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A Valuable Promise
At the BrandWerks Group we like to keep things fairly simple. Like our 12-word definition of a brand: "A brand is a distinguishing identity and promise that benefits the consumer". Words aside, the important thing to remember is that brands are more than just unique, clever symbols. They are promises that must be meaningful and beneficial to consumers. And how well those promises are fulfilled is what creates brand value.
What's It Worth?
So, what's a brand worth? That depends on when you ask. For the Izze Beverage Company, a 2003 startup that sold recently to Pepsi, that value is now $75 million. When Coca Cola's contoured bottle was first designed in 1916, the cost was miniscule. Today the brand is worth $120 billion. "Just doin' it" today is worth a mere $29 billion. Recent upstart LaraBar is now churning out $20 million in sales.
A Valuable Investment
Sure, these are examples of extraordinary companies that excel in many ways. But they all started with smartly positioned and professionally designed brands. When it comes to branding, it's a level playing field. Any brand can be successful, and valuable...if done right.
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