Mukesh Ambani’s Jio is the fifth strongest brand globally : Report

According to the ‘Brand Finance Global 500 2021’ report, Mukesh Ambani’s four year old telecom venture Reliance Jio has been ranked the fifth strongest brand globally.

The annual report by the Brand Finance Global reported that despite being a new entry in India’s telecom scenario, Jio has quickly become the largest mobile network operator in the country and the third largest mobile network operator in the world, with nearly 400 million subscribers.

“Entering the ranking for the first time this year and claiming the title of the world’s 5th strongest brand, is Indian telecom giant, Jio, with a BSI score of 91.7 out of 100 and the elite AAA+ brand strength rating,” said the report.

Brand Finance’s Global 500 ranking determine strongest brands globally and also comment on the relative strength of brands. The report is topped by WeChat.

The report further read that, known for its incredibly affordable plans, Jio took India by storm through offering 4G to millions of users for free, simultaneously transforming how Indians consume the internet.

“Jio scores highest in all metrics consideration conversion, reputation, recommendation, word of mouth, innovation, customer service and value for money compared to its telecom competitors in India,” report siad.

Jio was Mukesh Ambani’s re-entry into the telecom business.

“Renowned for its incredibly affordable plans, Jio took India by storm through offering 4G to millions of users for free, simultaneously transforming how Indians consume the internet known as the ‘Jio effect’,” the report added.

As reported by The Hindu, Brand strengths were determined through metrics of marketing investment, stakeholder equity and business performance. The assessment of stakeholder equity incorporates original market research data from over 50,000 respondents in nearly 30 countries and across more than 20 sectors.

WeChat usurped Ferrari to become the world’s strongest band. Russian bank Sber is placed third and Coca-Cola fourth.

The Chinese mobile app is one of merely 11 brands in the ranking to have been awarded the elite AAA+ brand strength rating, it said.

The brand has no major weaknesses within the sector, and unlike other telecoms brands globally, Jio has shown that it has broken the mould, and enjoys genuine affection from consumers, the Brand Finance report added.

Jio is the fastest-growing brand in the ranking in the telecom sector in terms of brand value, bucking the negative trend across the industry, with a 50% increase to $4.8 billion.

Verizon has also recorded a healthy brand value growth, Verizon being the world’s most valuable telecom brand was up by 8% and stand at $68.9 billion, It has re-entered in the top 10 for brand value following its absence in 2020.

According to the 2021 ranking, Apple is the most valuable brand followed by Amazon and Google.

 

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