Does brand value even exist?

I have seen that poor products form even the strongest branded companies fail, and many times they fail even worse. This observation has get me a deep question.

Does brand value even exist?

Good brand may be some products or the company that own good products. And always good products are admired. So when people say brand value, I see more important is the later term "Value" than the earlier term "Brand". Value is giving the best one can, and that is important in all situations. And that is paid for.

Brand is a trust. And in case of strong brands, the expectation customers have is also high. When these high expectations are met, the returns are huge. But this is in case of one brand industry. What if, there are many brands delivering high performance and customers need to chose one of them (which is the case occuring almost everywhere today). Does the company with the strongest brand value win?

I may be wrong, but I believe better products deliver more than brand value. And ofcourse, good products build strong brand. Converse, I find hard to agree.

What do you say?