They say a brand is a promise that you make to your customers and brand value is determined by how well you keep that promise.
I was chatting with Ruth Sanderson the other week from blue pea POD about the importance of business culture. Ruth calls it the silent assassin because a business with cultural conflict will struggle to survive.
Branding is clearly prevalent in consumer marketing. Very well known brands spend millions maintaining probably the most valuable asset a business has. Understanding what a brand is, is the first step in understanding how brand value is created.