"The majority of senior marketers (55%) lack a quantitative understanding of their organizations' brand value and may be missing out on opportunities to leverage their brand to drive business growth, according to a survey from the Association of National Advertisers (ANA) and Interbrand."
And for small to mid-size firms this percentage is much much greater, as this study was preformed with large organizations. This is a huge disadvantage and loss if not addressed at the top level.
"Top-performing companies make absolutely certain that brand is a central organizing principle, but, for many in the marketing industry, creating and managing brand value still follows an archaic model - it is limited strictly to the marketing department," said Jez Frampton, global CEO of Interbrand.
Therefore is it essential for small to mid-size firms to address this issue head on.