NEW YORK—Interbrand/BusinessWeek’s “Best Global Brands” special report reveals the recession has presented brand stewards with the most severe test of their careers, which means companies have had to adjust rapidly as consumers re-examine their purchases and rethink brand loyalties.
The top 10 brands are the same as last year with Coca-Cola retaining the No. 1 spot again. According to the report, marketing executives are balancing the temptation to chase short-term gains with discounts and promotions against the risk of cheapening their brands over the long haul. Meanwhile, most have considerably smaller budgets with which to reach their customers.
Amazon, Pepsi, Audi, Panasonic and Campbell’s all prospered during a challenging year for marketing executives. For the first time, the overall value of the top 100 brands has declined 4.6 percent, or $55.472 billion. Seven brands fell right off the list—among the biggest were Merrill Lynch, which ranked No. 34 last year, and AIG, previously No. 54, after both required emergency assistance from the U.S. government. ING, ranked No. 86 last year, also fell off the list after huge subprime losses. Not surprisingly, big banks and auto brands fared the worst, while food brands benefited as consumers began eating more at home.
