For the second year running, Apple have achieved brand success being ranked as the most valuable in the world. Maintaining their dominance, brand value has risen by 14% due to the huge success of the iPhone 6 and iPhone 6s.
It will be interesting to see whether the traction of Apple Pay will mean continued growth to achieve the top spot in 2017. The force is certainly with Disney who this year have topped the most powerful list, beating Lego who came first in 2015. The achievement comes as a result of the Star Wars franchise success as well as many other powerful brands under its wing, who continue to strengthen relationships with its customers.
With no surprise, Volkswagen have dropped significantly from 17th place to 56th in the rankings due to the emissions scandal in 2015. Brand value and in turn reputation has been damaged a great deal, dropping by $12 billion to $18.9 billion.
Brand Finance based brand strength on a number of factors including familiarity, loyalty, promotion, marketing investment, staff satisfaction and corporate reputation. A 'royalty rate' is calculated to form the rankings, which involves estimating likely future sales and what would be charged for use of the brand assuming it was not already owned.
As David Haigh (CEO, Brand Finance) highlights, it is critical for marketers, finance teams and even CEOs to understand the importance of brand value. Organisations must differentiate themselves from their competitors and build trusting relationships with its customers.
We’re delighted to see brand success with a number of our global clients named in the report. To find out more about how our brand asset management solutions can grow brand value, click here to read our case studies.
To download the full Brand Finance Global 500 report click here.