Brand equity is becoming increasingly important factor to successful brands. Brand equity has the ability for firms to gain additional market share, at a price premium, with increased customer loyalty, and greater acceptance of new products. It also provides significantly more access to more retailer channels and easier ability to enter new markets. Professional valuation companies that rank firms on the brand equity value consider how much the brand contributes to additional profitability. Here are the top 10 brands for 2020 as determined by Forbes.
Apple
Google
Microsoft
Amazon
Facebook
Coca-Cola
Disney
Samsung
Louis Vuitton
McDonald's
Please answer the following questions:
- Have a look at the top 10 brands in the world, select 3 of the top 10 and do some research on their brand and how they have marketed their brand. What similarities can you see in regards to their marketing activities?
- In 2017, Coca-Cola was ranked #4. Prior to that, it was the most valuable brand in the world, a position it had held for a long time. Coca-Cola is currently at #6. What do you think Coca-Cola has done to go from #1 to #4 to #6? Do you think it can regain strength as #1?
- In 2017, Disney was not listed in the top #10 but it is now #7. What do you think are the major contributing factors for this climb?