It has been reported that tech firms, Apple and Google have leapfrogged Coca Cola to become the world’s top two brands- according to the Best Global Brands report from brand consultancy Interbrand.
The ranking looks at the role the brand plays in influencing consumer choice, financial performance of branded products or services and the strength the brand has to command a premium price. Coca Cola has held first place in these rankings for 13 years but its brand value changed very little in the past year- rising just 2% to $79.2bn, while Apple leapt 28% and Google surged 34%.
On the other hand we also note the fall of some previous category leaders such as Yahoo! And Blackberry who fell of the ranking entirely, while Nokia experienced the largest decline in brand value in the history of Best Global Brands- falling from 65% in 2012.
Interbrand suggested that Apple’s rise could be attributed to their ability to keep the consumer as the focal point of any innovation or strategy changes- anticipating their needs and wants in a way which kept them ahead of anyone else. The new leadership team at Apple had “kept Steve Jobs’ vision intact” enabling the business to continue to deliver on innovation despite the significant changes to their management structure.
Similarly, Google followed a similar general strategy but chose to use evolutionary changes in its core offerings to drive the growth in brand value- for example Android, Gmail, Google Glass etc.
Facebook was also noted as the fastest growing brand overall with its value up 43% year on year and even luxury brand Prada got a mention and was up a huge 28%.
Essentially, it appears to be the brands that think differently about the role they play in consumer’s lives and how to fulfil that role that have an opportunity to expand and grow in ways they never imagined.