Apple has reclaimed the title of World’s Most Valuable Brand with an increase of 67% in value to $246.9 billion. Not surprisingly, the iPhone maker surpassed rival Google for the title. Google nabbed the coveted number one spot last year, its fourth win in five years. Although many firms calculate their own lists of the most valuable brands in the world, market research company Millward Brown conducted this particular World’s Most Valuable Brand survey.
Other companies on the list besides Apple and Google
The top ten results in Millward Brown’s list are comprised mostly of tech and telecommunications companies, including Microsoft, AT&T, Verizon and IBM. Other companies on the list include Visa, McDonald’s, Marlboro and Coca-cola.
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Millward Brown celebrates ten years of the annual list with an expanded anniversary version of the study. The firm also explained that right now is a key moment for brand builders as we are entering a new era created by the global financial crisis. Consumers are much more cautious with their spending; as a result, they are far more choosy with the brands they use.
The 20-something demographic most companies are placing their focus on also have different consumer values than previous generations. Young adults tend to choose brands that strive to protect consumers and the planet.
Millward Brown’s methodology
The research company explained its methodology of brand valuation. It is based on 3 million customers and over 100,000 companies throughout the world. They compare brand appeal against sales performance to determine which brands are the real winners.
Millward Brown’s Most Valuable Brand list includes useful action points to help sustain brands. The first suggestion is innovation. Companies need to do more than just create products and services that are good enough. Consumers are more likely to return to a company that innovates, and Apple is a prime example of such a company. The Cupertino-based tech giant refreshes products and operating systems every year to keep things on the cutting edge. The last suggestion is similar to the first but equally important. Companies have to change to stay relevant. Consumers and their values tend to change over time, so brands must evolve to meet those needs.