Cebu Pacific has proudly clinched third place as the country’s strongest brand for 2023. The recognition doesn’t stop there; the brand has also been hailed as one of the most valuable in the country. These accolades come from a comprehensive study conducted by a globally recognized London-based brand valuation consultancy firm.
Cebu Pacific’s Brand Strength Index Score
Cebu Pacific scored an impressive 81.0 on the Brand Strength Index, earning a AAA- rating as per Brand Finance’s 2023 report. This is an authoritative assessment of the most valuable and robust Filipino brands. The airline also made its debut on the list of the country’s most valuable brands this year, ranking 20th, with its brand value estimated at a staggering US$194 million.
The annual list released by Brand Finance, the global leader in brand valuation consultancy, was assembled following a global survey. This in-depth investigation considered the views of over 100,000 respondents from around the world, assessing their perceptions of more than 4,000 brands. Alongside the survey, an analysis of the companies’ marketing and research and development investments was conducted. Other factors considered included ratings by review sites, social media engagement, customer turnover, and market share.
The Determinants of Brand Strength
According to the report from Brand Finance, the determination of the strongest brands in the Philippines depends on a balanced scorecard. This scorecard carefully evaluates the marketing investment, shareholder equity, and overall business performance of each company. Furthermore, the brand value is associated with the “present value of earnings specifically related to brand reputation.”
Cebu Pacific’s Chief Marketing and Customer Experience Officer, Candice Iyog, expressed her gratitude for the recognition and the passengers’ trust and confidence. She affirmed that in the dynamic and challenging aviation industry, this distinction would motivate Cebu Pacific to enhance their services continuously. The ultimate goal is to guarantee the best travel experience for passengers while maintaining their commitment to safe, reliable, and affordable air transport.
Cebu Pacific’s Market Dominance
Cebu Pacific, known for its signature seat sales and year-round low fares, continues to be the top choice for many Filipinos. The airline had a dominant market share of 52% in July 2023. Since its inception in 1996, the airline has served over 200 million passengers, with more than 4.8 million passengers in the first quarter of 2023 alone.
Additionally, Cebu Pacific boasts an extensive domestic network among Philippine carriers. The airline currently flies to 35 local and 23 international destinations spanning Asia, Australia, and the Middle East.
The rise of Cebu Pacific as a leading brand in the Philippines is a shining beacon of the potential of Filipino companies on the global stage.
First love never dies. I fell in love with airplanes and aviation when I was a kid. My dream was to become a pilot, but destiny led me to another path: to be an aviation digital media content creator and a small business owner. My passion for aviation inspires me to bring you quality content through my website and social accounts. Aviation is indeed in my blood and blog!
