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1、Nordic 1502023The annual report on the most valuable and strongest Nordic brandsSeptember 2023Brand Finance Nordic 150 2Contents.2023 All rights reserved.Brand Finance Plc.About Brand Finance3Foreword7David Haigh,Chairman&CEO,Brand FinanceRanking Analysis9Brand Value&Brand Strength Analysis10Brand V
2、alue Ranking17Brand Spotlight 20Equinor 21 Interview with Anniken Haugen Jebsen,Vice President Brand&Engagement,Equinor ASAICA 23 Interview with Josefin Lundmark,Marketing Director,ICA SwedenMethodology25Our Services32Brand Finance Nordic 150 3About Brand Finance.Brand Finance is the worlds leading
3、brand valuation consultancy.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 quan
4、tify the financial value 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 mark
5、eting and market research,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 th
6、e International Valuation 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 offic
7、ial approval of the Marketing Accountability Standards Board.Get in Touch.For all other enquiries:+44 207 389 For media enquiries,please contact:Michael JosemCommunications DFor business enquiries,please contact:Anna BrolinManaging Director N Brand Value Report provides a complete breakdown of the a
8、ssumptions,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 a better understanding of your position against peers.Request your ownBrand Value ReportBen
9、efitsContentsCompetitorBenchmarkingVisit email enquiriesbrandfi Brand Valuation SummaryBrand Strength TrackingCost of Capital AnalysisRoyalty RatesCustomer Research FindingsInsightStrategyBenchmarkingEducationCommunicationUBrand Finance Nordic 150 5Brand Finance InstituteBrand Finance Institute is t
10、he educational division of Brand Finance,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 fo
11、r marketing excellence and with the purpose 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 fiel
12、d.Brandirectory is the worlds largest 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 across publicatio
13、ns and over time+Use interactive charts to compare brand values across 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
14、communications strategies to create dialogue 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 brand
15、s and brands with a geographical indication(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
16、.VI360 provide straightforward and practical brand management that results in tangible benefits for your business.BGlobal 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 consecuti
17、ve year conducting the studyVisit or email enquiriesbrandfi Brand Finance Nordic 150 7David Haigh Chairman&CEO,Brand FinanceForeword.Brand valuation helps companies understand the value of their brand and how it contributes to the overall value of the company.This important understanding can inform
18、decision-making related to marketing and branding efforts,as well as provide a benchmark for future performance.It can also be used to help attract investors and secure financing,as a strong brand can be a valuable asset.Additionally,brand valuation can be useful in the event of a merger or acquisit
19、ion,as it can help determine the value of the brand being acquired.Overall,brand valuation helps organisations understand the worth of their brand and how it fits into their overall business strategy.A strong brand can lead to improved business returns in several ways.First,a strong brand can help a
20、 company differentiate itself from its competitors and establish a unique identity in the market,which can lead to increased customer loyalty and retention.This,in turn,can lead to higher sales and revenue.A strong brand can also help a company command a higher price for its products or services,as
21、consumers are willing to pay more for a brand they perceive as high-quality and trustworthy.In addition,a strong brand can help a company attract top talent,as employees may be more attracted to work for a well-known and reputable brand.Finally,a strong brand can provide a company with a competitive
22、 advantage and help it weather economic downturns or industry disruptions.This year,Brand Finance has invested more in researching and understanding customer perception of brands across the world than ever before,with original research taking place in dozens of jurisdictions globally.The report you
23、are reading is based on this extensive original research,with the findings representing a catalyst for further conversations.If you want to help build a stronger brand,or if you want to better understand the value of your brand,please contact the Brand Finance team and I anytime.I look forward to th
24、e conversation and helping to build a more profitable future for your brand.Brand Finance Nordic 150 8IKEA is reigning champion of Nordic brands but contends with declining brand strength.+Swedish giant IKEA retains title of most valuable Nordic brand,valued at EUR15.4 billion,despite decline in bra
25、nd strength+ICA becomes Nordics strongest brand,followed by Elisa,both with esteemed AAA rating+Zyn,Oatly,and Aker BP are fastest-growing Nordic brands,all more than doubling in value +Finlands Valio milks an impressive Sustainability Perceptions Score,rated 6.4 out of 10+Nordic countries Soft Power
26、 performances improveRanking Analysis.Brand Finance Nordic 150 10Ranking Analysis.Swedish giant IKEA retains title of most valuable Nordic brand,valued at EUR15.4 billion,despite decline in brand strengthIKEA(brand value up 2%to EUR15.4 billion)has continued on its unbroken run as the most valuable
27、Nordic brand.Fellow Swedish brand,Volvo(brand value down 31%to EUR8.5 billion)drops two positions in the ranking,paving the way for Norwegian Oil&Gas giant Equinor(brand value up 57%to EUR12.6 billion)to take second place.IKEA has achieved a marginal 2%year-on-year brand value increase,taking its br
28、and value to EUR15.4 billion.The global home furnishing brand achieved an uplift in revenues despite relatively flat volumes as it implemented price hikes to offset inflation and supply chain issues.Nonetheless,2023 saw IKEA expand its retail operations,becoming available in markets including Estoni
29、a,Oman,Philippines,Puerto Rico,and South America.In addition to global expansion,IKEA has also continued to take steps towards opening more city-centre stores in a bid to improve in-store visits and encourage consumer loyalty.In addition to calculating brand value,Brand Finance also determines the r
30、elative strength of brands through a balanced scorecard of metrics evaluating marketing investment,stakeholder equity,and business performance.Compliant with ISO 20671,Brand Finances assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in 38 count
31、ries and across 31 sectors.Research by Brand Finance found decisions surrounding price hikes to have a softening of customer perceptions towards the brand,notably in terms of value for money,familiarity,and reputation.Consequently,although IKEAs brand value remains top-ranked,its BSI(Brand Strength
32、Index)saw a 4-point drop,demoting it to an AA+rating and overall BSI ranking of 10th.Swedish brands no longer hold the top three spots in the ranking as Equinor overtakes Volvo and H&M(brand value down 17%to EUR9.1 billion)to become the second most valuable Nordic brand.Equinors success is due to it
33、s strong operational and financial performance this past year.Powered by innovation,Equinor has continued its path towards becoming a broad energy provider.In early 2023,Equinor announced its strategic partnership with German-based RWE to further strengthen the European energy supply line and repres
34、ents Equinors ambitious plans to switch to secure hydrogen-capable alternatives.This has resonated well with stakeholders,along with the brands enhanced position on the stock market and overall market recovery.However,price hikes have negatively impacted stakeholder perceptions in terms of value for
35、 money.Brand Finance Nordic 150 11Ranking Analysis.Top 10 Most Valuable Nordic Brands 6+38%EUR7.2 bn7 7+71%EUR7.1 bn11 8+19%EUR6.5 bn6 99EUR4.9 bn+7%108EUR4.3 bn-7%1+2%EUR15.4 bn1 3-17%EUR9.1 bn3 42EUR8.5 bn-31%55EUR7.5 bn-2%2+57%EUR12.6 bn4 Brand Finance Plc 20232210100102IKEA has been unbeatable f
36、or 11 years.The brand has sought to support its position in what continues to be a challenging business environment by implementing price hikes,but the negative impact on consumer perceptions does present some difficulties for the brand.IKEA now needs to address consumers concerns by improving brand
37、 communication to regain trust and equity,and prove it remains the leading affordable home furnishings and solutions provider.Anna Brolin Managing Director,Brand Finance NordicsAnna Brolin Managing Director Nordics,Brand FinanceBrand Finance Nordic 150 12ICA becomes Nordics strongest brand,followed
38、by Elisa,both with esteemed AAA ratingICA(brand value up 37%to EUR1.7 billion)has become the strongest Nordic brand with a BSI of 89 out of 100 and a AAA rating.A high brand loyalty score and positive consumer perceptions relating to ICAs quality,range of products and usage,has propelled its BSI sco
39、re by 15 points.Further,ICAs improved brand value and BSI is not least due to its focus on sustainability.Such a focus was vindicated when ICA recently won the United Nations climate award.Additionally,ICA is the first Nordic grocery player to have signed an agreement with IDH,The Sustainable Trade
40、Initiative,bolstering its stance as a brand committed to sustainable practices.In supporting consumers sustainable choices,ICA also provides a wide range of ethically sourced and labelled products.Top 10 Strongest Nordic Brands89.2+14.8 1AAA2886.9+9.6 3AAA1685.9-1.6 41AAA85.3+11.1 531AAA81.7+15.0 6A
41、AA-8086.9+1.3 2AAA280.6-2.3 7AAA-580.1-1.6 8AAA-779.9-1.8 96AAA-79.0-4.1 104AA+Brand Finance Plc 20232211112120Ranking Analysis.Close behind ICA,Finnish telecoms brand Elisa (brand value up 14%to EUR1.4 billion)maintains its position as the second strongest Nordic brand,with a BSI of 87 out of 100 a
42、nd AAA rating.In its 140th year,the brand has continued to roll out its 5G network across Finland and Estonia as customers responded well to the newest technology.It also achieved record-breaking 5G speeds in Finland,in partnership with Nokia(brand value down 2%to EUR7.5 billion)and Qualcomm,ensurin
43、g high performance and speed service to consumers.In its communication to stakeholders,Elisa has also emphasised its brand mission going forward which includes aiming to power approximately half of its Finnish mobile networks electricity needs through sustainable power.It has also expanded utilisati
44、on of waste heat from its datacentres in district heat production.In combination with Elisas long and successful history in Finland,this has allowed the brand to build a strong level of brand equity and contributed to its impressive brand strength.Brand Finance Nordic 150 13Ranking Analysis.Brand Va
45、lue Change 2022-2023(%)228%179%130%110%71%66%58%57%57%52%-51%-51%-41%-31%-20%-19%-18%-17%-15%-15%Brand Finance Plc 2023Zyn,Oatly,and Aker BP are fastest-growing Nordic brands,all more than doubling in value Zyn(brand value up 228%to EUR827 million),Oatly(brand value up 179%to EUR429 million)and Aker
46、BP(brand value up 130%to EUR2.7 billion)are the three fastest-growing Nordic brands in 2023.Zyn boasts the largest rank hike of all Nordic brands,climbing 67 places in the ranking.Zyn is a sub-brand of Swedish Match that was one of the pioneers in the tobacco-free nicotine pouch market.The brand is
47、now a domestic market success story,and future growth is likely to emanate from export markets.The global nicotine pouch market is forecasted to grow by 31%annually until 2028,and with Zyn already a dominant brand in the USA further growth is likely.Towards the end of 2022,Philip Morris acquired nea
48、rly 83%of Swedish Match,with the aim to create a global smoke-free champion.The acquisition is expected to provide Zyn with the resources and market access needed to continue to grow its brand value in the fast-growing nicotine pouch market.Second-fastest growing Nordic brand Oatlys BSI score also e
49、xperienced impressive 9-point increase.As one of the first brands to successfully market oat milk as a dairy alternative,Oatly continues to capitalise on growing consumer demand for plant-based products.The brand has garnered attention and further brand awareness through its unique approach to brand
50、ing,such as in 2022 when Oatly launched its“The New Norm&Al Show”campaign,playing on the idea that environmentally friendly,focussed brands are becoming the“new normal”through humorous puppet displays.Oatlys brand value and brand strength growth has been further bolstered by partnerships which have
51、increased brand visibility.Brand Finance Nordic 150 14Ranking Analysis.More recently,in 2023,Oatly partnered with Espresso House the Nordics largest coffee chain.This partnership has placed Oatly in front of broader audiences,offering even more consumers the opportunity to try the brands products an
52、d reduce their individual climate impact.Norwegian Oil&Gas brand,AkerBPs impressive brand value increase saw it climb 20 places in the ranking.This is in connection with its acquisition of Lundin Energys exploration and production business and resulting improved market share.This exponential growth
53、means AkerBP has become the second largest brand operating on the Norwegian Continental Shelf.In turn,AkerBPs improved financial performance due to increased revenues have contributed to this impressive brand value growth.Looking ahead,AkerBP can expect significant increases in production as it plan
54、s to invest approximately EUR13 billion in development projects.This is likely to further add to future brand value growth.Another brand which has seen notable brand value growth is Denmarks Maersk(brand value up 71%to EUR7.1 billion).The globally integrated logistics brand achieved record revenues
55、this past year,with forecasts increasing in a similar manner.Maersk has expanded its air cargo business,now offering direct flights between Korea,China and the US.These services will connect manufacturing and commercial hubs in eastern China with those in the US East Coast and Mid-West,amongst other
56、 key routes.It has also acquired LF Logistics,the brands most consequential acquisition to date,further enhancing its footprint in Asia.Moreover,this places Maersk just one rank below Lego(brand value up 38%to EUR7.2 billion),making next years race for Denmarks top spot a close one.Brand Finance Nor
57、dic 150 15Ranking Analysis.Sustainability Perception Values(SPV)64.27EUR515 m 74.27EUR409 m 83.98EUR368 m 9EUR366 m4.75 10EUR315 m3.77 14.79EUR1,110 m 33.94EUR776 m 4EUR691 m4.00 5EUR593 m4.22 24.53EUR1,097 m Brand Finance Plc 2023EURxx=sustainability perceptions valuex.x=sustainability perceptions
58、score/10Finlands Valio milks an impressive Sustainability Perceptions Score,rated 6.4 out of 10As part of its analysis,Brand Finance assesses the role that specific brand attributes play in driving overall brand value.One such attribute is sustainability.Brand Finance assesses how sustainable specif
59、ic brands are perceived to be,represented by a Sustainability Perceptions Score.The value that is linked to sustainability perceptions,the Sustainability Perceptions Value,is then calculated for each brand.Food brand Valio(brand value up 13%to EUR1.4 billion)has the highest Sustainability Perception
60、s Score in the ranking-6.4 out of 10.As Finlands biggest exporter of food products,Valio has sustainability at the forefront of its communication with stakeholders.Owned by 4,000 dairy farms through cooperatives that supply raw milk to Valio,the brand has worked towards supplying more sustainable fo
61、od options,while also supporting the communities and areas that it works in.This has built a strong sustainability perception amongst stakeholders and contributed to its positive performance in this metric in the ranking.Brand Finance Nordic 150 16Ranking Analysis.Nordic countries performances impro
62、ve Of the 121 countries included in Brand Finances Global Soft Power Index 2023,Sweden(11th)climbed three places since last years ranking,Norway(17th)and Denmark(18th)each maintained their rankings,and Finland(22nd)and Iceland(34th)also climbed three ranks.Despite their relatively small economies on
63、 the global stage,Nordic countries performed strongly in terms of perceived“Business&Trade”.In addition,all Nordic countries ranked in the top fifteen for“Sustainable Future”:Sweden 3rd,Norway 5th,Denmark 9th,Finland 10th,and Iceland 15th,indicative of Nordic countries leading position in sustainabl
64、e development.These two elements are viewed favourably by the world as important factors for shaping the future of nation branding.Brand Finance Nordic 150 17Brand Value Ranking(EURm).Top 150 most valuable Nordic brands 1-502023 Rank2022 RankBrandCountrySector2023 Brand ValueBrand Value Change2022 B
65、rand Value2023 Brand Rating2022 Brand Rating110IKEASwedenRetail15,353+2.2%15,026AA+AAA-242EquinorNorwayOil&Gas12,626+56.7%8,056AAA-AAA-330H&MSwedenApparel9,089-17.0%10,955AAAA+421VolvoSwedenAutomobiles8,466-30.7%12,226AA-AA550NokiaFinlandTech7,543-2.5%7,734AAAA672LegoDenmarkToys7,174+38.1%5,196AAAAA
66、A7112MaerskDenmarkLogistics7,149+71.3%4,174AA+AA861SpotifySwedenMedia6,462+18.5%5,452AAAA990NordeaSwedenBanking4,910+7.3%4,575AAAA+1081TelenorNorwayTelecoms4,308-7.0%4,634AAAA+11101TeliaSwedenTelecoms12152VattenfallSwedenUtilities13121DSVDenmarkLogistics14131ArlaDenmarkFood15182DNBNorwayBanking16212
67、VestasDenmarkEngineering&Construction17252Novo NordiskDenmarkPharma18292SecuritasSwedenCommercial Services19222NesteFinlandOil&Gas20161ScaniaSwedenAutomobiles21412AkerBPNorwayOil&Gas22191SwedbankSwedenBanking23272Atlas CopcoSwedenEngineering&Construction24171EricssonSwedenTech25141SkanskaSwedenEngin
68、eering&Construction26352rstedDenmarkUtilities27241SEBSwedenBanking28201Svenska HandelsbankenSwedenBanking29312K GroupFinlandRetail30-3PolestarSwedenAutomobiles31281Danske BankDenmarkBanking32231SandvikSwedenEngineering&Construction33261KoneFinlandEngineering&Construction34301PandoraDenmarkApparel353
69、92ICASwedenRetail36-3Lery SeafoodNorwayFood37321CarlsbergDenmarkBeers38432DanfossDenmarkEngineering&Construction39341ISSDenmarkCommercial Services40381ValioFinlandFood41371IfSwedenInsurance42331SKFSwedenEngineering&Construction43401ElisaFinlandTelecoms44562WillysSwedenRetail45361Tele2SwedenTelecoms4
70、6-3KLP NorwayInsurance47441AbsolutSwedenSpirits48461UPMFinlandEngineering&Construction49502EssitySwedenHousehold Products50481Stora EnsoFinlandEngineering&ConstructionBrand Finance Nordic 150 18Top 150 most valuable Nordic brands 51-100Brand Value Ranking.2023 Rank2022 RankBrandCountrySector2023 Bra
71、nd ValueBrand Value Change2022 Brand Value2023 Brand Rating2022 Brand Rating51421PeabSwedenEngineering&Construction52491HexagonSwedenTech53511Coop DanmarkDenmarkRetail54531Assa AbloySwedenEngineering&Construction55572Metso OutotecFinlandEngineering&Construction56-3ASKONorwayLogistics57652NettoDenmar
72、kRetail58471SystembolagetSwedenRetail59-3EQTSwedenBanking60541Alfa LavalSwedenEngineering&Construction61521ColoplastDenmarkPharma62782FortumFinlandUtilities63742GjensidigeNorwayInsurance64591SupercellFinlandMedia65672TrygDenmarkInsurance66551TuborgDenmarkBeers67772YaraNorwayChemicals68641Sparebank G
73、roupNorwayConglomerates69601AutolivSwedenAuto Components701372ZynSwedenTobacco71752NIBESwedenEngineering&Construction72-3WoltFinlandLogistics73762TietoEvryFinlandTech74611Rema 1000NorwayRetail75681Scandic HotelsSwedenHotels76621KlarnaSwedenBanking77711JotunNorwayChemicals78862IFSSwedenTech79790Fazer
74、FinlandFood80721NykreditDenmarkBanking81691Danica PensionDenmarkInsurance82912HydroNorwayMining,Metals&Minerals83581ElectroluxSwedenTech84882SAABSwedenAerospace&Defence85-3KIWI mini prisNorwayRetail861022Jyske BankDenmarkBanking87731StorebrandNorwayInsurance88661OriflameSwedenCosmetics89841Den Grnne
75、 SlagterDenmarkFood90871WARTSILAFinlandEngineering&Construction91-3MOWINorwayFood92801KONECRANESFinlandEngineering&Construction93962HuhtamakiFinlandCommercial Services941192BILLERUDSwedenLogistics95941ROCKWOOLDenmarkEngineering&Construction961362Evolution GamingSwedenLeisure&Tourism97851AF GRUPPENNo
76、rwayEngineering&Construction98931KongsbergNorwayAerospace&Defence99891BiliaSwedenRetail100951Husqvarna GroupSwedenEngineering&ConstructionBrand Finance Nordic 150 19Top 150 most valuable Nordic brands 101-150Brand Value Ranking.2023 Rank2022 RankBrandCountrySector2023 Brand ValueBrand Value Change20
77、22 Brand Value2023 Brand Rating2022 Brand Rating101991PreemSwedenOil&Gas102451NCCSwedenEngineering&Construction1031001SanomaFinlandMedia104811TRELLEBORGSwedenEngineering&Construction105981DNAFinlandTelecoms1061092TulipDenmarkFood1071011ECCODenmarkApparel108-3Wallenus WilhelmsenNorwayLogistics1091182
78、AAKSwedenFood1101041DFDS SeawaysDenmarkLogistics111831Dometic GroupSwedenLeisure&Tourism112971GNDenmarkTech1131081PrismaFinlandRetail1141051LurpakDenmarkFood1151121NuudayDenmarkTelecoms1161172CHR HansenDenmarkFood117901YITFinlandEngineering&Construction1181101LoomisSwedenCommercial Services119631S-M
79、arketFinlandRetail120921Danish CrownDenmarkFood1211061EpirocSwedenEngineering&Construction122-3OatlySwedenFood1231221ElkjpNorwayRetail1241131OutokumpuFinlandMining,Metals&Minerals1251141VeidekkeNorwayEngineering&Construction1261161BolidenSwedenMining,Metals&Minerals127-3Vr EnergiNorwayOil&Gas1281031
80、IntrumSwedenBanking1291111ViaplaySwedenMedia1301231NetcompanyDenmarkTech1311211TenaSwedenHousehold Products1321311NovozymesDenmarkPharma1331251ALKOFinlandRetail1341442Mandatum LifeFinlandInsurance1351341SSABSwedenMining,Metals&Minerals1361271Capio ABSwedenHealthcare Facilities1371422GenmabDenmarkPha
81、rma1381291FotexDenmarkRetail1391201Lansforsakringar BankSwedenBanking1401151GetingeSwedenPharma1411472Norwegian AirNorwayAirlines1421381Austevoll SeafoodNorwayFood1431301PER AarsleffDenmarkEngineering&Construction144-3SalmarNorwayFood145-3AteaNorwayTech1461411FinnairFinlandAirlines147821TopdanmarkDe
82、nmarkInsurance1481351betssonSwedenLeisure&Tourism1491431FinlandiaFinlandSpirits150-3CyientSwedenTechBrand Spotlight.Brand Finance Nordic 150 21Equinor.Rank Brand Strength Rank Brand ValueEUR12.6 bn+57%280.6-2.37 zBrand Finance Nordic 150 22Interview with Anniken Haugen Jebsen.Anniken Haugen Jebsen V
83、ice President Brand&Engagement,Equinor ASAEquinors ambition is to become a net-zero energy company by 2050.Please tell us:what activities will take you there and what that will mean for the growth of your brand?Equinor has a clear ambition to become a leading company in the energy transition.We will
84、 continue supplying society with the energy it needs with lower emissions over time and reach net zero by 2050.And we have a plan for that.Our Energy Transition Plan focuses on the current decade,because significant change must take place by 2030 for the world to be able to limit climate change.In s
85、hort,the plan outlines the measures that will allow us to deliver on the net-zero ambition.The path that leads us there runs through three strategically important areas for Equinor:oil and gas,renewables,and low-carbon solutions.These areas are interconnected and must work together for us to reach o
86、ur goal.The brand is key to our ambition of being a leading company in the energy transition.By building a position as an energy company searching for better,we use our brand to attract the right candidates to work for us,to engage the right partners to collaborate for the solutions we need in the f
87、uture,and to gain the stakeholder support needed to secure our license to operate in an increasingly complex energy industry.What role does sustainability play in helping Equinor build its brand?Sustainability is at the core of everything we do.Our journey to develop as a broad energy company is fou
88、nded on a strong commitment to sustainability.We support the Paris Agreement and the UN Sustainable Development Goals.Were cutting emissions from our oil and gas activities and investing ambitiously in renewables and low carbon solutions.We know that we are part of the climate problem,but we also st
89、rongly believe that we are part of the solution and we will do our part of the job.We deliver energy to millions of people every day.Through our business and supply chain,we create significant economic value and opportunities for society and communities through taxes,jobs,skills,education,innovation
90、 and social impact management.We develop our people and promote diversity and inclusion across our locations.We have a Just Transition plan outlining key principles for how we will have a positive impacts on societies where we operate.All these are also key components to our brand.We are not a green
91、 brand,and will probably never be,but we are determined to be a sustainable brand.Looking forward,what dimensions and strengths of the Equinor brand will contribute to long-term sustainable growth?We celebrated our 50 years anniversary last year,and our view is that we are 50 year young not 50 years
92、 old.We are proud of our history and achievements to date but as an energy company,well keep searching for better.Only then can we be just as relevant in the future,as we were in our past.This attitude will guide our brand and our ambition of being a leading company in the energy transition.Our posi
93、tioning work will be built on key insights that drives credibility and position.How we use technology and innovation to help solve the climate challenge will be at the core,whilst an increasingly complex and challenging energy debate also demands from a company like ours that we speak with a clear v
94、oice on the challenges and dilemmas of the energy transition.Brand Finance Nordic 150 23ICA.D Rank Brand Strength Rank Brand ValueEUR1.7 bn+37%3589.2+14.81Brand Finance Nordic 150 24Interview with Josefin Lundmark.Josefin LundmarkMarketing Director,ICA SwedenOur analysis shows that an important reas
95、on for ICAs brand strength is your focus on sustainability,something that your customers value.You have also won several prestigious prizes in the field of sustainability,including a UN climate prize.Tell us how you work with sustainability and what you prioritise most in the area?Every week,ICA Gru
96、ppen meets 16 million customers in stores and pharmacies where we work to make peoples every day a little easier.The fact that people perceive ICA as a sustainable brand is a testament to our long-term focus on sustainability.Sustainability includes many things,such as health,environmental and clima
97、te issues,and diversity.We want to take our responsibility seriously as a company,at the same time as we want to make it easy for customers to make their own sustainable choices.To reach our goals,we work actively and with a long-term focus within the areas of local,environment,health,inclusion and
98、diversity,and quality,which come together under the concept we have named“For A Good Tomorrow”.Increased mortgage rates,record high energy prices and more expensive food prices mean many of your customers are understandably worried about the future.How has it affected ICAs customer relationship and
99、what strategies do you have to maintain customer loyalty during these troubled times?Together with approximately 1,300 ICA stores in Sweden,we work every day to be affordable for our customers and ensure that all our customers can afford to put good food on the table.Showing how we care about ICAs c
100、ustomers is especially important in times of economic uncertainty and when the situation of many customers is deteriorating.I believe that our loyalty program,“Stammis”will play an important role in how we help our customers going forward.Not only will they receive direct advantages thought the Stam
101、mis program,but we will also gain a better understanding of our customers needs and therefore be able to create even better and more relevant offers.Looking forward,what dimensions and strengths of the ICA brand will contribute to long-term sustainable growth?Being personal and present,whilst listen
102、ing to our customers is something we at ICA do every day.We will make every day a little easier,constantly meeting our customers needs,preferably with a twinkle in our eye.We do this,among other things,by continuing to develop our Stammis loyalty program,through store openings and through ICAs priva
103、te label products,which give customers increased value and contribute to a unique assortment.Taking social responsibility seriously is an obvious part of the ICA idea,which involves,among other things,contributing to society and a vibrant countryside,as well as safeguarding a viable and sustainable
104、Swedish agriculture and local food producers,issues that we know are important to ICAs customers.Methodology.Brand Finance Nordic 150 26Enterprise ValueBranded Business ValueBrand ContributionDefinitions.MetaFacebookFacebookFacebookBrand Value+Enterprise Value The value of the entire enterprise,made
105、 up of multiple branded businesses.Where a company has a purely mono-branded architecture,the enterprise 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 busines
106、s in which it operates.Brand Finance always conducts a branded business valuation as part of any brand valuation.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 i
107、n shareholder value that the business derives from owning the brand rather than operating a generic brand.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
108、to a business provides additional insights to help optimise performance.+Brand Value The value of the trade 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-
109、related intangible asset including,but not limited to,names,terms,signs,symbols,logos,and designs,intended to identify goods,services or entities,creating distinctive images and associations in the minds of stakeholders,thereby generating economic benefits.Brand ValueBrand Finance Nordic 150 27Brand
110、 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 to the entity.Brand ValueBrand value refers to the present value of earnings
111、 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 differ.As a result published brand values can be different.These differenc
112、es 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 incorporates a review of what users of brands actually pay for the use of brands i
113、n 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 it is grounded in reality.It is the basis for a public rankings but we alw
114、ays 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 independent and unbiased analysis.The values derived and opinions produced i
115、n 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 event that the publicly available information relied upon is subsequently found
116、 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 excludes all liability to any body,government or organisation.We review what
117、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 sector for brands(for example a range of 0%to 2%of revenue)The BSI score is appl
118、ied 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 sector will be 4%.We adjust the rate higher or lower for brands by analysing B
119、rand 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 other data partners;“Output”which are brand-related performance measures s
120、uch 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 similar to a credit rating.We determine brand-specific revenues as a propor
121、tion 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 forecast revenues to derive brand revenues and apply the relevant valuation assump
122、tions to arrive at a discounted,post-tax present value which equals the brand value.Brand ImpactBrand Impact Brand StrengthBrand StrengthForecast Brand Value CalculationBrand Finance Nordic 150 28Brand StrengthAnalytical rigour and transparency are at the heart of our approach to brand measurement a
123、t 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,leading to brand awareness,perceptions and onwards to brand-influenced customer behaviour.To manage t
124、he 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 Value Chain:Brand Inputs,Brand Equity and Brand Performance.Brand Strength.132Although we follow a gener
125、al 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 lu
126、xury 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 followi
127、ng 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 purchase
128、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 bran
129、ds 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 future
130、 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 overcom
131、e 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 of
132、 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,whic
133、h 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 ScoringBrand St
134、rength 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 measures representing the success of the brand in achieving price
135、 and volume premium.Stakeholder EquityBusiness PerformanceMarketing InvestmentBrand Finance Nordic 150 29Global 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 Usa
136、ge3.Quality4.Reputation5.Loyalty6.Closeness9.Brand Imagery7.Recommendation(NPS)10.Advertising Awareness8.Word of Mouth11.Brand MomentumAwarenessHave heard of your brandFamiliarityKnow something about your brandConsiderationWould consider buying/using your brandApparelAutomobilesLuxury AutomobilesBan
137、ksCosmetics&Personal CareFoodInsuranceOil&GasRestaurantsRetail&E-CommerceTelecomsUtilitiesAirlinesLuxury ApparelAppliancesBeersLuxury CosmeticsGeneral RetailHealthcare ServicesApparelHousehold ProductsLogisticsMediaPharmaReal EstateSoft DrinksSpirits&WineTechnologyTyresTier 1Tier 2Brand Finance Nord
138、ic 150 30Highlights 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 especia
139、lly 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 bra
140、nd 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 outstan
141、ding 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 this p
142、owerful 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 community”
143、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 the c
144、oolest 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 Non
145、-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 Brand Finance Nordic 150 31Highlights from the Global Brand Equity Monitor.Similarly in the apparel category(especially footw
146、ear),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-mouth(WOM)is another key asset some brands
147、 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 number of challenger brands who look set
148、 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 Finance Plc 2023Our Services.Brand Finance
149、Nordic 150 33Consulting 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 finance teams they provide structure for both to work together to maximis
150、e 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 financial returns.Make branding decisions using hard dataBrand ResearchWhat
151、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 avoiding the areas of weakness,measuring your brand is the only way to manage
152、 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+Investor Reporting+Brand Positioning +Brand Architecture+Franchising&Lice
153、nsing +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 existing brand tracker?+What do different stakeholders think of my brand?
154、+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 positioning do customers value most?+What are our best brand extension opportuni
155、ties in 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 my business?Brand Finance Nordic 150 34Brand Evaluation Services.How
156、 are brands perceived in my category?Brand Finance tracks brand fame and perceptions 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 covera
157、ge 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 30-country database of brand KPIs enables us to benchmark performance appropriately.Do I h
158、ave 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 architectures is tested through drivers analysis,to determine which option(s)will stimulate the
159、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 and brand investment frameworks to improve return on marketing investment.What about the s
160、ocial 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 sentiment,by combining traditional survey measures with best-in-class social listening.With
161、 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 across PR and marketing activations,to deliver strategic campaigns,helping us to establish an
162、d sustain strong client relationships.We also have a specific focus on geographic 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 StrategyCamp
163、aign PlanningMarket Research&InsightsMedia AnalysisPublic Relations&CommunicationsMedia RelationsPress Trips&EventsStrategic Partnerships&Influencer OutreachSocial Media ManagementMarketing&EventsPromotional EventsConference ManagementNative AdvertisingRetail MarketingContent CreationBespoke Publica
164、tions,Blogs&NewslettersPress ReleasesMarketing Collateral DesignSocial Media ContentStrategic Communications Crisis CommunicationsBrand Positioning&ReputationGeographic BrandingCorporate Social Responsibility(CSR)Brand Finance Nordic 150 36Brand Finance Network.For further information on our service
165、s and valuation experience,please contact your local representative:Market ContactEmailAfricaJeremy Sampsonj.sampsonbrandfi Asia Pacifi cAlex Haigha.haighbrandfi AustraliaMark Crowem.crowebrandfi BrazilEduardo Chavese.chavesbrandfi CanadaLaurence Newelll.newellbrandfi China Scott Chens.chenbrandfi E
166、ast Africa 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 Campb
167、ella.campbellbrandfi 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.hussainbrandfi SwedenAnna Brolina.brolinbrandfi TurkeyMuhterem Ilgnerm.ilgunerbrandfi United KingdomAnnie Browna.brownbrandfi USALaurence Newelll.newellbrandfi VietnamQuyen Luongq.luongbrandfi Contact us.The Worlds Leading Brand Valuation ConsultancyT:+44(0)20 7389 9400E: