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Brands and Brand Equity Definition and Management
Brands and Brand Equity Definition and Management
Lisa Wood
Sheffield Hallam University, Sheffield, UK
Keywords
Abstract
Brand management
In consumer marketing, brands often provide
the primary points of differentiation between
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 effective dialogue
between functions that are disparate in
philosophy and do not have a common and
compatible use of terminology may be a
barrier to strategic management within
organisations. No more is this evident than
between the functions of marketing and
accounting. This article seeks to establish the
relationships between the constructs and
concepts of branding, and to provide a
framework and vocabulary that aids effective
communication between the functions of
accounting and marketing. The assumption
in the article is that good communication
between functions within organisations aids
strategic management. A model for the
management of brand equity is also offered.
The following discussion focuses on the
concepts of brand equity and added value as
they relate to the brand construct itself.
Brand equity
Management Decision
38/9 [2000] 662669
# MCB University Press
[ISSN 0025-1747]
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Lisa Wood
Brands and brand equity:
definition and management
Figure 1
The brand equity chain
Management Decision
38/9 [2000] 662669
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Lisa Wood
Brands and brand equity:
definition and management
Management Decision
38/9 [2000] 662669
Figure 2
The relationship between brand equity and
market power
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Lisa Wood
Brands and brand equity:
definition and management
Management Decision
38/9 [2000] 662669
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Lisa Wood
Brands and brand equity:
definition and management
Management Decision
38/9 [2000] 662669
Table I
Summary of brand definitions and descriptions
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Aaker (1991)
American Marketing Association (1960)
Bennett (1988)
Dibb et al. (1997)
Doyle (1994)
Kotler et al. (1996)
Stanton et al. (1991)
Watkins (1986)
Aaker (1996)
Alt and Griggs (1998)
Ambler (1992)
Boulding (1956)
Brown (1992)
de Chernatony and McDonald (1992)
Doyle (1994)
Goodyear (1993)
Keller (1993)
Levitt (1962)
Martineau (1959)
Murphy (1992)
Sheth et al. (1991)
Wolfe (1993)
Lisa Wood
Brands and brand equity:
definition and management
Management Decision
38/9 [2000] 662669
Figure 3
Measures of competitive advantage
Figure 4
The management of brand equity
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Lisa Wood
Brands and brand equity:
definition and management
Management Decision
38/9 [2000] 662669
Notes
References
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Lisa Wood
Brands and brand equity:
definition and management
Management Decision
38/9 [2000] 662669
Application questions
1
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