12. Contemporary Issues in Brand Management

The business environment is changing, and likewise, consumer behaviours are changing. Brands are becoming aware of the consumers’ power to shape the brand through engagement. It has, therefore, become critical for brands to be aware of the contemporary issues around brand management, especially the prospects of social media, sustainable consumption and ethical practices. To manage these issues, there is a growing demand for a Chief Brand Officer (CBO), someone with the overall responsibility of managing the brand, someone who oversees the ethical collection of data about their customer base and prospective customers, a crisis manager who understands the implications of online brand mentions and many other metrics, someone who can take responsibility and think on the spot. In this chapter we discuss how these contemporary issues can be relative, depending on the brand, the market, the customer base and even the country; however, to streamline our discussion, we have identified key stakeholders and the various relationships which shape these issues.