Brand management principles

2. Principles of Brand
Management
Saran

3. Introduction
The marketing of a certain product or brand in order to increase the popularity among the
consumers with an intention to increase the sales and market share is known as Brand
Management. It is commonly used to increase the value of a certain product over a period by
using different techniques of marketing. If you have done a great job in brand management then
you would be able to let the price of your product or brand rise higher and build loyal customers
by maintaining a positive image and brand associations and creating awareness among the
people.
The marketing of a certain product or brand in order to increase the popularity among the
consumers with an intention to increase the sales and market share is known as Brand
Management. It is commonly used to increase the value of a certain product over a period by
using different techniques of marketing. If you have done a great job in brand management then
you would be able to let the price of your product or brand rise higher and build loyal customers
by maintaining a positive image and brand associations and creating awareness among the
people.

4. Cont…
There are however, many categories of brands in the industry of marketing,
products that are expensive are known as premium brands. On the other hand, the
brands that have comparatively cheaper price but claim to be of good quality are
known as economy brands. If a competitor of a product comes out claiming to be
of superior quality then a new brand or product deemed “better than ever” before
May also is introduced.
Most of the marketing people consider a brand as a promise to the users that
the quality level that people expect out of it would keep increasing with the
passage of time. By making and fulfilling such promise, the companies end up
increasing their sales with their competitive products. Moreover, if the quality and
value of the product is perceived to be greater in eyes of consumers then the
manufacturers could also increase the price of product to get more profit.

5. Cont….
The word “promise” to the marketers means to define and position the product and brand
in the mind of consumers. The good brand is always desirable and memorable because if the users
could not remember a certain product then it would be of no use and would not be able to bring
profit to the company. That is why brand management is considered to be the most difficult
element of branding but important at the very same time.
The basic purpose of brand management in a company is to create an emotional
connection of the brand to the consumers. If you are capable enough to create an effective and
memorable image of your product in the mind of consumers, then the profits your company could
earn would be unlimited.
However, five pointers could be used in order to make sure that the brand management of
your company is sound and effective.

6. Brand Equity
If you have become successful in creating a unique and
memorable identity of your product in the mind of consumers then you
already have gained competitive advantage. If you have strong
competitors then you could also use price reducing or free gifts sort of
campaigns occasionally to attract more customers and creating
emotional connections.

7. Consistency
You need to ensure that the promotional campaigns and
strong brand awareness that you are doing is consistent with the
philosophy of the brand. It would help you to leverage off the
common identity you had and create a unique identity by creating
familiarity in the consumers.

8. Strictness
The individual targets are achieved by the individual product managers and would different
effective strategies in trying to gain profits. By doing so, many managers tend to forget what
exactly their core brand philosophy is. Therefore, you should be strict enough to avoid any
creeping because if you don’t then the customers could lose their trust over the product and
won’t identify your product anymore, thus, making your brand to suffer.

9. The Changes
If you start realizing that the brand you have built is clashing with the
objectives of company then it is important for you to know that it’s time to
bring changes rather than being stuck in the middle of problems. If the brand
equity you have built is based on a different concept then it would bring no
good to strategically move one place. Therefore, you should always try to
keep the brand philosophy and strategic objectives should always go hand in
hand.

10. Extending Brands
Many companies make mistake of linking to many products or sub brands to a core
brand proposition. Because of this marketing approach, the core message gets dilute because
audience gets confuse and fails to feel an emotional connection to the brand. Therefore, you
need to ensure that you are not doing the same mistake. If the existing core brand fails to
add value and the audience that you intend to target is specific then it is always best
recommended to create a new brand rather than combining it with the core brand.
Thus, brand management should always start by making the objectives and goals
clear that what your company needs to achieve in a specific period. You should also have a
fair idea about the demographics where you plan to penetrate the brand and the strategies
and techniques that could be used in order to make your brand appealing. You could also
create a brand value that is resonating with the values of your company or brand
management.

11. You could use a unique and attractive logo to make people aware of
the product. Beautiful and bright packaging also makes customers like your
product and maintains a particular position of your brand in their minds. By
doing so, you would be able to increase the familiarity, popularity and
connection of the brand you have developed with the customers and you
would end up making increased rate of profits more than you imagined.
However, you need to keep monitoring the marketing team of your
company to make sure that the things are being implemented and carried the
way they were planned and necessary steps are being taken to increase
customer satisfaction and expectations at the same time. If you are a good
brand manager then you would be aware of all the things that might be going
on and would have a firm control over them

12. Thank You…..