Mapping Critical Factors in Brand Management Contributing to Innovation

2012

The purpose of this paper is to analyse how branding contributes to innovation, by identifying different ways of connecting with changing markets and emerging consumer needs. This is clarified by strategic approaches found in the marketing management literature. While orientation to customer needs has always been crucial in marketing communication more attention is paid nowadays to customer and market intelligence in detecting relevant trends. A focus on the company’s own distinctive vision is advocated, as the choices to be made need to fit the strengths and capabilities of the company. Co-creation of value needs an intensive dialogue with customers about the brand as community property. I…