In consumer marketing, brands often provide the primary points of differentiation between competitive offerings, and as such they can be critical to the success of companies. Wood assumes that brands should be managed as valuable, long-term corporate assets. She proposes that for a true brand asset mindset to be achieved, the relationship between brand loyalty and brand value needs to be recognized within the management accounting system. She also suggests that strategic brand management is achieved by having a multi-disciplinary focus, which is facilitated by a common vocabulary. She seeks to establish the relationships between the constructs and concepts of branding, and to provide a framework and vocabulary that aids effective communication between the functions of accounting and marketing. Performance measures for brand management are also considered, and a model for the management of brand equity is provided.