In this chapter, we will address the following questions:
- What is a brand, and how does branding work?
- What is brand equity, and how is it built, measured, and managed?
- What are the important decisions in developing a branding strategy
- Why is it important for companies to grow the core of their business?
Strategic brand management combines the design and implementation of marketing activities and programs to build, measure, and manage brands to maximize their value. It has four main steps:
- identifying and establishing brand positioning,
- planning and implementing brand marketing,
- measuring and interpreting brand performance, and
- growing and sustaining brand value.
In this chapter, we discuss branding, brand equity, brand strategy, and growing the core business.