" I don't really care what local marketing managers do to roll out their plans. But fiddle about with the brand equity and they are dead" said one global marketing director to me recently. 

Brand equity or what the public value in your brand is much more than just a logo. It's how people think and feel about your company and your product. You absolutely have to know what your customers think about it and what they value. 

There is the 'hard' and visible stuff like style, price and imagery which play a huge role and can be adapted. Then there is the "soft" stuff; feelings and judgement which is much trickier to manage. Making sure your company's values are supported with a good communications plan is pretty important.

But you can have the strongest brand in the world and be hit by a missile of bad news. The recent  emissions' scandal in the car industry is testament to that. But with careful handling recovery is possible. Brand equity is what defines a company so it needs to be cherished and cared for. Then the return on investment will be huge.