Coca-Cola has retained the No. 3 spot on Interbrand's annual Best Global Brands ranking for the fourth consecutive year, with an estimated value of $73.1 billion.
Product and packaging innovations play a big role in that value, as do refreshing experiences the brand provides fans, according to the 2016 report released today. Interbrand cited JourneyxJourney cross-country storytelling road trip as an example of a creative way to link Coca-Cola more closely to communities across the United States. The brand's campaign for the Rio 2016 Olympic Games and "One Brand" global marketing strategy were also noted.
“More than ever, we recognize people want their Coca-Cola in different ways, but whichever one they want, they want a Coca-Cola brand with great taste and uplifting refreshment,” said Marcos de Quinto, chief marketing officer. “Through the ‘One Brand’ strategy we will move away from multiple brand campaigns, to one single iconic brand campaign that celebrates both the product and the brand.”
While many soft-drink companies are supplementing their portfolios with alternative beverages, Coca-Cola continues to give consumers reasons to stay loyal to its iconic flagship brand through new packaging and offerings, Interbrand said in a summary of Coca-Cola’s ranking.
“The brand has turned heavily towards smaller product versions, such as eight-ounce mini cans, which give consumers the freedom to buy Coke in smaller portions if they’re concerned about calories and sugar, and are more affordable,” the brand consultancy noted.
Meanwhile, Sprite appeared on the global list as the world’s No. 86 brand, worth more than $5 billion. The brand’s “Obey Your Verse” campaign featuring lyrics-decorated cans in a co-branded effort with hip-hop stars such as Drake helped assure the brand’s spot on the list.
Generally, technology and automotive brands dominated this year’s ranking. For the fourth year in a row, Apple and Google claimed the top positions. Apple’s brand value grew by 5 percent to $178 billion, while Google’s brand value rose 11 percent to $133 billion. Coca-Cola, Microsoft, Toyota, IBM, Samsung, Amazon, Mercedes-Benz and GE round out the Top 10. See the full rankings here.
Now in its 17th year, the Interbrand report gives an insider’s view of how great brands grow great businesses. The ranking is based on three key components that contribute to a brand’s cumulative value. They include the financial performance of the branded products and services, the role the brand plays in influencing customer choice, and the strength the brand has to command a premium price or secure earnings for the company.
“It’s clear the best global brands are not just weathering change, but driving it,” says Jez Frampton, Interbrand’s Global Chief Executive Officer. “They understand their anatomy of growth is complex, unique and personal; they look inward and outward, expand into new markets, and create better experiences to grow their brands and businesses.”