Industry Leaders Recognise Importance Of Branding

Research by MORI into the attitudes of “Captains of Industry”- board directors of leading British companies- has revealed the perceived importance of strong branding, especially in difficult economic times.

The research, sponsored by Wolff Olins, found that strong brands were recognised by this group as particularly helpful in retaining customers and staying ahead of the competition. In difficult times, a strong global brand, it was felt, would offer a great deal of protection, while in better times, it would help attract and retain suitably qualified and experienced staff.

In fact a strong brand was seen as a better asset in terms of protection from economic downturn than assets including products and services, management team, capital, employees, physical assets and technology. Unfortunately less than a third of respondents thought that their own company’s brand would offer this level of protection, and rely on some of the other assets mentioned above.

Despite this support for the concept of strong branding, only a third of the “Captains of Industry” said that they would actually invest in their own brand to protect against economic downturn. Maximising operational efficiency, tightening cost control and reducing headcount were more popular choices.

Coca-Cola was regarded as the strongest company brand in the world by these UK respondents. It received seven times as many mentions as the next contender, Microsoft. The only other brands mentioned more than once were GE, Mercedes and IBM.

MORI: 020 7347 3000 www.mori.com

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