Coke Knocked Down

For the last 13 years, Coca Cola has been the most valuable brand in the world according to Interbrand's Annual Best Global Brands Report. This year, however, for the first time since the report's inception, Coca Cola isn't number 1.

Surprisingly, it's Apple that's taken that ranking.

Honestly, I thought Google would outrank both Coca Cola and Apple. "Google," is used as a noun AND a verb. Google is used by internet users worldwide - and it DID take the 2nd place spot to Apple, with Coca-Cola moving to 3rd.

Apple, however, shows the importance of brand identity and consistency as well as brand awareness even when your product isn't universal. From a CNN article, "Every so often, a company changes our lives, not just with its products, but with its ethos," Interbrand CEO Jez Frampton said in the report. "This is why, following Coca-Cola's 13-year run at the top of Best Global Brands, Interbrand has a new No. 1 -- Apple."

To learn more about how Interbrand values the brands on their top ten list, they offer a brief video here.

The business applications for brand valuation can be broadly categorized into three areas:

• Brand Management
• Strategy/Business Case Development
• Financial

Business Week offered this look at the twists and turns of the top 10 brands in the Interbrand study, which analyzes a brand's financial strength and influence, going back to 2000.