Why we need a theory of value

Colin McDonald

Argues the need for a theory which clarifies what is meant by `value' as applied to brands and advertising effects.

Why we need a theory of value

Although the concept of value is often discussed in the brand context, the meaning of 'value' has never been precisely defined. Colin McDonald presents his own idea of what it should really mean

Colin McDonald
THE IDEA that brands (as opposed to mere products) have 'value', and that advertising helps to create and build 'added values', keeps cropping up in discussions on advertising effectiveness. It is controversial: opinions range from those who believe that implanting 'added values' is the main function of advertising to others who, like Andrew Ehrenberg, would deny that brands...

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