Meanwhile, firms associated with relatively cheap products - McDonalds fast food and Kellogg's cornflakes, for example - have seen the value of their brands rise relative to others in the recession. The lesson seems to be consumers don't value expensive things they don't actually need to buy so much when times are hard. Car companies, such as BMW and Toyota, along with Harley Davidson motorcycles, have seen above average declines in the value of their brands - as have some luxury firms, like watchmakers Cartier and Rolex, and Armani clothing. Its latest survey suggests the recession has had a considerable impact on the corporate pecking order. For example, it claims the world's top brand Coca-Cola is currently worth $68bn, a couple of billion dollars less than 12 months earlier. It's hard to put a financial value on a well-known corporate name but every year the marketing consultancy Interbrand has a go. The report finds some car and luxury product manufacturers have been seriously hit by the economic downturn. The global recession has reduced the value of some of the world's biggest brand names, according to a recent report.
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