PreviewEver more firms and other organizations have come to the realization that one of their mostvaluable assets is the brand names associated with their products or services. In our increasinglycomplex world, all of us, as individuals and as business managers, face more choices with lesstime to make them. Thus a strong brand’s ability to simplify decision making, reduce risk, andset expectations is invaluable. Creating strong brands that deliver on that promise, and maintainingand enhancing the strength of those brands over time, is a management imperative.This text will help you reach a deeper understanding of how to achieve those brandinggoals. Its basic objectives are 1. To explore the important issues in planning, implementing, and evaluating brand strategies. 2. To provide appropriate concepts, theories, models, and other tools to make better brandingdecisions.We place particular emphasis on understanding psychological principles at the individualor organizational level in order to make better decisions about brands. Our objective is tobe relevant for any type of organization regardless of its size, nature of business, or profitorientation.1With these goals in mind, this first chapter defines what a brand is. We consider the functionsof a brand from the perspective of both consumers and firms and discuss why brands areimportant to both. We look at what can and cannot be branded and identify some strong brands.The chapter concludes with an introduction to the concept of brand equity and the strategic
brand management process. Brand Focus 1.0 at the end of the chapter traces some of the historical
origins of branding.
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