How to Define and Develop a Brand
In Forbes’s list of top brands you will likely recognize Apple, Google, Microsoft and Coca-Cola as the top four brands on the list. But when you compare that to another Forbes list of top public companies in the US for example, you will see names like Berkshire Hathaway and JP Morgan Chase. Apple moved from the #1 slot in Brand Value to the #8 slot in biggest public companies. What is the discrepancy? Effective brands are those that have a perceived value greater than the sum of its assets. In other words, their customers are willing to pay a premium for their brand over competitors because of a perceived premium value. Developing a relationship with your customers where they place a premium on doing business with you creates a powerful relationship that can have lasting results. Brand value then is essentially the value customers place above your tangible assets and is...
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