Tuesday, 28 October 2014 10:22

Car maker’s branding soars

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KOREAN CAR maker Kia claims a 480% jump in the value of its brand in seven years because of its R&D and marketing spend.

The ‘100 Best Global Brands 2014’ list values Kia at US$5.4b, up from US$929m in 2007.

 

The company says the increase in brand value has outpaced the 11 other vehicle makers on the list, and the rate of growth over the past year alone is double the average for all companies in the top 100.

“An increase of that magnitude is outstanding,” says Todd McDonald, general manager of Kia Motors New Zealand.

“The appointment of Peter Schreyer to transform Kia into a design-led company was a brilliant strategy, and there has also been a great deal of investment in aligning Kia with high-profile sporting events and stars. Here in New Zealand we have been able to capitalise on that strategy and drive the profile of the brand, as well as sales, in this market.”

The ‘100 Best Global Brands’ rankings are compiled by US-based brand experts Interbrand. Kia entered the list in 2012 in 83rd place. It has risen to 74th place in the 2014 list.

Says Interbrand, “As a result of its continued branding efforts, expressed in the slogan ‘The Power to Surprise’, the Korean car maker has repositioned itself from an image of affordability, and is now targeting more design-conscious consumers.” 

Another Interbrand study released in June showed Kia had risen from 37th to 35th place on the list of ‘50 Best Global Green Brands 2014’.

 

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