In this fourth part of Cosmetics Business’ analysis of Brand Finance’s top 50 most valuable cosmetics brands of 2023, Annie Brown, General Manager at Brand Finance, talks about the importance of consumer perception, CSR and sustainability when it comes to brand value.
When calculating brand value (see below), one of the aspects beyond ‘how many people have heard of a brand?’ are ‘amongst those people have heard of it, what do they think of the brand?’ – it stands to reason, then, that the way a brand is viewed by the general public is echoed in its position in Brand Finance’s table.
“It [consumer perception] impacts everything for business,” says Brown.
“The only question is ‘when?’ Consumer perception directly impacts your sales; if you have a choice and you don’t like a particular brand, you’re going to pick another brand. And that’s going to be something that happens immediately. So, if there is a PR disaster, that could be detected immediately in people’s choices,” she adds.
About Brand Finance
Brand Finance is the world’s leading independent brand valuation and strategy consultancy. It is a specialist consultancy dedicated to the better understanding of marketing finances, founded in 1996 with the aim of ‘bridging the gap between marketing and finance’. Brand Finance offers a highly professional approach to marketing accountability and brand evaluation. For more than 20 years Brand Finance has helped companies to connect their brands to the bottom line, building robust business cases for brand decisions, strategies and investments. The company has helped finance people to evaluate marketing programmes and marketing people to present their case in the boardroom. To find out more, visit https://brandirectory.com/rankings/cosmetics or contact enquiries@brandfinance.com.
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