By country – The Most Valuable Brands of 2018

What is Brand Value? According to Seth GodinA brands value is merely the sum total of how much extra people will pay, or how often they choose, the expectations, memories, stories and relationships of one brand over the alternatives.

Here is a graphic of the Top Global Brands courtesy of TopBrands.net.

brand value

Still not sure what brand value is?  David Brier suggests you ask these questions. Feel free to switch out the name of a brand, destination, athlete or retailer to one for which you have a passion:

  • What made the iPhone so valuable in the eyes of consumers?
  • What makes a Porsche or a Tesla so revered with avid fans?
  • What makes Disney Theme Parks timelessly enduring?
  • What made the iPad a must-have?
  • What made Michael Jordan such a valuable basketball player?
  • What makes Nordstroms’ customer service so legendary?
  • What makes certain food items insatiably desirable?
  • Or certain restaurants? Or chefs?
  • Or certain shopping destinations?
  • Or certain hotels, venues and cities?
  • Or certain actors of artists?

Are you starting to understand brand value and how elusive it is? And just to drive it home David Brier give this analogy.

To appreciate this fully, what if you or I had the ability to generate as much money as wanted. (I’m talking totally legal! Just imagine as an exercise in magic as in “Poof! A pile of cash!”) Or being able to cook the most amazing meals like Bobby Flay? Or be able to dunk like Jordan?

Instantly, these things and people (money, cooking, dunking the basketball) would become less valuable because they were readily available.

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Brand and Branding – A Fundamental Difference

The common misconception in branding is that your brand and branding your company are the same thing. They are definitely related, but they are definitely not the same thing. When you can grasp the fundamental difference between the two, you can leverage your brand more effectively. Confusion between the two can lead to problems establishing your brand because you might overlook something very important.

First, in their most basic sense, a brand is a concept and branding is communicating a brand concept. Did you catch it? A brand in an idea and branding is implementing that idea. To use an analogy, the brand is the bullet and branding is the gun. Branding applies the brand to your target market just like firing a gun at an intended target.

 

Let us define what a brand is. Essentially it is a concept developed in the consumer’s head about your company as a result of their experience with your company. Now this concept can just occur naturally without any purpose or brand development from you, which could be a huge liability, or you can be proactive in creating and developing your brand concept that you want the consumer to have.

Now let us look at branding. It is the transmission of the brand concept to the consumer through the use of brand elements and brand signals. Branding will happen even if it is intentional or not. Proper branding will be successful in transmitting the brand concept to the consumer without losing the integrity of the brand concept.

Source: Branding

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