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Sixth Annual Study Shows Overall Decline in Consumer Sentiment and Confidence
The Financial Services Sector Continues to Reel from the Recovering Economy
NEW YORK, March 6, 2013 /PRNewswire/ -- CoreBrand, a leading full-service brand consultancy and creator of the Corporate Branding Index®, which provides continuous benchmarking data, insights and corporate brand valuation for more than 1,000 companies, across 54 industries, released today its Sixth Annual Top 100 BrandPower Rankings Report, which ranks 100 corporate brands in terms of market reputation and awareness.
"The most interesting trend we saw for 2012 was a general decline in companies' favorability scores, which measures overall reputation, perception of management, and investment potential," commented James R. Gregory, founder and CEO of CoreBrand. "We found that in the current climate, consumers are evaluating corporate brands more harshly, and these brand criticisms are being amplified with the proliferation of social media and the 24-hour news cycles. Now more than ever, companies need to improve the quality of their messages to the marketplace and focus on rebuilding trust."
Mr. Gregory added, "Equally as interesting, is the fact that we found the top 25 brands may actually be receiving a disproportionate share of the blame for the current economic conditions. In the wake of the financial crisis of 2008, we found that the top 25 brands overall are recovering a bit slower than the lower 75 brands. These brand leaders will need to become more aggressive in their brand management and communications."
CoreBrand's BrandPower Rankings are derived from an annual survey of more than 10,000 business decision-makers from the top 20 percent of U.S. businesses who represent the investment community, potential business partners, and business customers. BrandPower is a measure of size (familiarity) and quality (favorability), familiarity representing whether or not a survey respondent is familiar with the brand and favorability representing the brand's overall reputation, perception of management, and investment potential. BrandPower allows an immediate comparison of the size and quality of a brand to all other brands in the Corporate Branding Index®. The BrandPower Rankings provide a market-view evaluation of corporate brand strength regardless of industry affiliation. To be included in the Top 100 BrandPower Rankings, companies must be considered a corporate brand and have been publicly traded and tracked by CoreBrand for more than five years.
Companies in the CoreBrand Top 100 BrandPower Rankings represent 32 of the 54 industries that CoreBrand tracks. The food and retail industries were each represented by 11 companies in the CoreBrand BrandPower Top 100, and the consumer cyclical sector was represented by 35 companies.
The complete BrandPower Top 100 Rankings Report can be viewed here. CoreBrand is now offering a complimentary brand assessment for any of the more than 1,000 companies included in its Corporate Branding Index® which will evaluate the corporate brand over the past five years.
To schedule an introductory meeting, please visit www.corebrand.com or contact:
Director, Strategic and Business Relations
CoreBrand, an independent branding firm based out of New York City and Los Angeles, specializes in practical and applicable brand research, strategy, identity and management for global companies of all sizes and in all sectors. As the creator of the Corporate Branding Index®, a 22 year old index that provides continuous benchmarking data, insights and corporate brand valuation for over 1,000 companies, across 54 industries, CoreBrand is the only firm that links corporate brand identity to financial performance through data and analysis. With a focus on using brand as a business asset to improve corporate value, CoreBrand creates the measurable difference. To learn more about CoreBrand, please visit http://www.corebrand.com.
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