Brand Management **

Author Topic: Brand Management **  (Read 3146 times)

Offline Badshah Mamun

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Brand Management **
« on: April 28, 2012, 04:09:55 PM »
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 an art of creating and sustaining the brand. Branding makes customers committed to your business. A strong brand differentiates your products from the competitors. It gives a quality image to your business.

Brand management includes managing the tangible and intangible characteristics of brand. In case of product brands, the tangibles include the product itself, price, packaging, etc. While in 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 medium into a whole so as to give you an identity. It is nothing but capturing your customers mind with your brand name. It gives an image of an experienced, huge and reliable business.
It is all about capturing the niche market for your product / service and about creating a confidence in the current and prospective customers’ minds that you are the unique solution to their problem.

The aim of branding is to convey brand message vividly, create customer loyalty, persuade the buyer for the product, and establish an emotional connectivity with the customers. Branding forms customer perceptions about the product. It should raise customer expectations about the product. The primary aim of branding is to create differentiation.

Strong brands reduce customers’ perceived monetary, social and safety risks in buying goods/services. The customers can better imagine the intangible goods with the help of brand name. Strong brand organizations have a high market share. The brand should be given good support so that it can sustain itself in long run. It is essential to manage all brands and build brand equity over a period of time. Here comes importance and usefulness of brand management. Brand management helps in building a corporate image. A brand manager has to oversee overall brand performance. A successful brand can only be created if the brand management system is competent.

Following are the important concepts of brand management:

           Definition of Brand
           Brand Name
           Brand Attributes
           Brand Positioning
           Brand Identity
           Sources of Brand Identity
           Brand Image
           Brand Identity vs Brand Image
           Brand Personality
           Brand Awareness
           Brand Loyalty
           Brand Association
           Building a Brand
           Brand Equity
           Brand Equity & Customer Equity
           Brand Extension
           Co-branding

Md. Abdullah-Al-Mamun (Badshah)
Senior Assistant Director
Daffodil International University
01811-458850
cmoffice@daffodilvarsity.edu.bd
www.daffodilvarsity.edu.bd

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