A brand is a product that can provide customers with functional benefits and added value that they think is worth buying. Brands can provide customers with more value or benefits than ordinary products-functional and psychological. They are produced in the relationship between brands and consumers. The strong and special relationship makes the brand form other intangible asset values besides the functional value of the product: making consumers willing to buy a brand and pay more money, resisting the harsh market environment, forming a competitive advantage, gaining the leverage of distribution channels and so on. This is the core connotation and function of the brand.

The traditional view that brand value comes from brand assets or financial value is increasingly challenged. Brand value comes from the market, that is, consumers' recognition, trust and loyalty to the brand are respected According to the theory of "differential land rent" and the theory of dual elements of goods, brand value is not only related to the quantity and quality of special labor input of producers, but also related to the degree of market recognition; Under the given market conditions, brand value depends on the fit between the producer's special labor input and market recognition, which is the result of their interaction.

There is no doubt that the value of a brand to an enterprise is enormous. 1990, Dodon borrowed $41800 million from Citibank with the company's trademark as collateral; Coca-Cola Company claims that if one day, Coca-Cola's factories around the world are destroyed, but as long as he wants to make a comeback, it won't be long before he can return to the original scale. The reason is very simple, it has a secret production formula, and more importantly, it has a world-trusted trademark (in 2002, the trademark value of Coca-Cola reached $696,654.38+03.7 billion, Iterbrand, 2002). PricewaterhouseCoopers 200 1 research on the German market shows that on average, the brand value of each company has accounted for 56% of the total value of the company, and in the fast-moving consumer goods industry, this figure is as high as 62% (Sattler etc 12002). However, there are different views on the source of brand value.

Law. Many people think that brand value comes from BrandEquity or financial value, that is, it brings premium income to enterprises beyond the sales of brand-free products, and its change will directly increase or decrease the monetary value of the company, which is undoubtedly created by the special labor of producers. However, some people think that brand value mainly comes from the market, that is, consumers' recognition, trust and loyalty to the brand. In my opinion, the formation of brand value is the result of the interaction between the former and the latter.

According to the general brand theory, brand equity usually includes the following elements:

Brand awareness, popularity, goodwill, loyalty, Lenovo and other patent assets. Integrate raw materials to form a brand, including concrete and abstract aspects, including texture, price, color, advertising, music and so on. Abstract aspects include functions, interests, emotions, feelings and so on. Through brand positioning, brand development strategy and communication plan are formed, and brand assets in cognition, popularity, goodwill, loyalty, association and patents are created accordingly.