[Sponsored Report] Brand power sees growth in services

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[Sponsored Report] Brand power sees growth in services

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The National Brand Competitiveness Index (NBCI) this year for domestic brands has seen on a growth of 0.9 point (1.4 percent) to 67.8 points compared to 66.9 points in 2011, reflecting elevated brand powers of local companies.

According to the result of NBCI survey jointly conducted by the Korea Productivity Center and JoongAng Ilbo, some 26 industries among 59 industries have seen their NBCI scores improved on-year. In the products category, tablet PC, airtight container, milk and kimchi refrigerator were among those that showed high NBCI scores and when looking into the results by services sector, online shopping malls, department stores, general hospitals, multiplex theater and large marts boasted high scores. Excluding the 11 new industries that were surveyed this year, more than half of the industries showed a rise in the NBCI score despite the continuing economic woes. The reason behind this improvement in the NBCI score is in part due to the companies’ proactive marketing tactics and development in new technology meeting changing demands.

Two conclusions can be drawn from the 2012 NBCI survey: First, the average NBCI score by product category has stepped down slightly on-year while the average services sector scores have improved. The product category average was 67.8 points this year, a 0.3-point decrease from last year’s 68.1 while services sector score was at 67.8 points in 2012, a 2.1 point increase from 2011’s 65.7 points.

Hit concept items from last year like smartphone, smart TV and tablet PC as well as home appliances, including refrigerator, air-conditioner and laptop, armed with new technologies, tapped into new consumer classes but did not see a continued rise in the purchasing trend. This faltering figure reflects the failure of product innovation in keeping up with the pace of ballooning consumer expectation among other factors unique to high-tech industry: systems glitch in the launching stage; lack of contents available on the new platform; originality in function and performance.

The services sector scored the highest in the NBCI for this year, continuing the trend from last year. The companies’ efforts to offer original marketing efforts seem to be the driving force behind the trend. With the exception to tutor services, all of the industrial sectors showed a rise while four plateaued. Especially in case of multiplex theaters, it has strengthened its image as a multiplex cultural space with various cultural facilities to enjoy, stepping away from the conventional movie theater model. In addition, by introducing world’s first five sense theaters, they have continuously shown effort to improve its brand.

Most No. 1 brands from last year except tutor services held on to their post this year. Air-conditioner, CMA, online shopping mall, delivery and general hospitals each shared the top rank with other brands in its industry. All the while the gap between the No. 1 and No. 2 posts held by industries widened.

This can point to a couple of causes: the leading company strengthening its tactics; lingering economic problems leading to reluctance of consumers in trying a new product.

By Lee Ji-hyun [concordia@joongang.co.kr]

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