Customer experience expert gives her take on how it all went wrong for the once-powerful global company that lost its brand values.
Apple is still at the top of the tree when it comes to brand value
By our News Team | 2023
Kantar report says Apple’s brand has proven resilient in the face of testing market conditions, enabling it to justify premium prices.
Apple retains its crown as the world’s most valuable brand for the second year in a row, with a brand valuation of US$880-billion. This is according to the just-released ‘Kantar BrandZ Most Valuable Global Brands Report 2023’.
Microsoft overtakes Amazon to join Google in the top three. Overall, technology brands are, once again, the most represented in the Top 100 and command the largest share of brand value.
Image by Matias Cruz from Pixabay
Fast-food giant McDonald’s is the most valuable non-tech brand (5th in the rankings) and Coca-Cola rejoins the Top 10 in 10th place.
Visa, Tencent (the Chinese-based internet and technology company), Louis Vuitton and MasterCard are the other brands that comprise the Top 10.
The report says Apple’s brand has proven resilient in the face of testing market conditions, justifying premium prices with positive perceptions – and proving that meaningful, different and salient brands are best placed to weather global economic disruption.
“While the market has proved volatile and been greatly impacted by global macro-economics, consumers’ view of brands has proved far more stable – the most valuable brands in the world remain as highly regarded as ever,” comments Martin Guerrieria, head of Kantar BrandZ.
Effective marketing investment and long-term thinking are vital
“The lessons for brand owners and marketers remain clear; effective marketing investment and long-term thinking are vital to your business’ growth prospects.
“Those brands consistently investing in establishing strong consumer connections are now much better placed to navigate the current volatile conditions and deliver a greater degree of resilience for their shareholders.”
According to the researchers, the most valuable brands in the world have built powerful connections allowing them to create shareholder value faster, resist market downturns, and recover sooner from recessions. Brands with powerful connections have three essential qualities: they are Meaningful, Different and Salient.
Soft drinks brands Pepsi and Coca-Cola are among the 2023 success stories, Kantar says in the report.
Pepsi’s brand value has soared 17% year-on-year, reaching a total value of $18.8-billion and taking Pepsi back into the global ranking at No. 91. Defined by great advertising, the brand has grown its price premium positioning in the US while being considered a ‘value’ brand across the rest of the world.
Coca-Cola (No.10) showed great resilience, increasing its brand value by 8% and breaking back into the Top 10 for the first time in seven years.
The ‘Kantar BrandZ Most Valuable Global Brands 2023’ Top 10 is as follows:
- Louis Vuitton
You can read more about the report here.
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Kalu has been with the agency since 2016 and brings a wide range of experience and professional expertise to his new role.