Brand Management

What is the Brand Management?

             

      A brand is a name, term, sign, symbol, design or a combination of the above to identify  the goods or service of a seller and differentiate it from the rest of the competitors.

Tangibles

Eg.

nProduct

nPackaging

nLabelling

nAttributes

nFunctional benefits

                                                     Intangibles

Eg.

nQuality

nEmotional benefits

nValues

nCulture

nImage

                                                      Brand Identity

It is the marketer’s promise to give a set of features, benefits and services consistently

Brand Building

Involves all the activities that are necessary to nurture a brand into a healthy cash flow stream after launch

What kind of activities?

Eg.

nProduct development

nPackaging

nAdvertising

nPromotion

nSales and distribution

                         What is brand equity?

nThe premium it can command in the market

nDifference between the perceived value and the intrinsic value

The value proposition

n Broad positioning

n Specific positioning

n Value positioning

Creating the brand

n Choosing a brand name

n Develop rich associations and promises

n Managing customer brand contact to meet and exceed expectations.

Considerations in choosing a brand name

nWhat does the brand name mean?

nWhat associations / performance / expectations does it evoke ?

nWhat degree of preference does it create?

A brand name should indicate

nProduct benefits

nProduct quality

nNames easy to remember, recognise, pronounce

n Product category

n Distinctiveness

n Should not indicate poor meanings in other markets or languages.

Brand Associations

n‘owned word’

nSlogans

nColours

nSymbols and logos.