Chapter 8 Summary: Creating Brand Equity

            I was once asked in an interview for a marketing position, “how would you describe our brand?” Looking back, that is one of the most important questions that could be asked of a marketing candidate. For one, it shows if the interviewee did their homework about the company but it also gives the interviewers an in depth and fresh perspective about their brand from a marketing professional.

            Creating, developing, maintaining, and enhancing a brand is a very tough job but it is critical in the success of any company. Take for example, the “Coke” brand and it’s red logo; everyone across the planet knows what that little red circle means. Coke probably even has their own pantone color for that bright shade of red with white lettering, in an unmistakable font. The logo brings images of summer and chilling outside with your friends. For some, it brings back the memories of the “good ole days.” For others, their mouths start watering and it’s almost like you can taste and smell the delicious carbonated beverage. Through their logo and advertising, Coke has established brand equity. The Coke brand sets the product apart from its competitors and has created loyalty to the product over the years. According to www.insidermonkey.com, Coca-Cola sells more than $125 million per day and the brand is worth more than $74 billion. 

            Another good example of a famous brand that has displayed brand equity and reinforcement over the years has been McDonalds’ golden arches. The brand itself is more than just the logo of two arches forming an “M,” it is also about the fact that McDonald’s has dominated the fast food market all over the world. It symbolizes a fast, hot, and cheap meal while on the go. McDonald’s corporation has reinforced the brand through their advertising and proved valuation because today the brand is work $95 billion. (www.insidermonkey.com)

            In my opinion, being able to describe a brand, more than just the logo, is valuable. It means the company is doing something right. It also means that all of their marketing pieces and advertisements are similar and reinforce the brand. Understanding a company’s brand is necessary to be a successful marketing professional.

Source: Kotler, Philip, and Kevin Lane Keller. A Framework for Marketing Management. 5th ed. Boston: Prentice Hall, 2012.           

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