Brands and Brand Equity

Brands and strike out correctly: definition and focal point Lisa Wood Sheffield Hallam University, Sheffield, UK Brand charge In consumer trade, tags lots provide the primary points of distinction mingled with competitive offerings, and as such(prenominal) they can be critical to the victory of companies. Hence, it is important that the management of trademarks is approached strategically. However, the lack of an trenchant dialogue surrounded by functions that ar disparate in philosophy and do not submit a ordinary and compatible theatrical role of terminology whitethorn be a barrier to strategic management deep down organisations. No more(prenominal) is this unpatterned than amongst the functions of marketing and accounting. This article seeks to take a crap the relationships betwixt the binds and ideas of piting, and to provide a model and vocabulary that aids effective confabulation between the functions of accounting and marketing. The assumption in the article is that good communication between functions deep down organisations aids strategic management. A model for the management of brand rightfulness is in like manner offered. The following discussion focuses on the concepts of brand equity and added care for as they relate to the brand construct itself.

Brand equity An look for to fructify the relationship between customers and brands produced the term ``brand equity in the marketing literature. The concept of brand equity has been debated both in the accounting and marketing literatures, and has highlighted the enormousness of having a long-term focus at heart brand management. Although there hold bottom been significant moves by companies to be strategic in the stylus that brands are managed, a lack of common terminology and philosophy inwardly and between disciplines persists and may embarrass communication. Brand equity, like the concepts of brand and added value (discussed in the parting headed ``The brand construct) has proliferated into multiple meanings. Accountants give-up the ghost hard to define brand...If you want to get a full essay, consecrate it on our website: Ordercustompaper.com

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