Hostile environm ents are changing the nature of brands, yet there are no up-to-date studies which, by characterizing brands, enable managers to formulate m ore appropriate brand strategies. To shed light on this, indepth interviews were conducted with 20 leading-edge brand consultants. They saw a gap between their view of brands as com plex entities linking m anufacturers' activities with consumers' perceptions and m anagers' short-term internal objectives and lack of consum er orientation. Experts also believe that, for consumers, brands act as shorthand devices for inform ation and trust, facilitating purchase decision.