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Brand Success Factors
Brand Success Factors
Brand Success Factors
An efficient and scalable business model combined with innovation is necessary to stay ahead of the competition. But individually these are not sufficient to make a successful global brand. Five further overlapping components are required:
3. A sense of dynamism
Innovation is key to brand success but it is not limited to the functional benefits of the brand. A brand that sets the trends rather than reacting to them is likely to be seen as different and more popular.
4. A sense of authenticity
Today consumers in developed countries have a finely tuned sense for what is true and authentic versus shallow and contrived. They are still drawn to brands with a strong heritage.
The 10 most valuable brands in the world, according to the European Brand Institute (estimated value in billions of dollars)
1. Apple ($96 billion) 2. Coca-Cola ($76) 3. Microsoft ($70.6) 4. Google ($66.4) 5. IBM ($63.8) 6. McDonald's ($62) 7. AT&T ($61.4) 8. Procter & Gamble ($61) 9. PepsiCo ($59.5) 10. Philip Morris ($59.2)
Apple's success can be attributed to its innovative design, loyal consumer base and well-executed marketing activities. Naturally there is speculation about how the brand will be impacted by Steve Jobs recent . However with a culture of innovation across the whole business, the brand is likely to continue to hold a strong position in the market.