New National Survey Shows Alarming Fear Among 81% of Turnaround Management and Private Equity Managers that They Cannot Place a $ Figure Next to, or Manage Brand Value
In many cases, the brands companies own can be worth more than any other asset. Yet Private equity and Turnaround management experts were not confident in their own ability to manage brand equity and only 31% of senior marketers felt they could handle Brand Value themselves without outside help. This expertise gap calls for a new set of skills. It takes people, such as Richard Guha or Harry Falber, who have run businesses, grown up in marketing, but are also expert in finance and operations.
Pasadena, CA (PRWEB) November 7, 2006 -- A recent survey carried out by Max Brand Equity – a firm specializing in Turnaround and Private Equity brand equity management – found that in many cases brands owned may be worth more than any other assets. Brand Value is difficult to measure, but even more difficult to grow.
There are a few measures which can quantify what a brand is worth. Approximations though they are, they can help guide us. However, when it comes to deciding what has to be done to optimize the value of the brand – short or long-term – that is far more difficult. Even the majority of senior marketing executives, as shown in a recent survey of 100 in the US, which we carried out, suggested that few felt they could do it themselves. 69% hired a consulting firm to help them.
During conversations with senior marketers, as well as turnaround management and private equity managers, it became clear that most of them recognized that they do not have the skills or experience to succeed at this. Yet by default, they are making such decisions. Most of them do not know where to turn to get deep expertise. Some private equity firms are making more brand driven acquisitions, and turnaround management firms are realizing that most of the businesses they address have at least a branding component. So the need to bring expertise to bear becomes more important, particularly as prices grow. A few Private Equity firms are bringing top marketers with general management experience at Partners.
Richard Guha, Partner in Max Brand Equity, ex-P&G and Mars, Inc executive, former CMO in Fortune 500 companies, and ex-President of Reliant Energy Retail, said, "Many Private Equity and Turnaround Management firms may be missing out because they do not fully exploit the brands they buy or manage. When we talked to many executives in these firms, they commented that the task often proves more difficult than anticipated, as it involves all the functions of the company."
The challenge in optimizing a brand is that brand value is driven by elements as diverse as distribution channels, price, product, customer service, billing, etc. as much as it is by advertising and presentation. Harry Falber, Partner in Max Brand Equity, formerly an executive with Polaroid and Kraft, successful entrepreneur in the Quick Service Restaurant business, and ex-President of Hallmark Flowers, also has strong feelings about brands: "In order to drive a brand successfully, you have to be able to blend all the measures of a skilled marketer with the business management expertise of a General Manager. You have to be able to deal with operations, finance and technology as well as marketing to optimize a brand."
These and other issues are discussed regularly on http://takecontrolof.blogspot.com/
Max Brand Equity, www.maxbrandequity.com a service of Take Control Of is a professional services firm which assists corporations, Turnaround management firms, and private equity firms to value and manage branded goods and services companies. The firm works to assess potential, identify steps required to reach it, and execute against that brief.
For more details, please contact Richard Guha, Partner, at 626-284-6965
###
Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/Q291cC1Db3VwLVNpbmctUGlnZy1NYWduLVplcm8=
Bookmark -
Del.icio.us |
Furl It |
Technorati |
Ask |
MyWeb |
Propeller |
Live Bookmarks |
Newsvine |
TailRank |
Reddit |
Slashdot |
Digg |
Stumbleupon |
Google Bookmarks |
Sphere |
Blink It |
Spurl
|
