Brand Benefit #4: It Increases Product Value And Price

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There are many good reasons why brand development can be a difference maker for your business. This is the fourth of ten posts highlighting those reasons for your consideration. Read the previous post.

Over time a consistently communicated and reliably demonstrated brand increases in value. Not only as a marketing tool, but also as a measure of a business's total financial value.

In fact, for the last 20 years Interbrand, an international brand consultancy, has published their annual listing of the top 100 brands based on a calculation of each brand's contribution to its company's earnings and future earnings potential. Their numbers represent real dollars attributable to the ability of the brand to attract business. See their latest report.

In addition, a strong brand allows a product to command a higher price. In an often-quoted study from international advertising agency BBDO, the leading brand in a category was found to command a 40% price premium over a generic brand and a 10% price premium over the number two brand.

Prove this yourself the next time you are in the grocery store.

But the takeaway isn't about a specific price premium or dollar contribution; it's that a strong brand delivers measurable financial benefits to both consumer- as well as business-focused companies.

Read about the other 9 brand development benefits now.

To talk to someone about the difference-making value of a brand for your business, contact us today by e-mail or phone, 903-534-5220.