Brand Reduces Your Cost of Selling
I am sure most of the readers must be aware of the classic experiment done to know the value of the Brand. In this experiment business minded people were asked, what would happen to the ability of raising funds of the Coca Cola Company if its assets gets destroyed in a fire one day. Most of people said it would only cost time, efforts and money, as it would be very easy for the company to raise funds and re-create its assets around the world again. On the other hand, if because of some reason all customers of Coca Cola Company taken sick of partial amnesia one fine morning, the answer given by people was that Coca Cola would not remain Coca Cola despite its having all assets around the world intact. Therefore, the value resides in the minds of customers and not in company’s assets . This is value of the Brand. Time and again, it has been proved that brand creates a business for a company and not a product. Products are only a means. There are instances in our life, proving to us ...