A Brief Insight into 2 Top Brands
Each year several lists of the top brands are released by brand ranking organizations. Although each company uses its own set of criteria when assessing a brand, many famous brands appear on the majority of the lists, and it’s not hard to see why. Determining factors often include earnings (both inside and outside the brand’s home country), recognition outside the brand’s consumer base, market capitalization, global presence, customer loyalty, brand distribution, brand valuation, and brand awareness.
Many of these top global brands were started by ordinary individuals with extraordinary drive. Some even fearlessly started operating from their garage, with nothing more than an idea and fierce determination. These top brands are worth billions of dollars today. There’s no denying we can all learn a lot from these companies, so let’s take a look at how two of them achieved their powerful positions.
“Life Begins Here”
Touted as the number one brand in the world, Coca-Cola is a beverage company like no other. With advertising being a top priority, aggressive marketing and clever strategies have helped place this brand in a powerful position. Thanks to their wide reach, outstanding product, effective marketing, and impressive brand loyalty the company sells approximately 1.6 billion servings of soda per day. So how does Coca-Cola manage it?
Coke has developed highly competitive brand strategies over the years and constantly raises consumer interest through reinvention. With a clear focus on brand enhancement, Coke takes full advantage of each marketing mix element. The company has achieved extensive global distribution, high market capitalization, and high awareness levels.
Their marketing efforts have helped them build a brand that is instantly recognizable. Without a doubt, Coke has a solid brand personality, identity, and image. The corporation aims to trigger positive feelings within their consumers, something they’ve successfully achieved many times over. With slogans including “The Coke Side of Life,” “Open Happiness,” and “Life Tastes Good,” they know what their consumers want and they give it to them.
The Coca-Cola Company has distinguished itself from its competitors, which has helped them build a brand worth more than $70 billion. They invest in areas that matter, such as customer relationship management and employee relations. The brand has become synonymous with the product, which has allowed the company to position themselves exactly where they want to be within their consumer’s mind.
Although Pepsi is a strong competitor, Coca-Cola continues to dominate its category on every level. Even though the company has suffered several major marketing blunders it has survived the worst and still managed to make it out on top. The brand has certainly established longevity, so chances are slim that we’ll ever have to worry about it disappearing from our supermarket shelves.
“i’m lovin’ it”
With a brand value of nearly $40 billion, McDonald’s has become one of the strongest leaders in its industry. In addition to achieving extensive global distribution, the company has been consistent in developing a brand identity, as well as implementing strong marketing strategies. One of McDonald’s major strengths is that the organization successfully continues to evolve the brand’s product offerings.
The famous golden double arches are recognized the world over as the “M” has become a symbol synonymous with the McDonald’s brand. The corporation’s mission is to provide service, value, quality, and cleanliness in each of its restaurants. To ensure they meet expectations, McDonald’s have implemented strategic systems and procedures that allow them to serve fast food to over 58 million customers every day.
A main strength of this brand is its ability to adapt. Faced with public criticism over health concerns, McDonald’s incorporated healthier product options into their menu. Many restaurants situated in the suburbs boast impressive playgrounds, catering to families with children. McDonald’s ability to react to consumer demands and adapt to market conditions has made them one of the most successful brands of all time.
Successful Top Brands
Other top brands to study include IBM, Microsoft, Apple, Google, Marlboro, Nike, General Electric, Intel, Pepsi, American Express, Disney, and Hewlett Packard. Studying the brand strategies of these companies can help us understand what they did right, and how we can emulate their success. Many strong brands are built on continuous innovation, customer focus and engagement, superior quality standards, extensive distribution, employee focus, and brand identity. Ultimately, the brand’s values and its consumer’s values must be in alignment.