What is a Brand?
Updated: Mar 24, 2021
BrandWorxx partook ISO-committee to standardize brand valuation (ISO 10668). The standard defines brand as an intangible asset intended to identify goods, services or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
- In developed countries intangible assets represent over 80% companies total assets. Brands make the most of them.
- Brand is companies most important driver for future growth potential.
- Brand creates price premium in the market, delivering a higher margin.
- Brand creates volyme in the market, because brand is bought more likely than the standard product or service.
- Brand creates lower customer acquisition costs.
- Brand builds loyalty and higher “Customer Lifetime Value”.
- Brand attracts best talent.
- Brand attracts best investors.
- Brand allows more economical funding.
- Brand allows more economical distribution.
- Brand scales to new categories and markets.
- Brand lowers the riskiness in business when the market is unstable.
Brand might be intangible, but it creates significant and tangible value to market performance and company value.