World Brand Lab released the 19th annual list of The World's 500 Most Influential Brands on Dec. 15, 2022. Apple, Microsoft, and Google claimed the list's top three slots. The U.S. touts the most representation, followed by France, Japan, China, and the U.K. The qualifications of this much-lauded list are based on a brand's global influence. The list can be found at the website of World Brand Lab.
Dr. Steve Woolgar, Chairman of World Brand Lab and Professor Emeritus of Marketing at Oxford, noted that 33 countries are on the 2022 list. Still, companies from the U.S. represent 198 out of the top 500 brands, retaining influence as the global brand superpower. France, Japan, China, and the U.K. comprise the second most influential global camp.
Germany, Switzerland, and Italy comprise the third tier of brand powerhouses, with 28, 18, and 15 selected brands, respectively. Even though the European economy is experiencing unrest due to geopolitical risks and an energy crisis, their brands remain robust. However, the number of selected Chinese brands (45) has surpassed that of the U.K. (35). These brands from China include State Grid, Haier, China Resources, China Life, Wuliangye, Tsingtao Beer, Chow Tai Fook, Sinochem, China Southern Power Grid, Hengli, XCMG, and Beidahuang.
The World's 500 Most Influential Brands is judged based on a brand's global influence, with three key indicators, namely market share, brand loyalty, and global leadership. When measuring brand loyalty, iTrust Rating's brand database was consulted. SuperFinance's ESG database was referred to when measuring brand leadership, especially ESG performance.
An empirical study conducted by a joint team from World Brand Lab and SuperFinance found that the relationship between brand value and ESG performance is becoming stronger. B2C brands are more dependent on ESG performance than B2B brands. The 2022 list of the 500 most influential brands spans 47 industries, and the average age of the listed brands is 98.22 years. The list includes 222 time-honored brands that are at least a century old. The French brand Saint-Gobain remains the oldest brand on the list, at 357 years old.
According to Dr. Pierre Chandon, Professor of Marketing at INSEAD, who will attend the World Executive Summit and the release event of the brand list on Dec. 20, "Co-branding is a strategy for brands from emerging markets to enter developed markets. Partnering with a winner is a great start to raising overseas brand awareness." To Dr. Jennifer Aaker, Professor of Marketing at Stanford, developing storytelling skills is essential in creating a solid brand image for consumers. Stories connect us to meaning, extract meaning, and communicate meaning.
Dr. Haisen Ding, CEO of World Executive Group and World Brand Lab, believes that, in the age of globalization and digitalization, strong brands are supported by an invisible reputation ecosystem. Collaboration with stakeholders is a shortcut to brand success. Adi Ignatius, Editor-in-Chief of Harvard Business Review, highlighted that adaptive brands are the most enduring and create a framework to achieve that endurance.
Since 2003, World Brand Lab has tracked more than 80,000 major brands in 60 countries. This leading brand consulting, research, and evaluation firm, which was co-founded and first chaired by the late Professor Robert Mundell, the 1999 Nobel Laureate in Economics, is wholly owned by the World Executive Group. World Brand Lab serves over 100 Fortune 500 companies and over 300 of China's 500 largest companies.
Senior Brand Analyst
Press Release Service by Newswire.com
Original Source: World Brand Lab's 2022 List of Most Influential Brands Names Apple, Microsoft, and Google at Top