New York, New York (PRWEB) July 23, 2012
CoreBrand, a leading brand strategy and communications firm, and creator of the Corporate Branding Index®, which provides continuous benchmarking data, insights and corporate brand valuation for over 1,000 companies, across 54 industries, released a new study today titled Electric Utilities Charging Ahead. In the study, CoreBrand provides a detailed analysis of its Brand Power rankings for the Electric Utilities industry, highlights major industry trends, and provides best practices that companies can use to help build brand value. The ranking results are based on CoreBrand’s Fifth Annual Brand Power Top 100 Rankings Report, which ranks 100 corporate brands in terms of market reputation and awareness.
“When viewing the utility industry as a whole, it appears that the corporate brand has a minimal impact on overall corporate value, which can be expected in an industry dominated by major regional players,” commented James R. Gregory, CEO and founder of CoreBrand. “But after taking a closer look at the details behind the data, a different picture emerges and it is clear that the corporate brand can actually be a powerful driver of value – one that can be proactively influenced for the betterment of the whole enterprise.”
In the study, CoreBrand examines the brand data of four selected electric utility companies to identify key drivers to building a powerful brand in one of the most challenging industries.
1.) ConEdison leads the industry: Not only does ConEdison rank #1 on the industry list in terms of Brand Power, it also managed the most significant Brand Power growth over two years, which can be attributed to its steady efforts helping consumers, while still appealing to their investors. The company’s familiarity has also risen steadily in recent years, which can be attributed to ad campaigns and consumer satisfaction efforts. CoreBrand also found that ConEdison’s overall reputation is on the rise, which can likely be attributed to its expansion into renewable energy, as more traditional energy gathering methods are often met with more consumer scrutiny. This rise in reputation and management trust will likely drive growth in Investment Potential.
2.) Exelon is on a steady rise: Since 2006, Exelon’s Brand Power has increased by a remarkable 72 percent, likely due to an increase in brand awareness. Exelon’s Overall Reputation and Perception of Management has risen over the last year after several years of a decline. This upward trend shows a positive outlook of its brand.
3.) Edison International rebounds in three years: In the past three years, Edison International has experienced strong brand growth. Since 2006, the company has experience a 45 percent growth in Familiarity. Edison International’s brand clarity is also strong and growing stronger, as its attributes (Overall Reputation, Perception of Management and Investment Potential) become more closely aligned, indicating uniform brand perception.
4.) American Electric Power shows improvement: After years of experiencing a flat-to-declining Brand Power, American Electric Power has managed an 8 percent growth of its brand since 2006. The company’s Investment Potential has risen 24 percent, a dramatic growth in a short period of time.
“The industry has gone through some significant changes. For a long time, utilities were trending toward competing for customers and marketing activities were becoming more consumer focused. That trend has recently slowed, and long-term corporate branding to multiple constituencies is the current trend,” added Charles Muir, Brand Associate at CoreBrand and co-author of the study. “The pressure for greater corporate social responsibility is especially acute in the industry, and tying it into an overall brand strategy requires consistent measurement and clear accountability. We believe the utility industry is at an inflection point where branding will become a growing factor in driving stock performance.”
CoreBrand’s Brand Power rankings are derived from an annual survey of more than 10,000 business decision-makers from the top 20 percent of U.S. businesses who represent the investment community, potential business partners and business customers. Brand Power is a measure of size (familiarity) and quality (favorability), familiarity representing whether or not a survey respondent is familiar with the brand and favorability representing the brand’s overall reputation, perception of management, and investment potential. Brand Power rankings compare the size and quality of a brand to all other brands in the Corporate Branding Index. The Brand Power rankings provide a market-view evaluation of corporate brand strength regardless of industry affiliation.
To view the entire “Electric Utilities Charging Ahead” report and CoreBrand’s best practices to help companies raise brand power and build brand clarity, click HERE.
CoreBrand, an independent branding firm based out of New York, is the only firm that links brand identity to financial performance through data and analysis. CoreBrand helps organizations understand, build, express and measure their brands. Thanks in part to its unique CoreBrand®Analysis, the company is able to gauge the impact of a brand initiative upon the success of an organization. CoreBrand is the creator of Corporate Branding Index®, a 20 year old index that provides continuous benchmarking data, insights and corporate brand valuation for over 1,000 companies, across 54 industries. To learn more about CoreBrand please visit http://www.corebrand.com.
For more information or to schedule an interview with a CoreBrand representative, please contact Katherine Herring of Levick Strategic Communications at 202-973-1315 or kherring(at)levick(dot)com
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