There has always been a struggle between marketers trying to convince corporate senior management that the company’s brand is its most valuable asset and should be included in the company’s overall investment strategy to ensure it works its magic. However, what do you say when the men and women in the corner offices ask you to quantify your argument for why the company should invest in branding initiatives? The challenge for marketers has always been finding metrics to measure the value of a brand. Certainly, one can point to brands like Apple and make the argument that the value of branding is too obvious to ignore. However, ignore it they will unless you can prove its worth.
Next time you head into a meeting in an attempt to secure budget for internal and external brand-building campaigns, use the list below to help you make your case. Use each item in the list below and attach at least one real-world example to it, particularly from your own company’s or your competitors’ experiences. You might not win your first argument, but you might just open some eyes about the intangible value of a brand. [Read more…] about What is Intangible Brand Value?
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This week, two of the best known brands in the pornography industry – Hustler and Girls Gone Wild, petitioned the U.S. government for a $5 billion bailout to reposition and rebuild both companies citing a 22% loss in sales and rentals over the course of the prior year due to the increased availability of sexually explicit material on the Internet. As far as the two brand champions, Larry Flynt and Joe Francis, are concerned — if banks and auto manufacturers could get bailouts, then why not companies that deal in pornography?
Each year,