The economic approach

Fast-moving consumer goods manufacturer Procter & Gamble gave birth to the first management practices of brand management with their product management approach. The theories underlining the way this multinational producer of fastmoving consumer goods during the 1930s dealt with brand management were mainly borrowed from neoclassical economics and classical marketing theory. The fast-moving consumer goods industry has since played a major role in the evolution of brand management research and practice, and the ideas are reflected in the economic approach.