Coming as no surprise to most, the front-runner Apple topped the list of branding behemoths for the tenth year running, amassing an eye-watering brand value of $241.2 billion—up 17% over last year. In a study by GraphicSprings (n=24,000), it found that 100% of millennials worldwide recognize Apple’s logo, although Apple brand recognition is less than that of Coco-Cola. Whether it’s the iPhone, iPad, MacBook or Apple Watch, Apple has seamlessly saturated our daily lives and has found a way to make everyday tasks easier and more manageable. This means your product’s logo and marketing efforts should be providing knowledge and a level of enthusiasm that gets people excited to try your offerings. //-->. Apple is a brand with one of the highest levels of customer loyalty and this has catapulted them to the dominant position they enjoy today. Companies who do not continue to grow and adapt will always be left behind. This is a huge component of Apple’s business philosophy. Their products are powerful yet inclusive. This means products should evolve and continuously improve. Yes, that’s right. Buy from our preferred vendors, including The Apple Store and MacMall. They don’t just release a new product—they release the best new product. (212) 419-8286 Learn how your comment data is processed. For the eighth consecutive year, Apple sits at the top of Forbes’ annual study for the world’s most valuable brands. They are valued at $182.8 billion with brand revenue at $228.6 billion. If a person correctly recognized the logo, and also able to correctly identify the company’s business, the answer was counted as positive. Apple execs have often talked about making their products intuitive. We greatly appreciate the constructive suggestions and innovative ideas of our instructors Izzudin Busnaina and Mohamed Ennouri. The results—with a margin of error of +-4%—were rounded to multiples of five. Their strategy of push marketing tells people what they need before they even know they need it, creating a demand for something people previously had no concept of. Apple’s Brand Awareness When consumers associate a brand name with a particular service or product, they are said to be aware of the brand name. Brand awareness is a very important component of brand power. Apple doesn’t need to do that; everyone knows who Apple is. A big contributor to Apple’s success is that they know that one successful product does not ensure brand power. Every touch point conveys a modern, minimalistic brand image from the product design itself to its packaging to the Apple store where you can buy it. Apple users have come to expect nothing less than brilliant innovation and revolutionary technology in their phones and computers. In fact, they create so … This means your product’s logo and marketing efforts should be providing knowledge and a level of enthusiasm that gets people excited to try your offerings. It has become necessary for companies to give consideration to these devices with their business model to stay up-to-date with consumer trends and preferences. While this is incredibly impressive, it isn’t all that hard to believe. This paper has benefited greatly from the input of the Marketing Management course. You may have noticed that at $1,499, the biggest iPhone with the largest storage capacity costs more than some MacBooks. Your next phone could cost more than your laptop. However, when it comes to global brand recognition, Coca-Cola is at the top, while Apple is in fifth place. Before people can even consider switching to a new provider, they have to consider all they would be giving up. This is a brand that has managed to fill us with heart-pumping anticipation as we wait in line to buy the latest piece of personal tech that will no doubt be superior to all others on the market. For businesses that want their customers to purchase more than once over their lifetime (which is most), knowing how to … Apple has built a lifestyle brand and not a functional brand, it’s peoples perceptions of what Apple says about them (lifestyle brand) and not what it does for them (functional brand). var ad_rnd = Math.round(Math.random() * 10000000000000); On September 12, 2018, the iPhone XS and the XS Max were launched at price points starting at $999 and $1,099, respectively. To conduct the study, GraphicSprings first identified the 200 most important companies in the world, using sales as a metric based on the Forbes Global 2000 list. We are surrounded by iPhone and Apple users everywhere we go. Brand loyalty is what establishes that emotional connection. Most brands use social media to increase their exposure and brand awareness. There are device support phone numbers and tech support personnel at every store to help when people are having trouble with their devices. This is the element that ties all the prior steps together and generates a following of people who believe in what your brand stands for. + ad_rnd + '"><\/sc' + 'ript>'); Trust is key. Apple brand recognition is at the top in the technology industry among millennials, beating Microsoft, Intel, IBM, HP, and Dell. We’ve seen a number of examples where brands like Corona have shifted toward selling an experience rather than just a product. Apple is constantly planning their “next big thing”, always finding new ways to innovate and surprise. __ez.scxr.getDW(document).write('