<P> One of the challenges in managing brands is the many changes that occur in the marketing environment . The marketing environment evolves and changes, often in very significant ways . Shifts in consumer behavior, competitive strategies, government regulations, and other aspects of the marketing environment can profoundly affect the fortunes of a brand . Besides these external forces, the firm itself may engage in a variety of activities and changes in strategic focus or direction that may necessitate adjustments in the way that its brands are being marketed . Consequently, effective brand management requires proactive strategies designed to at least maintain - if not actually enhance - brand equity in the face of these different forces . </P> <P> As a company's major enduring asset, a brand needs to be carefully managed so its value does not depreciate . Marketers can reinforce brand equity by consistently conveying the brand's meaning in terms of </P> <P> (1) what product it represents, what core benefits it supplies, and what needs it satisfies </P> <P> (2) how the brand makes product superior and which strong, favorable, and unique brand associations should exist in consumers' minds . </P>

Describe the concepts of brand personality and brand equity