RIL Jio ranked as fifth strongest brand globally
Jio is behind the likes of Coca-Cola and Ferrari, while WeChat has topped the list determining and ranking the brands on their relative strength.
The four-year-old telecom venture Reliance Jio of billionaire Mukesh Ambani has been ranked 5th on Brand Finance’s Global 500 ranking of the strongest brands globally. Jio is behind the likes of Coca-Cola and Ferrari, while WeChat has topped the list determining and ranking the brands on their relative strength.
According to the annual report of Brand Finance on the most strongest and valuable global brands, despite being founded in 2016 Reliance Jio has become the largest mobile network operator in India. It is also the third-largest mobile network operator globally, with almost 400 million subscribers.
The launch of Reliance Jio was the re-entry of Mukesh Ambani into the telecom business. The network offers free voice calling and cheap data for mobile phones.
In the released ranking, Chinese Mobile app WeChat has usurped Ferrari and has become the world’s strongest brand. While Russian bank Sber is in third position and Coca Cola is on fourth.
How the brand strengths were determined?
The Brand Finance informed that the brand strengths were calculated through the metrics of stakeholder equity, marketing investment, and performance of the business. The assessment of the stakeholder equity incorporates the original research data of the market from over 50,000 respondents in nearly 30 countries globally and across more than 20 sectors.
Reliance Jio emerges as a fifth strongest brand:
As per the Brand Finance, Reliance Jio which is renowned for its incredibly affordable plans had taken India by storm by offering 4G to millions of users for free. Simultaneously, the telecom network also transformed how Indians consume the internet which is also known as the ‘Jio effect’.
The dominance and influence of the brand across the nation have also been visible from the results of the original market research done by Brand Finance.
Jio, in the research, scored highest in all the metrics- reputation, consideration conversion, word of mouth, recommendation, customer service, innovation, and value for money, when compared to its telecom competitors of India.
Brand Finance also informed that the network has no major weaknesses within the sector and unlike any other brands, Jio has shown that it broke the mold and enjoys customer's genuine affection.
In terms of brand value, Jio is the fastest growing brand in the ranking in the telecom sector. It bucks the negative trend across the country, with a 50% increase to USD 4.8 billion.
Most valuable brand:
As per the 2021 ranking, Apple has been declared as the most valuable brand globally. It is then followed by Google and Amazon.