The actual rapid changes in the environment require certain changes in business activities that include the adjustment of business philosophy and orientation of enterprise, as well as changes of business portfolio, organizational structure, and approach to management. An enterprise has to adapt its business activities to the needs and requirements of environment, which has become the imperative of its existence, growth, and development. Some radical (transformational) turns, which require changes in the basic company's values, are also necessary. A rational reaction contributes to keeping the basics of competitive advantage and creating sources for achieving a new one. Market has become global and regional and other integrations have contributed to developing markets with labile borders. Technology development enables linkages on undreamed-of scale. Creating markets without borders, mass accommodation to the needs of strategically important customers, developing and managing relationships, focus on delivering superior values and networking organizations have become the key factors of business success. These are also the factors of changes in business environment, which requires adapting the strategic reactions of enterprises.
Managing an enterprise in global economy based on knowledge has become more complex and requires re-examination of business models and all management segments. One of the segments is brand management. The fact that nothing in a market is definitely acquired, since the competition is intensive and the customers are demanding, increases the role of brand and its analysis in marketing theory and practice. The brand is an intangible asset of an enterprise with a great value. Maintaining and increasing capital derived from the assets requires an adequate management reaction of enterprise, which is essentially different in comparison to the brand management at the end of last century. Certainly, successful enterprises attempt to make their brands more known, which creates the basis for their growth and development. Recently, the ways the companies reacted in the 1980s, as a challenge to globalization, have had to be re-examined.
Changes in environment caused by globalization, more intensive competition, changes in customer behavior, etc. impose some new requirements for management in the sense of its adequate strategic reaction. This is the challenge for all enterprises, disregarding the level of globalization. Certainly, the way of strategic brand management in concrete enterprise, in addition to everything else, will depend on structure, value, and position of brand in chosen target markets (global, regional, local; strong, weak; corporate, familiar, individual, etc.). Each category requires certain approach to management. However, the common thing for all companies, other organizations and institutions is that the strategic brand management is more efficient when it uses the balanced approach including optimization of brand management and customer relationships, since the power of brand is more caused by customer loyalty and value of his living.
