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Brands are one of the company’s most valuable assets. Brands benefit customers by creating value that goes beyond the product and service aspects of the offering. By bolstering customer demand, brands enable the company to capture greater value from its customers while at the same time strengthening the impact of the other marketing tactics, ensuring greater collaborator support, and facilitating the hiring and retaining of skilled employees. The key aspects of creating and managing brands are the focus of this note. The discussion of brand management is complemented by an in-depth overview of two additional topics: the role of brands as a means of self-expression and luxury branding. This note is an excerpt (Chapter 11) from Strategic Marketing Management: Theory and Practice by Alexander Chernev (Cerebellum Press, 2019).
Brands are one of the company’s most valuable assets. Brands benefit customers by creating value that goes beyond the product and service aspects of the offering. By bolstering customer demand, brands enable the company to capture greater value from its customers while at the same time strengthen...
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