Brand management is a marketing technique which focuses on improving the reputation of a brand or product. Essentially, a brand is the image and personality of a product or service that a firm provides. It is what consumers think of when they hear or see the brand name.
Good brand management can improve brand loyalty, which keeps customers coming back to buy the brand. This in turn can be beneficial for a company, allowing it to increase the price of its goods and make more profit.
According to businessdictionary.com, brand management is:
“The process of maintaining, improving, and upholding a brand so that the name is associated with positive results.”
Brand management covers many areas of a business’ activities and interests.
Enhancing the value of the brand
In brand management, companies develop strategies that help increase the value of the brand. This requires management of intangible elements, as well as tangible elements of the brand.
Intangible elements of a brand include the experience of a brand and how it is perceived. The tangible elements of brand management include the packaging of a product, its design (appearance), and the price.
Good brand management oversees both these elements. It also requires:
- Extensive knowledge of the brand’s target audience.
- Understanding consumer behavior and how the brand is perceived.
- Understanding the brand’s competition.
- Providing consistent brand ideas.
- Developing and maintaining a good relationship with the target audience.
An example of a brand which has complete market domination is Google. This is evident when you hear someone say “I’ll Google that term for you.” People are using the brand name instead of the word “search” – one of the main services that Google provides.
The Brand Manager
Brand Managers concentrated on creating a lasting impression among customers and gaining greater product sales and market share.
Their job is to make sure that the integrity and appearance of the brand they work for is the best it can possibly be.
The brand manager will be involved in a variety of activities, from research all the way up to design.
According to totaljobs.com, a brand manager’s duties also include:
– Monitoring market trends
– Meeting with clients and several different departments
– Carrying out consumer research
– Preparing and presenting reports to senior management and clients
– Organizing events, launch parties and photo shoots
Video – Being an Assistant Brand Manager at P&G