Brand Finance has released a new standard on brand evaluation, ISO 10668, which helps to structure the appraisal of all areas of brand value management. This is essential for businesses to understand the support behind their brand, what people think about it, and how it brings value. Companies that conduct structured measurement programs will minimize waste in spend and maximize return. Brands are made up of various elements such as product quality, service quality, innovation, aspiration/association, and company conduct, which build brand reputation. Brand reputation amplifies demand for a business' products and sustains demand when one or another of those drivers of demand is weak. The value of intangible elements like brands is contingent on their use, and companies that use their brands effectively will sell more products or services.
