According to a survey released by global market agency Millward Brown, US search engine giant Google has left behind Apple, its rival technology brand to gain the world’s top brand position in terms of value. Brand value of firm is calculated on the grounds of its standing among consumers and its financial performance.
In its 2014 100 Top BrandZ report, Millward Brown said that Google’s brand value has escalated to $158.84 billion which is a 40 percent increase from last year. In a sharp contrast to this Apple’s brand value slipped by 20 percent to $148 billion thus giving the spot that it proudly held for three years to Google.
This achievement of Google can be attributed to its hardworking staff and the spectacular innovations that they have brought this year in the market. Whether it was the investments in artificial intelligence, Google Glass or a range of partnerships, everything seemed to have worked positive for Google this year.
Google joined hands with Luxottica which itself is a frame giant behind Ray-Ban and other numerous high end brands to sell the Google glasses in the United States. These steps according to Benoit Tranzer, head of Millward Brown sends a strong message to consumers across the globe about Google’s character.
In the 100 top BrandZ report, the first 10 positions are held by United States firms. IBM the software giant came in third on the list with a 4 percent fall from last year at $107.54 billion. Microsoft on the other hand saw a rise of 29 percent and came in fourth position with $90.19 billion.
McDonalds, the big fast food chain came in a close fifth with a brand value of $85.71 billion and was followed by the beverage giant Coca Cola which stood at $80.68 billion.
The list also saw some new entrants like LinkedIn and Twitter. LinkedIn was ranked at 78thposition with a brand value of $12 billion and Twitter came in a 71st with $14 billion.
The insurance sector was dominated by China with Ping An and China life valued at $12.4 billion and $12 billion respectively. Louis Vuitton with a brand value of more than $25 billion was ranked 30th in the overall list.