The world's biggest brands were put to the test, and quite a few New Jersey companies made the list of the most valuable global brands in 2014.
The Brand Finance Global 500 released Wednesday is an annual study conducted by the brand valuation consultancy company Brand Finance. It scores companies on a wide variety of measures on Brand Finance's Brand Strength Index, from desirability, loyalty and consumer sentiment to visual identity, online presence and employee satisfaction.
Coming in at the top is California-based Apple as the world's most powerful brand.
A few New Jersey companies also made the cut:
According to an analyst at Brand Finance, Campbell Soup Company was in the model but "it wasn't quite big enough to make the top 500."
The news release issued by Brand Finance notes that banking companies are the top total brand value by sector, with 71 brands in the top 500 that helped create an overall $633.1 billion in revenue this year compared to $581.4 billion in 2013. Technology companies are below that with 44 brands in the top 500 that net $615.8 billion and telecommunications with 47 brands in the top that make $500.1 billion.
According to the release, Brand Finance calculated the brand value by determining the royalties a corporation would have to pay to license its brand if it did not own it, known as the 'royalty relief' method. Including Brand Value, each of the 500 brands accorded a brand rating; a benchmark of the strength, risk and potential of a brand relative to its competitors. A detailed methodology of how the brand values are calculated can be found here, and the results from the 2014 study can be found here.