Brand

'Whats in a brand?' I used to ask when i was still a novice in this exquisitely sophisticated art of studying brands. Now after my 3rd sem enlightenment I'm a tad wiser and think twice before paying up for a brand, I wonder whats the premium they're charging for the brand? Do i actually relate with the vaue proposition the brand has to offer? Does its image and identity coincide? Has it been a case of brand extension gone awry? Numerous Qns about which i used to have vague ideas earlier are now so much easier to answer.
We keep complaining we don't get good faculty, but what if we get a faculty thats too good? Thats again a pain in You-know-where, we just can't stop complaining.. like good 'ol Kaali says..'Fees bhara hai na?' 'Time value of money pata hai?' btw he got a shock of his life yesterday when there were 17 absentees in his class.. it was a first and it was not expected, neither was his lukewarm reaction. But he taught well.
Coming back to brand, I have been telling this to anyone who would bother to listen - Mr Damodaran and Brand valuators don't see eye to eye. The value of a brand is required in times of mergers and acquisitions, 'how much premium to pay?' thats the big question, but Damu believes brand value is already factored in the stock price and hence no separate valuation is necessary, you pay for the company's stock (market value) and you factor in the premium for the brand, as simple as that.. or is it?
IFRS regulation require all companies to list the brand value under asset side of the balance sheet? why is that so?
Hence my conlusion that 'brand' like many other (useful?) terms has been coined by consultants to reap money and its like a tool in the hands of marketers to charge premium for a product where it may not deserve any... if it does it will be reflected in the market price without you harping about the value that product offers coz its under this brand. Foolish as this verdict may sound I choose to stand by it