The Power and Value of Branding

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[excerpt]  | Branding is an investment, and like any other investment there are risks and rewards. To minimize the risks, a company must have a solid branding strategy. To reap the rewards, a brand once developed must be properly managed.

A strong identity…requires continuous evaluation and,
in many cases, revitalization to keep it up to date
and increasing in value over a long period of time.

To build a strong identity, a company must first establish its position and brand strategy. A company must also project a consistent message, conveyed through
the brand name, trademark, trade dress and all visual communications on and off line. A strong identity also requires continuous evaluation and, in many cases, revitalization to keep it up to date and increasing in value over a long period of time.

Well known, recognizable brands can be an organization’s most valuable financial asset. They are the engines that drive the business, and yet too many executives don’t give brands the ongoing attention they demand and deserve.

Author Elinor Selame
Source AllBusiness.com
Publication Credit Union Management
Date February 1 2000
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