Brand new success for China's firms

08:28, May 10, 2010      

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Two people walk past a billboard advertising various brands including China Mobile, ICBC and the China Construction Bank. The three companies have recently been listed among the ranks of the Top 100 Most Valuable Global Brands 2010, according to the global market research and consulting firm Millward Brown. An Xin / China Foto Press

The likes of Google, Apple, Microsoft and McDonald's had better watch out.

Major Western brands are unlikely to be able to bestride the globe in the same way they have done over the past 100 years or more.

Many of the new brands of the future are as likely to come from emerging markets such as China, Brazil, Russia and India as from current developed markets.

According to the recent Brandz Top 100 Most Valuable Global Brands 2010 survey, produced by global market research and consulting firm Millward Brown, 13 of the world's leading 100 brands are from emerging countries, compared with just one four years ago when the survey was first produced.

China has seven in the top 100 with China Mobile heading the list in eighth position with a brand value of $52.6 billion, closely followed by ICBC in 11th spot, valued at $43.9 billion.

Other Chinese brands to make the list include Bank of China, China Construction Bank, PetroChina, Internet search engine company Baidu and China Merchants Bank.

The list also featured for the first time an Indian brand, ICICI, India's largest bank, as well as ones from Russia, Brazil and Mexico.

Some experts believe companies from emerging markets are making major inroads because they are learning how to harness new opportunities provided by the Internet, enabling them to target customers precisely using social networking sites and viral marketing techniques.

As a result they are stealing a march on some Western brand owners that are still wedded to traditional advertising and methods of marketing

The new technologies are enabling them to reach customers without the massive scale of investment normally required to achieve a global presence.

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