IDENTITY-ORIENTED APPROACH OF BRAND DEVELOPMENT
The naming process is an integral part of brand development. The following are the basic understanding of the main theoretical models:
According to Economists Meffert and Burmann, the previous brand management practice is no longer sufficient for a reasonable understanding of the complex nature of a brand and its determinants because of their respective one-dimensional orientation on supply or demand side. The dominant market-oriented perspective must be holistic to an inward perspective supplemented by relevant resources and competencies. This requirement is the identity-based brand management with the aim of cross-functional integration of all decisions and measures for the development and management of a strong brand or a brand name or company name meets.
The basis for this identity orientation and the consequent integration of market-orientation and resources are derived from the theories of strategic management research, market-based view (MBV) and the resource-based view (RBV). The general view of the MBV is that a sustainable business is determined on one hand by market structure and on the other hand by company’s strategic behavior in the markets. Criticized within the MBV is the view of the company as a black box- using internal resources such as staff training to create competitive advantages is not be considered. RBV was formulated as a counter-concept to market-oriented perspective; it focuses on company-specific resources as a critical foundation for sustainable success. However there are no external factors such as economic aspects in the center of attention.
The approach of the identity-based brand management as the basis of brand name development is the combination of the theories of the MBV and RBV. The holistic view of the mutual influence of market orientation (outside-in perspective) and the organization’s resources (inside-out perspective) is at the center of all considerations.
The identity-based brand management approach as the basis of brand name development is the combination of MBV and RBV theories Where the holistic view of the mutual influence of market orientation (outside-in perspective) and the organization’s resources (inside-out perspective) is at the center of all considerations.