Table of Contents

Handbook on Brand and Experience Management

Handbook on Brand and Experience Management

Elgar original reference

Edited by Bernd H. Schmitt and David L. Rogers

This important Handbook explores new and emerging directions in both brand management research and practice. It encompasses a diverse set of approaches including the latest academic research offering new frameworks for understanding brand management, the researcher’s perspective on current tools in practice by brand managers, new research and conceptual frameworks for understanding and managing customer experiences and recent empirical research and scale development in both brand and experience management. The book focuses on practical, managerial, and organizational best practices.

Chapter 2: Brand Permission: A Conceptual and Managerial Framework

Tom Meyvis and Ravi Dhar

Subjects: business and management, marketing

Extract

Tom Meyvis and Ravi Dhar It is by now widely accepted by managers and academics alike that brand names can be highly valuable assets. Just how valuable is demonstrated by Ford’s willingness to pay over $1.4 billion to purchase Jaguar’s intangible assets. Aside from being defined in such financial terms, brand equity can also be examined from a consumer perspective, as the effect of brand knowledge on consumers’ response to a marketing action by that brand (Keller, 1993). For instance, although Toyota Corolla and GM’s Prizm are based on identical platforms and sold at almost identical prices, Toyota Corolla was in substantially higher demand, resulting in an annual revenue premium of close to $500 million (Srinivasan, 2006). Companies do not just value brand names because they can produce more favorable consumer reactions to their existing products and marketing strategies, but also because they have the potential to add value to new products and novel marketing actions. However, there may be limits to customers’ willingness to accept a familiar brand name in new roles and situations. Consider for example how consumers would react to an announcement that the Altria group (marketers of Marlboro cigarettes) plans to leverage its insights into people’s health and open Marlboro-branded research and treatment centers that specialize in lung cancer. Alternatively, consider the decision of a major technology company to market its existing products to line-of-business executives rather than to IT managers, based on research findings that choices about technology products are increasingly being made...

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