Branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot iron stamp, and was subsequently used in business, marketing and advertising. A modern example of a brand is Coca Cola which belongs to the Coca-Cola Company.
A brand is often the most valuable asset of a Corporation. Brand owners manage their brands carefully to create shareholder value, and brand valuation is an important management technique that ascribes a money value to a brand, and allows marketing investment to be managed (e.g.: prioritized across a portfolio of brands) to maximize shareholder value. Although only acquired brands appear on a company's balance sheet, the notion of putting a value on a brand forces marketing leaders to be focused on long term stewardship of the brand and managing for value.
We consider branding to be at the heart of marketing. Strong branding and positioning are key to success. However, the rules for branding success are not set in stone and may evolve over time.
That's why we recommend frequent reading as a means to stay up to date on current theory and practice. Reading of professional marketing books because marketing authors put a lot of time and study into research before they write a professional marketing book. Their knowledge, vision and know-how inspire marketers to excel in their profession.
In this section, we share the thoughts of the brightest marketing minds on branding