Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing. Today is Smart Monday and we’re going to take a look at what your brand is worth.
Before we focus on your brand, we’ll look at the valuation of a few of the world’s largest brands. Many people would guess that Apple is valued #1 in the world. Data from various sources put the range anywhere from $34 to $184 billion dollars.
You may believe that Coca-Cola is the top brand. Their valuation comes in between $72 and $74 billion. McDonald’s worldwide brand is valued between $36 to $95 billion, Toyota $22 to $28 billion and Nike between $15 and $16 billion.
There may be great disparity in the estimated value of an individual brand. The valuation process is both an art and a science. In valuing a brand, one factor experts consider is how much a consumer would be willing to pay for the product when measured against a similar product. Take Coca-Cola for example, it’s just a syrupy brown liquid but people pay far more for Coke than they would a generic brand. Financial performance is another factor along with forecasts and public opinion.
Determining the value of your brand can be a very expensive process especially if you engage a company that is known for its statistical research and analysis and brand valuation. If that is out of reach you can always use a gut estimate.
As you apply advice from Once a Day Marketing to your business, you are increasing the valuation of your brand and potentially creating goodwill which we have also discussed recently. Continue to stay the course and maintain your marketing and branding efforts. Over time your company will be worth more no matter how you determine the valuation.
That concludes Smart Monday. Join us tomorrow for Strategic Tuesday. To discuss an online or face to face service engagement and enhance the marketing and branding for your organization, contact James Glover: (505) 501-1330 or email@example.com. I’m Jim Glover, That Branding Guy, for Once a Day Marketing and we’ll see you next time.