Sony, LG, Wal-Mart among Most Extendible Brands
06 Jun 2005|Added Value
REDWOOD SHORES, Calif., AMSTERDAM and SAN FRANCISCO (June 6, 2005) – The world’s most extensive survey of the most recognized international and regional brands found that Coca-Cola, McDonald’s and Microsoft top the list as the most recognized brands worldwide. But Sony, LG and Wal-Mart are first among a group of newcomers topping the “Brand Extendibility” global ranking, which identifies a brand’s ability to enter new markets and add new products to its portfolio.
The survey was conducted in Q4 2004 jointly by consulting firm Cheskin; global on-line customer insight company MSI-ITM; and CMCD Visual Symbols Library. It covered 17 countries and included extensive interviews with nearly 13,000 consumers, the largest geographically balanced study on brand extendibility to date.
“Building brand recognition is not enough in any market,” said Darrel Rhea, CEO of Cheskin. “It may help defend share, but extending a brand portfolio or moving into new geographic markets requires a brand to create a more active consumer experience.”
The survey also found that despite long-held historical and cultural biases, consumers across the globe are starting to see the world in a uniform way. The report and complete list of most extendable brands is available for download here or via www.msi-itm.com; and www.visualsymbols.com/globalstudy.
“Markets are growing and changing so quickly, marketers need up-to-date insights on this dynamic global consumer,” said Paul Strasser, managing director of MSI-ITM and president of MSI International. “Our findings show that even though we are well on our way to becoming one global community, consumer relationships with brands are complex and can still be influenced by cultural preferences.”
The survey is the second in a three-part series titled “Global Market Bias,” which examines a range of underlying forces that influence brand-driven global markets. The results found:
- Coca-Cola, McDonald’s and Microsoft topped the list of the world’s most recognized brands with 95 percent global consumer awareness.
- Sony, LG and Wal-Mart topped the extendibility index. Consumers gave Wal-Mart wide latitude by supporting the company in nearly every category, including computers/sofware, hotels and kitchen appliances. At the same time, consumers across many borders expressed interest in LG stores, while South Koreans showed specific interes in LG credit cards, athletic wear and an airline
- More than half of all consumers surveyed prefer global brands across a variety of different product categories, including computers/software, athletic wear, consumer electronics and automobiles; Latin Americans and Europeans showed a preference for all things global and Americans and Asians split over the preference for global and local brands. Younger consumers preferred global brands more than older consumers.
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