To create value a brand must be endowed with meaning. It is the meaning — the story — that determines how that brand is perceived and the degree to which it is preferred over alternatives. Some brands have stories that have evolved over the years and are continually refined. Other brands are new or reinvented and the story needs to be retold or developed from whole cloth.
A CMO is always faced with the tasks of increasing sales, increasing profit, increasing awareness and preference. Many strategies can be employed to move in this direction, but without properly telling the brand story, success will be limited.