According to Interbrand’s annual “Best Global Brands” list, John Deere and Company once again ranks inside the top 100, improving its rank from last year’s results.
The 2014 version of the list puts John Deere at number 79 overall, moving up from number 80 in last year’s list and six spots (from number 85) two years ago. Along with new product introductions and overall improvements in 2014, Interbrand also took into account Deere’s engine redesign program, which is proven to meet stringent U.S. and European emissions standards when assembling the rankings.
Additionally, from the report, “As part of its expansion strategy, John Deere completed new factories in China, Brazil, India, and Russia last year. The 177-year-old brand also invested in expanding and modernizing factories across the U.S. These efforts showcase the agriculture and construction brand's ability to balance its heritage with emerging market needs.”
Interbrand’s methodology for the compilation of the list notes, a brand must be truly global, having successfully transcended geographic and cultural boundaries. It will have expanded across the established economic centers of the world and have entered the major markets of the future to be included in the top 100.
Further, there are three other critical components that Interbrand considers in its evaluations, including:
· Financial Analysis: Overall financial return to investors, or “economic profit.”
· Role of Brand: Portion of the purchase decision attributable to the brand, as opposed to other factors (purchase drivers like price, convenience, or product features).
· Brand Strength: The ability of the brand to create loyalty and, therefore, sustainable demand and profit into the future.
The ability to change with the times, while staying true to its core values, has once again landed the agricultural equipment giant within Interbrand’s top 100 global brands.