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The problem with a brand is that you don't know if it's the most effective use of the resources that go into it.

Coca Cola has nearly infinite resources, compared to the jobs I've worked (<$75mm annual revenue).

Even then, can they prove the value of their brand is an effective use of their marketing dollars? What I've read has a lot of correlations that could be explained by other causes.

For a good read on this, check out the Intel Inside section on this article: https://conversionxl.com/cro-vs-branding/