A brand strategy always guarantees success
It seems like every company is touting its branding strategy these days, but many of these ideas never make it outside the marketing department. The 2002 Best Practices Study conducted by Prophet, a branding and business consulting firm, found that the concept of brand strategy often receives little more than lip service in many firms. Only a small majority (53%) of the 90 global corporations surveyed had a long-term brand strategy in place. And only 40% of respondents were very satisfied with their company’s strategy. Of those surveyed, 62% cited lack of senior management support as the most pressing threat to a brand’s long-term success. (Marketing Management, 2002)
