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| Crisis hits financial brands; Coca-Cola retains top slot |
| Press Trust of India / New York Sep 18, 2009, 17:57 IST |
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The financial crisis has wiped out billions of dollars from the top 100 global brands, especially from the financial services sector but the top five — Coca-Cola, IBM, Microsoft, GE and Nokia — managed to hold on to their positions despite a challenging year, says a survey.
According to a survey by leading brand consultancy Interbrand, Coca-Cola retained the top slot for the ninth year in a row.
While, there are no Indian company in the league of top 100 most valued global brands, most of them have a significant presence and brand recognition in the country.
The top gainers in this year's BusinessWeek and Interbrand's annual ranking include — Google (25 per cent), Amazon (22 per cent), Zara (14 per cent), Pepsi (3 per cent) have all prospered during a challenging year for marketing executives.
But the year that was spelt gloom for brands in the financial services sector, UBS slipped dramatically down the list, falling 31 places to the 72 position, losing half of its brand value.
Seven brands mainly from the financial services sector fell right off the list including Merrill Lynch, AIG, ING after huge subprime losses.
Another major outcome of the survey is that there has been no change in the top five spots despite difficult times.
At a time when big banks and auto brands fared the worst, food brands benefited as consumers began eating more at home.
Some of the brands from the food, beverages section include — McDonald's (6th), Pepsi (23rd), Nescafe (25th), Kellogg's (34th), Heinz (48th), Wrigley (51st), Nestle (58th), Danone (60th), KFC (61st), Pizza Hut (79th), Starbucks (90th) and Burger King (93rd).
In a challenging year for marketing executives, companies have had to adjust rapidly as consumers reexamine their purchases and rethink brand loyalties.
The survey highlighted that marketing executives are balancing the temptation to chase short-term gains with discounts and promotions against the risk of cheapening their brands over the long haul.
United States dominates the list, with more than half of the brands originate from the land of Uncle Sam.
The seven brands that made their entry into this year's list despite tough times include — Lancome in the 91th rank, Burger King (93th), Adobe (95th), Puma (97th), Burberry (98th), Ralph Lauren (99th) and Campbells (100th).
While most of the brands witnessed significant decline in their brand value, some managed to improve them. The few brands who could add more value in these touch times include — Coca Cola, IBM, McDonald's, Google, HP, Gillette, Cisco, Apple, HM, Pepsi, Nescafe, Nike, IKEA among others.
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