Over the years intangible assets have grown more and more in importance and brands have grown in their value too! The world has come online and there are many new markets and a growing middle class in countries like India, China, Brazil, Russia, South Africa, Nigeria, Indonesia and many more places. Not only will the value of brands continue to grow but brands can play an important role in the growth of these areas.
This proximity breeds innovation. Cities are hubs of productivity, innovation, goods and service providers for their regions. Consumers buy brands, not products. The best brands today are meaningful in the lives of consumers. They are much more than products, names, advertising, etc. Brand performance management is a challenge that requires a sophisticated strategy and professional partners.
From an organization’s viewpoint, a strong brand is a valuable asset. It is, however, an intangible asset. Its value to the company ultimately depends on the value of the brand to consumers, reflected by the extent to which they rely on the brand to make decisions. For this reason it has historically been difficult for organizations to evaluate brands and give them a financial valuation.