BU470 Chapter Notes - Chapter 6: Brand Equity, User Innovation, Brand Management
Document Summary
Chapter 6 building and maintaining a brands position. The challenge of stability and change: the mindshare approach commits one to stability, under this approach, brand equity is a function of consistency, and ensuring that brand considerations are engineered into every aspect of the firm"s activities. Brand hijacking refers to the process whereby a market actor uses the brand in unintended or unplanned ways. Parts of it may have to be dropped ( unrealized strategy ): unforeseen opportunities may emerge over time that force change or offer opportunities for brand innovation. These can include cultural schisms, but may also involve brand hijacking, doppelg nger images, user innovation, influencers, and pop culture: managing a top-down brand position (mindshare) with bottom-up change is the equivalent of realized strategy or realized brand position. In this instance, that the brand had the right to operate within the community is unquestioned.
