The greater your command of brand loyalty, the less you must worry about price sensitivity and competitive promotions-and the less you must pay for marketing.

Of all the things that your company owns, brands are far and away the most important and the toughest. Founders die. Factories burn down. Machinery wears out. Inventories get depleted. Technology becomes obsolete. Brand loyalty is the only sound foundation on which business leaders can build enduring, profitable growth.

When you look at a strong brand, you see a promise.