Brands — A Topic Even More Mysterious Than Cryptography Itself
The King Of Brands Has Been Dethroned
Did you know Coca-Cola was, until recently, considered the most valuable brand in the world? The value of a brand is called “brand equity.” There’s even a dictionary definition for it:
“The commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself.”
In other words brand equity is what a brand is worth over and above what the product itself is worth.
How Did Coke Get To Be King Of Brand Equity In The First Place?
Do you know where the “Coca” in Coca-Cola comes from? It comes from the coca plant, the source of cocaine. Cocaine was actually once the most important ingredient in Coca Cola. After all, oranges are the most important ingredient in orange juice, peanuts in peanut butter, and it was coca in Coca-Cola. Even to this day, both Coca-Cola and cocaine share the nickname “coke.”