To win over millennials, brands must incorporate participative benefits into their models.

In the new Millennial-inspired Participation Economy, the old definition of brand value — the one that worked for decades — is dead.

As marketers, we knew that the sum of our core functional and emotional benefits divided by price would give us a proxy for brand value.  Stronger brands had more price elasticity.  However, the old definition no longer holds if you want to engage Millennials or older generations that are adopting a “Millennial Mindset.”

(Copyright© 2013 by Barkley. All rights reserved.)

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