Countries that Dominate the Best Global Brand List
The countries that seem to appear to dominate the best global brand list are from developed nations with the best economies. Brands from these nations dominate this list because consumers from these nations have a higher level of disposable income to spend on goods thus demand quality from companies (Steenkamp 44). Further, these brands largely originate from consumerism-based economies like that of the United States. Consumers in these countries have the propensity to buy goods in abundance thus the companies must place a key focus on excellent customer service. Further, the nations produce multinational companies which have to operate in numerous jurisdictions. To that end, the goods must be tailored to meet the demands and requirements of a diverse consumer base thus continuous quality improvement is a key focus of these companies.
The Sectors which Dominate the List
The sectors which dominate the best brand list are technology and finance. The world has moved to a digital age where technology is being used in virtually every sector. This prevalence of technology has propelled technology companies to the top of the list since their services and goods are constantly being sought for by consumers (Steenkamp 151). Further, the constant improvement of technology means that the demand for novel technology will be perpetually high. Finance firms have constantly been in the best brands list since they provide a valuable service that is crucial to the operation of the global economy. As economies continue to grow, especially those from developing nations, the importance of these firms to the global economy is going to become more pronounced and significant.
Works Cited
Steenkamp, Jan-Benedict. “The uncertain future of globalization: implications for global consumer culture and global brands.” International Marketing Review (2019).
Steenkamp, Jan-Benedict. “Organizational Structures for Global Brands.” Global Brand Strategy. Palgrave Macmillan, London, 2017. 151-179.
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