Apple is world’s number one brand in technology, but when it comes to brand name and reputation, there are certainly other brands which can get more mileage (no pun intended) from their names. The case applies to Ferrari according to a new report by analysts at Brand Finance in their list of world’s most powerful brands. Ferrari has been named the world’s most powerful brand out of the Global 500 list of companies.
However, Ferrari is worth less and is much smaller when compared to the company that Apple has. But what Ferrari can now claim is its brand name. Apple comes in third followed by its tough competitor Samsung. The factors on which Brand Finance based its report is more than revenue generation as they also took into count net margins, average revenue per customer, marketing, and brand loyalty.
According to the CEO of Brand Finance, in their list they have included even those brands which have not much value in terms of their money, but they are still held in high standards because of their commitment to their products, services and consumers and most of all, they are liked by their target audiences.
Often Ferrari is just associated with automobiles, however, the company symbol can also be found on sunglasses, headphones and other items, which they make it accessible to even those who don’t even own a Ferrari car. According to business experts, when it says about the country to which the Ferrari brand belongs, Italy, is that even when facing a tough time in their national economy, they are providing business excellence.