Strategic Brand Management

Kapferer's innovative theories on brand equity and development expand the boundaries of marketing theory. He hypothesizes that ``the primary capital of many businesses is their brands,'' which ``identify, guarantee, structure, and stabilize supply.'' In a global marketplace, he notes, brands are the only truly international language, ``the real capital of business.'' Kapferer, a French management professor, crafts elaborate theories and practical ideas regarding brand awareness, global branding, multibrands and brand territories. While his coverage of generics is paltry, his extensive analyses of branding strategies and his case studies (GE, Black & Decker, Proctor & Gamble) are extraordinary, as are his procedures on calculating the value of a brand. Kapferer's candid observations about brand extension, demarcation and management (``brand portfolios must be drastically reduced . . . brand management should not seek to be democratic'') should trigger debate in management circles and academia. (Apr.)