| Brands are among the most important of firm assets, serving as crucial sources of competitive advantage. The realization of such competitive advantage requires effective, robust, and flexible brand management practices that accommodate internal and external contingencies. My dissertation uses two essays to investigate how a selection of brand management practices influences brand performance and firm value. Essay 1 employs two studies to examine cross-category variation in the effect of marketing mix variables on brand sales and brand equity. Empirical evidence from analyzing Information Resources, Inc. scanner data (study 1) and consumer survey data (study 2) suggests that brand relevance in category (BRiC) -- a product category characteristic -- interacts with marketing mix decisions (e.g., product variety, distribution coverage) to affect brand sales and brand equity. The focus of Essay 2 is rebranding strategies that aim to update a firm's brand image by changing brand identity or brand strategy. Empirical evidence from analyzing 229 rebranding events shows that, on average, rebranding initiatives are associated with positive abnormal stock returns. More importantly, these financial returns can be predicted by the degree of rebranding and the fit between the degree of rebranding and competitive factors (firm competitive position and industry competition intensity). |
