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...Companies such as Apple Inc., Google Inc., Coca-Cola Co., and Toyota Motor Corp. are four of the most valuable brands in the world. The most successful companies spend considerable time, energy, and money managing their brands. Why do they do so? Because it is economically beneficial for them. As they build their brand image in customers’ minds, they are able to have a more loyal customer base willing to pay extra for their products and/or buy more of their products. They recognize that to maintain and grow their customer bases most effectively, they should carefully nurture positive consumer perceptions of their products or services and correct negative misperceptions. For many years, Google knew it had a great Internet search engine, yet never tried to manage the brand. Only later did it realize that its brand was one of the most valuable assets. ...Live Mint on Nov. 11, 2016, 12:55 a.m.