Question: What comes to mind with the words…
Smart phone? iPhone.
Music device? iPod.
Purchasing music? iTunes.
Laptop? MacPro.
Portable Tablet? iPad.
Referring back to the class discussion on brand value. In 2010, the number one company with the most valued brand is Coca-Cola, followed by Google in fourth place and Apple in seventeenth. In Interbrand.com’s study of the top brands in 2011, Apple, unsurprisingly jumps to eighth place with a 58% change in brand value from last year.
In Nick Bilton’s article “Disappointment? Apple’s iPhone 4S Breaks Sales Records” in The New York Times on October 10th, he cites how Apple reveals that its new iPhone 4S reaches more than 1,000,000 orders within the first 24 hours; whereas, compared to the iPhone 4 released earlier, sales only passed 600,000 orders.
How did Apple’s brand value change this dramatically within one year? I believe that the demand for Apple products is creating a trend. Apple continuously produces similar products, but with updated qualities; yet, consumers are willing to purchase these “improved” products. Hence, innovative products and consumers’ high demands make this company profitable.
2011 Best Global Brands