Mumbai: Renowned Italian automaker Ferrari has been conferred the title of 'world's most powerful brand' in a survey conducted by leading brand valuation experts, Brand Finance. Ferrari achieved this brand rating inspite of being less valuable and smaller than the competition which included brands like Google, Hermes, PwC, Coca-Cola as also car companies like Volkswagen and BMW.
The survey which is conducted worldwide takes into account a particular company's revenue per customer, profit margins, marketing and advertising spend. Though the Fiat-owned Ferrari brand couldn't compete against the other companies with respect to size, it excelled in loyalty and brand affection.
Ferrari chairman Luca di Montezemolo commented: "It is always a pleasure to top any list and still more so when the competition includes some of the world's most famous companies. Behind this acknowledgement are exceptional products made by equally exceptional men and women. They made it possible and for that I thank them."
Though Ferrari couldn't compete against the others in size, it excelled in loyalty and brand affection.