TOP BRANDS IN 2015
brands
INTRODUCTION AND SELECTING 50 TOP BRANDS 2014 TOP 50 BRANDS NIGERIA These are the brands that have
shown tremendous leadership in their sectors and across the corporate Nigeria
and had earned sufficient brand equity. This has endeared them to Nigerians and
thus, has considerable followership.
These brands have transcended their products or services categories to become
part of the popular culture. They are iconic, they have set themselves apart
from others, and have inspire an enduring affection among the populace. A brand
is definitely more than a name, mark, logo, icons or catch phrase. A brand is a
promise and successful brands deliver on their promises. They tell consumers
what value they add through their products and deliver to the expectation of
their customers.
It’s by delivering on the promises that
they create value. The top50brands selected
are brands that have weather the storms over the years and are adding values to
our daily lives. The 2014 evaluation also includes
‘
top 10 Brands to Watch.
ese are exciting list of potential top brands
in Nigeria. Companies with compelling presence and significant brand building
activities. Though th
ey aren’t among the t
op 50 yet, but they are promising. We hope
this exciting block will be joining the top 50 league table very shortly. Brand
has become an essential property that enhances the value of a company. Strong
brand enhance followership, market performance and sells the company. The time
has come for directors and stakeholders to start making more concerted effort
about
their company’s intangible assets which
enhance the value of their brand, at the board
meetings, same way they deliberate on stock values. This is because; a strong
and healthy brand drives sales and sustains the company. Advertisement, as
wonderful as they are only help in communicating your promises. Delivering on
your product and/or service promise is key for a sustaining brand power. We
evaluate the intangible asset of major brands and presenting the top 50 in the
process. While brand valuation is relatively new in Nigeria, we are happy to
see increasing awareness of company executives, trying more to ensure that they
keep their brand promises. A major
limitation to our processes is unavailability of sufficient information,
particularly, for the qualitative review of the brand; hence we have to rely on
the physical presence, consumer behavior and perception of the brands to arrive
at the top, while our target is to have a combination both qualitative and
quantitative. We are working with several other organizations to achieve this
and hopefully we will be able to have the top 50 brands listed in terms of
asset base and consumer perception in the future.
EMERGENCE
Activities that led to the emergence of the 50
top brands 2014 started with a review of major brands in Nigeria earlier in the
year. The number of brands for our evaluation was subsequently reduced the top
100 that meet stated criteria. These 100 brands were presented to the public at various
platforms. This becomes necessary particularly for the popularity survey. Our
brand selection was based on a set of criteria which are listed below. The
brands that meet the stated criteria was put up for popularity vote to
determine their perception from consumers and customers. This was done through
a phone based selection system. We assigned a unique set of number to a
particular brand which is made known to the general public. To choose their
favourite brands, phone users were required to simply flash their
brand’s unique
number and
it’s
selected. This also gives room to accommodate larger percentage of
the populace to partake in the process. We had a set of built in checks to
prevent multiple voting from the same phone number, for instance, a phone
number can only select a particular brand once, every other time is not
recorded. However, same number can select up to 50 brands. The flash to choose
system was developed by Vconnect Global Services Limited, a leading ICT firm in
Nigeria.
SELECTION CRITERIA Market Acceptability:
This is the extent to which a brand is acceptable to the market. This is
actually tested with the popularity evaluation.
Corporate social responsibilities
: in CSR, we relied mainly on publicly
available information on the companies, even though
we didn’t have the means of physically examine
the claims. We
reviewed these information and try to check
from more than one source.
Customer service delivery:
Meeting
the ever increasing expectation of the service-sensitive customer is one of the
greatest challenges facing organizations today
. In a highly competitive market as we are,
customer is central to the success of any organization. The more of them you
have and retain the better your bottom-line. Customers on the other hands are
getting more demanding, after all, they have options. Customer has got his
grooves back. We took time to consider service promises and delivery. This is
done by interaction with some customers. Even though everyone is now
consciously building on their customer satisfaction, some still exceeded
others, mostly, using innovative customer services systems. More investment in
training and modern technology has also help. All these reflected in choices made by
customers.
Visionary & Innovation:
A key measurement of healthiness of a
brand is its vision which forms the brand promises made. This had to be
adequately communicated to all target audience in a language that they
understand. Coca-cola, our case study for example has been communicating just
one vision/promise, Happiness, wonderful experience. Every of their media
reflect this. We live in a fast changing world; a year 2000 model of operation
will make a complete failure of any company in 2014. So we took note of those
with significant improvement in outlook and public knowledge operations
Popularity evaluation
, we had a phone based selection system
specially designed for this purpose by
Vconnect Global Services Limited, called
‘flash to choose’. We
assigned a unique set of numbers to each
of the 100 brands being reviewed. All a user
need to do is simply flash his/her preferred brand’s unique number and it’s
selected. Certain keys were built in to prevent undue advantages. A particular
phone
number can only select a brand once. Any other
flash is not recorded. However, a number can choose more than one brand. Our goal on the
project is to regularly present monetary values of major operational brands in
Nigeria, using the combination of qualitative and quantitative brand
valuation methodology. In a short while, the annual TOP 50 BRANDS NIGERIA®
table will be based on these two, such that we present the actual monetary
worth of the top brands. That is, they will be 50 most valuable brands in terms
of financial value of their brands. A major limitation to this is the
unavailability of related data which are necessary for our valuation. We are
making every effort, working with our partners to make this happen and finally
conform to global standard practice. Therefore, the TOP 50 BRANDS NIGERIA® 2014
in alphabetical order are: 1.
ACCESS BANK PLC 2.
AIICO INSURANCE PLC 3.
AIRTEL NIGERIA. 4.
ARIK AIR OF NIGERIA. 5.
BUA GROUP. 6.
CADBURY NIGERIA PLC 7.
COCA COLA NIGERIA
LIMITED 8.
CONOIL PLC. 9.
DAAR GROUP (AIT &
RAYPOWER) 10.
DANA GROUP: 11.
DANGOTE CEMENT PLC 12.
DIAMOND BANK PLC 13.
DUFIL PRIMA FOOD (INDOMIE) 14.
ECO BANK 15.
ETISALAT 16.
EXXON MOBIL. 17.
FCMB 18.
FIRST BANK NIGERIA 19.
FORTE OIL PLC 20.
FRIESLAND PLC 21.
GLOBACOM. 22.
FLOUR MILL NIG PLC (GOLDEN PENNY
GSK.
GTBANK PLC
GUINNESS NIGERIA
HONEYWELL GROUP. 27.
JULIUS BERGER 28.
LAFARGE WAMPCO 29.
MANSARD INSURANCE 30.
UNILEVER NIGERIA PLC
. MTN NIGERIA 31.
MULTICHOIC 32.
NAHCO PLC.
NESTLE PLC. 34.
NIGERIA BREWERIES. 35.
NOKIA
36.
OANDO PLC
PROMASIDO 38.
PUNCH NEWSPAPER39.
PZ CUSSON. 40.
Seven-Up bottling Company Plc 41.
SHELL 42.
STALLION GROUP 43.
STANBIC IBTC. 44.
TOTAL PLC. 45.
TOYOTA NIGERIA 46.
UACN PLC. 47.
UBA PLC. 48.
UNION BANK PLC. 50.
ZENITH BANK PLC
THE
grand finale of the 10th edition of popular Nigeria Hair Show took
place recently at the AY Gardens and Bar in Lagos. Seven stylists who
were winners at the zonal preliminaries across the country participated
in the finals.