Brand risk management theory

Abstract

This chapter introduces a number of approaches to quantifying and communicating the nature of brand risks through, for example, the use of models and risk maps. Furthermore, it discusses a number of generic brand defence strategies that can be employed. This chapter then provides a description of typical brand risk management tools that are available commercially. However, while such tools and strategies are available, they are far from achieving ubiquity among brand owners. To understand why, this chapter presents the results of interviews with six brand owners from companies and organisations that range from small, specialist manufacturers to large multinationals. These interviews explore their perceptions of the scale of the brand risks they face, their typical methods for identifying brand risks and then their approaches to remedying any risks that have been identified. In all cases, there were no systematic methods of brand risk identification in place. Furthermore, the management strategies that were in place were often confused or weak. These interviews indicate the need for an effective brand risk management process which is straightforward to implement and maintain.