Brand, Identity and Reputation: Exploring, Creating New Realities ...

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Session 12.3 Special Session Topic: Issues in Brand Governance – What are the New Threats and Risks to Brand Value and Equity? Clive Helm, Westminster Business School, U.K. Richard Jones, Copenhagen Business School, Denmark A Competance based Brand: Meaning and Management Tayo Otubanjo, Pan African University, Nigeria Olusanmi Amujo, Nigerian Institute of Public Relations, Nigeria 290
Special Session Issues in Brand Governance: What are the New Threats and Risks to Brand Value and Equity? Chairs: Clive Helm a and Richard Jones b a 1. Department of Marketing and Business Strategy, Westminster Business School, University of Westminster, London, UK. E-mail: c.helm@wmin.ac.uk b 2. Department of Marketing, Copenhagen Business School, Copenhagen, Denmark. E-mail: rj.marktg@cbs.dk This proposed Special Session is based on issues raised in the Editorial of a recent Special Issue of the Journal of Brand Management (2010) 17, 545–547; which is presented and summarized below. 1. Introduction and Purpose It is now almost a cliché to say that for many organizations, brands are their most valuable assets, whether at the corporate or product level. Awareness of the value of brands has grown in recent decades, particularly throughout the 1980s mergers and acquisitions frenzy, which prompted some consumer goods companies to become alert to the equity held in their brands and begin valuing them on balance sheets, a trend that has been adopted more widely, accounting conventions permitting. As is often pointed out, a strong brand creates superior value and competitive advantage that is sustainable and, if well managed and nurtured, can be a long-term source of future value. Although other key resources may have finite lives – material assets and research and development will be amortised, key people may leave and proprietary technologies become commodities – a successful brand can be a long-term strategic asset. Of course, none of this is new. Although some sectors such as public and non-profit may still be moving up the learning curve, others, particularly the fast-moving consumer goods industry, have long been conscious of the importance of brands as key assets and the criticality to corporate wellbeing attached to managing them successfully. As a result, there is now a considerable body of practitioner expertise and academic theory that can be brought to bear in creating, building and valuing brand equity. However, what is new is a growing realisation that this equity held in brands, which forms an ever-increasing proportion of many companies‘ balance sheets, stock market worth and is a prime source of tomorrow's cashflow, increasingly needs to be safeguarded and secured against risk. 2. Key Issues The recent Special Issue of the Journal of Brand Management on Brand Governance is therefore timely. But why has awareness of the whole issue of Brand Governance grown in recent years? We suggest that there are six major, overarching reasons that present growing challenges and threats to brand equity for the future: 1. More uncertain and fiercely competitive industry environments: It is no secret that, over the past few decades, many industries have been characterised by over-capacity, dramatically rising market uncertainty and hypercompetition, a trend that continues. This is largely as a result of factors such as globalisation and new technologies that have lowered barriers to entry, as well as the ongoing deregulation and privatisation of some sectors such as airlines and telecommunications, which may have once enjoyed a degree of protection. In the last 30 years, for example, the global airline industry has generally shown such low or negative profitability that, in many other businesses, would be considered unsustainable (CAA, 2006). Some major legacy operators have failed, others have formed alliances, partnerships or merged in one way or another. As the status of their brands decline, firms in various industries have found out the hard way that, as Peter Drucker (2007) once famously put it, their prime purpose has now become ‗to create a customer‘ as many of the consumers they could depend on in less-competitive times have been tempted away elsewhere. In considering how they can compete in fiercely competitive and turbulent markets, some have begun to look to their brands as key to developing relationships with customers; as a result, there has been growing industry and academic attention paid to the quality of customer brand experience as a source of value. 2. Ever more empowered consumers: At the same time, consumers are becoming increasingly intolerant of any gap between what a brand promises and the experience it delivers when they actually encounter and engage with it. New distribution and communications channels, particularly the Internet, have given buyers, influencers and other stakeholders more information and choice of products and brand experiences than ever before. Consumers are also generally better informed, educated, sceptical, more self-directed and increasingly seeking value in the form of self-realisation from the brands that they feel are right for them. One threat to brand equity is that they are also generally less loyal; if dissatisfied with a brand experience, they can often switch and go elsewhere easily and at little or no cost – and there is much evidence to show that they do. These ‗postmodern‘ consumers of the experiential, digital, price-transparent economy are difficult to reach, let alone engage with, and capturing long-term value from them is getting harder. Unless brands consistently deliver what they promise, they will find these consumers‘ loyalty harder to achieve. 3. Line and brand extension proliferation: In a simpler age, a brand often represented a single product line in a single category. Today, a proliferation of line and brand extensions as firms exploit their brand assets means that many brands now act as an umbrella for an ever growing number of extensions and variants, often in 291
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Book of Proceedings Brand, Identity
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Session 1.1 Emotional Branding in T
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p.31) consumers tend to those sourc
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Tables and figures Brand perception
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Malaysia‘s Global Halal Hub - ―
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Birds of a Feather Consume Sports T
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Session 1.2 How is Social Media, li
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2. Interviews made with the adminis
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Table-5 Facebook Members of Homeles
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content (UGC) or even direct intera
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Fierman, (1991) found that 47% of c
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Multiple Dimensions of Brand Identi
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Session 1.3 Corporate Identity, Cor
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CSR are the ideals and ethics of co
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Corporate Brand Identity Management
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To study the influence of B2B relat
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Antecedents And Consequences Of Bra
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22. Gurviez, P., and Korchia, M. (2
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Non-monetary factors, such as effor
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23. Holbrook, M.B. (2006). Consumpt
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Brand Extensions and Culture: The I
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avoidance tend to prefer more infor
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Virtual Internal Brand Communities:
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References 1. Algesheimer, R., Dhol
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associations based on their percept
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shift in the psychological contract
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10. Berthon, P., Ewing, M., & Hah,
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Session 2.1 Global Brand Relationsh
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G. Brand Personality Excitement Hon
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The Impact of Relationship Marketin
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‗United 2010-one for all, all for
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Brand Equity Trends in Top Global B
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Uncovering ‗Meanings‘ through A
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45. Melewar, T.C. and Saunders, J.
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Thus, from a design perspective, we
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Keywords Brands, marketing, meaning
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How Important is the Brand Name Ele
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References 1. Aaker, D. (1991). Man
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Simon Cowell and Branding the X Fac
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Dead or Living: Which Celebrity To
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Reference 1. Bagozzi, R.P. & Yi, Y.
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has been adopted and within this an
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Organizational Factors Contributing
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examine and reconcile existing lite
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Effects of Corporate Social Respons
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15. Morsing M, & Schultz M. (2006).
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1989). But if the information avail
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An Inquiry into Corporate Heritage
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3. Balmer, J. M. T., & Greyser, S.
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Research questions and methodology
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Building Corporate Reputation: A Di
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Session 3.1 Financial vs. Consumer-
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For indicating brand equity, one of
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Financial Brand Valuation: an exper
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Figure 1 Religiously Motivated Cons
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I Don‘t Like It! - Understanding
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Session 3.2 Advertising Agency Empl
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applications of the Repertory Test
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The Life Cycle of Mavens Lynne Free
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Exploring the relationship between
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internal branding process. Internal
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proper branding strategy. With the
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Profiling the Image of Urban Busine
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Finally, the paper confirms the cau
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Table 3 Image differences according
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associated with the brand‖ (Aaker
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Figure 1 - Number of adjectives sel
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Figure 5 - Main attributes of a gol
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Empirical Studies For both studies,
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Figure 2: Perception of the City of
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Co-branding places? Andrea Lucarell
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12. Lucarelli, A., & Berg, P. O. (2
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the place brands, as has been showe
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Session 3.4 Innovation and Entrepre
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The interviews were conducted in th
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Country-of-Origin Effects on Brand
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7. Kaynak, E., Kucukemiroglu, O. &
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Results The demographic profile ind
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use games consoles (Childwise, 2001
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Plenary Session 2 Brand Performance
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Uncles, M.D. & Kwok, S. (2008). Gen
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Brand Management Framework Empirica
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Coneptualising Branding in Indian P
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characteristics could be zeroed upo
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Concentrating on the actual practic
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ooking attractive in greater detail
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Session 7.2 Brand Personification a
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Importance of Country Image to Mega
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Table 1: Evaluative Responses for t
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To be Similar or Unique? Implicatio
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Brown, T. J., Dacin, P. A., Pratt,
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A brand-driven strategy oriented to
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Rheingold, H. (1993). The Virtual C
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A Framework for Public Sector Brand
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Conclusion Public sector organisati
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A strategic investigation into the
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There are also some changes in term
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Brand Hypocrisy Sanne Frandsen, Cop
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Table 1: Empirical Findings Theory
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Brand Governance in Social Networki
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Determinants Brand Orientation Va
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When Individual Experience becomes
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Impact of Storytelling on Consumer
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The Role of Communication in Establ
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Culture‘s Influence on Consumer P
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+ Top-Down Dynamic between Luxury F
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Analysis and results We assessed th
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An Exploration of Own Brand Retaile
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11. ETI 2010. Ethical Trading Initi
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When investigating unique significa
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Session 8.2 Closing the Gaps - the
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accomplishing reality rather than d
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Reddy, 1998, p.40). As a result, br
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Figure 2: Doves Real Beauty Billboa
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Literature review, as a complete re
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Segmenting McDonalds: Measuring Bra
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A simple eyeballing of the segment
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Segment 2 Segment 3 Segment 4 235
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Session 8.3 Brand Attitudes and the
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Page 263 and 264: Introduction Reputation and Financi
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Page 269 and 270: Introduction Factors Affecting Bran
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Page 279 and 280: How do you Really Know? Exploring B
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Page 301: Ronaldo Schutz, University of the A
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