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188 Chapter Eight
Figure 8.1 The Power of Brand Names
a brand as “a name, term, symbol, or design, or a combination of them, which
is intended to signify the goods or services of one seller or group of sellers
and to differentiate them from those of their competitors.” Scott Davis (2000)
defines a brand as “an intangible but critical component of what a company
stands for,” and “a brand is a set of promises, it implies trust, consistency, and
a defined set of expectations. The strongest brands in the world own a place in
the consumer’s mind, and when they are mentioned almost everyone thinks of
the same things.” Mercedes Benz stands for prestige and the ultimate driving
experience; Ralph Lauren stands for classic looks, high status, and pride.
The strongest brands usually stand for superior functions, benefits, and quality;
without these, you cannot be the strongest brand in the world. However, superior
functions, benefits, and quality alone will not make the strongest brands. Does
Table 8.1 Leading U.S. Brands from 1933 to 1990
Brand Market
Eastman Kodak Cameras/film
Del Monte Canned Fruit
Wrigley Chewing gum
Nabisco Baked goods
Gillette Razors
Coca-Cola Soft drinks
Campbells Soup
Ivory Soap
Goodyear Tires
Source: Arnold (1992).