Photo: Millward Brown
What convinces a rational person to buy a BMW and not a Hyundai? What could possibly make someone pay two or three times more for a car that has seemingly the same optional features and the same amenities as one that asks a lot less money? Brand awareness.
Starting back in the 60s, companies started to learn that marketing and brand awareness were beginning to dictate the shopping habits around the world. That’s how the whole ‘big logo’ fashion started going around in the 80s, everyone wearing clothes that made them look like walking billboards.
People take pride on their ‘brand’ items and that same principle applies to both fashion and cars, believe it or not. Another decisive factor in this decision is the conception that ‘expensive’ equals ‘better quality’ and, for the most part, it’s true. Sometimes though, you might want to think again.
That’s why rankings like the one done by Millward Brown, called 2014 BrandZ Top 100, are more and more important lately. People want to know which company is more trusted and which is more profitable, so that they are actually told what to buy.
In the latest iteration of this top, the top 4 positions are held by IT companies, in this exact order: Google, Apple, IBM and Microsoft. They are the most valuable companies in the world at the moment, in all domains.
In the auto field, though, things are rather different. The best ranked manufacturer is Toyota, coming in at 26, with an estimated brand value of $29 billion, followed by BMW on 32 with a brand value of $25 billion. These two are actually the only 2 manufacturers in the top 40 positions, followed by Mercedes-Benz on 42, Honda on 70, Ford on position 84 and Nissan on 90.
Compared to the 2013 results, BMW’s value grew by 7 percent but compared to the 2011 results, the company fell 2 positions in the rankings.
People take pride on their ‘brand’ items and that same principle applies to both fashion and cars, believe it or not. Another decisive factor in this decision is the conception that ‘expensive’ equals ‘better quality’ and, for the most part, it’s true. Sometimes though, you might want to think again.
That’s why rankings like the one done by Millward Brown, called 2014 BrandZ Top 100, are more and more important lately. People want to know which company is more trusted and which is more profitable, so that they are actually told what to buy.
In the latest iteration of this top, the top 4 positions are held by IT companies, in this exact order: Google, Apple, IBM and Microsoft. They are the most valuable companies in the world at the moment, in all domains.
In the auto field, though, things are rather different. The best ranked manufacturer is Toyota, coming in at 26, with an estimated brand value of $29 billion, followed by BMW on 32 with a brand value of $25 billion. These two are actually the only 2 manufacturers in the top 40 positions, followed by Mercedes-Benz on 42, Honda on 70, Ford on position 84 and Nissan on 90.
Compared to the 2013 results, BMW’s value grew by 7 percent but compared to the 2011 results, the company fell 2 positions in the rankings.
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