The Handbook of Marketing presents a major retrospective and prospective overview of the field of marketing, and provides a landmark reference at a time when many of the traditional boundaries and domains within the marketing discipline have been subject to change. The Handbook frames, assesses and synthesizes the work in the field and helps to define and shape its current and future development. It includes contributions from leading scholars in the field, and the input of an international and extremely distinguished advisory board of marketing academics. The Handbook of Marketing will be invaluable to advanced undergraduates, graduate students and academics in marketing.
Chapter 8: Branding and Brand Equity
Branding and Brand Equity
Although brand management has been an important activity for some companies for decades, branding has only emerged as a top management priority for a broad cross-section of organizations in the last decade or so. A number of factors have contributed to this trend, but perhaps the most important is the growing realization that one of the most valuable assets that firms have is the intangible asset that is their brands. As will be outlined below, creating strong brands can have a number of bottom-line and other benefits to a firm. As a consequence, branding principles have been applied in virtually every setting where consumer choice of some kind is involved, e.g., with physical goods, services, retail stores, people, ...