Ferrari trumps other world brands
Cars are important, we all know that, that’s what we talk about a lot on this blog, however how important are they on a global scale, when it comes to brand power and recognition.
Well it appears that they’re pretty damn important because Ferrari has claimed the first place in a list of the world’s top 500 brands, with names like Google, Coca-Cola or Apple behind them.
Now since we mentioned Apple, according to the 2013 BrandFinance Global 500 list, they did take the title of the world’s most valuable brand, just ahead of Samsung, however Ferrari was the first name when it came to brand rating. Brand rating is measured by net margins, average revenue per customer, costs of marketing and advertising as well as brand affection and loyalty.
David Haigh, the CEO of BrandFinance, explained that while brand value is indeed important, there are surely many other factors that can prove the worth of a particular brand, and that is definitely the case when it comes to the Italian automaker. The argued that there are quite a few brands in the top 500 that even though may never be capable of challenging the brand value giants, are still very powerful and well-loved.
This seems to be true for Ferrari, one has to keep in mind that the company is actually rather small and its product range is well defined within the niche sports car area. Despite all of those factors, Ferrari still trumped brands like Google or Coca-Cola, much larger companies.
Luca di Montezemolo – Ferrari chairman – said that it is always a pleasure to see his brand at top of any list, and more so when the other names on the list are world famous companies, and they are all beneath it.
The result came in time with the announcement that 2012 was actually Ferrari’s best year in its 66-year history, and one has to keep in mind the fact that the economic climate, especially across Europe has been difficult to say the least.
