Indian two-wheeler major Bajaj Auto has achieved another milestone by winning two prestigious global recognitions. The company stood fifth on the list of Most Innovative Indian Companies and is the only automotive company featuring in the coveted list of Forbes World’s Top 100 Most Innovative Companies of the year 2014. In addition to that Bajaj Auto was also ranked India’s 5th most valuable Brand, with a value of USD 3 billion, according to the first ever BrandZ Top 50 Most Valuable Indian Brands ranking.
Speaking about these latest achievements, Rajiv Bajaj, Managing Director said, “In business everything is determined by one thing – its strategy. In a hypercompetitive world, the sole purpose of a business strategy is to differentiate the business from its competition. A sound strategy does this by creating new categories for its brands to dominate, rather than have them unimaginatively serve existing categories.”
He further added, “Our Pulsar, Discover, & RE brands are a result of such a strategy at Bajaj, making us the world’s most profitable auto company, with almost half our sales coming from overseas markets.”
According to Forbes, measurement of innovation is an evaluation of the investors’ ability to identify firms they expect to innovate now and in the future. Companies are ranked by their innovation premium: the difference between their market capitalization and a net present value of cash flows from existing businesses (based on a proprietary formula from Credit Suisse HOLT).
The combined brand value of the BrandZ Top 50 Most Valuable Indian Brands is almost USD 70 billion. Carried out by WPP’s marketing and brand consultancy Millward Brown, the valuation is the only one in India that takes into account consumers’ opinion of brands to calculate the contribution that product brands make to business success.
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