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What Makes A Brand Great?

Iconic brands are instantly recognisableSource: Pixabay

Who would have thought a brand with an apple logo with a bite out of it could win big time? Imagine a row of apples on the fruit machine in the slots casino, ching, ching as you hit the jackpot.

Brand image and how simple it is, often influences consumers’ decisions and can be the WOW factor for a company’s success.

Brand consultancy firm, Interbrand, published the results of the top 10 world brands in 2019. It looked at three main factors – current brand strength – that is, how positive is the perception of the brand globally; how does it add value to the brand itself and the company; and, what are the future plans for the brand.

Money talks

Add to the mix of the most outstanding brands is the ‘moola’ – money talks! Interbrand calculated “overall financial return to an organization’s investors, or its economic profit,” and the ease of the brand in creating loyalty and, consequently, sustaining demand and profit into the future.

It’s not surprising that giant tech brands Apple, Google and Amazon stood out, while Spotify and Harley Davidson (who would have thought) are not so favoured with customers.

Topping the list at number one, Apple was world’s sturdiest brand last year. With a market cap of around $1.2 trillion, it grew 9% in the last year, through differentiation, governance, and engagement.

Second is Google with a brand value of $167.7 million and is clearly a dominant household name. Its parent company, Alphabet, has a market cap of $932 billion. Brand Google grew 8%. Naturally, presence and relevance featured, but also its responsiveness.

Three is Amazon — brand value: $125 million. Jeff Bezos’ had his head in the clouds when he started his firm in 1994 to become among the world’s biggest brands. Amazon’s market cap stands at $885.3 billion, and its strengths were responsiveness, relevance, and presence, as the brand grew 24% in the last year.

Four is Microsoft, the brand you either love or hate. Its brand value is $108.8 million and has a market cap of $1.2 trillion. Its brand improved markedly this year by 17%, due to clarity, relevance, and responsiveness to consumer needs.

Soft drinks, mobiles and cars

Slipping down to number five is Coca-Cola, probably the world’s best-known cool drink with a brand value worth $63.4 million. The brand has actually declined since 2014 with a loss of 4% last year. Despite that, it shows brand strength and is led by presence, authenticity, and commitment.

Six is giant tech company Samsung, whose brand value is $61 million. It grew 2% in the last year. It is best known for its mobile phone technology. It showed responsiveness, relevance and authenticity.

Seven is the world’s number one car maker, Toyota with a brand value of $56.2 million. The Japanese car maker’s market cap is roughly $229 billion so it is not surprising that its brand grew 5% last year. Interbrand based this on relevance, authenticity, and presence.

When a brand becomes a verbSource: Pixabay

Commitment, differentiation, presence

At eight, Mercedes-Benz has a brand value of $50.8 million. This tough make is owned by Daimler. Its brand value increased by 5%, through its commitment, relevance and responsiveness.

Number nine, McDonald’s has a brand value of $44.53 million. The yellow and red branding is so because the two colours create the instant desire to eat and be happy. McDonald’s, with a $148 billion market cap, grew its brand value by 4% last year. According to Interbrand, its strengths are commitment, differentiation, and presence.

Lastly at 10 Disney’s market cap is about $265 billion, and the brand can only get stronger with its new streaming service Disney. It’s brand strengths were differentiation, commitment, and presence.