Indian Billionaire Mukesh Ambani's four-year-old telecom venture Reliance Jio occupied the fifth rank in the list of strongest brand across the globe pushing behind the likes of Ferrari and Coca-Cola. WeChat tops the Brand Finance's Global 500 ranking of the strongest brands globally, which determined the relative strength of brands, according to its annual report on most valuable and strongest global brands.
"Despite only being founded in 2016, Jio has quickly become the largest mobile network operator in India and the third-largest mobile network operator in the world, with almost 400 million subscribers," it said. Brand Finance, the world's leading brand valuation consultancy said, "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'". Jio offered free voice calling and dirt cheap data for mobile phones, as Mukesh Ambani made re-entry into the telecom business.
Brand Finance said the strength of the brand 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. The dominance of the (Jio) brand across the nation is evident from the results from Brand Finance's original market research, said the Brand Finance. Jio scored highest in all parameters, consideration conversion, reputation, recommendation, word of mouth, innovation, customer service and value for money - compared to its telecom competitors in India, Brand finance added.