In light of the rapid pace of change in the environment surrounding brands and the associated uncertainties, the central challenge of strategic brand management is to respond quickly and appropriately to shifting market conditions—while simultaneously preserving the brand’s identity and relevance. This apparent “squaring of the circle” requires a rethinking of modern brand management in order to steer brands in an agile yet consistent manner. However, this can only be achieved through the interplay of brand-defining models and iterative management processes, which can thus be seen as a response to the challenges of today’s markets and constant environmental change.