Estimated reading time 2 minutes, 9 seconds.
WestJet is the twentieth most valued brand in Canada, with a brand value of $736 million, according to Interbrand Canada’s 2014 Best Canadian Brands report. This is the first time the brand consultancy has included WestJet in its annual list of Canada’s most-valued brands.
According to Interbrand Canada, key factors in brand value include a financial analysis measuring the overall financial return to an organization’s investors or its economic profit; the role of brand which measures the portion of the consumer decision to purchase that is attributable to the brand relative to other factors; and brand strength, measuring the ability of the brand to create loyalty and continue to generate demand and profit into the future.
“The secret sauce for us is our people and they are an incredibly engaged and spirited workforce,” said Bob Cummings, WestJet’s executive vice-president, sales, marketing and guest experience. “Day-in and day-out, the way they interact with our guests and make them smile is our brand persona. It’s about making the travel experience as pleasant and stress-free as possible and owning the moment ̶ no matter if things are going right or wrong. Our people are empowered to make choices, to care for our guests and be the brand, and have some fun along the way.”
Interbrand Canada’s fifth biennial 2014 Best Canadian Brands report examines and ranks Canada’s top 25 brands by brand value. The total value of the 25 best Canadian brands is $72.8 billion, an increase of $2.6 billion over the total value of the 2012 ranking. Recognized as the global standard for brand valuation, Interbrand’s methodology seeks to provide a rich and insightful analysis of brands, providing a clear picture of how the brand is contributing to business results today, together with a roadmap of activities to ensure that it is delivering even more tomorrow.
