As valuable assets of corporations, governments and not-for-profit organizations, brands have attracted considerable research attention. We know a lot about how brands create knowledge in their target consumers’ minds, which leads to an attitude towards or relationship with the brand that translates into a number of favorable outcomes. The resultant brand equity is often associated with improved performance of the organization in reaching its objectives such as increasing market value. We know less about the dynamic nature of brand equity and, in particular, how it may interact with turbulence in the external environment in which the brand competes, both positively and negatively. We examine three key dimensions of brand equity—brands’ access to their target markets, perceived differentiation, and level of brand engagement with their target consumers—that influence the effect environmental turbulence has on diminishing equity or providing future opportunities for brand equity growth. Borrowing from the strategy literature, we suggest ways in which agile and resilient firms can use brand equity to resist environmental turbulence, recover from any damage that may result from it, and reinvent themselves to leverage opportunities created by a radically altered external environment. We close with a set of propositions intended to guide managers in anticipating and responding to environmental turbulence and inform and shape future research in this area.

作为企业、政府和非营利组织的宝贵资产，品牌引起了广泛的研究关注。我们非常了解品牌如何在目标消费者的头脑中创造知识，从而导致对品牌的态度或与品牌的关系转化为许多有利的结果。由此产生的品牌资产通常与组织在实现其目标（例如增加市场价值）方面的绩效提高有关。我们对品牌资产的动态性质知之甚少，特别是它如何与品牌竞争的外部环境中的动荡相互作用，无论是正面的还是负面的。我们考察了品牌资产的三个关键维度——品牌进入其目标市场、感知差异化、以及品牌与目标消费者的互动程度——这会影响环境动荡对减少资产或为品牌资产增长提供未来机会的影响。借用战略文献，我们建议敏捷和有弹性的公司可以利用品牌资产来抵抗环境动荡，从可能造成的任何损害中恢复过来，并重塑自己以利用由根本改变的外部环境创造的机会。最后，我们提出了一系列建议，旨在指导管理者预测和应对环境动荡，并为该领域的未来研究提供信息和塑造。我们建议敏捷和有弹性的公司可以利用品牌资产来抵抗环境动荡，从可能造成的任何损害中恢复过来，并重塑自己以利用由彻底改变的外部环境创造的机会。最后，我们提出了一系列建议，旨在指导管理者预测和应对环境动荡，并为该领域的未来研究提供信息和塑造。我们建议敏捷和有弹性的公司可以利用品牌资产来抵抗环境动荡，从可能造成的任何损害中恢复过来，并重塑自己以利用由彻底改变的外部环境创造的机会。最后，我们提出了一系列建议，旨在指导管理者预测和应对环境动荡，并为该领域的未来研究提供信息和塑造。