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The majority of the world's business people consider marketing management the most dynamic of the business management professions. One of the main reasons for this is to be found in the wide variety of meanings accorded to the brand over the years, and the central role played by the brand among business people on the one hand, and the consumers on the other. For many years the business world perceived the brand as a product of the marketing organization's business activity, and consequently underestimated its value and economic capabilities. However, this perception underwent a change at the end of the 20th century when people began acknowledging the brand as the marketing company's primary asset. From being simply a product the brand became a negotiable strategic tool and is in fact the main incentive for mergers and acquisitions - a phenomenon that gradually became ubiquitous on the global business scene. Furthermore, the business world began putting the brand to a variety of uses to further promote the status of the company marketing it. These were manifested by image marketing measures aimed at forming and reinforcing the corporate image of business organizations.
About the author
Ram Herstein is Professor of Marketing, College of Law & Business. His research area is brand management, place branding, international branding, and corporate identity. Ron Berger is Doctor of Marketing, College of Law & Business. His research area is emerging markets and international branding.
