World's most Valuable Brand slot once again took by Apple, Explained by Millward Brown

5/27/2015 Apple , Brand , Izzah Ramzan 0 Comments

Millward Brown explains why Apple regained its #1 on the 10^th annual brand equity ranking. In this ranking, Apple has crossed Google and has achieved the first position. The factor on which the company considers a base of ranking is the product of more than 3M consumers across 50 countries.

"With a 67 percent rise in Brand Value to $247 billion, Apple returned to number one in the BrandZ™ Top 100 Most Valuable Global Brands ranking. Success of the iPhone 6 and the related excitement surrounding the Apple brand drove the increase. Apple also led in the rate of brand value growth over 10 years – 1,446 percent."

It has been observed by the company that the notable and unusual growth in long-term brand equity was obvious and clear. As a matter of fact, ten years ago when Millward Brown began his Brandz measurements, Apple didn’t even come into the top 100 brands.

This ranking of Apple shows the power and strength of both consumer faithfulness to the brand and also the faith and trust in the company, which is also told by the report. It has also observed that other brands have taken advantage from the popularity of Apple pay.

The courage of Apple sustained not only by the iPhone 6 launch and news of hotly prevision of Apple watch and also by the start of health kit and Apple pay and then, in the recent in modern time, Apple specifically had spillover effects that lay ahead the technology category, its launch partners i.e. the Bank of America also had a linkage and connection with the product through which it also had enjoyed a great quantity of appreciation which has increased its value.

The report also tells us that Apple’s use of watch has helped in setting its position the shift from a premium tech company to a luxury brand would help it in its competition from Chinese companies like Huwei & Xiaomi which have been sending their products up in the market to compete with flagship models from their Smartphone brands.

" Having always sold premium products, Apple became more explicit about its luxury positioning with the introduction of the Apple Watch, and announced plans to refurbish Apple stores with sales counters and displays suggesting department store exclusivity. At the same time, premium positioning also presented Apple with one of its fundamental competitive challenges, as Chinese brands such as Huawei and Xiaomi and Indian makers like Micromax offered quality smart phones at much lower prices. Apple’s Brand Power remained a major advantage. Consumers were drawn both to the efficacy, ease of use and design of Apple products, and to the allure of the brand itself."

Apple has achieved the highest and prominent place in the line of brands. It has also been considered and named as a valuable brand by Forbes. It has also been ranked as the world’s most respected company. Berkshire Hathaway continuously rated Apple as the world's most admired Brand.

Source: 9to5mac