Bayer is the fifth most respected brand in the US, according to the latest Corporate Branding Index survey of BrandPower, with only PepsiCo, Coca-Cola, Hershey and Harley Davidson faring better.
This level of BrandPower (a combination of familiarity and favourability) is consistent across Bayer’s major markets, the company’s head of corporate branding, Uwe Schmidt, told PMLiVE.
“Part of our business strategy is an optimised brand portfolio management with a strong focus on our corporate icon, the Bayer cross, and strong product brands,” he said.
“Our mission and brand promise Science For A Better Life is addressing the needs of many of our stakeholders and strongly supporting awareness and brand reputation.”
The annual survey by New York-based brand consultancy CoreBrand was established more than 20 years ago, and looks at some 1,000 companies in 54 sectors around the world.
CoreBrand measures the companies’ brand awareness by carrying out over 10,000 telephone interviews with US-based business decision-makers.
Bayer’s greatest strength, CoreBrand CEO James Gregory told PMLiVE, was its overall reputation.
The company’s “perception of management” and “investment potential” are holding steady, following significant progress in the last decade, he added, stressing that Bayer’s fifth place was in part a reflection of the other top brands being under pressure.
Bayer was in fourth place in the 2012 ranking, but fell a place in 2013 thanks to an improved performance from PepsiCo.