Brand Space

In: Business and Management

Submitted By ghoro7
Words 1557
Pages 7
The Concept of Brand Space

Introduction Brand management faces an inconsistent challenge for executives who must wrestle a course between constancy and change; fostering the brand as it develops over time, and maintaining its up-date and carrying on its relevance, but safeguarding its core connotations. If branding is regarded as sharing significance of the intangible benefit of the company, brand managers therefore must select development opportunities to improve brand equity whereas expanding its meanings while preserving its ‘semiotic, cultural, and representative value’. Brand extensions answer this duty. Success of brand extensions was broadly attributed to the authenticity between the parent brand and the extension, authenticity that should maintain brand sets and mode, respect its heritage, save its spirit, and avoid brand misuse (Spiggle et al, 2012). In addition, because business environment is in perpetual change and converted into more global, local and even regional brands should face same evolution, thereof, the approach in managing brands should be more holistic, and the future of brands management should move toward a multidimensional view (Uggla, 2013). The failure in brands extension, the global environmental change, and the increasing markets competition and transformation were the main reasons that drive Berthon, Holbrocok, and Hulbert (2003) to expose some major mistakes committed by companies in managing their brands, and to develop a framework that shift brand managers from customer-centric outlook to a more holistic perception; the brand space, which could be valuable in approaching the contemporary trend of branding.
Managers brand mistakes One of the major mistake committed by brands managers and considered as harmful attitude is brands extensions approach. Berthon, Holbrocok, and Hulbert (2003, p.49) believe that…...

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