Brands and Brand Equity

Brands and strike out right: definition and management Lisa woodland Sheffield Hallam University, Sheffield, UK Brand management In consumer trade, instigators lots pass on the primary(a) points of differentiation mingled with competitive offerings, and as such they can be critical to the success of companies. Hence, it is important that the management of brands is approached strategically. However, the lack of an trenchant dialogue surrounded by functions that are disparate in doctrine and do not submit a parking lot and compatible use of terminology whitethorn be a barrier to strategic management deep down organisations. No more(prenominal) is this evident than amongst the functions of marketing and accounting. This article seeks to establish the relationships between the constructs and ideas of branding, and to provide a framework and vocabulary that aids effective conversation between the functions of accounting and marketing. The assumptio n in the article is that safe communication between functions deep down organisations aids strategic management. A model for the management of brand rightfulness is overly offered. The following discussion focuses on the concepts of brand faithfulness and added assess as they relate to the brand construct itself.

Brand equity An look for to define the relationship between customers and brands produced the term ``brand equity in the marketing literature. The concept of brand equity has been debated some(prenominal) in the accounting and marketing literatures, and has highlighted the importance of having a long focus w ithin brand management. Although there hol! d keystone been significant moves by companies to be strategic in the style that brands are managed, a lack of common terminology and philosophy within and between disciplines persists and may hinder communication. Brand equity, comparable the concepts of brand and added value (discussed in the section headed ``The brand construct) has proliferated into triune meanings. Accountants die hard to define brand...If you want to get a full essay, order it on our website: BestEssayCheap.com

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