“If you as a company tell me that you have a brand name, I’m going to ask you a question: ‘Do you have the power to charge a higher price for the same product?’”
“If your answer is no, I don’t think you have a brand. You may think you do, but I don’t think your brand has any value.”
Prof Aswath Damodaran
I recall on my MBA days, we were discussing about strengths and weaknesses of a company that was a cookies outsourcer (“real”, tasty sweet cookies). When speaking about weaknesses, a colleague mentioned “They lack a brand”. And I still recall that as sort of lighthouse principle. A brand is what the whole game is all about
At the L2 Innovation Forum, Finance Prof. Damodaran, delivered a very insightfull presentation about the real value of a brand, and what it takes to build one.
- A Brand Is the Most Sustainable Competitive Advantage
- Luck and Serendipity Are Just as Important as Advertising
- Brand Value is an Illusion
- Even Valuable Brand Names Lose Value
You can view his presentation here:
Presentation from Erica Swallow.