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Brand Power

March 4, 2014

Brands are a very powerful component of virtually every business. Entire departments center around creating a quality marketing program, schools exist to train these professionals, and the hit AMC show Mad Men glamorizes the advertising business. Advertisements are present in every medium of communication – TV, radio, online, print, and social media – so everyone is well aware of the volume of these advertisements. The value of these massive (and expensive) ad campaigns is readily apparent, as the value of some of the world’s largest brands are listed below:

Apple – $104.3 billion
Microsoft – $56.7 billion
Coca-Cola – $54.9 billion
IBM – $50.7 billion
Google – $47.3 billion
McDonalds’ – $39.4 billion
General Electric – $34.2 billion

The value of these corporate brands is obvious, but what about the power of personal brands.

Personal brands are incredibly powerful tools that can be leveraged to help you develop your personal financial plan and to develop yourself professionally. Celebrities such as Jay-Z, Donald Trump, Richard Branson, David Beckham, Dr. Dre, and Mark Cuban have all cultivated powerful brands that are, in essence, extensions of themselves. These brands, and the products that are behind them, are household names. The former CEO (and founder) of Men’s Warehouse, George Zimmer, was fired in 2013 and ever since that time, the company he founded has been the subject of numerous buy-out talks, Board of Director squabbles,etc. It appears that his personal presence and brand strength were key factors in holding the firm together – “You’ll like the way you look, I guarantee it” became a phrase known in every household.

How strong is your personal brand?

http://www.forbes.com/powerful-brands/list/

http://www.stamfordadvocate.com/news/texas/article/Men-s-Wearhouse-Jos-Bank-signal-they-re-talking-5283832.php

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