Branding

What is brand equity and what does it mean for your business?

“Products are created in the factory, brands are created in the mind.” – Walter Landor

A former CEO of McDonald’s once said, “If every asset we own, every building, every piece of equipment were destroyed in a terrible natural disaster, we would be able to borrow all the money to replace it very quickly because of the value of our brand… The brand is more valuable than the totality of all these assets.”

In addition to being Intern Extraordinaire by day for Shout Out Studio, I’m a full-time college student at night. Think Batman, only for the good of marketing instead of justice. As I sit in my Marketing class I often come across a few terms, models and theories that make sense to share. That brings us to Brand Equity.

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A brand is a terrible thing to waste. It can also be a rewarding yet tiring thing to create. This total package of concrete and abstract things and emotions can seem daunting. Like trying to catch fog. Brand development contains a number of things to consider. The good news is that you can start to create a more clear picture of what your brand should be by asking yourself a few key questions. read more