Businesses that target consumers, such as retail, luxury and hospitality, allocate significant sums to brand building. It’s necessary to remain competitive.
In other sectors it’s not so clear. This article looks at a yardstick any leader can apply to evaluate brand building budgets.
One size does not fit all
Of course, there are an almost infinite number of variables when it comes to making decisions about investing in branding.
If it is to be seen as an investment and not an expenditure, there must be some idea of returns.
The article helps to frame spending on brand building in the context of expected objectives – these should deliver measurable business value.
