What is the Business Value of a Brand?
VisionTEK
Last Update 3 年前
Brands are business tools that drive measurable ROI. Apple’s brand may be intangible but that doesn’t mean it isn’t the single most valuable thing that Apple owns.
As we learned in the previous section, Apple’s brand is how the company is perceived by those who experience it.
The forward-thinking, seamless experience of the Apple brand has become an inextricable part of the identities of a legion of devoted followers.
The Apple brand is the reason you literally couldn’t pay many Apple customers to use any other product.
For this reason, Apple’s brand is the company’s ultimate competitive advantage. And as such, its brand is Apple’s most valuable asset. Nothing else even comes close.
A strong brand increases the chances of customers choosing your product or service over your competitors. It attracts more customers, at a lower cost per acquisition, who are happy to pay a little more and will buy a little more often.
To better understand what a brand is and why it is so valuable, let’s start by breaking it down to its fundamental elements.