Calabasas, Calif.--Forty-three percent of executives polled said brand building is of vital importance to their companies, according to a new survey by Patrick Marketing Group. Fifty-seven percent said their companies spend too little on branding efforts.Only 3% said they view branding merely as advertising, indicating that executives are increasingly embracing non-advertising, integrated marketing techniques, including customer relationship management and e-mail marketing initiatives. The survey showed executives are placing a great deal of emphasis on maintaining brand equity. Seventy percent said their companies ensure consistency in every marketing message that touches their clients. Fifty-five percent said they promote their product tastefully. Thirty-five percent said their companies price their products to reinforce their image in the market, while 24% said their companies place products carefully.Twenty-eight percent said that inadequate positioning-differentiation is the most serious mistake that can be made when building a brand. A lack of insight and research is the biggest mistake, 25% said. Eight percent said a lack of internal and external communication is the biggest mistake.Executives polled for the survey are also placing much emphasis on internal branding. Sixty-six percent said their companies' intranet is their most important internal branding medium. Sixty-five percent said newsletters were, while 41% said seminars.The survey polled more than 300 executives at companies including AT&T Corp., Verizon Corp., General Electric Co. and British Petroleum plc.
--Philip B. Clark