STRATEGIC FACTORS OF BRAND EQUITY

Abstract

The search for a universal formula for brand equity management, especially in conditions which lead the company towards choosing a strategy to compete in the international market can be summed up in one sentence – per aspera, ad astra (through the thorns, to the stars). The main subject of this paper is the analysis of the models that synthesize the key factors that define the successful expansion of the brand into new markets. There is no doubt that it is quite difficult to synthesize a model which would be suitable for any company, because companies are too different, even within the same industry, and even more in different sectors and in different markets. However, the analysis of the contemporary scientific thought in the field of strategic management of brand equity synthesizes ten so-called strategic factors that determine the relationships with the brand equity. The aim of the research is to determine the extent to which companies implement the ten strategic factors of brand equity and then to assess the benefits of the application of the model. The research results confirm that in order to maximize the positive effect of these factors, the support from top management is crucial (where from the implementation needs to start) and, also, to nurture the approach of continuous improvement.