NEW YORK: Coca-Cola is the world’s most respected brand, followed by rival PepsiCo, while Delta Airlines and H&R Block are the least respected, according to a study from consultancy firm CoreBrand.
The Brand Respect Report measured the levels of familiarity and favorability of 1,000 public companies. Brands with high familiarity and favorability ranked the most respected, while those with high familiarity but low favorability were considered least respected.
In last year’s study, PepsiCo and Coca-Cola tied as the most respected brands. While Coca-Cola nudged ahead of PepsiCo this year, both brands declined in favorability by 0.8 and 1.2 points, respectively. This drop in favorability was a result of challenges posed by the healthier foods movement, according to CoreBrand.
IBM, Apple, and General Electric debuted in the top ten most respected brands this year, taking the number seven, eight, and 10 spots, respectively.
All of the brands in the most respected top 10 increased their familiarity scores compared with last year, except for GE, which dipped by 0.4 points.
Delta Airlines had the lowest favorability score of the brands evaluated. Delta, American Airlines, and United Airlines were the only airlines that had high enough familiarity levels to be included in the study.
While Denny’s and Family Dollar Stores were ranked the fourth and ninth least respected brands, both made the largest advancements from the previous study, CoreBrands said. Denny’s saw its familiarity score rise by 3.4 points and favorability rise by 2.7 points, while Family Dollar saw its favorability score rise 3.6 points.
Other brands to be ranked in the top ten most respected include Hershey, Bayer, Johnson & Johnson, Harley-Davidson, and Kellogg.
Meanwhile, Big Lots, Best Buy, Rite Aid, J.C. Penny, Capital One Financial, and Sprint Nextel also made it into the top 10 least respected brands. Philip Morris and Foot Locker both dropped off the least respected list, while Campbell’s Soup, Colgate-Palmolive, and Esteé Lauder dropped out of the top ten this year.
The study shows that to become respected a company must build its brand over a long period of time, said CoreBrand CEO Jim Gregory. For example, Harley-Davidson, the sixth most respected brand, has "over time improved immensely," he said.
"It takes time to build a brand," Gregory added. "This is not just about advertising your brand, not just about social media or PR, but rather an understanding of the brand through the entire brand experience."