作为由《经济观察报》与香港管理协会共同主办的行业权威奖项，杰出品牌营销奖已走过二十余年历程，持续聚焦中国营销实践的创新与变革。本届年会 以"品牌经济与流量经济的碰撞"为核心议题，旨在挖掘具有行业代表性的价值案例，推动品牌竞争从"流量争夺"迈向"价值深耕"。 今年，经过两个月紧张而激烈的案例征集，我们共收到超200个案例报名，组委会从中遴选出共91个入围案例进入终审赛段。这些案例聚焦新场景、新应 用，以更巧的触角、更暖的视角，探索品牌内容与市场洞察的深度融合，实现品牌与流量的双向奔赴。 ▼查看终审入围案例 在这一背景下，本届终审会汇聚了来自学界、企业、品牌方与广告行业的权威专家，组成多元视角的评审阵容，共同甄选具有标杆意义的年度案例。 ▼右滑查看评委海报 白志伟 同程旅行CMO 余 龙 遥望科技副总裁 朱 磊 格力电器市场总监 终审评委阵容（排名不分先后）： 王咏静 《现代广告》杂志出品人、经观传媒总裁 文 钊 经济观察报执行总编辑 熊 伟 对外经贸大学国际商学院案例研究中心主任 万木春 《中国广告年鉴》（广州）编纂暨中国品牌高质量发展研究中心执行主任 马旗戟 中国商务广告协会数委会副理事长 徐 郢 合动力咨询 ...

Core Viewpoint - The marketing competition among sports brands has intensified ahead of the 2026 FIFA World Cup, with Adidas showcasing its new jerseys and official match ball at the China International Import Expo, aiming to leverage the event's global appeal to enhance consumer engagement and brand loyalty [1][3][8]. Group 1: Adidas Marketing Strategy - Adidas has unveiled jerseys for national teams including Germany, Argentina, Spain, and Italy, incorporating classic elements and climate-adaptive technology for the North American conditions [1][3]. - The company has sponsored 22 teams and aims to use technology to enhance player performance while also fostering a deeper love for football among fans through exclusive gear [3][4]. - Adidas' CEO has indicated a shift towards blending fashion with football, planning to launch a second away jersey that emphasizes style and cultural connection [4]. Group 2: Competitor Activities - Nike has introduced Aero-FIT cooling technology for its national team jerseys and has launched a promotional campaign featuring top players to build anticipation for the World Cup [4][6]. - PUMA has signed a long-term partnership with the Portuguese Football Association, planning to provide gear for all teams, reflecting confidence in the upcoming World Cup [6]. - Under Armour is focusing on coaching staff, having appointed Arsenal's head coach as a brand ambassador, indicating its strategy to establish a foothold in a market dominated by larger brands [6]. Group 3: Marketing Insights and Trends - According to Guoxin Securities, effective brand marketing is crucial for establishing long-term consumer recognition, with a noted correlation between marketing expenditure and brand performance [6][7]. - Adidas' marketing spending has historically been around 12% of revenue, with a recent focus on digital channels leading to a decline in brand heat, while a return to sports marketing during the 2022 World Cup resulted in over 50% growth in football category sales [7]. - The 2026 World Cup is expected to be the largest and most inclusive, with ticket sales exceeding 1 million, indicating significant consumer interest and potential for brand engagement [7][8].

Financial Data and Key Metrics Changes - Revenue for Q2 was CAD 273 million, a 2% increase from CAD 268 million in Q2 of the previous year, but down 1% on a constant currency basis [13] - Adjusted net loss attributable to shareholders was CAD 13 million, or CAD 0.14 per share, compared to a profit of CAD 5 million, or CAD 0.05 per share in Q2 of fiscal 2025 [21] - Gross margin expanded 110 basis points year-over-year to 62.4%, primarily due to a favorable channel mix [18] Business Line Data and Key Metrics Changes - Direct-to-consumer (D2C) revenue increased by 21%, with comparable sales growth of 10%, led by North America and APAC [14] - Wholesale revenue decreased by 5%, in line with expectations, as the company focuses on elevating brand positioning [15] - Revenue from other channels totaled CAD 10 million, down from CAD 27 million last year, reflecting a pullback in activities [16] Market Data and Key Metrics Changes - In North America, D2C comparable sales grew in the low teens, but overall regional revenue was down 8% year-over-year due to a shift in channel mix [16] - APAC revenue increased by 20%, driven by growth in both D2C and wholesale channels, with mainland China leading the way [17] - EMEA revenue was down 7% year-over-year, with strong performance on the continent but challenges in the U.K. market [17] Company Strategy and Development Direction - The company is focused on expanding product offerings to enhance year-round relevance, with new products driving notable growth in the D2C channel [5] - Marketing investments are aimed at building brand heat and cultural relevance, with new collaborations and campaigns enhancing consumer engagement [6] - The company is strategically developing channels to deliver an elevated experience, with a focus on disciplined retail execution and store network expansion [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the direction and foundation for long-term growth, highlighting strong D2C performance and positive indicators for the second half of the year [10] - The company is entering its peak season well-positioned, with a clear focus on translating progress into sustained profitable growth and stronger margins [10] - Management acknowledged that while SG&A expenses are higher due to investments, they are focused on operating margin expansion moving forward [13] Other Important Information - Inventory was CAD 461 million, down 3% from last year, reflecting stronger consumer demand and tighter inventory management [21] - The company successfully amended its term loan, extending the maturity until 2032, which solidified its capital structure [22] Q&A Session Summary Question: What initiatives are prioritized to sustain DTC comp sales momentum? - Management highlighted better staff training, sharper channel execution, and increased product newness as key factors driving DTC success [26][27] Question: Any thoughts on U.K. softness or other cautious regions? - Management noted that the U.K. softness is consistent with trends seen across many brands, while continental Europe remains strong [31] Question: Can you discuss the confidence in sustaining comp momentum across regions? - Management expressed encouragement from consistent performance across markets and emphasized the importance of new product offerings [35] Question: What factors will drive changes in margin performance? - Management indicated that positive comps, effective investment returns, and disciplined cost management are critical for margin improvement [39]

Core Viewpoint - The founder of Haowangshui, Sun Mengge, reflects on the importance of marketing in the beverage industry, emphasizing that the current transformation in China's retail channels is more significant than mere marketing efforts [1][3]. Group 1: Company Overview - Haowangshui has established itself in the competitive beverage market by creating a niche for "new-style herbal sparkling fruit juice" within five years of its inception [3]. - The flagship product "Wang Shan Zha" gained popularity through a collaboration with singer Gong Linna, showcasing the brand's innovative marketing strategies [1][3]. Group 2: Marketing Strategy - Sun Mengge highlights the importance of brand marketing, allocating one-third of the budget to enhance brand quality, another third to create scene-based products, and the remaining third to social network marketing [9]. - The brand's unique identity is reinforced through its product names, all incorporating the character "Wang," which symbolizes hope and positivity [7][9]. Group 3: Product and Channel Dynamics - Haowangshui's success is attributed to its product quality and innovative channel strategies rather than solely relying on marketing [11]. - The company has only two major products, "Wang Shan Zha" and a recently launched "care series" of coix seed water, both achieving significant sales, with coix seed water surpassing 100 million bottles sold [11][12]. - The brand has managed to maintain a competitive edge despite the influx of similar products in the market, thanks to its unique ingredient sourcing and production methods [12][14]. Group 4: Industry Trends - The beverage industry is undergoing a systemic transformation, with retail channels evolving to break the monopoly of large brands, allowing new entrants like Haowangshui to thrive [3][14]. - There is a noticeable shift in the attitude of distributors, who are now more eager to partner with innovative brands, reflecting a broader change in the retail landscape [14].

Financial Data and Key Metrics Changes - Net sales in Q3 2025 increased by 12% to $40.8 million compared to the prior year [4][13] - Adjusted EBITDA loss was $1.7 million, slightly worse than the adjusted EBITDA loss of $1.5 million in the prior year [16][17] - Gross margin decreased to 45.6%, down 350 basis points from 49.1% in Q3 2024, primarily due to inventory obsolescence and aluminum tariffs [14][17] - The company raised its full-year net sales guidance to a range of $162 million to $164 million, up from the previous guidance of $158 million to $163 million [17] Business Line Data and Key Metrics Changes - The company reported strong performance from new product launches, including Strawberry Lemon Burst and Peaches and Cream, which contributed to brand momentum [8][9] - Marketing expenses increased to $4.9 million, or 12.1% of net sales, compared to $3.5 million, or 9.7% of net sales in Q3 2024, reflecting increased investments in brand marketing [16] Market Data and Key Metrics Changes - The company noted an increase in household penetration, now over 5%, driven by new consumers, particularly higher-income millennials with children [27][28] - The natural soda category is operating around 20% household penetration, indicating significant growth potential for the company [28] Company Strategy and Development Direction - The company is focusing on three strategic growth pillars: high-impact brand marketing, accelerated product innovation, and expanded distribution [4][12] - The expansion into Walmart's Canadian stores is seen as a positive indicator for future growth opportunities [21] - The company plans to roll out new packaging across its legacy flavors in early 2026, which is expected to enhance brand visibility and consumer engagement [10][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the brand's ability to capitalize on the shift towards better-for-you products, with strong consumer engagement and brand consideration [5][12] - The company anticipates a positive adjusted EBITDA in 2026, despite ongoing challenges such as aluminum tariffs [43] Other Important Information - The company ended the quarter with approximately $26 million in cash and cash equivalents and an undrawn revolving credit line of $20 million [17] - The company is committed to investing in customer acquisition while managing costs effectively to achieve profitability [43] Q&A Session Summary Question: Expansion with Walmart in Canada - Management confirmed that the expansion into over 400 Walmart stores in Canada is a positive indicator but not the primary driver of the raised sales outlook [21] Question: New Packaging Distribution - The new packaging is expected to be rolled out to the entire portfolio by early 2026, with initial positive indicators from consumer research [24] Question: Household Penetration and Market Opportunity - Management highlighted that new consumers, particularly millennials, are driving household penetration growth, with significant room for expansion in the better-for-you category [27][28] Question: Energy Drinks Category - Management acknowledged the potential in the energy drinks category but emphasized the current focus on soda, with plans to explore energy drinks in the future [30][31] Question: Brand Awareness and Marketing Impact - Management reported double-digit increases in purchase intent and consideration, indicating effective marketing strategies [33] Question: Seasonality and Revenue Guidance - Management noted that distribution gains and regional rotations are contributing to a less pronounced seasonal decline in Q4 compared to previous years [36] Question: Shelf Space Expectations - Management discussed ongoing improvements in shelf space at Walmart and other retailers, with a focus on driving velocity and expanding distribution [40][41] Question: Profitability Outlook - Management is optimistic about achieving positive adjusted EBITDA in 2026, balancing investments in growth with cost management [43]

Financial Data and Key Metrics Changes - The company achieved a 13% year-over-year revenue growth, marking the third consecutive quarter of double-digit growth [3][10] - Adjusted EBITDA improved by 18% year-over-year, reaching EUR 16 million [3][11] - Total revenue for Q3 2025 was EUR 165.6 million, a 13% increase compared to Q3 2024 [10][11] - Net profit for the quarter was EUR 11 million, exceeding expectations [11] - Operational expenses decreased by EUR 12.3 million, totaling EUR 153.4 million, primarily due to the non-recurrence of a EUR 30 million impairment charge from the previous year [11][12] Business Line Data and Key Metrics Changes - Referral revenue growth was 14% in the Americas, 12% in the Rest of the World, and 9% in Developed Europe [10] - The growth was driven by increased branded channel traffic and product improvements enhancing booking conversion [11] Market Data and Key Metrics Changes - Developed Europe faced headwinds from strong prior-year comparisons, but trends normalized over the course of Q3 2025 [10] - Unfavorable foreign exchange headwinds negatively impacted revenue by approximately 4% globally [11] Company Strategy and Development Direction - The company aims to continue its double-digit growth trajectory by focusing on branded growth and enhancing the core hotel search experience [4][5] - Strategic priorities include branded growth, improving marketing efficiency, and creating more value for partners [4][8] - The company plans to optimize existing markets rather than expand, which is expected to gradually increase profitability [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving mid-teens revenue growth for the full year of 2025 and a positive adjusted EBITDA of at least EUR 10 million [10][11] - The company is optimistic about the growth potential in its core markets, which still have substantial runway for growth [25] Other Important Information - The company consolidated Trivago Deals Limited into its operations, viewing it as integral to future growth [14] - AI initiatives have significantly improved user experience and operational efficiency, allowing the company to operate with a smaller team [36][52] Q&A Session Summary Question: What percentage of users could be logged in over the next 12-18 months? - Management indicated that while there is no fixed target, reaching around 30% logged-in users would signify a core user segment with better engagement and conversion [16][18] Question: Could Trivago play a role in the B2B space? - Management acknowledged the potential for B2B opportunities but emphasized a current focus on leisure travel, where they see significant growth potential [20] Question: How should we think about growth in the core business versus Holisto? - Management expects both segments to grow double digits, with a focus on optimizing existing markets for profitability [23][24] Question: What improvements are being seen in marketing efficiency? - The majority of growth is attributed to branded growth, with compounding effects expected to enhance profitability over time [27][28] Question: What incentives are provided to logged-in users? - Logged-in users receive private deals, which significantly improve engagement and conversion rates [29][30] Question: How is Trivago positioned against AI-driven tools? - Management noted that while AI tools are growing, they do not see a significant impact on their traffic, emphasizing the strength of their brand and user experience [33][35] Question: Will the 2026 guidance reflect margin expansion? - Management indicated that the focus will be on optimizing existing markets and taking profits to the bottom line rather than expanding into new markets [41][42] Question: Are there any channel conflicts with OTAs due to Holisto? - Management clarified that Holisto, now Trivago Deals, aims to create value for partners and users without significant channel conflicts [54][56]

Core Viewpoint - The company, Guangdong Xinbao Electric Co., Ltd., reported a decline in total operating revenue for the first three quarters of 2025, while achieving a growth in net profit and cash flow from operating activities, indicating a focus on cost control and efficiency improvements amidst a challenging macroeconomic environment [4][5]. Financial Performance - Total operating revenue for the first three quarters of 2025 was CNY 1,228.36 million, a decrease of 3.20% year-on-year, with foreign revenue at CNY 976.46 million (down 3.46%) and domestic revenue at CNY 251.89 million (down 2.18%) [4]. - Profit before tax reached CNY 104.87 million, an increase of 1.84% year-on-year, while net profit attributable to shareholders was CNY 84.09 million, up 7.13% [5]. - Basic earnings per share increased by 8.49% to CNY 1.0418 [5]. - Operating cash flow net amount was CNY 103.71 million, a significant increase of 69.35% year-on-year, primarily due to increased cash receipts from sales [5]. Shareholder Information - As of September 30, 2025, the total number of shareholders was 25,368, with a total of 27,029 including margin accounts [6]. - The company repurchased 6,356,700 shares, accounting for 0.78% of the total share capital, as part of a plan to use repurchased shares for employee stock ownership plans [6][10]. Share Buyback Plan - The company plans to use CNY 80 million to CNY 100 million for share repurchases, with a maximum price of CNY 22 per share, expecting to buy back approximately 363,636 to 454,545 shares [7][10]. - The buyback is intended to support employee stock ownership plans and is expected to be completed within 12 months from the board's approval [7][10]. Project Delays - The company announced a delay in the completion of two fundraising projects: the "Creative Small Appliances Construction Project" and the "Brand Marketing Management Center Construction Project," extending the completion deadline to December 31, 2025 [13][21]. - The delay is attributed to changes in the external business environment, including increased tariffs affecting export sales and a decline in domestic small appliance market demand [22][24]. Market Outlook - Despite the current challenges, the domestic small appliance market is expected to grow, driven by rising consumer demand and the company's focus on innovation and brand development [29]. - The company aims to enhance its market competitiveness through improved logistics and quality management, as well as by leveraging its product technology service platform [28][29].

Investment Rating - The report maintains a "Strong Buy" investment rating for the company [3][5]. Core Views - The company reported a revenue of 6.7 billion yuan in Q3, representing a year-on-year growth of 57%, and a net profit attributable to shareholders of 550 million yuan, up 46% year-on-year [1][5]. - The company is expected to continue its strong growth trajectory, with projected net profits of 2.1 billion yuan, 2.8 billion yuan, and 3.7 billion yuan for the years 2025, 2026, and 2027, respectively [5]. - The report highlights significant growth in various product segments, including a 59% increase in two-wheeler sales and a doubling of revenue from lawnmowers [5]. Financial Data and Valuation - The total revenue for 2023 is projected at 10.22 billion yuan, with a year-on-year growth of 1%, and is expected to reach 35.24 billion yuan by 2027, with a growth rate of 31% [2][12]. - The company's earnings per share (EPS) are forecasted to increase from 0.83 yuan in 2023 to 5.18 yuan in 2027, reflecting a strong growth outlook [2][13]. - The price-to-earnings (PE) ratio is expected to decrease from 78.5 in 2023 to 12.6 in 2027, indicating improving valuation metrics as earnings grow [2][13]. Product Performance - The two-wheeler segment achieved sales of 1.49 million units in Q3, with revenue of 4.5 billion yuan, marking a 72% increase year-on-year [5]. - The lawnmower business continues to show strong growth, contributing 660 million yuan in revenue, up 36% year-on-year, with flagship products achieving double the average industry efficiency [5]. - The company is enhancing its brand presence through marketing initiatives, including a sci-fi short film that garnered over 74 million views on social media [5].

Core Insights - The article discusses the rise and fall of Yangyuan Beverage and its flagship product "Six Walnuts," highlighting the company's journey from peak sales to significant losses and market decline [1][20]. Company Overview - Yangyuan Beverage was founded in 1999, initially struggling with debts of 9 million and nearly unable to pay employee salaries [3]. - The company gained prominence with "Six Walnuts," which became a popular gift beverage, achieving sales of 91.17 billion in 2015, equating to 25 billion cans sold that year [11]. Product Development - The initial product was unpalatable, prompting the founder to invest time in improving the taste to make it more appealing to consumers [7]. - The marketing strategy included positioning "Six Walnuts" as a nutritious gift, leveraging high-profile advertising campaigns, including a 158 million sponsorship of the show "The Brain" [9]. Market Strategy - The company adopted a "rural encirclement of cities" strategy, focusing on smaller markets before expanding nationwide [11]. - By 2017, the company went public, with a share price of 78.73, leading to a market valuation peak of 500 billion [13]. Challenges and Decline - The product faced criticism for misleading labeling regarding its nutritional content, leading to a loss of consumer trust [15]. - The beverage market evolved, with competitors introducing innovative products, while "Six Walnuts" stagnated in development, focusing more on advertising than product improvement [17]. - The COVID-19 pandemic severely impacted sales, with revenue dropping to 44.27 billion in 2020, less than half of 2015's figures [20]. Current Status - By 2023, the company faced further issues, including a significant financial loss due to a distributor's fraud, leading to a market value drop of over 200 billion [22]. - Despite maintaining around 60 billion in revenue, the company struggles to regain its former market position [22]. Future Prospects - The founder's recent investment in the semiconductor industry raises questions about the company's direction and potential for recovery [26].

Core Insights - The "Free Duck for College Students" campaign initiated by Zhou Hei Ya International Holdings Limited successfully concluded, distributing 300,000 products and registering over 120,000 student members, with total online exposure exceeding 140 million [1][3]. Group 1 - The campaign allowed college students to receive a free product by adding Zhou Hei Ya's welfare officer and completing student verification, with an investment of over 4 million yuan during the back-to-school season [3]. - Zhou Hei Ya's marketing strategy included both online and offline approaches, reaching over 3.2 million students across more than 250 universities in nine major cities [3][4]. - The campaign not only provided products but also resonated emotionally with young consumers, establishing a long-term brand association of "Zhou Hei Ya = Youth Memory" [3][4]. Group 2 - By focusing on college students, Zhou Hei Ya achieved widespread product experience and planted the emotional seed of "Sweet and Spicy Youth" in the minds of Generation Z, successfully transforming a short-term campaign into a long-term brand asset [4]. - The founder of Zhou Hei Ya expressed a commitment to infusing youthful energy into "Chinese flavors" through a blend of unwavering craftsmanship and passionate innovation [4].