Power Brands

Book excerpt: Contrary to the belief that brand management is mostly a matter of art and luck, the teams at McKinsey teams found out how brands can be measured, built, and managed systematically. Power Brands reveals the secret of strong brands, presenting a holistic approach to brand management, which combines precise science with target-oriented craft and inspiring art. Using concepts developed from a university study, the book introduces McKinsey BrandMatics, which combines systematic, qualitative concepts and indicators (e.g., brand image) with quantitative ones (e.g., revenue potential), resulting in a comprehensive and transparent framework for successful brand management.