#marketing
Brands

A brand represents everything that a product or service means to consumers. As such, brands are valuable assets to a company. For example, when you hear someone say “Coca-Cola,” what do you think, feel, or remember? What about “7-Eleven”? Or “Google”?

Some analysts see brands as the major enduring asset of a company, outlasting the company’s specific products and facilities. John Stewart, former CEO of Quaker Oats, once said, “If this business were split up, I would give you the land and bricks and mortar, and I would keep the brands and trademarks, and I would fare better than you.” A former CEO of McDonald’s🍟 declared, “If every asset we own, every building, and every piece of equipment were destroyed in a terrible natural disaster, we would be able to borrow all the money to replace it very quickly because of the value of our brand. . . . The brand is more valuable than the totality of all these assets.”
Thus, brands are powerful assets that must be carefully developed and managed.