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Hyundai Reports on Brand Value [Professional Services Close - Up](Professional Services Close - Up Via Acquire Media NewsEdge) Hyundai Motor Company reported that its brand value posted another two-digit growth in 2014. The company noted that the brand value of Hyundai Motor, who has been included in Interbrand's Best 100 Global Brands for 10 consecutive years, surpassed the $10 billion mark for the first time, its highest record so far. This is a 16 percent increase from last year's $9 billion value and a nearly 200 percent jump from its $3.5 billion value in 2005. "Hyundai Motor is one of the fastest growing automotive brands in terms of both volume and brand value," Interbrand said in a statement. "Hyundai Motor makes unique convenience features available across a broader range of vehicles to enhance driving experience and customer satisfaction, while its commitment to brand building extends to multiple touchpoints. As a result of these efforts, brand awareness of product attributes like design and the kind of brand loyalty that comes from an emotional connection are becoming key drivers over price." According to a release from the company, in particular, Hyundai Motor's ranking rose 44 notches since 2005, when it first announced its shift to brand management. Also, the brand value has increased an average of 20 percent each year after the company introduced its new brand direction in 2011, called Modern Premium. "We're implementing a wide variety of brand-related activities that aren't simply focused on increasing sales, but are aimed at becoming a brand that our customers genuinely love," said Won Hong Cho, Hyundai Motor's Chief Marketing Officer. "We will continue to invest in our brand, by providing Hyundai Motor's unique premium experience in all aspects of the customer's journey with our brand." The Interbrand rankings are calculated using companies' financial balance sheets combined with marketing activities, while also reflecting each brand's potential profit. Hyundai Motor Company is a provider of automobiles. ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |