A company's brand is a high-value asset

In a commentary, SMU Associate Professor of Marketing Seshan Ramaswami shared the key characteristics of a good brand and said that each company should constantly ask itself if it is doing everything in its power to create, maintain and grow its brand. He noted that the two primary properties of a brand are distinctiveness and consistency. “If your value proposition (the distinctive, consistent offering you have at the price that you charge) is of value to a significant proportion of your target consumers, your brand will start acquiring those other properties – memorability and positive associations. When consumers are making a choice in your category, your brand will be one of the first they will consider. And when they think of your brand, what comes to mind will be positive and distinctive associations.” Assoc Prof Ramaswami concluded that an intangible asset like a brand name is often neglected in the rough and tumble of everyday business operations, but this is one very valuable asset of multi-national companies and also small and medium enterprises.