu999999999Brand Value+Enterprise Value The value of the entire enterprise,made up of multiple branded businesses.Where a company has a purely mono-branded architecture,the enterprise
90、 value is the same as branded business value.+Branded Business Value The value of a single branded business operating under the subject brand.A brand should be viewed in the context of the business in which it operates.Brand Finance always conducts a branded business valuation as part of any brand v
91、aluation.We evaluate the full brand value chain in order to understand the links between marketing investment,brand-tracking data,and stakeholder behaviour.+Brand Contribution The overall uplift in shareholder value that the business derives from owning the brand rather than operating a generic bran
92、d.The brand values contained in our league tables are those of the potentially transferable brand assets only,making brand contribution a wider concept.An assessment of overall brand contribution to a business provides additional insights to help optimise performance.+Brand Value The value of the tr
93、ade mark and associated marketing IP within the branded business.Brand Finance helped to craft the internationally recognised standard on Brand Valuation ISO 10668.It defines brand as a marketing-related intangible asset including,but not limited to,names,terms,signs,symbols,logos,and designs,intend
94、ed to identify goods,services or entities,creating distinctive images and associations in the minds of stakeholders,thereby generating economic benefits.Brand ValueBrand Valuation Methodology.1324Definition of BrandBrand is defined as a bundle of trademarks and associated IP which can be used to tak
95、e advantage of the perceptions of all stakeholders to provide a variety of economic benefits to 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 valuati
96、on methodologies are essentially trying to identify this,although the approach and assumptions 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 t
97、he“real”value is by looking at what people really pay.As a result,Brand Finance always incorporates 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“Roy
98、alty Relief”methodology and is by far the most widely used approach for brand valuations since 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
99、 over 3000 brands in over 30 markets.DisclaimerBrand Finance has produced this study with an independent 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 d
100、eficient or unclear.Brand Finance accepts no responsibility and will not be liable in the event 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 bu
101、siness advice.Brand Finance does not intend the report to be relied upon for any reason and excludes 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 g
102、eneric brands.This results in a range of possible royalties that could be charged in the sector 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 scor
103、e of 80 out of 100,then an appropriate royalty rate for the use of this brand in the given sector 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 strengt
104、h of the brand;“Equity”which are real current perceptions sourced from our market research and 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
105、.Based on the score,each brand is assigned a corresponding Brand Rating up to AAA+in a format 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,eq
106、uity analyst forecasts,and economic growth rates.We then apply the royalty rate to the forecast 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 St
107、rengthForecast Brand Value Calculation34 Brand Finance Chinese Pharma July 2023 Brand Finance Chinese Pharma July 2023 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
108、we conduct a structured,quantitative review of data that reflect the Brand Value Chain of brand-building activities,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
109、”(BSI).This index is essentially a modified Balanced Scorecard split between the three core pillars of the Brand Value 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
110、 brand among different stakeholder groups,with customers being the most important.Quantitative market and financial measures representing the success of the brand in achieving price and volume premium.Stakeholder EquityBusiness PerformanceMarketing InvestmentBrand Strength.132Although we follow a ge
111、neral structure incorporating the three pillars(Brand Inputs,Brand Equity and Brand Performance),the attributes included 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
112、 luxury apparel brand may emphasize the exclusiveness,word of mouth recommendation,and price premium,whereas an index 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 foll
113、owing pillar:Brand Investment measures in driving Brand Equity;Brand Equity measures for Brand-Related Business Performance measures;and finally the relevance of Brand-Related Business Performance measures for driving business value.Attribute Selection and WeightingBrands ability to influence purcha
114、se depends primarily on peoples perceptions.Therefore,the majority of the Brand Strength Index is derived from Brand 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 b
115、rands in over 25 sectors and 37 countries.However,at Brand Finance we also believe that there are other measures that 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 fut
116、ure performance than surveys.They also include online measures such as ratings by review sites and social media engagement 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 over
117、come the tendency for surveys to incorporate intended behaviour rather than real.Over a period of 3 to 4 months each 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
118、 of 10 that are comparable between attributes within the scorecard,we then have to benchmark each attribute.We do this 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,w
119、hich feeds into the brand value calculation.Based on the score,each brand is assigned a corresponding rating up to 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 ScoringGloba
120、l Brand Equity Monitor.Original market research in 38 countries 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
121、of Mouth11.Brand MomentumAwarenessHave heard of your brandFamiliarityKnow something about your brandConsiderationWould consider buying/using your brandApparelAutomobilesLuxury AutomobilesBanksCosmetics&Personal CareFoodInsuranceOil&GasRestaurantsRetail&E-CommerceTelecomsUtilitiesAirlinesLuxury Appar
122、elAppliancesBeersLuxury CosmeticsGeneral RetailHealthcare ServicesHotelsHousehold ProductsLogisticsMediaPharmaReal EstateSoft DrinksSpirits&WineTechnologyTyresTier 1Tier 236 Brand Finance Chinese Pharma July 2023 Brand Finance Chinese Pharma July 2023 from the Global Brand Equity Monitor.Similarly i
123、n the apparel category(especially footwear),the correlation between coolness and sustainability is not especially high.Meanwhile in France,the epitome of chic,the 2nd-highest highest scorer among non-luxury brands is.Burger King.Get your brand talked-aboutCool brands get talked about,and word-of-mou
124、th(WOM)is another key asset some brands possess.It has proven impact on brand growth,hence WOMs inclusion in our Brand Strength Index model.In an absolute sense,big brands get talked about a lot more than small ones their sheer mass presence and relevance ensures that.But deeper analysis reveals a n
125、umber of challenger brands who look set to profit from above-expectation WOM levels and positive consumer sentiment.Keep an eye on Tim Hortons in Spain,Peros Garment Factory(Canada),SAIC in,yes,the USA and iinet in Singapore.1st2nd3rd Top-ranked brands for being“Cool”(Among Category Users)Brand Fina
126、nce Plc 2023Highlights from the Global Brand Equity Monitor.Brand Finances proprietary market research provides a robust assessment of brand health on key equity measures,allowing comparison both within and across product and service categories.Benchmarking against brands outside your sector is espe
127、cially helpful in assessing the real strength of brand not just the best of a bad bunch in a category where brands are generally weaker.What makes a brand great?Amazon is undoubtedly one of the worlds strongest brands,one of just a handful achieving the highest AAA+rating.It has an extremely strong
128、brand funnel,with near-universal familiarity,and consideration,and while its reputation score is not best-in-class,it is stronger than many of its critics might think.Every strong brand has its own winning formula,and our research highlights Amazons particular advantages.Top of that list is the outs
129、tanding value which shoppers believe Amazon delivers.Amazon ranks on this measure in big markets such as Brazil,USA,UK,and is#1 among retailers in many more.Value has always been a big driver of consumer behaviour,but Amazon also delivers a slick shopping experience(“excellent website/apps”),and thi
130、s powerful combination is irresistible for many consumers,even those who question Amazons values and broader corporate reputation.Does brand purpose deliver?Argument rages among CMOs and marketing gurus over this issue.The jury is out our data suggests that being seen to“care about the wider communi
131、ty”does correlate somewhat with higher Consideration levels,and is an asset particularly for local favourites such as Jio(India)or Bunnings(Australia).But brands like McDonalds and Nike(as well as Amazon)are liked and desired despite somewhat moderate reputations on sustainability and values.Whos th
132、e coolest cat?In categories like apparel,tech and automotive,sustainability can make you cool,but its not the only way.Porsche wins relatively few plaudits for sustainability,but its bercoolness is very apparent.Great value for moneyExcellent website/apps 55 11 81 61Selected Rankings for Amazon All
133、Non-Luxury Brands Brand Finance Plc 202343%Care about the wider community(Rank#1)88%Consideration Conversion 8%Care about the wider community(Rank#86)92%Consideration Conversion Our Services.40 Brand Finance Chinese Pharma July 2023 Brand Finance Chinese Pharma July 2023 Services.Brand ValuationMake
134、 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 finance teams they provide structure for both to work together to maximise returns.Brand StrategyMake branding decisions with
135、 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 financial returns.Make branding decisions using hard dataBrand ResearchWhat gets measured Brand evaluations are essential for un
136、derstanding 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 avoiding the areas of weakness,measuring your brand is the only way to manage it effectively.+Brand Audits+Primary Research+Syndi
137、cated Studies+Brand Scorecards+Brand Drivers&Conjoint Analysis+Soft Power+Brand Impact Analysis+Tax&Transfer Pricing+Litigation Support+M&A Due Diligence+Fair Value Exercises+Investor Reporting+Brand Positioning +Brand Architecture+Franchising&Licensing +Brand Transition+Marketing Mix Modelling +Spo
138、nsorship 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 existing brand tracker?+What do different stakeholders think of my brand?+How much is my brand worth?+How much should I inves
139、t 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 positioning do customers value most?+What are our best brand extension opportunities in other categories and markets?+Am I licensing
140、 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 my business?Brand Evaluation Services.How are brands perceived in my category?Brand Finance tracks brand fame and percep
141、tions across over 38 markets in 31 consumer categories.Clear,insightful signals of brand performance,with data mining options for 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 p
142、lanning and can be designed to track multiple brands over time,against competitors,between market segments and against budgets.Our 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
143、addition to strategic analysis to provide a robust understanding of the current positioning.The effectiveness of alternative architectures is tested through drivers analysis,to determine which option(s)will stimulate the most favourable customer behaviour and financial results.How can I improve retu
144、rn on marketing investment?Using sophisticated analytics,we have a proven track record of developing comprehensive brand scorecard 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 prove
145、n commercial impact on brands.We measure actual brand conversation and advocacy,both real-world word of mouth and online buzz and sentiment,by combining traditional survey measures with best-in-class social listening.With strategic planning and creative thinking,we develop communications plans to cr
146、eate dialogue with stakeholders that drives brand value.Our approach is integrated,employing tailored solutions for our clients across PR and marketing activations,to deliver strategic campaigns,helping us to establish and sustain strong client relationships.We also have a specific focus on geograph
147、ic branding,including supporting nation brands and brands with a geographical indication(GI).Brand Dialogue Limited is a member of the Brand Finance Plc GroupResearch,Strategy&Measurement Brand&Communications StrategyCampaign PlanningMarket Research&InsightsMedia AnalysisPublic Relations&Communicati
148、onsMedia RelationsPress Trips&EventsStrategic Partnerships&Influencer OutreachSocial Media ManagementMarketing&EventsPromotional EventsConference ManagementNative AdvertisingRetail MarketingContent CreationBespoke Publications,Blogs&NewslettersPress ReleasesMarketing Collateral DesignSocial Media Co
149、ntentStrategic Communications Crisis CommunicationsBrand Positioning&ReputationGeographic BrandingCorporate Social Responsibility(CSR)For further information on our services and valuation experience,please contact your local representative:Brand Finance Network.Market ContactEmailAfricaJeremy SAsia
150、PacificAlex HAustraliaMark CBrazilEduardo CCanadaLaurence NChina Scott CEast Africa Walter SFranceBertrand C Germany/Austria/SwitzerlandUlf-Brun DIndiaAjimon FIrelandDeclan AItalyMassimo PMexicoLaurence NMiddle EastAndrew CNigeriaTunde OPolandKonrad JPortugalPilar Alonso URomaniaMihai BSouth AmericaPilar Alonso USpainPilar Alonso USri LankaAliakber ASwedenAnna BTurkeyMuhterem IUnited KingdomAnnie BUSALaurence NContact us.The Worlds Leading Brand Valuation ConsultancyT:+44(0)20 7389 9400E: