Brand Value In The Global Economy
First, estimates report that in 2011 global investments in branding were worth USD 466 billion with an increasing proportion of the total in middle-income economies such as India and China. In fact, branding investments as percentage of GDP steadily increased in China between 1998 to 2010. At the same time, US statistics report a drop in branding investments from more than 1.2% to less than 0.8% of GDP. This change is particularly significant if we consider the parallel activity in filing trademarks. Indeed, trademark filings (based on class counts) in middle-income economies represents 43% of the world wide filing activity in 2011, compared with 35% in 2006. The same statistics for high-income economies show a decrease of ten percentage points from 2006, reaching 45% of the worldwide filings in 2011. The face of branding has changed in the last two decades of globalization. As a result, there is a pressing need for experts and skilled branding personnel in expanding nations like India, China, but also in Brazil, Korea and eastern European countries. Indeed “brands and trademark retain a local character that is persistent over time, partially due to language-related factors”. This phenomenon challenges investments and expansion strategies.