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PERU THOUGHT LEADERSHIP TOP 50 MOST VALUABLE LATIN AMERICAN BRANDS 2015 EXPORTING PERUVIAN BRANDS There is also the example of Aje Group, which has achieved presence in 23 countries by promoting the right product at an affordable price for a very specific segment. This group has strengthened in the past few years, but it is interesting to see that the company is daring to try something new in order to build its brands beyond the price element. It is seeking a new understanding of its consumers, who are also in need of a bond with the brand beyond the product. Clearly, these kinds of companies are prepared to reinvent themselves whenever necessary so as to go on competing in international markets. Faced with a fluctuating domestic economy, several Peruvian companies are looking to increase their international footprint, presenting their business models and brands on a broader stage. These brands seek to become emblematic to the wider LatAm region and even worldwide. CATALINA BONNET MONTOYA Managing Director Millward Brown, Peru Catalina.Bonnet@millwardbrown.com Examples like Belcorp and Yanbal International (Unique) have shown Latin America a strong business model in the Beauty and Personal Care category, posing a threat to big global companies. Their secret has been a local understanding of middle class consumers. The key to confronting global brands with strong presence has been to build meaningful differentiation, especially aimed at the Latin American emerging classes. What are these population segments looking for? A friend who provides honest beauty advice, one that a consumer trusts enough to try new things in front of without feeling judged. This is what the business model of these two companies is based upon. Brand Equity - Beauty Brands, Peru Unique 192 189 2 2.9 113 Esika 117 Meaningful Different Salient Power 100 (100 is an average score; 105 and above is a good score) 15.6 159 138 Source: Millward Brown and BrandZ Brand Equity - Banks, Peru Interbank 94 Mibanco 108 97 95 8.9 120 6.8 84 Meaningful Different Salient Power 100 (100 is an average score; 105 and above is a good score) Source: Millward Brown and BrandZ In the sphere of finance, a perfect example of internationalization is Interbank, a bank with a differentiated and aspirational proposal that has become stronger in some countries of this region. There is also the example of Mibanco, a microfinance offer addressing the niche of small and medium-sized companies, which find this brand relevant because it understands what they need in order to grow – whereas traditional banks do not. This bank’s challenge is to consolidate its emotional bonding and its market differentiator. Global ambition can also be seen in other large companies such as Alicorp, Química Suiza, and Gloria. These companies are now interested in understanding Latin American consumers, and are preparing to build strong brands in the region. So, we clearly see in Peru strong economic groups that are ready to compete in the whole region and hopefully globally. Their biggest challenge is to make sure they understand international consumers. Peruvian brands have achieved success by building propositions that are relevant for the needs of audiences that traditional global brands have not met. Their next step must be to build brands that connect at a more emotional level with consumers and, above all, that address them with honesty. 132 133
PERU THOUGHT LEADERSHIP TOP 50 MOST VALUABLE LATIN AMERICAN BRANDS 2015 HAS THE SLOWING PERUVIAN ECONOMY IMPACTED BRAND VALUE? The Peruvian economy saw important growth in recent years, generating changes in consumers: they are now more informed, more demanding, more connected, accessing more and more modern purchasing channels, and seeking new forms of entertainment. OLIVIA HERNÁNDEZ Client Service Director Millward Brown, Peru Olivia.Hernandez@millwardbrown.com However, in the past two years economic growth has not been as expected, which poses a question for brands: How can they keep generating value in an economic context less favorable than that of the country’s recent “golden age”? A lot of brands, the most valuable ones, have the answer to this question. These are the brands that achieved a value increase against 2014 despite the situation described. So, what is it that these brands did in order to grow? Investment on the Internet Revenues in the first half year in PEN (Peruvian New Sol). 46.6 Million 2012 2013 2014 Source: PWC and iab, Peru DIGITIZATION +20% In the face of the huge change in consumer behaviors, some brands have understood the way to be present in the new digital world. Although there is still a long way to go, there are brands – like BCP and Interbank – daring to be the first to increase their digital campaigns and create more salience, while favoring the use of the internet and mobile devices to make transactions. 56 Million +48% DIFFERENTIATION 83.2 Million With highly relevant insights and consistent communication, Pilsen Callao has managed to be a meaningful but, above all, different brand by generating a great brand experience, for instance, by celebrating Friend’s Day, or creating “the beer bouquet”. The presence of the retail sector in the most valuable brands ranking of last year shows that the modern channel is becoming stronger in the country. A good example of this is Real Plaza, the shopping mall chain that has expanded all over the country, generating clear differentiation in terms of leadership. Real Plaza has managed to break paradigms by bringing shopping malls close to different regions and socio-economic levels, as well as understanding consumers’ changing purchasing habits. It is focused on providing a great brand experience through meaningfulness – for instance, there are family entertainment areas inside its malls. However, there is still a long way to go in terms of innovation. Although there are brands with successful launches, there is another question to be answered: Is the work on innovation in Peru sufficient? Are we taking the calculated risks necessary to be more innovative? Innovation not only relates to products, but also to brands, communication, contact points... We must all open our minds to innovation. 134 135
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LATIN AMERICA WELCOME TOP 50 MOST V
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LATIN AMERICA OVERVIEW TOP 50 MOST
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LATIN AMERICA TOP 50 MOST VALUABLE
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ARGENTINA THOUGHT LEADERSHIP TOP 50
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Page 34 and 35: CHILE KEY FACTS AND TOP 15 MOST VAL
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Page 50 and 51: MEXICO KEY FACTS AND TOP 30 MOST VA
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Page 72 and 73: RESOURCES BRANDZ VALUATION METHODOL
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Page 77 and 78: RESOURCES CONTRIBUTORS TOP 50 MOST
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