In 2017, Google was the most valuable brand in the world with a brand value close to 109.47 billion U.S. dollars. Strong brands enhance business performance primarily through their influence on three key stakeholder groups: (current and prospective) customers, employees and investors. They influence customer choice and create loyalty; attract, retain, and motivate talent; and lower the cost of financing. For example, Google is one of the most recognized brands in the world. In North America alone the brand's value amounted to approximately 229 billion U.S. dollars in 2016.
The influence of brands on current and prospective customers is a significant driver of economic value. By expressing their proposition consistently across all touchpoints, brands help shape perceptions and, therefore, purchasing behavior, making products and service less substitutable. Brands, therefore, create economic value by generating higher returns and growth, and by mitigating risk.