Difference between revisions of "Brand Management"
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| − | + | '''Brand Management''' is the process of maintaining, improving, and upholding a brand so that the name is associated with positive results. It involves a number of important aspects such as cost, customer satisfaction, in-store presentation, and competition. Brand management is built on a marketing foundation, but focuses directly on the brand and how that brand can remain favorable to customers. Proper brand management can result in higher sales of not only one product, but on other products associated with that brand. For example, if a customer loves Pillsbury biscuits and trusts the brand, he or she is more likely to try other products offered by the company such as chocolate chip cookies.<ref>[http://www.businessdictionary.com/definition/brand-management.html Brand Management Definition -Business Dictionary]</ref> | |
| − | Brand management begins with having a thorough knowledge of the term “brand”. It includes developing a promise, making that promise and maintaining it. It means defining the brand, | + | Brand management begins with having a thorough knowledge of the term “brand”. It includes developing a promise, making that promise, and maintaining it. It means defining the brand, positioning the brand, and delivering the brand. Brand management is nothing but the art of creating and sustaining the brand. Branding makes customers committed to your business. A strong brand differentiates your products from competitors. It gives a quality image to your business. Brand management includes managing the tangible and intangible characteristics of the brand. In the case of product brands, the tangibles include the product itself, price, packaging, etc. While in the case of service brands, the tangibles include the customers’ experience. The intangibles include emotional connections with the product/service. Branding is assembling of various marketing mix mediums into a whole so as to give you an identity. It is nothing but capturing your customer's minds with your brand name. It gives an image of an experienced, huge and reliable business.<ref>[http://www.managementstudyguide.com/brand-management.htm Brand Management - Meaning and Important Concepts -Management Study Guide]</ref> |
===See Also=== | ===See Also=== | ||
| − | [[ | + | *[[Business Value]] |
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===Further Reading=== | ===Further Reading=== | ||
| − | * | + | *[http://www.revenew.com/blog/the-importance-of-brand-management The Importance of Brand Management -revenew.com] |
| − | * | + | *[https://www.wetfeet.com/articles/career-overview-brand-management Career Overview-Brand Management -wetfeet.com] |
| − | * | + | *[http://www.tronviggroup.com/the-difference-between-marketing-and-branding/ The Difference Between Marketing and Branding -Tronvig Group] |
| − | * | + | *[https://www.youtube.com/watch?v=QPs6uwd4Q2U What Is Brand Management? -Strategic Brand Management] |
| − | * | + | *[http://www.inc.com/guides/2010/08/how-to-manage-your-companys-brand.html How to Manage your Company's Brand? -inc.com] |
Latest revision as of 16:01, 8 January 2023
Brand Management is the process of maintaining, improving, and upholding a brand so that the name is associated with positive results. It involves a number of important aspects such as cost, customer satisfaction, in-store presentation, and competition. Brand management is built on a marketing foundation, but focuses directly on the brand and how that brand can remain favorable to customers. Proper brand management can result in higher sales of not only one product, but on other products associated with that brand. For example, if a customer loves Pillsbury biscuits and trusts the brand, he or she is more likely to try other products offered by the company such as chocolate chip cookies.[1]
Brand management begins with having a thorough knowledge of the term “brand”. It includes developing a promise, making that promise, and maintaining it. It means defining the brand, positioning the brand, and delivering the brand. Brand management is nothing but the art of creating and sustaining the brand. Branding makes customers committed to your business. A strong brand differentiates your products from competitors. It gives a quality image to your business. Brand management includes managing the tangible and intangible characteristics of the brand. In the case of product brands, the tangibles include the product itself, price, packaging, etc. While in the case of service brands, the tangibles include the customers’ experience. The intangibles include emotional connections with the product/service. Branding is assembling of various marketing mix mediums into a whole so as to give you an identity. It is nothing but capturing your customer's minds with your brand name. It gives an image of an experienced, huge and reliable business.[2]
See Also
References