A strong brand can be a very powerful asset for a firm. Over 50% of consumers say that a known and trusted brand is a reason to buy a product. As a result, a brand allows a company to charge a price for its products that is consistent with its image. A successful brand can also increase the market value of a company by 50 to 75 percent. This increased valuation can be very important to a firm if it is acquired, merges, with another firm, or launches an initial public offering.
Category: Entrepreneurship & Small Business