Not sure that owning a “brand” is all that valuable? Consider this. Every major supermarket sells “store brands” – generic versions of the branded products on its shelves. Every consumer knows that the same companies that make the name brand products often make the store brands. So if customers know that a store brand is the same quality as the well-known name, at a fraction of the cost, store brands must outsell their more expensive counterparts, right? Not even close. Store brands and generics account for only about 7% of total sales. That’s the value of a brand – the preferred choice can charge a premium price. Brand matters.
