Building a brand is vital to the success of any business, big or small. When a product is used or consumed by billions of people around the world, the feelings they associate with that brand can make it or break it.
Every year, Interbrand, a global consulting firm, compiles a list of the top brands. This year, much of the top 10 remained unchanged, dominated by companies like Coca Cola -- whose patrons consume over 1.7 billion servings daily -- along with Microsoft and Google. However, a growing global favorite, Apple, made its debut in the top 10 after a year of innovation and emotion gained the attention of the masses.
Although the list is dominated by billion-dollar corporations, many of the traits and strategies that keep these companies on top can be applied to small businesses. From a more organized product portfolio to focus on sustainability, these principles of huge corporations can help grow and sustain your small business.
Interbrand's Global CEO Jez Frampton offered us his analysis on what keeps these top 10 global brands the kings of their industry, and how those plans can apply to small businesses.