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Digitalization of markets, media channels, and consumers' decision making challenges brand management. A key question is whether the traditional strategic understanding of branding is relevant in the digital age. In this chapter, three challenges are discussed: digital consumer journeys, big data, and online brands. These challenges influence branding practices, but do not necessarily invalidate basic branding principles. On the contrary, branding will continue to be important in the future.
Digitalization affects branding practices in many ways. Changes in technologies, market demands, and communication channels provide both opportunities and problems for brand managers. The basic question that is approached in this chapter is whether brands and branding are still relevant in the digital age. This is a rather large question and could be approached in many ways. Essentially, it must be answered by identifying some of the major branding challenges in today's shifting landscape.
Digital Consumer : Brand practitioners argue that digitalization has changed consumer behavior. Is that right? And if so, what are the consequences for how brands are built, developed, and managed?
Big Data : New communication channels, technologies, and analytic tools have provided brand managers with enormous amounts of data (big data). How will access to these data affect the balance of short-term optimization of branding activities and the long-term strategic orientation of brand management? Could access to big data actually lead to wrong brand management decisions?
Online Brands : Consumers are onlineโfor information search, entertainment, status-seeking behavior, and more. Brands must adapt their practices and participate online on consumers' premises. These changes in branding practice can have both advantages and disadvantages for brand management, and can change the way brands are built.
