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Assess Brands For New Profit Opportunities: Consultant

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NU Online News Service, Oct. 30, 2:10 p.m. – Senior executives should look at how each of their company’s brands fit the business’s overall strategy, advises corporate identity consultant Elinor Selame, president, BrandEquity International, Inc.

Speaking at this week’s Financial Institutions Insurance Association fall conference in Chicago, Selame said a company’s brand name self-appraisal should ponder what all of its brands are worth, individually and collectively. “Do they have extension, leveraging or licensing potential?” she asked. “Does a single brand have enough equity to be spun off and sold?”

Also consider which of your company’s brands earn the best return on investment and which ones are weaker and may need to be eliminated, Selame advised. Consider, too, which might have potential for expansion on a global scale.

Top management should also look at their brands for cross-selling opportunities, she advised. Finally, she urged executives to assure that their company has sufficient protection against trademark infringement of its various brand identities.