Probably not. But a company’s brand has the power to differentiate its products or services from those of its competitors - even when those products or services are exactly the same. And when 70% of the customers are willing to pay a premium for the branded commodities of their choice, a strong brand is a company’s most valuable asset. A good example of the power of brands in today’s world is Coca Cola. It is known as the world’s most powerful brand and has been valued at 72 billion USD!
We use and choose these brands on a daily basis – because we use commodities on a daily basis. Yet, we are almost oblivious to them. For example, we get up in the morning and brush our teeth with some ‘Colgate’. Men will shave with Gillette’. Next we have a bath with ‘Head and Shoulders’ and ‘Lux’. Before we leave for work, there is just enough time for a cup of ‘Nescafe’. Although these are just brand names, the commodities they represent are well known. Imagine what life would be like without these brands.
Infact, now a days, it seems like everything can be branded and commodities are no exception. B
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