Kia Motors Corporation has increased its brand value by 15% over the past year to reach the 83rd position on the exclusive list of ‘Top 100 Best Global Brands,’ according to a 2013 study released today by Interbrand, the world’s largest brand consultancy agency.
Kia first entered the ‘Top 100 Best Global Brands’ last year, coming in 87th place, but has since risen four spots to reach an estimated brand value of USD 4.7 billion. This represents a 15%, or USD 619 million, increase from last year’s estimated brand value and far exceeds the overall top 100 brands’ average value growth rate of 8.4%.
Strategic brand building activities in 2013 have included the continued roll out of “A Different Beat,” a newly developed brand identity system that embodies three core brand characteristics: vibrant, distinctive and reliable.
This new brand identity system is being driven across Kia’s global network both internally and externally and has paved the way for innovative marketing initiatives such as the collaborative branded entertainment campaign with DreamWorks Animation’s “The Croods” motion picture for the global launch of the all-new Carens MPV (known as ‘Rondo’ in some markets).
In the U.S., the new brand identity system has given added momentum to Kia’s cutting-edge leadership in music, with significant credibility gained within the industry and with consumers thanks to continuing sponsorship of the MTV Music Awards and Van’s Warped Tour, along with the successful Soul hamster ad series and Super Bowl ads.
In addition, striking an appeal with Kia’s young-at heart target customers through major sports sponsorships such as the FIFA World Cup, Australian Open and NBA, along with a strong focus on digital and social marketing, have been key components driving the Kia brand forward globally. Over the past few years the Kia brand has garnered a significant presence within the digital realm by taking an innovative communications approach in connecting with customers online. Kia has more than 250 global and local social media profiles that constitute a reach of some 1.4 billion people who are having more than 300,000 Kia-related conversations daily in the form of comments, sharing, postings and mentions.
This latest recognition by Interbrand follows hot on the heels of Kia’s recent introduction to Interbrand’s 50 Best Global Green Brands 2013, in which Kia placed 37th this past June.
The 2013 edition of Interbrand’s annual ‘Top 100 Best Global Brands’ study was executed through a comprehensive brand performance analysis using best practice research methodology by expert analysts. The study measures a corporation’s financial performance in terms of the raw financial return to investors; role that a brand plays in the actual purchase decision; and brand strength, which is the ability of a brand to secure the delivery of expected future earnings.
Founded in 1944 as Kyungsung Precision Industry, Kia is currently Korea’s second largest car manufacturer and it’s oldest. From the company’s production of Korea’s first domestic bicycle, Kia moved on to producing Korea’s first motorcycle and the country’s first truck. Kia then became the first company in Korea to locally produce petrol car engines and the first domestic diesel engine. In 1979, Kia’s quality car production was recognised by the fact that two of the world’s leading European car makers chose the Korean car maker to build their ‘range topper’ models on their behalf – the Peugeot 604 and Fiat 132. But it was in the 1980s that Kia’s growth really took off. In 1986 Ford joined the list of car makers who looked to Kia to produce cars to be sold under their name, with the Festiva joining Ford’s line up first in the USA, then across the world, including in Australia for where Kia produced two generations of Ford’s entry-level car. Today, Kia produces a remarkably diverse range of vehicles sold in 190 countries around the world.