Brand Management

What Is Brand Management?

Brand management is a function of marketing that uses techniques to increase the perceived value of a product line or brand over time. Effective brand management enables the price of products to go up and builds loyal customers through positive brand associations and images or a strong awareness of the brand.

Developing a strategic plan to maintain brand equity or gain brand value requires a comprehensive understanding of the brand, its target market, and the company's 
overall vision.

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Brand management is the process of identifying the core value of a particular brand and reflecting the core value among the targeted customers. In modern terms, brand could be corporate, product, service, or person. Brand management build brand credibility and credible brands only can build brand loyalty, bounce back from circumstantial crisis, and can benefit from price-sensitive customers.

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How Brand Management Works

Brands have a powerful influence on customer engagement, competition in the markets, and the management of a company. A strong brand presence in the market differentiates a company’s products from its competitors and creates brand affinity for a company’s products or services.

                                                           

A brand that has been established has to continually maintain its brand image through brand management. Effective brand management increases brand awareness, measures and manages brand equity, drives initiatives that support a consistent brand message, identifies and accommodates new brand products, effectively positions the brand in the market, etc.

Brand management 

Examples of Brand Management

Seeing a gecko reminds one of Geico Insurance which uses the reptile in most of its advertising campaigns. Similarly, the Coca-Cola jingle "It’s the Real Thing," which first aired in 1971 as a TV commercial that featured people of different races and cultures, is still branded on the vocal cords of Coca-Cola consumers.

A brand does not only need to be tied to one product. One brand could cover different products or services. Ford, for example, has multiple auto models under the Ford brand. Likewise, a brand name can take on multiple brands under its umbrella.

For example, Procter & Gamble has multiple brands under its brand name, such as Ariel laundry detergent, Charmin tissue, Bounty paper towels, Dawn dishwashing liquid, and Crest toothpaste.

Benefits of a Brand Manager

A brand manager is tasked with managing the tangible and intangible properties of a brand. The tangible aspects of a company’s brand include the product(s), price, packaging, logo, associated colors, and lettering format.