The top brands in Canada - based on total brand value - include RBC Financial Group, TD Canada Trust, Petro-Canada, Bell, and Shoppers Drug Mart, according to the 'Best Canadian Brands 2006' report from brand consultancy Interbrand.
The Best Canadian Brands 2006 report highlighted the top 25 companies that have created and sustained strong brands in Canada, ranking them by revenue, and by sector.
According to Bev Tudhope, chief executive for Interbrand Canada, "Everything you do in business defines your brand, from how you answer the phones, to how your product is packaged, to how you reward or motivate employee behaviour. We found that successful companies are creating a total brand experience that builds loyalty and secures future earnings."
Best brands by category
When it came to analysing brands in different categories, some stood out as clear leaders. For example:
- Financial Services
RBC Financial Group topped the ranking at #1, followed by TD Canada Trust (#2), BMO Financial Group (#7), Scotiabank (#9), CIBC (#13), Investors Group (#15), National Bank of Canada (#16), CI Investments (#17) and Mackenzie Investments (#19). According to Interbrand, RBC's broad, but aligned, product and service set is presented through a client-centric message, which supports its stated vision of "always earning the right to be our clients' first choice".
Shoppers Drug Mart offers consumers a powerful retail experience and leads the category at #5, followed by Canadian Tire (#8), Rona (#14), Jean Coutu (#20), Mac's/Couche-Tard (#21), Loblaws (#23) and Sobeys (#24). Shoppers Drug Mart has actively developed a unique merchandising mix and service model that others have found difficult to reproduce.
Tim Hortons may sell coffee but the company produces true loyalty, and was ranked #6. With market penetration in Canada that exceeds that of Starbucks, Tudhope quipped, "Tim Hortons is Canada's fourth place, after home, work, and the hockey rink."
More than any other business in Canada, Interbrand feels that Petro-Canada (at #3) has successfully communicated 'Canadian-ness' through its physical locations. In a highly commoditised business, Petro-Canada has focused on solid, reliable service in clean and well-merchandised service stations. It was followed by Husky (#12) and Suncor (#25), both of which are also differentiated by solid retail networks.
Bell, at #4, has newfound customer-centric strategy that reinforces simplicity at every touchpoint. Telus (#10) and Rogers (#18) are strong challengers. According to Interbrand, the runners-up in this category still need to get customers to proudly announce their telecoms provider.
Canadian passion for home-brewed beers has been in decline for some time, while Molson (at #11) has held onto the equity and goodwill built up over a century, followed by Labatt (#22) which recognised that brand value is about executing its strategy in a consistent and fun way that reflects the purpose of the products. According to Tudhope, "Both Molson and Labatt have produced great products through the decades, but even that no longer guarantees success in today's marketplace."
Top 25 brands
Interbrand's method for valuing brands examines financial strength, importance in driving consumer selection, and the likelihood of ongoing branded revenue. The report looks at brand value as being a top-line measure of economic performance driven by the brand, and provides a comparison of what each brand is worth overall, and among competitors.
|1.||RBC Financial Group||3,989.6|
|2.||TD Canada Trust||3,167.9|
|5.||Shoppers Drug Mart||2,830.6|
|7.||BMO Financial Group||1,854.6|
|16.||National Bank of Canada||298.5|
Source: Interbrand Canada
To qualify for the Best Canadian Brands analysis, companies have to be publicly traded, obtain at least 65% of their revenues from within Canada, and have a market-facing presence.