In the new Millennial-inspired Participation Economy, the old definition of brand value — the one that worked for decades — is dead.
As marketers, we knew that the sum of our core functional and emotional benefits divided by price would give us a proxy for brand value. Stronger brands had more price elasticity. However, the old definition no longer holds if you want to engage Millennials or older generations that are adopting a Millennial Mindset®.
Read the full piece I wrote on PSFK.com: Why The Old Definition Of Brand Value Has Died