A new study from Heartbeats International suggests that while almost all respondents agree that music can strengthen a brand, a lack of resources that companies devote to music remains a major problem.

In the 31-page report, titled "Sounds Like Branding," the Stockholm-based brand communication agency asked brand directors or managers from 70 majors brands for their input. The report begins by examining the role music plays in the branding strategies of various corporations. For example, 68% of companies say music is an important tool in building a brand and 96% of respondents claimed music can strengthen their brand.

But Hearbeats found that seven out of ten companies were found to spend 5% or less of their marketing budgets on music, and only two out of ten have a sound logotype (such as the identifiable Intel logotype heard in its commercials).

When asked what factors are holding them back, 37% of respondents said the difficulty in measuring the value of an investment in music. The difficulty in dealing with legal rights was another common response.

For the full survey results, skip to page 27.

Here is an accompanying video of representatives of Heartbeats and Bacardi giving a presentation based upon the Sounds Like Branding report. It's 38 minutes in length and worth the time if you're in the advertising, marketing or branding worlds.