The Changing Landscape of Brands in the Digital Age. Opportunities and Challenges

Seminar paper from the year 2019 in the subject Communications - Public Relations, Advertising, Marketing, Social Media, grade: A-, University College Dublin, language: English, abstract: 'Brands are machines for delivering high quality earnings at high margins' is a claim made by Tim Broadbent in Advertising Works 2000. Strong and well-promoted company labels are visible across the world, influencing consumers and triggering purchasing decisions. Thus, companies and organizations intent to develop positive-perceived brand images to increase their recognition and consequently their revenues and profits. Nevertheless, Tim Broadbent's statement neglects disadvantageous brand characteristics and negative features, which cause opposite effects, such as loss in revenue or negative brand recognition. In addition, the statement made in the year 2000 is no longer up-to-date. Disruptive Megatrends, inter alia Digitalization, are shaping the overall business environment and thus changing the opportunities and challenges of brands across industries. Social Media and other forms of 'instant-communication' increase the vulnerability of brands, while automation technologies will possibly impact the brand perception of consumers within a shorter time.