B. Value of branding.
When a company has a decrease in sales the first thing that marketers consider is the brand. They try to prevent their brand from being coated with dust, they want it to be always clear.
Creating loyal consumers who will still use your product even if there were a better existing product in the market, is one thing that marketers believe in to increase their brand value (7:51). Light says that a brand is promise to the customer (6:3). Branding is one way that makes the process of decision-making easier, that is by helping consumers to limit their choice (6:3). There are thousands of brands in almost each industry, so there must be something that makes it easier to choose between the over loaded shelves.
For marketers there are three important things that must be considered in a brand to have a good value in an over-stored market. First, it must be about something that the consumer cares about.
Second, it must be distinctive and specific separating the product or service from the rest of the market. Finally, it must be trustworthy (can be trusted) (3:67).
III. BRAND MANAGEMENT.
A. Brands are valuable assets .
In some cases, brands can be the company's most expensive asset. In Coca-Cola's 1995 annual report they reported: "If our company burned to the ground, we would have no trouble borrowing the money to rebuild, based on the strength of our trademarks (brands) alone (3:67). Table1 shows some of the world's most valuable brands.
In1995, Financial World magazine reported that Coca-Cola's brand had an estimated value of $39 billion. The Marlboro name was set at $38.7 billion, Microsoft was worth $11.7 billion. IBM had an estimated value of $7.1 billion. Finally, Intel was set at $9.7 billion (6:1). These were some examples that shows how can brands be valuable assets, sometimes even worth more than all other assets that the company own combined.
Brand equity is a recognized base value apart from product sales revenues, which Almquist said about it the following: "Companies do not own the customer's mind.
