The Transformative CEO: IMPACT LESSONS FROM INDUSTRY GAME CHANGERS

26Be a Bold Brand Builder

Brand names are often the most valuable assets a company owns. The brand names Coke and Coca-Cola are worth more than all the plants and equipment and bottlers the Coca-Cola Company owns. Consumer package goods companies have always known the value of brands. Business-to-business marketers are starting to understand the economic leverage and advantage that strong brand names command.

Brands are a promise. (For example, Honest Tea’s, “Real Tea. Real Taste. Honest.” Or Campbell Soup’s, “M’mm M’mm Good. M’mm M’mm Good. That’s what Campbell Soups are: M’mm M’mm good.”) When the brand owner delivers on the promise, the brand owner gets loyal customers, positive word of mouth, and reduced marketing costs to acquire new customers. ...