Google is undoubtedly one of those brands that do not need an introduction. It has evolved in such a way that it has become a phenomenon around the world. When the name of a brand become a term, or a verb like ‘Google it’, that says a lot about its success. Introduced in 1998, it is now the world’s largest internet company in terms of revenue. Introducing new services and constantly improving in terms of technology keeps them on the top.
The brand equity of Google is so high that almost everyone around the world knows about it or has at least heard the name Google once in their life. The reason behind Google’s such high equity is a few elements like:
Brand Awareness
The awareness of the brand Google can be determined by the fact that almost 1.17 billion people use Google. These users are not only restricted to any one area, but they are from around the world as the reach has increased since it was introduced and is still growing. Awareness of Google can also be determined by the fact that it is ranked at number 2 in terms of Most Valuable Brand around the World. It is second to Apple, but it is further anticipated that Google will soon be at the top of the list.
Brand Loyalty
Google is just not used once by a user and with the introduction of various value-added services like Gmail, Google Drive and Google Maps and many similar services, the users are more likely to use it various times in a day. So there are billions of users that are loyal to the brand and Google is now a part of their personal and professional lives.
Brand Image
The image of Google in the user’s mind is that Google is the solution to all the questions or problems that arise in the internet world and even beyond that. Google always has answers. Users can rely on Google for storing of their private data, they can use Google to reach somewhere, they can use Google to build documents, they can use Google to watch movies and to sum it up, everything has a solution and that could be found through Google.
Brand Assets
In the last decade, Google has grown even more, in terms of its image and in terms of its financial growth as well as its reputation around the world. Of course, Google is very strong today than it was twenty years ago and now it holds even more assets that add to its bradn equity. Its brand value increased from 35 billion to 245 billion in the last ten years.
Brand Elements
The Logo of Google is identified by people around the world. And more importantly, Google first became internet slang but it has now become a term of more like a verb. When someone says, ‘Google it’ everyone knows what the person is talking about. This shows that Google has been able to successfully place their brand in their user’s minds just the way they wanted.
References
Google: brand value 2017 | Statistic. Retrieved February 25, 2018, from https://www.statista.com/statistics/326046/google-brand-value/
Google Tops Apple as the World’s Most Valuable Brand. Retrieved February 25, 2018, from http://fortune.com/2017/02/02/google-tops-apple-brand-value/
Richter, F. (2013, February 12). Infographic: 1.17 Billion People Use Google Search. Retrieved February 25, 2018, from https://www.statista.com/chart/899/unique-users-of-search-engines-in-december-2012/
The World’s Most Valuable Brands. Retrieved February 25, 2018, from https://www.forbes.com/powerful-brands/list/