Advent Blog

In Brands and Branding (2003 Clifton Simmons, et. al.), a series of authors and experts offer their insights on branding.  In the section “What is a Brand?” Tom Blackett offers the following guidelines for effective brand management:

1. Protect your brand: Blackett reminds us that trademarks and copyrights can legally protect the brand, but I would add that one must also work to protect the brand from dilution, inconsistencies, or improper positioning.
2. Honor your stakeholders: “Your customers expect attractive, well-differentiated products and services that will live up to their expectations and are well priced,” Blackett says. He further suggests you highlight the value of your brand to employees, shareholders, vendors and trade partners, and opinion leaders. 
3. Treat your brand as an investment not a cost: Among corporate assets, brands can be more valuable that any other piece of capital on the balance sheet.  Their value will increase with investments in marketing and development.
4. Exploit the financial potential of your brand: In addition to product and service development under the brand, companies should consider opportunities for co-branding, licensing, and franchising.
5. Understand that successful brand management is a complex task: It’s more than marketing skill; it requires awareness that a brand can become a corporation’s most valuable asset.