Coca-Cola, Apple and IBM became the world’s three most valuable brands for 2013, according to Interbrand’s annual Best Global Brands report. The three global companies were followed by Google and Microsoft. These brands can be as viewed the most beloved brands in the world. Among Korean brands, Samsung Electronics ranked ninth in the report. Hyundai Motor Co. and Kia Motors Corp. placed 53rd and 87th, respectively.

Feel marketing

Kevin Roberts, CEO of the advertising agency Saatchi & Saatchi, once said, “People need love, and the feeling of it is also the ingredient to make brands perfect.”

“Feel marketing” is a type of marketing strategy which builds brand asset by inducing consumers to have special feelings toward a brand. To make this strategy successful, marketers should understand the types of emotions that consumers might experience during the purchasing process and what kind of marketing stimulus would lead to a certain type of emotional response.

A beloved brand causes consumers to feel a variety of emotions, more typically felt between friends, relatives and lovers. Consumers build and develop relationships with such brands by making them meaningful, with more than just a value of practical use.

The feeling of love toward a brand is not just a temporary favorable feeling, but more like an absolute feeling beyond repeat-purchase loyalty. This is a relationship based on emotions different from one that is based on rational and logical trust and respect. As people do to their loved ones, consumers respect the personality of their favorite brands as well, constantly supporting them with encouragement. Being a beloved brand is an ideal relationship with consumers that all brands should pursue. 

Characteristics of beloved brands

Beloved brands have three things in common: intimacy, commitment and passion. Consumers tend to get accustomed to a brand that they have long been exposed to. This is what we call intimacy and it helps consumers to have a comfortable and familiar feeling toward a brand. Also, consumers have a tendency to continuously buy and use the same brand, which is a so-called behavioral loyalty. When it comes to building brand loyalty, not only affection but also consumers’ habits and social environment, as well as their economic situation, have a strong influence on it.

At last, passion refers to motivation to buy and use a certain brand. When brands come up with an innovative function, incredible design or socially strong symbol, consumers tend to have longing and aspiration to them. The most ideal brands are those with all three factors.

Best global brands

The aforementioned best global brands have a stable position at the top. While the ranking of lower-placed brands fluctuates, that of the top-ranked remains unchanged every year. As people put in a lot of effort to love and to be loved, the same goes for brands. To be a beloved global brand and keep that position, constant and well-organized feel-marketing management is necessary.

By Park Heung-soo, Yonsei University School of Business