Abstract
This research aims to clarify the nature of the links between brand portfolio management, competences and competitive advantage. In a series of interviews within four different cosmetics companies, the author explores their approach to managing the brands they own. This work shows that brand portfolio management is enmeshed in an ensemble of competences acquired over time which are part of the companies’ history. The reality that emerges is that a brand portfolio strategy once truly established in an organisation, makes replication by a competitor very difficult due to the in determinability of the causes and effects, and also because it takes a long period of time to build the relevant competencies.
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