What does it take to reach the list of the top ten most powerful brands in the world and what can the furniture industry learn from those companies that have made this prestigious list?
Brand Finance, the world’s leading brand-valuation consultant’s evaluated companies by their familiarity, loyalty, promotion, marketing investment, staff satisfaction and reputation. The most powerful brand list 2015 is dominated by retail, media and financial companies. Surprisingly, only one technology brand made the list. Think its Apple? Well, read on and find out.
In tenth place is Google, value $94.2 billion. Google has gone through big changes in 2015 and is increasing its ability to generate substantial mobile revenue.
In ninth place is NBC, value $16.1 billion. Data indicates the best shows on normal TV get more viewers than the best shows on streaming services. People always go back to what they are comfortable with.
In eighth place is Coca Cola, value $34.2 billion. In the past few years’ consumers have switched off sugary drinks but Coke Life sold poorly. The company recently launched the Taste the Feeling campaign to unite the company’s various products.
In seventh place is Johnson’s, value $15.1 billion. Johnson’s suffered a year of mostly falling revenue. If its consumer products division splits with its pharmaceutical division, next year’s result will be impacted.
In sixth place is Nike, value $28 billion. Nike’s sales are rising, if only a few per cent. Nike found success in recent years with Instagram where it has 31 million followers.
In fifth place is McKinsey, value $4.8 billion. A consulting firm with many partners; Managing Director Dominic Barton said: “If you are not thinking about what parts of your business are going to change in two years from now, you may not be around”.
In fourth place is PwC, value $18.6 billion. PricewaterhouseCoopers is one of the big four auditors and in 2015 saw a 10 per cent increase in revenue. More companies are seeking professional financial help.
In third place is L’Oréal, value $14.9 billion. L’Oréal has legions of loyal customers yet retains its brand exclusivity. Brand Finance credits this to “unrivalled focus on marketing”.
In second place is Lego, value $4.5 billion. Lego made poor PR decisions in 2015 including stopping a Chinese artist from making Lego art and attempting to prevent retailers from discounting its products.
In first place is Walt Disney, value $31.7 billion. The purchase of several other companies including Lucasfilm; ESPN and Pixar adds to Disney’s long and established history.
So, if you think mobile, are united and create a following, think about change, seek professional help, focus on marketing, make good PR decisions, trade on your established history and ensure your customers are comfortable with your product, you should be well on your way to success.