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 “Any damn fool can put on a deal, but it takes genius, faith and perseverance to create a brand.” — David Ogilvy
 

Petroleum Giant’s Brand Value Takes Tumble Off Rankings

BP may have plugged the leak in the Gulf oil spill, but the damage done to its brand will take years to fix.  A new marketing industry report released this week shows the British oil company has tumbled off a list of the world’s top 100 brands.
 
Japanese automaker Toyota suffered from repeated recalls and safety problems, pushing it out of the top 10 on branding firm Interbrand’s rankings for the first time in seven years, according to the report. The damage could have been worse for Toyota, said Interbrand CEO Jez Frampton, hinting at how far BP fell.
 
But Toyota already had a reputation for reliability and turned back to that as it dealt with the crisis.
 
“Where Toyota got it right was that they went back to their vision, and they talked about what the Toyota brand was really about, quality and safety,” he said. “BP continued talking about tactics, not strategy, and they’re still not telling us what their long-term vision is.”
 
Brands are considered a company’s most valuable asset. They’re more than just logos and colors. Brands are shortcuts for shoppers, letting them know exactly what to expect. Interbrand ranks companies by the amount of their revenue attributable to their brands. It uses a formula that combines the brand’s future strength and its role in creating demand.
 
IBM, Microsoft and Google lead Interbrand’s 11th annual ranking of the “Best Global Brands.” Google (#4) sees a 36% increase in value over last year, bringing the brand closer than ever to rival Microsoft (#3). HP (#10) enters the top 10 for the first time, having increased brand value under a new business model and brand platform. For the 11th year straight, Coca-Cola (#1) retains its top spot as the number one ranked brand on the list.
 

Coca-Cola ranks No. 1

Coca-Cola has held the top spot every year since the survey’s inception in 2000, with its brand valued at $70.45 billion this year.
 
BP fell so much because the lengthy saga of the oil spill, coupled with the company’s mishandling of the crisis, was at odds with its identity. For years the company has been pushing its “Beyond Petroleum” slogan to get people to think of it as more than just an oil producer.
 
Technology companies Apple and Google grew the most in terms of dollar value, jumping at least 36
percent.
 
Google moved from seventh to fourth place, while Apple moved from the 20th to 17th.
 

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