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The aims of this study are to determine which variables are common as brand   management practices, how these variables affect a company’s business   performance, and whether there are statistically significant differences   between companies in the sample in terms of individual elements of the Brand   Management Practice (BMP) model. The research took place in Serbia, and   comprised 118 managers and specialists involved in marketing and brand   management. After validating the proposed BMP model, we found a link between   certain variables of the model and companies’ business performance. There are   statistically significant differences between companies in terms of   individual elements of brand management practice, and we identify three   clusters: brand-guided companies, emerging brand companies, and   brand-agnostic companies. They differ from each other in terms of:   brand-oriented approach, innovativeness, brand support activities, unique   marketing offers, marketing channel relationships, brand performance   measurement, brand barriers, company size, and specific business area of a   key-brand. They also differ according to estimated and actual business and   financial performance. The results are valuable for explaining the main   drivers of good brand management practice and their effects on business   performance in different industry sectors. The implications for managers of   domestic companies are also discussed

Improving business performance through brand management practice