Royal Challengers strongest brand of IPL

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The Central Shaheed Minar premises being decorated by the students of Institute of Fine Arts, Dhaka University Sunday, on the eve of immortal February 21. — FE Photo by Shafiqul Alam

Royal Challengers Bangalore, the runners-up of the 2009 edition of the Indian Premier League (IPL) have emerged as the strongest IPL brand, according to UK's Intangible Business.
Intangible Business, a world leading brand valuation company, in collaboration with MTI Consulting, a fast growing international strategy consultancy, for the second successive year have released the IPL Brand Value Scoreboard 2010-a pioneering valuation aimed at measuring the strengths of the eight IPL franchises, said a press release.
Royal Challengers Bangalore, with a brand value of $37.8 million top the Brand Value Table, very closely followed by Kolkata Knight Riders ($37.7 million), Delhi Daredevils ($36 million), Chennai Super Kings ($36 million) and Mukesh Ambani's Mumbai Indians at $33 million. Despite winning last year's IPL, Hyderabad Deccan Chargers are sixth on the Brand Value Table with a brand value pegged at $32 million followed by Kings XI Punjab ($32 million). The winners of the first edition of IPL, Rajasthan Royals are at the bottom of the table with a value of $28 million. The Royal Challengers have moved up 5 places compared to last year's, to the top spot on the Brand Value Table.
Richard Yoxon, International Director, Intangible Business, believes, "The most valuable franchise brands have made the most progress off the field of play showing brand building is not just about winning, it's about capturing the hearts, minds and wallets of a passionate public."
Further explaining the rationale and methodology, the Global CEO of MTI Consulting Hilmy Cader says, "brand values are a reflection of a brand's ability to generate future income. It is a forward-looking study that uses historic performance and future trends to predict future activity. Last year's historical sales data was gathered for each franchise. To determine the strength of the brands, each brand was scored on three measures of brand strength, owner equity, awareness and perception. These attributes are a mixture of hard measures and soft measures of brand strength sourced from publicly available information and from a qualitative panel of cricket fans from each test-playing nation. Using this data, each brand was then valued using the relief-from-royalty methodology."