YOU might not own one, but you’ve certainly heard of them.
Italian car maker Ferrari has been labelled the world’s most powerful brand due to its mix of desirability, loyalty and consumer sentiment, according to a brand strength index released today by Brand Finance.
Brand Finance CEO David Haigh said Ferrari’s logo of the prancing horse is “instantly recognisable the world over, even where paved roads have yet to reach”.
The brand is one of just 11 in a global elite that have ratings of AAA+ along with the likes of Google, Hermes, Coca-Cola and Red Bull.
See a full list of the world’s most valuable brands
“Ferrari inspires more than just brand loyalty, more of a cultish, even quasi-religious devotion, its brand power is indisputable,” he said.
But despite being powerful, the niche nature of such a luxury product means Ferrari is far from one of the world’s most valuable brands, ranked number 350 in the world with a value of $US4 billion.
Instead, tech companies dominate the top 10, along with consumer goods and food products.
Brand Finance’s world’s most valuable brands 2014 ($US) include:
Apple, US, $104.68 billion
Samsung, South Korea, $78.75 billion
Google, US, $68.62 billion
Microsoft, US, $62.78 billion
Verizon, US, $53.47 billion
General Electric, US, $52.53 billion
AT & T, US, $45.41 billion
Amazon, US, $45.15 billion
Walmart, US, $44.78 billion
IBM, US, $41.51 billion
Toyota, Japan, $34.90 billion
Coca Cola, US, $33.72 billion
China Mobile, Hong Kong $31.84 billion
T, Germany, $30.61 billion
Wells Fargo, US, $30.24 billion
Vodafone, UK, $29.61 billion
BMW, Germany, $28.96 billion
Shell, Netherlands, $28.57 billion
Volkswagen, Germany, $27.06 billion
HSBC, UK, $26.87 billion
Mr Haigh said Apple’s ability to monetise their brand has made them a global standout. However Samsung is hot on their heels with a $US59 billion jump in their value in the last 12 months.
“Though tablets were in use before the iPad, it was the application of the Apple brand to the concept that captured the public imagination and allowed it to take off as a commercial reality,” he said, adding the brand is the most valuable in the world for the third year running.
US companies dominate the top 500 with Japan taking second place, while Germany, France and the UK round out the top five.
Woolworths is the top Australian brand coming in at number 130 on the list, followed by Telstra, Coles, ANZ, Commonwealth Bank and NAB which are all within the top 250.