Brand Finance Plc, a top independent brand valuation consultancy, has opened its client account in India and has pitched for another large business in the country.
Brand Finance India, a recent entrant into the country, is based in Bangalore and is headed by Mr Unni Krishnan.
Mr David Haigh, CEO, said that the company has made a beginning in the country that was in tune with its strategy to expand in emerging economies.
"We are a rapidly growing consultancy in the emerging economies of North America, South America, China and Australasia," he added.
Mr Haigh also said that the firm has already won the first client mandate in India, and is working with a UK business that has significant interests in the Indian market.
Mr Haigh said that he hoped for an educated customer base in the country, adding that Brand Finance wants to redefine brand value debate focusing on branded business valuation (as an intelligent tool for marketing strategies) against trademark valuation that merely puts a figure at any point in time.
Brand Finance is enthused about India as the country was advanced in terms of marketing and accounting norms.
"Another reason is the educated population which makes it easy to involve India executives." The Indian team will also be involved in the firm's overseas projects which will be looked at as "partly outsourcing and partly involving them in other projects".
The branded Indian businesses are at a critical juncture as global brands have a tendency to beat local brands, while integration with the world market also provided well-directed domestic brands to look for opportunities overseas. Brand Finance works with clients in sectors such as alcoholic beverages (SABMiller, Heineken, Allied Domecq), clothing & textiles (Austin Reed Group), Consumer Products (Slumberland), financial services (NatWest Bank, Barclaycard), media & entertainment (BBC, Guardian), petrochemicals (Shell, Castrol) and telecom (Vodafone).
He said the company's competition looked at brand valuation as part of its strategy "to gain a foot in the door," while Brand Finance belonged to the school that believes valuation is not mumbo-jumbo but requires transparency from the practitioners on what they are doing.
Our typical marketing budget is usually 10 per cent of the topline spend