Power of Branding - A Good Product isn't Enough

Posted on Mar 2, 2021

A board member of a major carmaker believed this wholeheartedly. “If we build good cars, we won’t have to worry about our sales figures,” he told me in the mid-1980s. Today this company is in big trouble. What a mistake! Fortunately, managers nowadays strike a much different tone. Martin Winterkorn, the CEO of Volkswagen Group, the largest car company in the world in 2014, said at a recent workshop that “we need to build excellent cars, but the brand is just as important as the product.” - Hermann Simon (Confessions of the Pricing Man)

Source: Confessions of the Pricing Man: How Price Affects Everything