How were the included companies selected?
Companies from all industries that contribute materially to household spend in each respective market were included in the study. This data was sourced from the Bureau of Labor Statistics’ February 2018 Report on Consumer Expenditures (US), Office for National Statistics’ 2018 Report (Germany), the office for National Statistics’ 2018 Family Spending Report (UK), and McKinsey’s Macroeconomic China Model Update for 2018 (China). Within each industry, the companies that were included achieved outsized business performance (MRY revenues and trailing 3-year revenue growth) within their respective industries. In some instances, smaller companies that have been driving change in these industries were also included given their significant traction with consumers. Given the methodology for brand selection, not all brands in every category could be included.
What was the primary research objective?
To understand the principles that great brands execute against — in customers’ minds — in order to establish themselves as relentlessly relevant.
How many brands were rated?
700 unique brands were rated across the four regional studies. Brands not included were those in the tobacco and firearms categories and companies engaged solely or primarily in business-to-business (B2B) categories.
What does it mean for a brand to be relevant?
At Prophet, we believe that relentlessly relevant brands do four things well – first, they’re customer obsessed. Everything they invest in, create and bring to market is designed to meet important needs in people’s lives. Second, they’re pervasively innovative. They don’t rest on their laurels, even as industry leaders – they push the status quo, engage with customers in new and creative ways, and find new ways to address unmet needs. Third, they’re ruthlessly pragmatic. They make sure their products are available where and when customers need them, deliver consistent experiences, and just make life that much easier for people. And, finally, they’re distinctively inspired. They’ve made emotional connections, earned trust, and often exist to fulfill a larger purpose.
Does the study build upon Dave Aaker’s IP and points of view on relevance?
Yes, of all the characteristics of a brand, the one that is most necessary for its success is relevance. Dave Aaker’s core point that brands have to create new subcategories and dominate them to the extent that no other alternatives are even considered is central to the idea of relevance. And it’s central to our definition of a relevant brand.
Who was our research partner?
Dynata is one of the world’s leading providers of first-party data contributed by consumers and business professionals. With a reach that encompasses 60+ million people globally and an extensive library of individual profile attributes collected through surveys, Dynata is the cornerstone for precise, trustworthy quality data. The company has built innovative data services and solutions around its core first-party data offering to bring the voice of the customer to the entire marketing spectrum, from market research to marketing and advertising. Dynata serves nearly 6,000 market research agencies, media and advertising agencies, consulting and investment firms, and healthcare and corporate customers in North America, South America, Europe, and Asia-Pacific. For more information, go to www.dynata.com.