State of research on family businesses and the corporate brand: Current findings, future fields of research and approaches to strategic use

Research results show that companies should generally try to build up a strong brand, because various positive effects and advantages can be realized. This empirical evidence does not go far enough in the case of family businesses, because in addition to the construct of the business, the family and the property must also be taken into account, whereby the effects of the family on brand value, brand image, etc. are largely unexplored. In this context, questions remain unanswered as to how the brand of the family business can be used financially, capitalized and/or also used efficiently in the context of the succession process. In the context of this chapter, a literature review on the topic of corporate brand and family business is given and research fields are identified, which could be addressed in the context of further studies. In addition, recommendations are given for family businesses on how to strategically use their own corporate brand on a practical level.