TODAY'S QUIZ: Stating the brand value
What's the most valuable brand in Illinois?
It's McDonald's, according to Brand Finance, which has studied America's corporate brands and ranked them by value.
The Oak Brook-based restaurant chain had a brand value of $26 billion, easily topping Illinois runners-up Walgreens ($15 billion), Accenture ($11 billion) and Boeing ($11 billion).
Altogether, Illinois placed 30 brands on the top 500 list. They included: Caterpillar ($7.7 billion), John Deere ($4.5 billion), Kraft ($3.1 billion), ADM ($2.7 billion) and Sears ($2.3 billion).
The most valuable brand in the nation, by Brand Finance's measure, was Apple with a brand value of $105 billion. Apple has topped the list for three consecutive years.
Illinois was deemed the fifth most valuable state by brand value, with a total of $125 billion. It ranked behind California ($484 billion), New York ($422 billion), Texas ($192 billion) and Washington ($152 billion).
How did Washington rate so highly? Think Microsoft, Amazon and Costco.
Twelve states were essentially brandless. None of the top 500 brands was based in Alaska, Hawaii, Maine, Mississippi, Montana, New Mexico, North Dakota, South Carolina, South Dakota, Utah, West Virginia or Wyoming.
In coming up with brand rankings, Brand Finance said it determined the value a company would be willing to pay to license its brand if it did not own it. That involved estimating future revenue attributable to a brand and calculating the royalty rate that would be charged for use of the brand.
See if you can identify which state is associated with the following brands. In each case, the brand is the most valuable in that state:
5. Casey's General Store