Brand management

Abstract

Brands have become a major symbol of economy and society as they have penetrated in all spheres of life. Since brands have become the centre of attention in the last decades the question of how to manage them properly in order to maximize its value has been in the sight of companies. Brand management has passed through different stages during time, receiving influences from different business schools of thought and borrowing knowledge and methodology from other sciences. This process has stated the complexity of brand management by providing a big spectrum of different perspectives through which the topic can be studied: microeconomics, macroeconomics, philosophy, sociology, phycology, anthropology, etc. This paper aims to summarize the most important academic contributions in the field of brand management and to analyse how today’s technologies have impacted the way brands should be managed. Furthermore, a review of the regulation regarding brands in Spain will be introduced to enclose the area where brand managers can perform their task. By reading this paper the lector should get an insight of the strengths and weaknesses of the diverse theoretic approaches of brand management and get a global understanding that allows building customized brand strategies to overcome challenges and exploit possibilities that a brand could face at any time.