Brand Assets, Strength & Value Explained ?
Brand assets: These are the sources of influence of the brand (awareness/saliency, image, type of relationship with consumers), and patents.
Brand strength at a specific point in time as a result of these assets within a specific market and competitive environment. They are the ‘brand equity outcomes’ if one restricts the use of the phrase ‘brand equity’ to brand assets alone. Brand strength is captured by behavioural competitive indicators: market share, market leadership, loyalty rates and price premium (if one follows a price premium strategy).
Brand value is the ability of brands to deliver profits. A brand has no financial value unless it can deliver profits. To say that lack of profit is not a brand problem but a business problem is to separate the brand from the business, an intellectual temptation. Certainly brands can be analysed from the standpoint of sociology, psychology, semiotics, anthropology, philosophy and so on, but historically they were created for business purposes and are managed with a view to producing profit.
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