It’s hardly surprising that BP has taken a powder in the brand stakes following the Deepwater Horizon disaster but Interbrand’s new list of the top 100 brands which shows it dropping off the radar entirely won’t make BP marketers any happier.
Top brand, once again, was Coca-Cola at $70bn followed by IBM, Microsoft, Google, GE (is GE really the world’s fifth most valuable brand?), McDonald’s, Intel, Nokia, Disney and Hewlett-Packard. Apple, amazingly not in the top ten considering that struggling Nokia is, is one of the biggest risers to 17th with a value of $21bn.
These things are subjective of course, surveys of ‘experts.’ But surely Apple is second only to Coke in terms of consumers ‘buying the brand.’ And it’s not a niche company any more, taking over from Microsoft for a while as the second-biggest company by market valuation on the Dow Jones share index earlier this year.
As for Nokia, which has slipped a couple of places, the brand surely can’t worth $8bn more than Apple at $29bn.
BP has bigger problems on its plate than the Interbrand index. But a valid question for the company’s top management, whoever that may prove to be, is when to start trying to rebuild the brand and how.
First it needs to get the blame game for the oil explosion and subsequent pollution out of the way (at least a year for that one) and start dishing out big sums from its compensation fund. But then it needs to decide if it can stick with its greener-than-thou corporate identity. It all looks pretty pathetic at the moment but if it drops the ‘Beyond Petroleum’ nonsense it will get even more stick.