According to a closely followed annual report, Apple is the new most valuable brand in the world.
The report came from Interbrand, a corporate identity and brand consulting firm owned by the Omnicom Group who have been compiling a list of the Best Global Brands since 2000. Coca-Cola, the former No. 1 brand, is now third on the list.
Chief Executive of InterbrandJez Frampton believes that Apple claiming the number one spot was ‘only a matter of time’. Apple was number two last year, climbing from the number eight spot in 2011.
“What is it they say, ‘Long live the king’?” Mr. Frampton asked. “This year, the king is Apple.”
The 2013 report begins: “Every so often, a company changes our lives, not just with its products, but with its ethos. This is why, following Coca-Cola’s 13-year run at the top of Best Global Brands, Interbrand has a new No. 1 — Apple.”
The report also estimates Apple’s brand value to be $98.3 billion, up by 28% from their 2012 report. Coca-Cola’s values, on the other hand, only rose by 2% to $79.2 billion.
Although “Coca-Cola is an efficient, outstanding brand marketer, no doubt about it,” Mr. Frampton said, Apple and other leading technology brands have become “very much the poster child of the marketing community.”
Frampton also feels a company which exemplifies his previous statement is the company that took the second spot (Google). Google rose to second place from fourth in 2012, Interbrand’s top ten list actually has 5 technology companies which includes Apple (1st), Google (2nd), Microsoft (5th), Samsung (8th) and Intel (9th).
Samsung’s rise could be attributed to the company’s adoption of a new brand strategy Called the Brand Ideal, which includes ‘a greater focus on social purpose,” Sue Shim, executive vice president and chief marketing officer at Samsung, said by e-mail. That reflected research indicating American consumers would switch brands to “one that was associated with improving people’s lives,” she added.
IBM also made the list but was ranked as a business services brand. Otherwise technology would have had six representatives.
“Brands like Apple and Google and Samsung are changing our behavior: how we buy, how we communicate with each other, even whether we speak with each other,” Mr. Frampton said. “They have literally changed the way we live our lives.”
Facebook also did well climbing from 69th last year to 57th this year, Blackberry tumbled down to 93rd while Nokia dropped from 14th to 19th.
Chevrolet was one of the nontechnology brands to do well this year moving up to 89th and they are the first General motors brand to be ranked on the list.
“It feels good to hit the list for the first time,” Alan Batey, global head of Chevrolet at G.M., said in a telephone interview. “It’s a great first step, but we’ve got a long way to go. There are a lot of big brands in front of us.”