The Brands Blog

News and opinion from the Group and its supporters

The economic importance of brands – seven reasons why brands (still) really matter

In 2004, we wrote an article on the economic importance of brands. The last thirteen years have seen dramatic changes in the world of brands but scepticism remains strong. We believe that brands are essential to consumers and add value to companies and the marketplace overall. Here we review the original seven reasons why brands matter to our economy.

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The value of brands

That brands are valuable is not a universally-held truth. Some consider them smoke and mirrors to sustain high prices, catalysts for unnecessary consumption or vehicles of cultural homogenisation. Others think and act differently, particularly if specific brands rather than brands collectively are considered. To them, their brand is a font of understanding, a frequently-used tool, a preferred choice, perhaps part of their self-expression and often worth a premium.

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