Columbia University in New York is the second-ranked school of business in the U.S. Professor of Marketing, Dr. Don Sexton, offers refreshing insights into the value of branding. The refreshing part is the measurability of brand value! That is always the marketer’s/advertiser’s lament: “I know about half of my budget is wasted! I just don’t know which half!”
Dr. Sexton has a number of intriguing observations about the merits and measurability of branding – not the least of which is the characterization of the equity in your brand to be an asset just like any other asset. I found this to be particularly courageous. Few experts want to come right out and quantify the results you can expect to get from your branding effort. According to Sexton,
“Estimated company brand equity values include $69.0 billion for General Electric, $53.3 billion for Microsoft, $42.1 billion for Toyota and $36.6 billion for Johnson & Johnson.”
I hope you are noticing all those ‘b’ words! If these kinds of heady figures surprise you, you need to continue to learn more about the whys and wherefores of branding! (Although, I was surprised to learn that Microsoft is No. 2, until I realized that G.E. is No. 1, of course!)
