Tuesday, November 12, 2013

Technology's Impact on Marketing

For the last thirteen years Coca-Cola (KO) has held the number one slot as the world's most valuable brand. But it was only a matter of time before the the well known brand was knocked from its thrown. But it didn't just drop to second, but third place. Who finally unseated this soda giant? According to the Market Intelligence Center Apple took over as king of the marketing hill, with Google taking a close second.

The annual report by consulting company Interbrand that lists the years “Best Global Brands” has been released every year since 2000. This is the first year since the reporting began that Coke has not taken first place. In 2011, Apple ranked eighth on the list, but few are surprised that they have made it to the top of the list. The fact that they barely surpassed Google did surprise some. However, with the massive increase in technology, how people communicate, work, play, and shop, many are not surprised. Mr. Jez Frampton, a chief executive at Interbrand, felt it was only a matter of time before technology took over the top spots.
Among the top ten best global brands, five of them are in the technology industry.

While executive vice president and chief marketing leadership officer Mr. Joseph V Tripodi did express disappointment at no longer holding the top spot, he stated that they were honored to be included in such an esteemed group of global brands and congratulate both Apple and Google on their success.

The face of marketing continues to change with the times. New technology has opened marketing doors that were not available before. With an ever increasing global market, social media, advanced viewing devices, and broader accessibility, the face of marketing will continue to change. With Facebook's 2012 IPO and the hype surrounding Twitter's pending decision to go public, marketing experts will have to stay on their toes. Apple and Google had better stay on their toes too – remaining on top may be more difficult than they imagined. Technology is moving faster every day, and as many marketing directors are finding out, things can change in just a short period of time.

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