Published on December 20, 2013
Millward Brown HELPING YOUR BRANDS GROW 1
WE ARE THE WORLD’S LEADING EXPERT IN helping clients GROW great brands 2
BRAND EQUITY is only ONE of the ways we create Meaningful Impact for our clients 3
Our Areas of Focus meaningfully DIFFERENT 4
Our Areas of Expertise – Brand Media & Comms Brand Tracking Digital CrossMedia Brand Strategy Social Brand Valuation Marketing Mix ROI Qualitative Copy Testing Neuroscience Consulting Marketing Science 5
Market Leadership and Consulting ANNUAL DIGITAL PREDICTIONS BRAND VALUE PERSPECTIVES SERIES ENGAGING DISPLAY CAMPAIGNS MOST VALUABLE BRANDS INSIGHTS PUBLICATIONS MEDIA 6
90% of the world’s LEADING BRANDS 7
Our clients exceed market returns to shareholders Millward Brown Top 20* Clients vs. S&P 500 (Jan 2005 - July 2012) 60% 40% +29% 20% 0% -20% -40% -60% Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 MB Top 20* Jan-10 Jan-11 SP500 Source: Bloomberg, Millward Brown, MB Optimor analysis * Portfolio is re-weighted annually based on top 20 client each year Jan-12
Global Presence (90 offices), Local Expertise (research over 70 languages) MENA – Dubai & Cairo (2012), KSA in (Dec’13) Africa – South Africa, Kenya, Ghana, Nigeria 9
Great metrics, need great data capturing techniques 10
One answer is mobile interviewing 11
Why consider mobile surveys? ACTUALLY THE REAL QUESTION SHOULD BE WHY NOT? 1.5 BILLION 37% GROWTH 15% OF WEB 12 smartphones and tablets will be installed globally by mid 2013 – overtaking laptops and PCs* in the number of global 3G subscribers in the past year** traffic comes via mobile – more than double last year; Mobile traffic share already over 50% in India and China*** *Source: Morgan Stanley Research; **Source: Informa WCIS; ***Source: StatCounter Global Stats, 9/12
Nearly 40% of web traffic in KSA comes from a mobile phone device and not from a desktop 13
This is not surprising since KSA ranks third in the world with over 70% smart phone penetration. 14
MOBILE SURVEYS GIVE YOU INCREDIBLE SHORT TERM ADVANTAGES Consumers are connected to their mobile phones all the time and find it comfortable and engaging as a communication medium better interview context Pilot studies have shown that without interviewers (over)prompting, mobile data is more discriminating between brands and reflect market reality better better data quality Speed of data access and deliverables increases significantly. 15
MOBILE SURVEYS WILL HELP YOU FUTURE PROOF YOUR INSIGHTS Door to door access will get increasingly difficult and expensive due to rising trend of gated communities where higher income respondents reside better representativeness of the sample Can integrate exciting possibilities offered by the smartphone platform: multimedia, geo-location (GPS), passive behaviour monitoring (once the smartphone penetration is sufficiently high). 16
Data quality is impressive on Mobile 17
KEY INSIGHTS WE HAVE SEEN FROM THE DATA 18
ACCESS TO HIGHER INCOME HOUSEHOLDS MOBILE GIVES US BETTER ACCESS TO HIGHER INCOME HOUSEHOLDS (MORE 19 VALUABLE CUSTOMERS) THAN TRADITIONAL DOOR-TO-DOOR INTERVIEWING CAN
MOBILE DATA MATCHES UP TO MARKET SHARE 20 OVER TIME, MOBILE DATA MATCHES UP TO MARKET REALITY EVEN MORE DUE TO THE ABILITY TO COVER WIDER GEOGRAPHIES NATIONALLY
MORE HONEST FEEDBACK SELF-COMPLETION MODE MEANS THAT RESPONDENTS ARE MORE DISCRIMINATING TOWARDS BRANDS, GIVING US MORE HONEST AND USEFUL FEEDBACK 21
NOT AN ISSUE CAPTURING OPEN ENDED RESPONSES 22
SCREEN SIZE DOESN’T MATTER – RESPONSES ARE CONSISTENT 23
AS OF NOV 2013, WE HAVE INTERVIEWED 10,000+ CONSUMERS IN ASIA, AFRICA AND MIDDLE EAST THROUGH THEIR MOBILE. 24
Our mobile fieldwork partner is ODR WITH UP TO 1500 NEW PANELISTS BEING ADDED EACH MONTH 25
How does it work? Give it a try If you have an active data connection, go to your mobile browser and type in the following URLs in the address line. Banking example: https://s.on-device.com/w/e1W • • • Males and Females Between 20-50 YO Currently has an active bank account in KSA. 26
THE TWO KSA STUDIES IN FIGURES 83% answered the surveys using a smartphone 65% answered the surveys using an Apple iOS device 9 days get 1000 completes 11 mins to complete on average for Auto 8 mins to complete on average for Banking 27
Brand Equity Study completed via Mobile in KSA Cars & Banking 28
EQUITY OF LEADING CAR BRANDS 29
Take a Guess– Which Brands have higher Power? Power 12 30
What is driving Toyota’s Power? People consider the brands that are most salient – the ones that come to mind quickest when the need arises. Salient Salient 156 156 Meaningful 128 Because people are predisposed to consider brands when they believe them to be meaningful. They meet their needs better than other brands and they appeal to them more than others. Power 19.3 Different 88 If a brand seeks to charge a premium, people will only do so if they believe the brand is meaningfully different in some way. Very Salient and Strongly Meaningful overall. Weak perceived difference is its main weakness as it is the most popular make in the country.
Leading car brands in Saudi Arabia Power 12
Power can transform quickly… 25% 20% 15% 2011 2013 10% 5% 0% Toyata Ford Hyundai Mercedes-Benz BMW Over the last couple of years, the brand equity scores of Toyota has come down at the expense of growth of brands like Ford and Hyundai. 33
Changing demographics also impacting power shift: Younger Saudis lean towards Hyundai and BMW POWER SCORES IN 2013 TOTAL SAMPLE Toyota 19.3% Ford 12.1% Hyundai 12% Mercedes-Benz 11.8% BMW 11.1% Chevrolet 9% Honda 9% Nissan GMC 34 Average Average Average Average 7% Lower than the average 30-50 YRS 8% Base: 20-29 YRS Average Average (400) (236) Higher than the average (164)
What contributes to being Meaningful & Different in cars? 35
What is driving Meaningful & Difference for cars in KSA? Contribution to Meaningful Proud to drive Contribution to Difference Driving experience Better to drive 26.6% Proud to drive 24.2% Better to drive Stylish design 17.0% 16.3% Acceptable price 14.0% Stylish design Acceptable price 20.9% Costs more Too cheap 3.1% 0.4% Doesn't meet needs - 12.4% 16.7% 1.7% Costs more Too cheap - 1.3% 29.9% Premium pricing Doesn't meet needs - 15.6% 36
What drives Power for Cars in KSA? Costs more 2% Does not meet my needs -5% Acceptable price 18% Stylish 22% POWER Proud to use 28% Better to drive 23% 37
Power differences across mid range car brands Average Endorsement across category Better to drive than others in their class 33% More stylish and better designed than others in their class 34% Would be proud to use 34% Acceptable price 13% Does not meet my needs 22% Costs more than you're prepared to pay 12% Too cheap 6% Toyota Ford 1% 1% -8% -10% -1% -2% -4% -15% -6% 13% -5% 9% 4% 9% -2% 1% -1% Hyundai -6% -3% 1% 2% 38
Power differences across prestige brands Average Endorsement across category Mercedes Benz BMW Better to drive than others in their class 33% 31% More stylish and better designed than others in their class 34% 29% Would be proud to use 34% Acceptable price 13% -11% Does not meet my needs 22% -13% Costs more than you're prepared to pay 12% Too cheap 6% 22% 36% 33% 38% -10% -2% 16% -5% 13% -1% 39
From Power to Volume Share Tapping in to brand’s potential 40
POWER % vs. POTENTIAL 80 Mercedes-Benz POTENTIAL (Likelihood to gain market share) 70 BMW 60 GMC Honda 50 Toyota Ford Chevrolet 40 Hyundai Nissan 30 While clocking in impressive sales nationally, Hyundai’s brand equity has yet to catch up with its sales volume. Needs to address weak perceptions around drive experience to improve the sense of prestige and pride to counter this 20 10 0 0.0% 41 Momentum for the luxury / premium brands continue to be strong going forward in KSA. Superior drive experience and particularly differentiated designs appeal to the younger car buyers. 5.0% 10.0% 15.0% POWER % (current equity share) Enjoying the lion share of the market but the path ahead is less clear. Challenged by the likes of Hyundai on price point and also seen to be held back by less differentiated design and exteriors compared to some of the newer market entries. 20.0% 25.0%
For Toyota, analysis of the barriers & facilitators shows that a significant part of Toyota market share comes from conversion of demand from other brands. OPPORTUNITY LOST through In-Market Activation Volume Share £ Brand Predisposition ¥ $ € The segment that will exit fastest if they could afford to ‘buy up’. Toyota should address some perceived weaknesses around design & drive exp Pre-disposed to Toyota but didn’t buy the brand Not pre-disposed (equity) to Toyota but bought anyway Were pre-disposed (high equity) and bought a Toyota
Quick look at the Saudi Banks 43
Take a Guess–Which Brands have higher Power? Al Rajhi
Top banks in Saudi Arabia Al Rajhi Meaningful 136 Salient 165 Power 35.2 Different 120 •Market leader across all regions. •Impressive scores on Meaningful and Salient which are important when choosing banks. •Overall very strong and positive disposition towards the bank. Salient 119 Meaningful 112 Power 17.6 Different 102 •Strong second player overall but held back by weaker scores in Riyadh. •Above category average on Meaningful and Salient but just about average on Difference.
Offering emotional assurance is even more important than offering attractive rates when chasing customers. What drives Brand Power? 28.3% Better Customer Service / Feels secure Better saving rates / Cheaper loans 25.6% Growing more popular 25.5% 10.7% Charges acceptable price Charges more Doesn't meet my needs 1.1% - 8.7% 46
TO SUM UP…. The MDS framework: - Helps you build meaningful brands & grown brand value - Holistic in approach, yet can diagnose in detail the barriers & facilitators to brand growth - Validated, forward looking and linked to brands’ financial performance. Digital data-collection is already a reality - Consumers are spending more time on digital devices - Gives us better access to different consumer profiles - Better quality data - Realistically shorter questionnaire (is the future) 47
Thank You 48
Any questions? Or for more information, please contact Charles Foster email@example.com 49
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