Brand risk scenarios development: theoretical insights

Abstract

The brand functioning in the markets characterized by uncertainty has become especially vulnerable asset of an organization. Brand vulnerability – is the premise for the formation of brand risk. In the context of the later trend organizations need the instrument of strategic planning adapted to proactive reaction to brand risk. On the level of organization’s strategic management scientists discuss the scenario development method, which helps foresee and get ready for future changes of external environment. According to the authors of the paper, the latter instrument of strategic planning could also be used for proactive reaction to brand risk. The aim of the paper is theoretically substantiate the suitability of the scenario development method for proactive reaction to brand risk. Referring to the analysis of scientific literature and the deduction method leads to the main research result - theoretical premises of the suitability of scenario development method for proactive re-action to brand risk formulation.