Building Equity

Locander, William B.; Luechauer, David L.
May 2005
Marketing Management;May/Jun2005, Vol. 14 Issue 3, p45
This article stresses the need for marketing executives to build leadership brand equity at a personal level. In a 2000 issue of the International Journal of Market Research, Rory Morgan suggests that brand equity has both functional and emotional components. Although product or service functionality is necessary to have a brand, it is the emotional component that adds equity. The emotional aspect creates differentiations like authority, identification and approval. Authority relates to a brand's heritage, the trust it instills, and the degree of innovativeness it displays. Identification refers to the alignment of a consumer's personal values with those of the brand. Approval relates to a brand's ability to meet the social needs of a consumer. Although these concepts apply to goods and services, they also pertain to the work of leaders and leadership. In this regard, there are functions of leadership that cannot be escaped, such as providing direction, developing a system of communication and creating a strategy. We might call those elements the science of leadership. Thus a leader builds his or her brand by enhancing the functions of leadership and builds equity by enhancing the more emotional, artistic, or ethereal aspects of his or her leadership style.


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