TV Brand Equity: Why Brand Equity Is a Good Thing for TV
Although brand management had been on the American business scene for decades, the specific topic of brand equity did not become popular until the volatile 1980s, when once proud brands such as Sears, IBM, and Cadillac began to lose ground to lower-priced generic competition. Market shares dropped as a serious nationwide recession further aggravated corporate profits. This historic economic downturn inspired a rash of company consolidations and “downsizing” actions. Prudent cost cutting is indeed one way to shore up sagging profit margins, but as Sears’ CEO, Arthur Martinez, warned at the time, “You can’t shrink your way to greatness.” Brand building is essential for growth.