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An executive summary for
managers and executive
readers can be found at the
end of this article
Brand Asset Management2:
how businesses can profit from
the power of brand
Scott Davis
Managing Partner, Prophet, Chicago, Illinois, USA
Keywords Brands, Assets management, Strategy, Customers
Abstract What do the most powerful corporations in the world ± Sony, Disney,
Coca-Cola, for example ± have in common? Their success has been driven largely by the
strength of their brands. As such, these and other successful organizations tend to manage
their brands as key business assets that are a crucial underpinning to the overall
corporate strategy. Scott Davis explains the rationale behind Brand Asset Management2
and explains how forward-thinking businesses that expect to dominate their markets can
put this approach to use in their own organizations.
Power of the brand
Introduction
Consider some of today's most powerful global companies: Sony. Disney.
Coca-Cola. Their brands resonate with the public, each having particular
associations for consumers ranging from innovation to family entertainment
to refreshment. The power of their brands has contributed substantially to
their continuing success. It is a fact that is widely recognized in these
organizations as well as by marketing and financial industry analysts and
helps make the case for why brand is as much of a business asset as
employees, equipment or capital ± and should be nurtured with the same
diligence.
The idea, as savvy businesses increasingly recognize, is that brand should be
supported as an asset that is essential to an organization's long-term,
underlying business strategy. It is something we at Prophet call Brand Asset
Management2 (BAM), which is a balanced, organization-wide approach for
building the meaning of the brand, communicating it internally and
externally, and leveraging it to increase brand profitability, brand asset value,
and brand returns over time. This...