By Scott Davis Scott Davis is a Senior Partner in the Chicago office of Prophet, a leading consultancy specializing in helping senior marketers more effectively use brand and marketing to drive profitable growth
Would your business recruit top MBAs and then leave them in their offices to learn by osmosis? Would it invest millions of dollars in equipment, but fail to maintain it over time? Would it park its Treasury funds in a 1.9% savings account?
Of course not.
People, capital and machinery are crucial business assets. As such, they must be given the proper nurturing in terms of investment, management and maintenance for their value to prove out over time.
If an asset is defined as a property with an assumed value that should be consistently maximized by an organization, then shouldn’t businesses also be managing their brands as the assets they are?
It’s a notion that an increasing number of organizations are beginning to understand and apply as integral to their long-term, underlying business strategies – the strategy is called brand asset management