As of the start of 2012, Apple Inc. became the top brand of the world putting Google in second place. The value of the enterprise is at $350,257 million and Apple's brand value is worth over $70,605 million, up about $40,000 million from 2011. Apple sells everything from smart phones to digital music and is best known for its Macintosh computers and iPods, iPhones, and iPads. Apple is the most valuable technology company, surpassing Microsoft. Microsoft dominated the business world providing goods and services that satisfied the needs of businesses, yet Apple's focus is on satisfying consumers wants and needs and this clearly generates the largest revenue. There are four distinct components of brand value which include reputation value, relationship value, experiential value, and symbolic value. Apple has become the most successful brand because they possess great value within these four components. Apple is always improving it's products and coming out with new versions of products that sell well. This helps create a great brand loyalty which Apple has with each of its consumers and has given Apple a good reputation value. People rarely complain with their Apple products and people have such a good experience with their Apple products that when a new version is released, they demand it and this has given the brand a good experiential value. Consumers find the Apple brand to be very reliable, and Apple provides good value for the money that is exchanged for their products which has helped establish a good relationship value with its consumers. And lastly, the Apple brand has a symbolic value which consists of being "the best of the best". When people see the Apple symbol on products they know that the product is an Apple product and is of high quality and is worth a good amount of money.
When you see the Apple symbol/logo what do you think of? What are your first thoughts that come to mind about the brand or product?
No comments:
Post a Comment