Value Based Marketing

In marketing, one brand is always trying to outwit, out advertise, and out spend its competitors, often costing millions of dollars to build their brand equity or brand value. It's because, the better we recognize a brand, the better we relate to that brand, the higher the value that brand has in our minds and the safer we feel purchasing that brand. The higher the brand value in the minds of the consumers, the more those prospects will purchase that brand, generating greater revenues for that brand company. Brand value is in the mind of the customer. It's no more than a perception. Change the perception and you change the perceived brand value.