Technology has been driving force in everyone’s daily lives in recent times and it is here to stay for a while. As Interbrand released the list the Best Global Brands for 2014 there is one takeaway and that is that tech companies dominate the rankings. Out of the top five global brands Apple and Google take the top slots ending a thirteen-year reign by Coca-Cola, which was displaced to a bronze finish.
Apple was valued at $118.9 billion and Google getting a valuation of $107 billion. The once mighty soft drink was valued this year at $81 billion finishing in third place. Meanwhile IBM ($72 billion) arrived in fourth and Microsoft ($61 billion) ranked fifth. Tech is the rising star as an industry looking to cement its footprint and influence permanently.
According to The Verge report out of the 100 brands examined 13 were in the tech sector with Samsung notably joining the ranks with a seventh place finish. The other usual suspects included were Oracle, Hewlett Packard (HP) Amazon, eBay and others. In addition, Facebook finished in the 29th spot and it comes as no surprise in Interbrand’s it included the social media networking company as a top rising performing brand.
So what is the criteria that is considered when ranking a global brand? As it turns out three aspects were carefully drafted when putting together this impressive and extensive list of brands. The first aspect includes the company’s financial status or profitability for the products and services it has. Second, it is the brand’s ability to influence the consumer choice. Finally, the final aspect is the ability for the brand can command a premium price or lock down earnings for the company.
The tech industry will continue to make the ranks and do not be surprised to see more technology-based companies making the top ten. Apple through its portfolio of products like the iPhone, iPod, iPad and Macintosh along with the Apple stores has formulated the winning formula for the company. In addition, its superior customer service philosophy within Apple retail has revolutionized the industry and everything is built upon providing a world class experience.
It is safe to say that not all of the companies are one hundred percent perfect, but one cannot deny that walking into an Apple store is a cool experience and you will notice the stores most of the time are packed with people.
