There are hundreds of textbook definitions of branding but in the main they all describe the same thing "...a mixture of tangible and intangible attributes. Symbolized in a trade mark which, if properly managed, creates influence and generates value". But of course in practice it is a lot more than this, it is a network of associations in a consumer’s mind, which over time becomes a key source of value and competitive advantage to the business. A brand should also represent a central organising principle. Many companies struggle to grasp this concept, such that we so often see the rebranding of failing firms -when all else fails think up a new name.

 

Research conducted by Interbrand showed that two thirds organisations did not see brand as a central organising principle, suggesting many organisations still see the concept of branding as limited to the marketing department rather than a driver of behaviour and actions across the whole business to deliver a branded product or service.

 

The belief that it is not possible to prove the financial benefit of a brand is a major barrier to restructuring organisations to become more brand centric in their approach to business. It is however possible to quantify brand value, recent years have seen many companies intangible assets grow to be larger than their tangle ones.

 

The worlds top brands values and principles may sit in stark contrast to one another but they are all consistent within the business. Amazon provides a good example in this instance, Jeff Bezos mission is "... to be the earth's most customer -centric company... “and this is reflected throughout the value chain.

 

We can therefore conclude that branding is not just about advertising and packaging — it’s about how you train and develop staff and maintain a consistent idea. A logo is the visual bit, but the substance is the most important thing. It's what under the shiny logo that adds residual value to businesses.