Restaurants 25 2017 - Brand Finance
Restaurants252017The annual report on the world’s most valuable restaurants brandsMarch 2017
ForewordContentssteady downward spiral of poor communication,wasted resources and a negative impact on thebottom line.Brand Finance bridges the gap between themarketing and financial worlds. Our teams haveexperience across a wide range of disciplines frommarket research and visual identity to tax andaccounting. We understand the importance ofdesign, advertising and marketing, but we alsobelieve that the ultimate and overriding purpose ofbrands is to make money. That is why we connectbrands to the bottom line.David Haigh, CEO, Brand FinanceWhat is the purpose of a strong brand; to attractcustomers, to build loyalty, to motivate staff? Alltrue, but for a commercial brand at least, the firstanswer must always be ‘to make money’.Huge investments are made in the design, launchand ongoing promotion of brands. Given theirpotential financial value, this makes sense.Unfortunately, most organisations fail to go beyondthat, missing huge opportunities to effectively makeuse of what are often their most important assets.Monitoring of brand performance should be thenext step, but is often sporadic. Where it does takeplace it frequently lacks financial rigour and isheavily reliant on qualitative measures poorlyunderstood by non-marketers.As a result, marketing teams struggle tocommunicate the value of their work and boardsthen underestimate the significance of their brandsto the business. Skeptical finance teams,unconvinced by what they perceive as marketingmumbo jumbo may fail to agree necessaryinvestments. What marketing spend there is canend up poorly directed as marketers are left tooperate with insufficient financial guidance oraccountability. The end result can be a slow but2.Brand Finance initions4Methodology6Executive Summary8Full Table - Restaurants 25 (USDm)11Understand Your Brand’s Value12How We Can Help14Contact Details15By valuing brands, we provide a mutually intelligiblelanguage for marketers and finance teams.Marketers then have the ability to communicate thesignificance of what they do and boards can usethe information to chart a course that maximisesprofits.Without knowing the precise, financial value of anasset, how can you know if you are maximising yourreturns? If you are intending to license a brand, howcan you know you are getting a fair price? If you areintending to sell, how do you know what the righttime is? How do you decide which brands todiscontinue, whether to rebrand and how to arrangeyour brand architecture? Brand Finance hasconducted thousands of brand and brandedbusiness valuations to help answer these questions.Brand Finance’s recently conducted share pricestudy revealed the compelling link between strongbrands and stock market performance. It was foundthat investing in the most highly branded companieswould lead to a return almost double that of theaverage for the S&P 500 as a whole.Acknowledging and managing a company’sintangible assets taps into the hidden value that lieswithin it. The following report is a first step tounderstanding more about brands, how to valuethem and how to use that information to benefit thebusiness. The team and I look forward to continuingthe conversation with you.Brand Finance Restaurants 25 March 20173.
��Brand’Contribution’‘BrandValue’Effect of a Brand on StakeholdersDefinitionsE.g. Enterprise Value – the value of theYum!Brands inc. entire enterprise, made up ofmultiple branded Customers Branded Business Value – theE.g.value of a single branded businessTaco Belloperating under the subject brand Brand Contribution– The totalE.g.economic benefit derived by aTaco Bellbusiness from its brandDirectorsAll OtherEmployeesInfluencerse.g. MediaBrandProductionTradeChannels Brand Value – the value of theE.g.trade marks (and relatingTaco Bellmarketing IP and ‘goodwill’attached to it) within the brandedbusinessSalesStrategicAllies &SuppliersInvestorsDebtprovidersBranded Business ValueBrand ContributionBrand ValueBrand StrengthA brand should be viewed in the context of thebusiness in which it operates. For this reasonBrand Finance always conducts a BrandedBusiness Valuation as part of any brand valuation.Where a company has a purely mono-brandedarchitecture, the business value is the same asthe overall company value or ‘enterprise value’.The brand values contained in our league tablesare those of the potentially transferable brandasset only, but for marketers and managersalike, an assessment of overall brand contributionto a business provides powerful insights to helpoptimise performance.In the very broadest sense, a brand is the focusfor all the expectations and opinions held bycustomers, staff and other stakeholders about anorganisation and its products and services.However, when looking at brands as businessassets that can be bought, sold and licensed, amore technical definition is required.Brand Strength is the part of our analysis mostdirectly and easily influenced by thoseresponsibleformarketingandbrandmanagement. In order to determine the strengthof a brand we have developed the BrandStrength Index (BSI). We analyse marketinginvestment, brand equity (the goodwillaccumulated with customers, staff and otherstakeholders) and finally the impact of those onbusiness performance.In the more usual situation where a companyowns multiple brands, business value refers tothe value of the assets and revenue stream of thebusiness line attached to that brand specifically.We evaluate the full brand value chain in order tounderstand the links between marketinginvestment, brand tracking data, stakeholderbehaviour and business value to maximise thereturns business owners can obtain from theirbrands.4.Brand Finance Restaurants 25 March 2017Brand Contribution represents the overall upliftin shareholder value that the business derivesfrom owning the brand rather than operating ageneric brand.Brands affect a variety of stakeholders, not justcustomers but also staff, strategic partners,regulators, investors and more, having asignificant impact on financial value beyondwhat can be bought or sold in a transaction.Brand Finance helped to craft the internationallyrecognised standard on Brand Valuation, ISO10668. That defines a brand as “a marketingrelated intangible asset including, but not limitedto, names, terms, signs, symbols, logos anddesigns, or a combination of these, intended toidentify goods, services or entities, or acombination of these, creating distinctive imagesand associations in the minds of stakeholders,thereby generating economic benefits/value”Following this analysis, each brand is assigneda BSI score out of 100, which is fed into thebrand value calculation. Based on the score,each brand in the league table is assigned arating between AAA and D in a format similarto a credit rating. AAA brands are exceptionallystrong and well managed while a failing brandwould be assigned a D grade.Brand Finance Restaurants 25 March 20175.
MethodologyLeague Table Valuation Methodology1 Calculate brand strength on a scale of 0 to 100 basedon a number of attributes such as emotionalconnection, financial performance and sustainability,among others. This score is known as the BrandStrength Index, and is calculated using brand datafrom the BrandAsset Valuator database, the world’slargest database of brands, which measures brandequity, consideration and emotional imageryattributes to assess brand personality in a categoryagnostic manner.Brand strengthindex(BSI)BrandinvestmentBrand‘Royalty rate’Strong2 Determine the royalty rate range for the respectivebrand sectors. This is done by reviewing comparablelicensing agreements sourced from Brand Finance’sextensive database of license agreements and otheronline databases.3 Calculate royalty rate. The brand strength score isapplied to the royalty rate range to arrive at a royaltyrate. For example, if the royalty rate range in a brand’ssector is 1-5% and a brand has a brand strengthscore of 80 out of 100, then an appropriate royaltyrate for the use of this brand in the given sector willbe 4.2%.4 Determine brand specific revenues estimating aproportion of parent company revenues attributableto a specific brand.5 Determine forecast brand specific revenues using afunction of historic revenues, equity analyst forecastsand economic growth rates.6 Apply the royalty rate to the forecast revenues toderive brand revenues.7 Brand revenues are discounted post tax to a netpresent value which equals the brand value.Brand revenuesBrand valuebrandBrandequity6.1Brand EquityValue ributionBrand AuditTrial & PreferenceAcquisition &RetentionValuation ModellingAudit the impactof brandmanagement andinvestment onbrand equityRun analytics tounderstand howperceptions link tobehaviourLink stakeholderbehaviour withkey financialvalue driversModel the impact of behaviour oncore financial performance andisolating the value of the brandcontributionHow We Help to Maximise Value6. Build scale through licensing/franchising/partnerships5. Build core business through market expansion4. Build core business through product development3. Portfolio management/rebranding Group companies2. Optimise brand positioning and strengthBrandperformanceBrand strengthexpressed as a BSIscore out of 100.InputsMaximising a strong brandBrand Finance calculates the values of thebrands in its league tables using the ‘RoyaltyRelief approach’. This approach involvesestimating the likely future sales that areattributable to a brand and calculating a royaltyrate that would be charged for the use of thebrand, i.e. what the owner would have to pay forthe use of the brand—assuming it were notalready owned.The steps in this process are as follows:Brand Finance Typical Project ApproachWeakbrandBSI score applied to anappropriate sectorroyalty rate range.Brand Finance Restaurants 25 March 2017Forecast revenuesRoyalty rate applied toforecast revenues toderive brand values.Post-tax brandrevenues arediscounted to a netpresent value (NPV)which equals thebrand value.1. Base-case brand and business valuation(using internal data), growth strategyformulation, target-setting, scorecard andtracker set-upCurrent brand andbusiness valueEvaluate ongoing performanceTarget brand andbusiness valueBrand Finance Restaurants 25 March 20177.
Executive SummaryRestaurants2512345The brand values of McDonald’s, KFC, Subwayand Domino’s have all fallen heavy competition inan increasingly fragmented market with healthierchallenger brands offering greater choice forconsumers.Panera Bread, regularly lauded as the healthiestfast food chain, is a beneficiary of this trend forslightly healthier, fast-casual options. Panera’scommunications and advertising (developed withlead agency Anomaly since 2015) draw heavilyupon this theme, stressing the importance of‘clean’, natural food as the foundation of a full andhealthy life. The brand is going from strength tostrength, with its Brand Index Score increasingfrom 71 in 2025 to 76 in 2016 and 80 this year.Brand value is up 32% to US 1.9 billion.trends are in its favour and the brand had beengrowing rapidly, reputational issues have doggedChipotle over the last 18 months. In late 2015,dozens of customers were taken ill in severalseparate incidents due to outbreaks of Salmonella,E Coli and Norovirus.Though firm steps have now been taken to addresshygiene standards, sales for 2016 were down 13%on the year before and profits were down over75%. Some tentative signs of recovery are juststarting to emerge however, suggesting thatChipotle has been able to develop a sufficientlystrong brand to weather the crisis long term.Bucking the healthy eating trend is Papa John’s,this year’s fastest growing restaurant brand. Thefirm continues to expand and is rapidly approachingThe same cannot be said for follow fast-casual a total of 5,000 locations. Franchisee fees arepioneer Chipotle Mexican Grill. Its brand value is relatively high, including an ad royalty of 8%,down 13% to US 2.9 billion. Though consumer though with brand value growth of 52% and a 58.Brand Finance Restaurants 25 March 2017Rank 2017: 1 2016: 1BV 2017: 38,966mBV 2016: 42,937mBrand Rating: AAA-9%Rank 2017: 2 2016: 2BV 2017: 25,615m 10%BV 2016: 23,185mBrand Rating: AAARank 2017: 3 2016: 4BV 2017: 7,681m 45%BV 2016: 5,282mBrand Rating: AA Rank 2017: 4 2016: 3BV 2017: 6,155m-27%BV 2016: 8,453mBrand Rating: AAARank 2017: 5 2016: 6BV 2017: 5,068m 11%BV 2016: 4,569mBrand Rating: AA 678910Rank 2017: 6 2016: 5BV 2017: 3,983m-16%BV 2016: 4,764mBrand Rating: AAARank 2017: 7 2016: 8BV 2017: 3,717mBV 2016: 3,756mBrand Rating: AAA--1%Rank 2017: 8 2016: 7BV 2017: 3,295m -22%BV 2016: 4,238mBrand Rating: AAARank 2017: 9 2016: 9BV 2017: 2,935m-13%BV 2016: 3,377mBrand Rating: AA Rank 2017: 10 2016: 10BV 2017: 2,212m-10%BV 2016: 2,464mBrand Rating: AA point increase in its Brand Strength Index score, Tim Horton’s is another strong performer, with aCEO and founder John Schnatter will feel confident 45% increase in brand value. The coffee chainin justifying the royalties.offering may be considered run-of-the-mill tosome, but its surge indicates that there is an underPapa John’s product and advertising are fairly exploited appetite for reasonably priced rathertraditional, Papa Johns has pioneered digital than premium coffee.technology. It was the first pizza chain to offeronline ordering, back in 2002, its first mover Its merger with Burger King has benefitted bothadvantage netting it additional market share. This brands (Burger King’s brand value is up 11%) asyear, it is trialling ‘Papa Priority’ which will enable well as shareholders; the brand’s combinedcustomers to move their orders to the front of the market capitalization is US 4 billion higher nowqueue for a 3 fee. Though there is every chance than at the time of the merger. The deal providesthat this will prove popular with some customers opportunities for improved distribution and costand generate extra revenue, there is a significant saving. Tim Horton’s devotees may be concernedrisk this will alienate others, undermining Papa’s at the loss of a Canadian icon but the strength andeveryman image, weakening the brand. Papa unique identities of both brands would make theJohns should ensure that it has done its brand disappearance of either almost unthinkable.due diligence in addition to examining the shortterm financial case before proceeding.Brand Finance Restaurants 25 March 20179.
Executive SummaryRestaurants 25Brand FinanceRestaurants 25 (USDm)Top 25 most valuable restaurants brands 1 - 25.Brand Value Over Time60Burger King50Brand value (US bn)KFC40Tim d Value Change 2016-2017 (US Brand nameMcDonald'sStarbucksTim Horton'sKFCBurger KingDomino's PizzaSubwayPizza HutChipotleTaco BellCosta CoffeePanera BreadJack In The BoxJollibeeDunkin' DonutsBuffalo Wild WingsPapa John'sChili'sOlive GardenRed LobsterSONICCracker BarrelCheesecake FactoryDenny'sTexas RoadhouseDomicileUnited StatesUnited StatesCanadaUnited StatesUnited StatesUnited StatesUnited StatesUnited StatesUnited StatesUnited StatesBrandBrand%value (USDm) change 3772,464Brandrating2017Brandrating2016AAAAAAAA AAAAA AAAAAAAAAAA AA AAAAAAAA AA AAAAA AAAAA AA AA Brand Value Change 2016-2017 (%)Starbucks Starbucks 2431 2431Papa John'sPapa John's52%52%Tim Horton'sTim Horton's 2399 2399Olive GardenOlive Garden52%52%Burger KingBurger King 499 499Tim Horton'sTim Horton's45%45%Panera BreadPanera Bread 466 466Red LobsterRed Lobster33%33%Papa John'sPapa John's 373 373Panera BreadPanera Bread32%32%Olive GardenOlive Garden 350 350JollibeeJollibee29%29%Costa CoffeeCosta Coffee 346 346SONICSONIC29%29% -39 -39SubwaySubway-1%-1%Subway -252 -252Taco BellTaco Bell-9%-9%McDonald'sMcDonald's -442 -442ChipotleChipotle-10%-10%Taco Bell Taco Bell -781 -781Domino's PizzaDomino's Pizza-13%-13%Chipotle -943 -943Pizza HutPizza Hut-16%-16%Domino's PizzaDomino's Pizza -2298 -2298KFCKFC-22%-22%Pizza Hut Pizza Hut -3971 -3971McDonald's McDonald's-27%-27%KFCSubwayChipotleKFC10. Brand Finance Restaurants 25 March 4286656.8571431628.4285712600.000000Rank2017Brand Finance Restaurants 25 March 2017-35 -25 -15 -35-5 -255 -1515 -525 535 1545 2555 3565 45 55 6511.
Understand Your Brand’s ValueEnterprise Value (EUR) 729m 650m 9,399m 6,265729800650607 2,328300320 707Brand Value by Product Segment21337%Nutrition200Performance 01420152016Business PerformanceExternal Changes2016Brand StrengthBusiness OutlookEconomic Outlook[XXX]’s brand strength has increased compared to last year.Brands drive higher revenues. An investor would thereforepay more for a brand that makes more money.All future returns are subject to risk. If the risk of notreceiving the forecast returns is higher (increasing thediscount rate), the brand’s market is not growing as quicklyas expected (lower long term growth rate) or the tax rate inthe brand’s regions of operation is higher, then the brand’svalue is reduced and vice versa.As the brand continues its sustainability drive, [XXX] hasbeen improving across all CSR scores. It now has thehighest CSR scores it has had in the last four years acrossEnvironment, Employees and Governance.The premium approach is also leading to significant marginadvantages – positively affecting “performance”.58%Other ActivitiesBrand Strength 1,9135002757292015 3,031[XXX]60040072978/10034Peer Group Comparison (USDm)Historic brand value performance (EURm)700AA [XXX]’s revenue base and the 5 year forecast growth havefallen this year, resulting in a loss of 177m USD to totalbrand value.However, it is important to note that this has arisen as aresult of the company divesting a number of divisions.201620155 Year ForecastGrowth2.6%3.4%Base YearRevenue (EURm)8,2059,57020162015Discount Rate9.1%8.6%Long Term Growth3.2%2.6%Tax28.9%30.2%Brand Strength Index[XXX]18 10,216m 882mBrand Value (EUR)Brand Valuation AssumptionsAn ideal balanced scorecard of fundamental brand related measuresThree key areas impact Brand Value (EURm) 707mBrand Value (EUR)Brand Strength Index 2016Drivers of ChangeBrand Value Dashboard6.25%50%BrandPerformanceProduct:R&D expenditure,Widely recognised factors deployed byMarketers to create brand loyalty andmarket share. We therefore benchmarkbrands against relevant input measures bysector against each of these factors.Capital expenditureInputs25%25%BrandEquityUnderlying economic assumptions used in valuationBSIAttributes6.25%Place:Website Ranking6.25%People:6.25%Promotion: Marketing expenditureNumber of Employees,Employee aff5%5.00%Employee ScoreFinancial5%2.50%Credit Rating2.50%Analyst RecommendationExternal5%1.67%Environment ScoreOutputs25%25%Governance Score6.25%Revenue6.25%6.25% 650 Brand equity accounts for 50% to reflectthe importance of stakeholderperceptions to behaviour Brand Equity is important to allstakeholder groups with customers beingthe most important% Margin% Forecast Margin% Forecast Revenue GrowthQuantitative market, market share andfinancial measures resulting from thestrength of the brand.Determining the Royalty RateIn order to apply the Brand Strength Index, a hypothetical royalty rate range needs to be setFollowing the OECD guidelines, Brand Finance sets the hypothetical brand royalty rate ranges by reference to three tests: Strong brand%BrandEquity XBrandPerformanceForecast revenuesWeak brandRevenueLong Term Growth RateTax RateDiscount RateLicensing payments for the use of abrand are derived from revenue.Increases or decreases in forecastedrevenue increase or decrease thefinal valuation.After the explicit forecasts, the brandwill continue to grow. However, it isunlikely that the company will sustainextraordinary returns into the futureso forecast industry growth rates areapplied.Forecasted royalties are reduced bythe tax rate to reflect the actualamount that would be received bythe brand owner after tax.Earnings in the future are worth lessthan consumption now. This rate istherefore used to reduce futureearnings to their value today.Community Score1.67%6.25%BrandInvestmentHow do stakeholders feel about the brandvs. competitors?Customer1.67%Brand value (EURm)5 year Compound Annual Growth Rate(CAGR)201520142.6%3.4%Long Term Growth Rate-0.8%201520143.2%2.6%Tax Rate 0.6%Discount Rate2015201429%30%-1.3%201520149.1%8.6% 0.5%Competitor Royalty RatesCompetitor royalty rates will be different based on different strengths of the brand, havingdifferent operating segments and company-specific long term affordability Comparable Agreements: A search of comparable licensing agreements for brands in each industry is conducted every year. The margin analysesare then compared against the royalty rates found in these agreements to analyse the importance of brand in the industry and set an appropriateaverage industry royalty rate. Industry Margins: An analysis of 25% to 40% of margins, generally accepted as rules of thumb for licensing rates for all intangible assets in acompany. These rates are adjusted to take into account the importance of brand in a given industry. Affordability: Thirdly, an analysis of the brand’s specific royalties is conducted. If the brand has been able to sustain extraordinary profits over anextended time it is likely that hypothetical brand owners would be willing to pay closer to the company’s margins than the industry average. In thecase of Brand Finance’s League Table models, affordability will be based on the forecast .5% Average industry royalty rate ranges can be seen belowHigh0.00%DSM0.00%BASFDow0.00%0.00%Du Pont0.00%Akzo Nobel0.00%Akzo NobelMidLowA Brand Value Report provides a completebreakdown of the assumptions, datasources and calculations used to arrive atyour brand’s value.Each report includes expert recommendationsfor growing brand value to drive businessperformance and offers a cost-effective way togaining a better understanding of your positionagainst competitors.A full report includes the following sectionswhich can also be purchased individually.Brand Valuation SummaryOverview of the brand valuation includingexecutive summary, explanation of changes inbrand value and historic and peer groupcomparisons.12. Brand Finance Restaurants 25 March 2017[XXX][XXX]BASFDowDu PontAkzo Nobel - CorporateAkzo Nobel – Paints andCoatings787880808282 Internal understanding of brand Brand value tracking Competitor benchmarking Historical brand valueRoyalty RatesTrademark AuditAnalysis of competitor royalty rates, industryroyalty rate ranges and margin analysis used todetermine brand specific royalty rate.Brand Strength Index Transfer pricing Licensing/ franchising negotiation International licensing Competitor benchmarkingAnalysis of the current level of protection for thebrands word marks and trademark iconographyhighlighting areas where the marks are in needof protection.A breakdown of how the brand performed onvarious metrics of brand strength, benchmarkedagainst competitor brands in a balancedscorecard framework. Brand strength tracking Brand strength analysis Management KPI’s Competitor benchmarkingCost of CapitalA breakdown of the cost of capital calculation,including risk free rates, brand debt riskpremiums and the cost of equity through CAPM. Independent view of cost of capital for internalvaluations and project appraisal exercises Highlight unprotected marks Spot potential infringement Trademark registration strategyFor more information regarding our LeagueTable Reports, please contact:Alex HaighDirector of League Tables, Brand Financea.haigh@brandfinance.com 44 (0)207 389 9400Brand Finance Restaurants 25 March 2017 13.
How we can helpContact details1. Valuation: What are my intangible assetsworth?2. Analytics: How can I improve marketingeffectiveness?IONNASTACBrand &Business Value4.TRAN Franchising & Licensing Expert WitnessMARKETINGFINANCEYEGATTransaction services help buyers, sellers andowners of branded businesses get a better dealby leveraging the value of their intangibles. M&A Due Diligence Tax & Transfer Pricing2. A Market Research Analytics Brand Scorecard Tracking3. STR4. Transactions: Is it a gooddeal? Can I leverage myintangible assets?NICS Trademark Valuation Brand ContributionIOATAnalytical services help to uncover drivers of demandand insights. Identifying the factors which driveconsumer behaviour allow an understandingof how brands create bottom-line impact.TLY Branded Business Valuation Intangible Asset Valuation1. VALUValuations may be conducted for technical purposesand to set a baseline against which potential strategicbrand scenarios can be evaluated. Brand Audits Return on Marketing Investment3. Strategy: How can I increasethe value of my branded business?Strategic marketing services enable brandsto be leveraged to grow businesses. Scenariomodelling will identify the best opportunities,ensuring resources are allocated to those activitieswhich have the most impact on brand and business value. Brand Governance Brand Transition Brand Architecture & Portfolio Management Brand Positioning & ExtensionTAXLEGALWe help marketers to connecttheir brands to businessperformance by evaluating thereturn on investment (ROI) ofbrand based decisions andstrategies.We provide financiers andauditors with an independentassessment on all forms ofbrand and intangible assetvaluations.We help brand owners andfiscal authorities to understandthe implications of differenttax, transfer pricing and brandownership arrangements.We help clients to enforce andexploit their intellectualproperty rights by providingindependent expert advice inand outside of the courtroom. Branded Business Valuation Brand Contribution Trademark Valuation Intangible Asset Valuation Brand Audit Market Research Analytics Brand Scorecard Tracking Return on MarketingInvestment Brand Transition Brand Governance Brand Architecture &Portfolio Management Brand Positioning &Extension Franchising & Licensing Branded Business Valuation Brand Contribution Trademark Valuation Intangible Asset Valuation Brand Audit Market Research Analytics Brand Scorecard Tracking Return on MarketingInvestment Brand Transition Brand Governance Brand Architecture &Portfolio Management Brand Positioning &Extension Mergers, Acquisitions andFinance Raising DueDiligence Franchising & Licensing Tax & Transfer Pricing Expert Witness Branded Business Valuation Brand Contribution Trademark Valuation Intangible Asset Valuation Brand Audit Market Research Analytics Franchising & Licensing Tax & Transfer Pricing Expert Witness 14. Brand Finance Restaurants 25 March 2017Branded Business ValuationBrand ContributionTrademark ValuationIntangible Asset ValuationBrand AuditTax & Transfer PricingExpert WitnessContact usOur officesFor brand value reportenquiries, please contact:Alex HaighDirector of League TablesBrand Financea.haigh@brandfinance.comFor media enquiries,please contact:Robert HaighMarketing & CommunicationsDirector Brand Financer.haigh@brandfinance.comFor all other enquiries,please contact:enquiries@brandfinance.com 44 (0)20 7389 nd Finance has produced this studywith an independent and unbiasedanalysis. The values derived andopinions produced in this study arebased only on publicly availableinformation and certain assumptionsthat Brand Finance used where suchdata was deficient or unclear . BrandFinance accepts no responsibility andwill not be liable in the event that thepublicly available information reliedupon is subsequently found to beinaccurate.The opinions and financial analysisexpressed in the report are not to beconstrued as providing investment orbusiness advice. Brand Finance doesnot intend the report to be relied uponfor any reason and excludes all liabilitytoanybody,governmentororganisation.For further information on Brand Finance ’s services and valuation experience, please contactyour local ribbeanEast yMalaysiaMexicoLatAm (exc. Brazil)Middle EastNigeriaPortugalRussiaScandinaviaSingaporeSouth AfricaSpainSri LankaSwitzerlandTurkeyUKUSAVietnamContactMark CrowePedro TavaresBill RatcliffeMinnie FuNigel CooperJawad JafferVictoire RuaultDr. Holger MühlbauerIoannis LionisMarc CloostermanAjimon FrancisJimmy HalimMassimo PizzoSamir DixitLaurence NewellLaurence NewellAndrew CampbellBabatunde OdumeruPedro TavaresAlexander EremenkoAlexander TodoranSamir DixitJeremy SampsonLorena Jorge RamirezRuchi GunewardeneVictoire RuaultMuhterem IlgünerAlex HaighAnne Bahr-ThompsonLai Tien ManhEmail randfinance.comm.pizzo@brandfinance.coms
The annual report on the world’s most valuable restaurants brands March 2017. 2. Brand Finance Australia 100 Global 500 Airlines 30 30 February 2015Restaurants 25 March 2017February 2016March 2016 Brand Finance Restaurants 25 March 201
8 Brand Finance Restaurants 25 February 2019 Brand Finance Restaurants 25 February 2019 9 Executive Summary. Starbucks froths at top Starbucks, the ever-popular coffee chain, remains the most valuable restaurant brand after its brand value increased by 21% since last year to US 39.3 billion. Starbucks has continued to expand its business to
8. Brand Finance US 500 March 2017 Brand Finance US 500 March 2017 9. Rank 2017: 1 2016: 2 BV 2017: 109.5bn BV 2016: 88.2bn Brand Rating: AAA Rank 2017: 2 2016: 1 BV 2017: 107.1bn BV 2017: BV 2016: 145.9bn Brand Rating: AAA Rank 2017: 3 2016: 3 BV 2017: 106.4bn BV 2017: BV 2016: 69.6bn Brand Rating: AAA-Rank 2017: 4 2016: 6
Brand Finance GIFT October 2018 Brand Finance GIFT October 2018 5. About Brand Finance. Brand Finance is the world's leading independent brand valuation and strategy consultancy. Brand Finance was set up in 1996 with the aim of 'bridging the gap between marketing and finance'.
8. Brand Finance Global 500 February 2017 Brand Finance Global 500 February 2017 9. Rank 2017: 1 2016: 2 BV 2017: 109,470m BV 2017: BV 2016: 88,173m Brand Rating: AAA Rank 2017: 2 2016: 1 BV 2017: 107,141m BV 2016: 145,918m Brand Rating: AAA Rank 2017: 3 2016: 3 BV 2017: 106,369m BV 2016: 69,642m Brand Rating: AAA-
Strategic Brand Management Exeter MBA and MSc –Day 2 Brand Strategy Jack Buckner Aaker’s Brand Identity System BRAND IMAGE How the brand is now perceived BRAND IDENTITY How strategists want the brand to be perceived BRAND POSITION The part of the brand identity and value pro
brand equity, brand image, brand personality and brand extension. 2. Brand Extension. Brand extension is a marketing strategy in which new products are introduced in relation to a successful brand. Various experts have defined brand extensions differently . though, these definitions look quite similar. Kotler and Armstrong (2002) defined brand
Brand values help to remain true to your brand values and will increase employee engagement. Benefit 2 Brand values make your brand more memorable. Benefit 3 Brand values will create deep emotional connections with your audience. Benefit 4 Brand values will maintain brand authenticity. Benefit 5 Brand values will guide everyone on your team .
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