Lessons learned from Brand Asset Management
- Brands have a hard value […], which can be appraised and have a financial worth assigned to it.
- If managed well and invested in consistently, […] brand should be able to charge a price premium relative to close competitors.
- Image and perception help drive value; without an image there is no perception.
- […] brand should be looked at as a long-term asset, but also as a vehicle for driving earnings on a regular basis.
- Long-term perspectives will only help to drive that value; anything done for short-term reasons will probably only denigrate the value of the brand.
- The brand has to be managed by its owners (such as senior management) or decisions may be sub-optimized. […].
Successful brands provide a platform for future products and allow entry into related areas. They provide the fuel to reinvest in the brand or invest in complementary areas.