There's a common saying: 'The only thing constant in life is change.' This is especially true when it comes to managing brands. Look at Coca-Cola and how it spawned several brand extensions such as Diet Coke and Cherry Coke.

Your company spends a lot of time and energy creating and building brand name products. From the most memorable name, to the most enticing packaging, to the perfect combination of media, you want everything to be right.

Have you ever experienced one of those days when you hear a brand name and then start noticing that brand name at every turn? You hear a contest promotion on the radio, get a coupon in a magazine, see a commercial on the television, or notice a celebrity

Did you know there are 25 brands of laundry detergent? What influenced you to choose the brand you use? Was it the name? The logo? Maybe it was the clever slogan or catchy jingle.

Every time a corporate merger or buy-out occurs, you are sure to see plenty of headlines about the number of subsidiary companies each corporation owns. Here's why: brand equity.

There are three ingredients every company needs for branding success: a brand manager, a brand, and the consumer.