Tech giants Apple, Google, and Amazon have topped a list of the most valuable brands in the world in an influential study.
Global branding consultancy Interbrand has published its annual Best Global Brands report for 2018, showing which international brands dominate and carry the most value.
The report ranks the world’s top 100 brands by brand value, which is based on three key components: the financial performance of the branded products and services; the role the brand plays in influencing customer choice; the strength the brand has to command a premium price or secure earnings for the company.
The report says that brand value of Apple surged 16 percent on-year to $214.5 billion USD as it went on to become the first US firm to hit the $1 trillion market capitalization. The popular search engine Google was up 10 percent to $155.5 billion USD and Amazon is valued at $100.8 billion.
When it comes to Apple, it has proved highly adept at maximizing the value from its flagship product, the iPhone, exemplified by its recent launches of the iPhone XS and XS Max, as well as the upcoming launch of the iPhone XR.
“At the same time, it is tapping into the desire for useful apps and services, with sales from its services division growing by 23 percent to $30 billion in the 2017 fiscal year,” said Mike Rocha, Global Managing Director at Interbrand.
Interbrand London chief executive Christian Purser said: “Leading brands are more customer-obsessed than ever, bringing the voice of the customer into every aspect of their business, making bold moves and taking calculated risks based on customer understanding.”
“The fastest growing brands across the last five years of the study are typically the most relevant to people’s lives and the most responsive to their changing needs,” he continued.
Following Microsoft at number four are Coca-Cola, Samsung, Toyota, Mercedes-Benz, and Facebook. McDonald’s returns to round out the Top 10.
The five Top Growing Brands include Amazon, 2017 new entrant Netflix, Gucci, 2017 new entrant Salesforce.com, and Louis Vuitton. After five years as the Top Growing Brand, Facebook declined six percent.