Cebu Pacific (PSE: CEB), the Philippines’ leading carrier, ranks third among the many strongest brands within the Philippines for 2023, and one in all the country’s most precious brands overall, in line with a study by a London-based brand valuation consultancy firm.
CEB received a Brand Strength Index rating of 81.0, corresponding to a rating of AAA-, in line with Brand Finance’s 2023 report on the most precious and strongest Filipino brands. CEB also placed twentieth among the many Philippines’ most precious brands for this yr — the primary time the airline made it within the list — with a brand value value US$194 million.
“We’re humbled and honored to be named among the many strongest and most precious brands within the Philippines. This affirms our commitment to creating air travel cheaper and accessible for each sort of Juan,” said Candice Iyog, CEB Chief Marketing and Customer Experience Officer.
Brand Finance, the world’s leading brand valuation consultancy firm, published the annual list of the most precious and strongest brands following a survey of over 100,000 respondents worldwide to evaluate their perception of greater than 4,000 brands.
The survey was complemented with an evaluation of the businesses’ investments in marketing and research and development, in addition to rankings by review sites, social media engagement, customer churn, market share, amongst others.
In keeping with Brand Finance’s report, the Philippines’ strongest brands are determined based on a balanced scorecard that evaluates the marketing investment, shareholder equity, and business performance of every company.
Brand value, then again, pertains to the brand’s “present value of earnings specifically related to brand repute,” it added.
“We’re also grateful for the trust and confidence of our passengers. On this dynamic and difficult industry, this distinction will further motivate Cebu Pacific to continually improve our services and ensure one of the best travel experience for our passengers, together with our commitment to offer secure, reliable, and inexpensive air transport for each Juan,” Iyog said.
With its signature seat sales and year-round low fares, CEB stays because the airline of selection for a lot of Filipinos, maintaining a market share of 52% for July 2023. Since 1996, the airline has flown over 200 million passengers, with greater than 4.8 million passengers serviced in the primary quarter of 2023 alone.
CEB also offers the widest domestic network amongst Philippine carriers, currently flying to 35 local and 23 international destinations across Asia, Australia, and the Middle East.
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