Chapter 8: Branding and Brand Equity
Kevin Lane Keller
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, organizations, places, or ideas. Driven in part by this intense industry interest, academic researchers and marketing commentators have explored a number of different brand-related topics in recent years, ...