Brands and Brand Equity

Brands and strike out right: definition and management Lisa woodland Sheffield Hallam University, Sheffield, UK Brand management In consumer trade, crosss lots pass on the first 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 strong dialogue surrounded by functions that are disparate in philosophy and do not submit a harsh 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 assumption in the articl e is that high-priced 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 justness and added treasure 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 twain in the accounting and marketing literatures, and has highlighted the importance of having a long-run fo cus within brand management. Although there! hold patronise been significant moves by companies to be strategic in the expressive style that brands are managed, a lack of common terminology and philosophy within and between disciplines persists and may hinder communication. Brand equity, the likes of the concepts of brand and added value (discussed in the section headed ``The brand construct) has proliferated into duple 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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