1. Peter Walshe BrandZ Global Director Millward Brown

2. Let’s start with a short description of the most rigorous brand valuation method in the World

3. Financial Value X = Brand Contribution Brand Value

4. Financial Value X = Brand Contribution Brand Value The secret ingredient

5. WHAT IS ‘BRAND’? “A strong brand is not the same as a business or a trademark. A brand – global or local - derives its value from creating a strong relationship with consumers.”

6. Cierra los ojos! WHAT IS ‘BRAND’?

7. DO NOT THINK OF…

8. Valuable brands have STRONG RELATIONSHIPS with consumers and are MEANINGFULLY DIFFERENT

9. The Brand Relationship is like dating… Relationships start with awareness At first you are cautious The first date goes well A strong liking is developing Now a very strong relationship Presence Relevance Performance Advantage Bonding

10. Advantage Performance Relevance Presence Bonding Top 50 LatAm All LatAm (6.977 brands) More valuable brands have stronger relationships

11. Top 50 LatAm Top 50 Global LatAm compares favourably with Global brands Advantage Performance Relevance Presence Bonding

12. The POWER of the brand: Brand Contribution

13. Coca Cola LatAm Bonding only 50% Advantage only 26% Advantage Performance Relevance Presence Bonding

14. Advantage only Performance/ No Presence Coca Cola LatAm Bonding only 1 23 26 50 Customers % Relevance/ Presence Customers % 0 10 17 72 Value %

15. Coca Cola LatAm Brand Contribution Percentage These people account for the vast majority of sales because they are more loyal to the brand. Advantage Performance Relevance Presence Bonding

16. X = X = The Brand Contribution effect…

17. Brand Contribution effect: Example from Global Valuations

18. Interbrand value $28bn BRAND CONTRIBUTION AVERAGE Values very similar BRANDZ™ value $23bn

19. Interbrand value $28bn BRAND CONTRIBUTION LOWER Interbrand fails to take account of lower Brand Contribution BRANDZ™ value $13bn

20. Interbrand value $34bn BRAND CONTRIBUTION HIGH Interbrand fails to take account of high Brand Contribution BRANDZ™ value $183bn

21. GLOBALBRAND VALUE 20062012 Interbrand BRANDZ™ $183BN $34BN $9bn $16bn BRAND CONTRIBUTION 3 BRAND CONTRIBUTION 4

22. What about investing your money in strong Brand Contribution?

23. STRONG BRANDS STRONG BRANDS PERFORM BrandZ Global Valuations APR 06MAY 12 37.5% 0.4% S&P 500

24. What drives Brand Contribution? Global LatAm Local Top 50 Top 50 LatAm Popularity302208117 Affinity192139 86 Difference107 42 90 Price 35 20210 Source: BrandZ (Index Average = 100)

25. What drives Brand Contribution? Global LatAm Local Top 50 Top 50 LatAm Popularity302208117 Affinity192139 86 Difference107 42 90 Price 35 20210 Source: BrandZ (Index Average = 100)

26. What drives Brand Contribution? Global LatAm Local Top 50 Top 50 LatAm Popularity302208117 Affinity192139 86 Difference107 42 90 Price 35 20210 Source: BrandZ (Index Average = 100)

27. Top Brands are more trusted, recommended and more desirable Global LatAm China Top 50 Top 50 Top 50 Trust105104110 Recommendation104102106 Desire112112110 Source: BrandZ (Index Average = 100)

28. Character of Top Brands Global LatAm China Top 50 Top 50 Top 50 In Control 109Friendly 106Wise 108 Assertive 107Kind 105In Control 107 Creative 105Generous 104Friendly 105 Source: BrandZ (Index Average = 100)

29. Before we see some results… Let’s have a short QUIZ (5 questions)

30. Stand up please! If you get the answer wrong you will need to sit down again…

31. Q1. BRAND CONTRIBUTION Some brands generate more than their fair share of financial value because the brand contributes so much. Which one of these has the greatest Brand Contribution (in Argentina)? Guinness Heineken Quilmes 

32. Q2. BRAND TRUST & RECOMMENDATION Brands that are BOTH trusted by all and recommended by their users have heritage and contemporary relevance. Which one of these has the greatest TrustR (in Brazil)? Allianz Porto Seguro Sul America 

33. Q3. BRAND DIFFERENCE Brands that are different can have an advantage over others. Which one of these is rated most different (in Colombia)? Bing Taringa Wikipedia 

34. Q4. BRAND DESIRE Brands that create desire tend to justify their price premiums and can generate greater profits. Which one of these has the greatest Brand Desire(in Mexico)? Banamex Mexicana de Aviacion Telmex 

35. Q5. CHARACTER CLARITY Brands that have a distinct and defined character tend to be stronger. Which one of these has the clearest Character(in Chile)? Chrysler Ford Toyota 

36. Anyone still standing is a WINNER!

37. And brands that score well on these things will also be winners: Clear Character/Personality Recommendation by users Affinity/Desire/Popularity Trust Different

38. Amplify Meaningfully Different Experience Define Value Growth How brands drive value growth

39. Different Meaningful Source: LatAm 1,340 brands 2010-2011 (Average = 100) Brand Contribution 168 Meaningfully Different get more sales because of brand

40. Brand Contribution Different Meaningful Source: LatAm 1,340 brands 2010-2011 (Average = 100) 168 129 104 121 109 7853 76 93 Meaningfully Different get more sales because of brand

41. Meaningfully Different All brands LatAm 30% All brands worldwide 30%

42. Meaningfully Different Local brands LatAm 27% International brands LatAm 32%

43. Meaningfully Different LatAm Top 50 67% Global Top 50 68%

44. And now, the most valuable brands…

45. Combined value ($US) of Top 50 brands GlobalChinaLatAmBrazil 311bn 1,845bn 136bn 60bn

46. Now, it really is time to reveal the most valuable brands

48. Top brand in each country

49. Contribution of countries (% of $US brand value in Top 50) Number in Top 50 Brazil14 Mexico13 Chile12 Colombia 8 Argentina 2 LatAm 1

50. How LatAm compares (% value) LatAm China Global Financial254313 Telecoms192215 Retail19 3 5 B2B18 813 Consumer Goods161020 Technology -1127 Other 3 3 7

51. How LatAm compares (% value) LatAm China Global Financial254313 Telecoms192215 Retail19 3 5 B2B18 813 Consumer Goods161020 Technology -1127 Other 3 3 7

52. How LatAm compares (% value) LatAm China Global Financial254313 Telecoms192215 Retail19 3 5 B2B18 813 Consumer Goods161020 Technology -1127 Other 3 3 7

53. How countries differ (% value) Brazil Mexico Chile Colombia Argentina Financial32 29 1348 4 Telecoms 4 18 -2923 Retail 8 22 59 5 - B2B21 4 121866 Consumer Goods26 27 1348 4 Other 9 - 14 - -

54. And how about investing in these brands?

55. STRONG BRANDS STRONG BRANDS LESS VULNERABLE BrandZ LatAmValuations May 11June 12 -16.5% -23.6% MSCI LatAm

56. Finally… (10 thoughts)

57. LatAm ‘Top 50’ (should have some Peru brands in it!) Countries across Region are very different – but a STRONG BRAND is still a great investment wherever you are A strong brand gets its value from creating a UNIQUE RELATIONSHIP with consumers LatAm Top 50 are AS STRONG as any other Top 50 in the World Many local brands can learn lessons from the Top 50 and be less price driven and more MEANINGFULLY DIFFERENT

58. A DISTINCTIVE brand is more likely to attract consumer passion Brand relationships are built on experience of the brand. A genuinely good experience is VALUABLE Do not worry about POLARISING your audience, success in NOT about being all things to all people As a brand be TRUE to yourself throughout the organisation, with your suppliers and retailers, so that it eventually affects the customers Passionate users of your brand are your BEST ADVOCATES and should be looked after

59. ‘BUZZ’ means Money $511bn $112bn Value Earned Buzz Top 100 Global brands

60. Muchos Gracias!