Brand management is an art of creating a brand and maintaining it. It is nothing but developing a promise to the consumer, materializing that promise, and maintaining the same for a product, a group of products, or services.
Brand management helps to manage the tangible and intangible characteristics of a brand. A competent Brand Management includes building brand identity, launching the brand, and maintaining the brand position in the market. Brand management builds and maintains the corporate image of a business.
What is a Brand? Brand may be defined from the brand owner’s perspective or the consumer’s perspective. There are various popular definitions of a brand −
● “A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name.” - American Marketing Association
What is brand identity? A brand is the sum total of the experience your customers and customer prospects have with your company. A strong brand communicates what your company does, how it does it, and at the same time, establishes trust and credibility with your prospects and customers. Your company’s brand is, in many ways, its personality. Your brand lives in everyday interactions your company has with its prospects and customers, including the images you share, the messages you post on your website, the content of your marketing materials, your presentations and booths at conferences, and your posts on social networks. Any aspect of your brand that fosters a connection between you and your customers is part of your brand identity. Your company’s logo, color scheme, slogan – those are all essential elements of a compelling brand identity. However, it’s important to think beyond the visual experiences of your brand and extend your branding to include the emotional component of customers’ experiences with your business. A truly memorable brand identity is an expression of your business at its core. It is the interwoven fabric of what you make, how you make it, and why you make it – all of the emotionally driven elements that connect people to your brand. Why does your business need a strong brand identity? First impressions are everything for a business, and especially for a new business. In fact, 48% of consumers report that they are more likely to become loyal to a brand during the first purchase or experience. 95% of all purchasing decisions are made subconsciously, making it vital for companies to create a brand identity that evokes positive emotions. If you want your business to make a positive first impression on customers and prospects, you have to be sure that your brand identity works in your favor. A strong brand increases the value of your company, creates an identity and motivation for your employees, and makes it easier for you to acquire new customers. A brand represents how people know you (or your business), and how they perceive your reputation or the reputation of your company. In today’s noisy world, a strong brand is more important than it has ever been.
Brand management is an art of creating a brand and maintaining it. It is nothing but developing a promise to the consumer, materializing that promise, and maintaining the same for a product, a group of products, or services.
ReplyDeleteBrand management helps to manage the tangible and intangible characteristics of a brand. A competent Brand Management includes building brand identity, launching the brand, and maintaining the brand position in the market. Brand management builds and maintains the corporate image of a business.
ReplyDeleteWhat is a Brand?
ReplyDeleteBrand may be defined from the brand owner’s perspective or the consumer’s perspective. There are various popular definitions of a brand −
● “A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name.” - American Marketing Association
What is brand identity?
ReplyDeleteA brand is the sum total of the experience your customers and customer prospects have with your company.
A strong brand communicates what your company does, how it does it, and at the same time, establishes trust and credibility with your prospects and customers.
Your company’s brand is, in many ways, its personality.
Your brand lives in everyday interactions your company has with its prospects and customers, including the images you share, the messages you post on your website, the content of your marketing materials, your presentations and booths at conferences, and your posts on social networks.
Any aspect of your brand that fosters a connection between you and your customers is part of your brand identity.
Your company’s logo, color scheme, slogan – those are all essential elements of a compelling brand identity.
However, it’s important to think beyond the visual experiences of your brand and extend your branding to include the emotional component of customers’ experiences with your business.
A truly memorable brand identity is an expression of your business at its core.
It is the interwoven fabric of what you make, how you make it, and why you make it – all of the emotionally driven elements that connect people to your brand.
Why does your business need a strong brand identity?
First impressions are everything for a business, and especially for a new business. In fact, 48% of consumers report that they are more likely to become loyal to a brand during the first purchase or experience.
95% of all purchasing decisions are made subconsciously, making it vital for companies to create a brand identity that evokes positive emotions.
If you want your business to make a positive first impression on customers and prospects, you have to be sure that your brand identity works in your favor.
A strong brand increases the value of your company, creates an identity and motivation for your employees, and makes it easier for you to acquire new customers. A brand represents how people know you (or your business), and how they perceive your reputation or the reputation of your company. In today’s noisy world, a strong brand is more important than it has ever been.
By Amanda Bowman