Coca-Cola has spent billions of dollars marketing their products all over the globe, making them one of the most recognizable brands year after year. However, this year they have been bumped from their coveted No. 1 spot of “most valuable brand” for the first time, by Apple.
According to The Guardian:
“Sorry, Coke, but you’re not the real thing anymore. In a recent report by the corporate branding consulting group, Interbrand, Apple has moved to the number one spot, pushing 13-year front runner Coca-Cola to third place to become the most valuable brand on the planet.
“The Interbrand report, which comes out annually, tracks the 100 top brands around the world. It has been releasing the report since 2000 and this is the first year Coca-Cola has not been in the number one position. According to Jez Frampton, global chief executive at Interbrand, ‘It was a matter of time.’ Last year Apple, Inc. was in the number two position, but as the report states, “on a product and popularity basis, Apples continues to whet appetites for more.'”
Coke was actually moved to the No. 3 spot on the list, as it was also surpassed by Google. The top 10 brands list reflects the times, as it consisted mostly of tech companies like Apple, Google, IBM and Samsung. The Interbrand list is determined by of a multitude of criteria, including a company’s role in consumer behavior.
According to bloomberg.com:
“The annual study, closely watched by the industry, determines a brand’s value by examining its financial performance, role in influencing consumer buying and ability to secure earnings.
“Technology names were among the biggest climbers — and the biggest decliners as well. Google’s brand value rose 34 percent and Samsung’s advanced 20 percent. Meanwhile, Nokia dropped to 57th place from 19th with the largest decline in brand value in the history of the 14-year study. Yahoo and BlackBerry fell off the rankings altogether.”
It was only a matter of time before Apple and Google overtook Coke on a list of this sort, as tech companies are now the most recognizable and valued products by consumers.
Check out the full list here.