Monday, September 30, 2013

King of Brand is Changed after 13 years. Apple topples Coca Cola

Apple, co-founded by Steve Jobs in 1976 is the new most valuable brand in the world, according to a closely followed annual report about the values of the brands. Based  on Interbrand estimates the value of the Apple brand at $98.3 billion. Interbrand is a corporate identity and brand consulting company owned by the Omnicom Group that has been compiling  the Best Global Brands report since 2000

Apple replaced Coca-Cola as first among the 100 most valuable brands based on criteria that include financial performance. Apple has risen very fast on the brand ladder recently. Brand Apple was No
. 2 last year, climbing from No. 8 in the 2011 report.
Bad thing for Coca Cola is that it has fallen to third spot after google in the list. The value of the Coca-Cola brand also rose, by 2% to $79.2 billion.  Coca Cola was on the top spot for last 13 years. Branding which used to be a war between the soft drink makers has  now shifted to technology. Out of the top 10 Best Global Brands for 2013, five are in technology: Apple; Google; Microsoft, No. 5, unchanged from last year; Samsung, 8, compared with 9 last year; and Intel, 9, compared with 8 last year. At second spot in the new report is : Google, which rose from fourth place last year.
Bad news for technology brand was- BlackBerry, which tumbled last year to 93 from 56 in 2011, has disappeared from the list. Nokia is the biggest faller. It dropped to 19 from 14 in 2011, finished this year in 57th place among the 100.

Most talked about brand - Facebook, climbed to 52 from 69 last year, its first year on the list. Among non-technology brands, a notable addition to the list was Chevrolet, at 89, the first General Motors brand to rank among the Best Global Brands. Chevrolet is sold in 140 countries.  The  attributes of  Chevrolet ads  play up like “value for money and designs that move hearts and minds.”
Although “Coca-Cola is an efficient, outstanding brand marketer, no doubt about it,”  Jez Frampton, global chief executive at Interbrand, said Apple and other leading technology brands have become “very much the poster child of the marketing community”.

“Brands like Apple and Google and Samsung are changing our behaviour: how we buy, how we communicate with each other, even whether we speak with each other,” Frampton said. “They have literally changed the way we live our lives.”

In nut shell consumers would switch brands to “one that was associated with improving people’s lives,” as said by Sue Shim, executive vice president and chief marketing officer at Samsung.
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