The_Essential_Manager_s_Handbook

BUILDING BRANDS / 317

In focus

BRAND VALUE

Brands that have a clear

sense of themselves and have

worked diligently to deliver on

their promises are often quite

durable, withstanding economic

downturns, changes in customer

preferences, and game-changing

innovations in their product

category. The value of developing

brands is highlighted in two

quotes. John Stuart, former CEO

of Quaker Oats Company, said: “If

this company were split up, I

would gladly give you the property,

plant, and equipment, and I would

take the brands and trademarks...

and I would fare better than you.”

Carlton Curtis, VP of Corporate

Communication at Coca-Cola,

stated: “If all of Coca-Cola’s

assets were destroyed overnight,

whoever owned the Coca-Cola

name could walk into a bank the

next morning and get a loan to

rebuild everything.”

You cannot stand still; you

must continually innovate

to stay ahead of the demands

of the marketplace and the

shifts in everything from

demographics to target-

group tastes and preferences.

Demonstrate that you are

both innovative and protective

of the brand experience.

Consistently and

continually measure

results. Show your

investors, associates, and

business partners what

you’ve accomplished and

what improvements you

have yet to make.

Specify and communicate

those actions that are

essential to brand

success to those within

the organization who

must deliver on the

promise.

INNOVATION

ACTION

VALUE

A brand helps

separate you from

your competitors

in the hearts

and minds of

your customers

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