According to the results of a latest study, Ferrari is the world’s most powerful brand, outperforming much larger automakers such as BMW, Lexus, Mercedes-Benz and Volkswagen.
The Prancing Horse also managed to outpace giants such as Apple and Coca Cola when it came to brand power, although it fell short when it came to overall brand value. Topping the list was Apple, with a brand value of 87.3 billion, followed by Samsung with a value of $58.8 billion and Google with a value of $52.1 billion for their respective brands.
The study, conducted by British research firm Brand Finance, compared the brands of the world’s top 500 companies.
According to the researchers, having a strong brand, though an intangible, is a key factor for driving profitable growth; something we’re sure will help Ferrari achieve more records in 2013. Crucially, having a strong brand helps with customer recognition, reputation and loyalty, as well as influence.
“It is always a pleasure to top any list and still more so when the competition includes some of the world’s most famous companies,” Ferrari chairman Luca di Montezemolo said in a statement. “This achievement proves that even in very tough economic times, Italy can still offer the world businesses of excellence.”
Five Most Powerful Brands and their brand values (in billions):
1) Ferrari – $3.6
2) Google – $52.1
3) Coca Cola – $34.2
4) PwC – $16.4
5) Hermes – $4.5
Read the full article by Viknesh Vijayenthiran at motorauthority.com