Brand Management
Brand management involves creating, maintaining, and enhancing the perception of a brand in the minds of consumers. It encompasses strategies for brand positioning, brand identity, and brand communication to build strong brand equity. Effective brand management aims to establish a unique and favorable brand image that resonates with the target audience, ultimately driving customer loyalty and competitive advantage.
7 Key excerpts on "Brand Management"
eBook - ePubCompetitive Strategy for Media Firms
Strategic and Brand Management in Changing Media Markets
- Sylvia M. Chan-Olmsted(Author)
- 2006(Publication Date)
- Routledge(Publisher)
...Brand Management also involves various marketing activities in a larger context. In fact, the traditional marketing mix of product, price, distribution, and promotion shapes the equity potential of a brand. Thus, marketing programs can be designed to build the desirable brand image. For example, product strategies directly impact brand identity development and the consumption experience, which also shape a brand's image. Pricing and channel strategies again influence consumers’ perception of a brand's quality and the associated status. Finally, marketing communications programs that utilize advertising, public relations, sales promotion, personal selling, and/or event sponsorship to communicate with target consumers provide the key to leverage both primary and secondary associations for a brand. In essence, Brand Management programs involve organizing, planning, monitoring, and evaluating the tangible and intangible aspects of a brand. Specifically, brand managers create and communicate to the target consumers about a brand, direct and structure the brand, manage the brand organization, audit the strength of the brand, develop relationships with customers, configure brand portfolios and hierarchy, assess the financial value of the brand, and leverage the equity of established brands through brand extensions. Unfortunately, in many media industries, Brand Management often materializes as tactical sales promotional programs. Chan-Olmsted and Y. Kim (2002) found that most broadcast television managers considered branding a promotional, tactical function (promoting a station and/or its news), rather than a strategic managerial process or asset management. The reason that media Brand Management is simplified as a tangible identity-building tactic may be attributed to the fact that the concept of media as brands was first introduced only in 1993 (Bender, 1993)...
eBook - ePubThe New Strategic Brand Management
Advanced Insights and Strategic Thinking
- Jean-Noël Kapferer(Author)
- 2012(Publication Date)
- Kogan Page(Publisher)
...06 The new Brand Management Since the 1990s companies have been aware that brands are an asset, and that consequently they should always be reinforced and nurtured by tangible innovations and intangible added values. The 10 key principles of strategic Brand Management are known: Capitalize on very few strategic brands, which all convey a big idea, a vision, and are driven by the desire to change the customer’s life. No brand should be without a strong intangible component. Nest all variants and sub-brands under these mega-brands, to nurture them. Act as a leader and be passionate about increasing the standards of the category. Sustain the brands by a constant flow of innovations (product, service, etc) in line with their positioning. Create direct ties with your end customers to deepen the link and the attachment, especially in markets where the trade pushes its trade brands. In fact the main competitor of many a so-called strong brand is now the trade brand. Deliver personalized services. Reward customers’ involvement to make them become active promoters of your brand, not simply loyalists. Word of mouth is indeed the real sign of success: customers become active ambassadors because they feel passionate about the brand – as a result of what it did to them and the community of values. Reichheld (2006) has shown that the rate of promoters among the customer base is directly correlated to the growth rate of the company or the brand. Encourage communities that share your values, on the internet or elsewhere. Quickly globalize the brand and its products. Be responsible: big is not beautiful any more, and consumers have become cynical about size...
eBook - ePubThe Marketing Century
How Marketing Drives Business and Shapes Society
- Jeremy Kourdi, Jeremy Kourdi(Authors)
- 2011(Publication Date)
- Wiley(Publisher)
...One of his management team had brought in a good brand consultant who worked with the executive team to establish brand values and positioning. He was genuinely surprised at the difference this new, professional focus on branding made and then used all the business levers to ensure that the branding was properly integrated within the organisation. This is how branding is able to generate the most value. For others in an organisation, it is easy to get the impression that marketing and media professionals care more about debating the perfect ‘right’ answer to the value and measurement of brands than working out how that brand connects with broader management priorities, such as financial issues. To address this and persuade the rest of the organisation to take Brand Management seriously, it is useful for marketing professionals to speak the business language used in other departments. It is apparent to me, for example, that using the accounting language of brand valuation helps to get boards of directors to take the brand seriously. Moreover, the methodology and application of brand valuation have improved so much that it deserves to be used routinely to influence the way in which clients and internal stakeholders make investment decisions and choose operational priorities. As technology has speeded up the business environment, a clear understanding of the brand can provide a great mechanism for holding the brand on course while allowing it to pursue the fullest opportunities of an age where everything is in ‘beta’. Nevertheless, although Brand Management has greatly improved, there is still room for improvement. So what can organisations do to maximise the value of branding? Succeeding with brand positioning and managing brands Fundamentally, organisations need to align their brand with all aspects of their operations, stretching across products and services, human resources practices and corporate behaviour, environments and communications...
eBook - ePubStrategic Fashion Management
Concepts, Models and Strategies for Competitive Advantage
- Ranjit Thind(Author)
- 2017(Publication Date)
- Routledge(Publisher)
...5 Brand Management Leveraging the fundamentals Chapter goals This chapter analyses the key characteristics that define successful brands and how, under the lens of consumer-orientated marketing, firms can create a marketing strategy that delivers prolonged value. The key areas covered are: • Brand purpose • Consumer-orientated marketing • Marketing strategy formulation Brand purpose Success needs coherence of the brand. (John Galliano, fashion designer). 1 The fashion industry is potent because most people think of it as pretentious clothes, glamorous parties, self-centred designers, superficial media and glossy marketing. This is partly true, but there is another side to the industry that drives a more balanced and grounded approach. This is the strategic side of managing a brand. Traditionally, fashion Brand Management focused on product design and the aesthetic content because of the ever-shortening life cycle of products. However, as strong brands endure, the locus of attention has moved to managing the brand strategically. Successful brand strategists are those who create products and services that render positive associations, evaluations, recommendations and repeat purchases with the consumer. This is an ecosystem that only the best Brand Management executives can formulate and execute. This lends itself to brands being the reason why firms exist and not the other way around. Nike is a good example of this and has shifted away from being traditionally known for cool footwear and apparel to now becoming a world-class health and fitness brand, and can even be categorised as a firm striving to create shared value...
eBook - ePubGlobal Brand Management
A Guide to Developing, Building & Managing an International Brand
- Laurence Minsky, Ilan Geva(Authors)
- 2019(Publication Date)
- Kogan Page(Publisher)
...The brand is dead. Why the brand is important to marketers In many ways, we have already shown the strategic importance of brands in the first chapter when we mentioned that it relieves the perceived risk of purchase. On a deeper level, for the marketer, strong brands have enabled them to charge more – think of it as a premium for the consumer on the purchase insurance. It enables them to bounce back quicker and easier should a crisis occur (providing the brand responds appropriately – think of the classic Tylenol tampering crisis of 1982, still studied in PR courses), protect against new brands from entering the field, improve internal cohesion, fuel consumer engagement and boost market capitalization, among other benefits. 1 Not so long ago, in the 1970s and 1980s, brands and branding rose to the level of being perceived as strategic assets. 2 As marketers started understanding the power of branding, they began to realize that it is much more than a logo, symbol or slogan, but rather its entire experience. 3 In fact, brand marketers should recognize that they should be able to remove the logo and the communication and/or experience should still feel inherently like the brand. 4 Branding and Brand Management are complicated subjects. Possibly because branding is not a science (science seeks to disprove the hypothesis and paradigms by continually testing them, whereas branding seeks to prove its foundation by executing tactics in the marketplace), there is no single theory or method to explain it and to help make it work. However, there are some disciplines, particularly from the social sciences, that can help us understand it. PSYCHOLOGY Knowing and understanding psychology is crucial for developing successful brands as well as understanding why they work. We believe that in this age, consumers control the destiny of brands, not the manufacturers. For manufacturers to be successful, they need to understand the needs and wants of consumers...
eBook - ePubBrand Transformation
Transforming Firm Performance by Disruptive, Pragmatic and Achievable Brand Strategy
- Keith Glanfield(Author)
- 2018(Publication Date)
- Routledge(Publisher)
...7 Managing brand communications The management challenge Middle or senior managers instinctively consider and treat brands primarily as products or services. Implying branding’s principal benefit to the firm is to reduce consumer purchase risk and drive consumer preference. This works on the assumption that if branding does this job well it leads to customer satisfaction and customer loyalty, building a platform for the firm to adopt premium pricing, extend its brand portfolio through brand extensions and experience continued sales growth. The instinctive challenge in building this platform is often considered as communicating the brand: With the appropriate level of frequency (through marketing communications campaigns) In a creatively appropriate manner (using the right context and messages) By selecting the most appropriate communication channels (an optimal media mix). This is a task that is fairly and squarely considered a central role of the firm’s marketing function. Implicitly, getting the marketing communications right leads to a strong branding platform, assuming all that is needed is more and or different marketing communications. This text’s role is to question this underlying assumption and pose a set of questions in order to understand the present effectiveness of a firm’s brand communications and what might be done to increase its effectiveness. In practice, the above approach makes four fundamental assumptions. First, a firm’s corporate brand has very little influence on the attitudes consumers hold for its product and service brands. Second, corporate brands operate in their own distinct domain and in no way spill over into the product and service branding environment. Third, marketing communications is a primary and significant driver of consumer preference and influencer of consumer purchase behaviour...
eBook - ePubThe Language of Branding
Theory, Strategies, and Tactics
- Dawn Lerman, Robert J. Morais, David Luna(Authors)
- 2017(Publication Date)
- Routledge(Publisher)
...They oversee the brand’s fiscal bottom line while planning for future growth; in other words, they must think about today and prepare for tomorrow. As they do all of that and more, brand managers must protect the equity and character of their brand. In this book, we have shown why and how the language of a brand is central to the brand manager’s job. After all of the theory, academic studies, and cases, we end with a list of best practices for brand managers who aspire to include brand language management among their essential roles: Start with strategy and link brand language to marketing objectives. Listen to how customers use language, and understand the cultural context of their language use. Tap creative resources for imaginative brand language development. Include brand linguists on the marketing planning team. Test brand language communication with consumers qualitatively and quantitatively. Develop a brand dictionary that contains the words and phrases that capture the brand’s essence, and update it as meanings change. Track how brand-relevant culture and language change and how competitors use language. Stay vigilant on protecting and improving brand language, and never lose sight of how a brand language defines and projects a brand’s identity. References Bruce, D. (2003). The verbal identity of a brand. Retrieved from www.mindsetcreative.com/pa11.htm Giffen, P. (2013, December 7). Let’s talk verbal identities. Retrieved from www.petergiffen.com/lets-talk-verbal-identities/...
