Executives chase awards and recognition for their brands in large part because they acknowledge the efforts, successes, and achievements of the business and because they increase market awareness and raise the company’s profile. Evidently, it doesn’t hurt that awards also impress business partners and shareholders. And while some accolades are less prestigious, others serve as success benchmarks. Industry experts regard Interbrand’s Best Global Brands study, for example, as a top of the best performing and most inspiring companies in the world. It goes without saying that every executive wants to hear that their brand is among the most valuable in the world.

Interbrand examines all brands according to three criteria: “Financial performance of the brand's products or services”, “Role of the brand in the purchase decision process” and “Strength of the brand with regard to securing future corporate earnings.” Even this year, the ranking includes various luxury car brands, like German automaker, Mercedes-Benz and Elon Musk’s EV company, Tesla. Mercedes-Benz is the only European car manufacturer included in the top ten of Interbrand's 100 Best Global Brands. Interbrand ranked Toyota sixth, while Tesla is in 12th place. BMW follows right after the electric vehicle company, in 13th place.

“Mercedes-Benz’s sustained ranking in eighth place as well as the double-digit increase in brand value to more than 56 billion US dollars provide affirmation of our strategic course. That is to define the sustainable luxury of the future, to put our customers even more at the centre of everything we do, and to make every point of contact with our brand a unique experience. It makes me proud that the work of our entire team for our brand is paying off and is reflected in this great result”, says Bettina Fetzer, Vice President Communications and Marketing at Mercedes-Benz AG.

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This Is What Helped Mercedes-Benz Secure The Power Position In The Ranking

2024 Mercedes-Benz EQE53 AMG front third quarter view
Mercedes-Benz

In a press release, Mercedes-Benz proudly announced that the company “increased brand value by 10 percent and remains the world's most valuable luxury automotive brand.” The press release makes it clear that the German luxury car manufacturer wants to "achieve a structurally higher brand positioning" by introducing new models that are better suited to consumer needs. As such, Mercedes-Benz is powering ahead, with its plan of becoming fully electric in every segment by 2030 and CO2-neutral by 2039.

The luxury car manufacturer is also putting a bigger emphasis on customer equity, and “communication and sales are increasingly focused on the needs and desires of customers.” Accordingly, even in the future, the customer-centric strategy that is currently employed will prioritize unique brand experiences and collaborations with “personalities and brands from a variety of industries – from technology to fashion, music, film, and sports. Such co-creations enable completely new perspectives,” says Mercedes-Benz.

Related: Ranking The 10 Most Valuable Automotive Brands In 2022

This Is What Makes Mercedes-Benz The World's Most Valuable Luxury Car Brand

Mercedes-Benz-C63_S_AMG_E_Performance-Front View
Mercedes-Benz

“Mercedes-Benz believes its brand’s value has grown since last year, mostly thanks to its involvement in making battery-electric vehicles (BEVs) and software investments,” says Autoevolution. To be fair, it is not just the strategic direction or the software investments that have increased the brand’s value. But it is also the positive brand perception, the brand personality and the ongoing enthusiasm that the German automaker inspires among fans and gearheads. Just like market leaders Apple and Tesla, Mercedes-Benz has a very loyal customer base that stays faithful to the brand for years and even decades. Additionally, the German luxury automaker is also mastering the ownership experience. This means that Mercedes-Benz keeps luring customers even after they have made a purchase, so every time a current owner enters a dealership, he or she receives the same degree of care and consideration as a potential buyer.

According to a recent report from the CMO Council and LiveTechnology titled Product Ownership: Lasting Satisfaction or Painful Distraction, 47 percent of the 2,000 North American consumers polled say manufacturers and retailers care for their customers “very well” or “extremely well” after the sale, especially when it comes to service or maintenance. DM News breaks down the figures and points out that of that 47 percent, just 17 percent of respondents say companies care for their clients “extremely well” post purchase. Basically, not even one client in five receives an exceptional post-purchase experience.

Prioritizing post-purchase experiences becomes even more important today than in the past because a new generation of luxury consumers is entering the market. Generation Z buyers are generally used to smooth, best-in-class digital experiences, so they expect and demand only the best. Evidently, automakers like Mercedes-Benz and BMW distinguish themselves in this crowded market because they deliver superior customer experience at every stage of the purchase process.

Sources: Mercedes-Benz, Autoevolution, Zawya, and DM News.