Ferrari is the most powerful brand in the world. There is no typo or I accidently wrote Ferrari instead of Apple!
Today, Brand Finance announced that Ferrari is the most powerful brand. Sounds a bit interestingly. How a brand can overtake the most powerful company Apple? I mean horsepower is not adequate to achieve this manoeuvre. Apple has more money than most financial institutions and Apple’s product levels are on the top. No one can come near to Apple.
Moreover, no one can provide the same level of customer service like Apple. Just give a try! Buy something from a very well known brand and try to return ten days later, because you didn’t like it. You will see what will happen! Collapse of a dream.
I really love the Ferrari brand but cannot understand how it became the most powerful brand!?!
According to Brand Finance; Ferrari’s profits rose by 7.6% to €152m, from turnover of more than €1.75bn. I think Apple made more money from the iTunes store than the whole operations of Ferrari!
Here is the original statement from Apple;
CUPERTINO, California—October 25, 2012—Apple® today announced financial results for its fiscal 2012 fourth quarter ended September 29, 2012. The Company posted quarterly revenue of $36.0 billion and quarterly net profit of $8.2 billion, or $8.67 per diluted share. These results compare to revenue of $28.3 billion and net profit of $6.6 billion, or $7.05 per diluted share, in the year-ago quarter. Gross margin was 40.0 percent compared to 40.3 percent in the year-ago quarter. International sales accounted for 60 percent of the quarter’s revenue.
I don’t have any problem with Ferrari, however I wanted to have a look this situation from a different perspective to under more comprehensively.
In my personal opinion the most powerful brand is the one, which treats us the best. It might be Apple, Ferrari or a local store. Those figures do represent important and vital knowledge to scale a brand overall the market but when you focus on micro level, consumer level, our powerful brands can be different than the ones that are published.