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Brand Management

Brand Management

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Published by deepak
Red bull Brand management
Red bull Brand management

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Published by: deepak on Sep 03, 2010
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Brand management
Brand
-- The sum total of all the characteristics, tangible and intangible, that makes a company unique.
 
Brand management
is the application of marketingtechniques to a specific product, product line, or  brand. It seeks to increase the product's perceived value to the customer and thereby increase brand franchise and brand equity. Marketers see a brand as an implied promise that thelevel of qualitypeople have come to expect from a brand will continue with future purchases of the same product. This may increase sales by making a comparison with competing productsmore favorable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer. This can resultfrom a combination of increased sales and increased price, and/or reduced COGS (cost of goodssold), and/or reduced or more efficient marketing investment. All of these enhancements mayimprove the profitability of a brand, and thus, "Brand Managers" often carry
line-management 
 accountability for a brand's P&L (Profit and Loss) profitability, in contrast to marketing
 staff 
 manager roles, which are allocated budgets from above, to manage and execute. In this regard,Brand Management is often viewed in organizations as a broader and more strategic role thanMarketing alone.The annual list of the world¶s most valuable brands, published byInterbrandand
 Business Week 
,indicates that the market value of companies often consists largely of brand equity. Research byMcKinsey & Company, a global consulting firm, in 2000 suggested that strong, well-leveraged brands produce higher returns to shareholders than weaker, narrower brands. Taken together, thismeans that brands seriously impact shareholder value, which ultimately makes branding aCEO responsibility.The discipline of brand management was started atProcter & GamblePLC as a result of afamous memo by Neil H. McElroy.
[1]
 
Principles of brand management 
A good
b
rand name
should:
y
 
be protected (or at least protectable) under trademark law.
y
 
be easy to pronounce.
y
 
be easy to remember.
y
 
be easy to recognize.
y
 
be easy to translate into all languages in the markets where the brand will be used.
y
 
attract attention.
y
 
suggest product benefits (e.g.:Easy-Off ) or suggest usage (note the tradeoff with strongtrademark protection.)
y
 
suggest the company or productimage.
y
 
distinguish the product'spositioningrelative to the competition.
y
 
be attractive.
y
 
stand out among a group of other brands.
 
[
edit] Types of 
b
rands
>
 premium brand
>
economy brand
>
fighting brand
>
corporate branding
>
individual branding
>
family branding
>
employment brand
>
"
[2]
 
[
edit] Functions of 
b
rand
(For consumers) Identification of source of product, Assignment of responsibility to productmaker, Risk reducer, Search cost reducer, Symbolic device, Signal of quality.(For Manufacture)Means of identification to simplify handling or tracing, Means of legally protecting uniquefeatures, Signal of quality level to satisfied customers, Means of endowing products with uniqueassociations, Source of competitive advantage, Source of financial returns. ("Strategic BrandManagement" 3rd edition,Kevin Lane Keller)
[
edit] Brand architecture
The different brands owned by a company are related to each other via brand architecture. In"product brand architecture", the company supports many different product brands with eachhaving its own name and style of expression while the company itself remains invisible toconsumers. Procter & Gamble, considered by many to have created product branding, is a choiceexample with its many unrelated consumer brands such as Tide, Pampers, Abunda, Ivory andPantene.With "endorsed brand architecture", a mother brand is tied to product brands, such as TheCourtyard Hotels (product brand name) by Marriott (mother brand name). Endorsed brands benefit from the standing of their mother brand and thus save a company some marketingexpense by virtue promoting all the linked brands whenever the mother brand is advertised.The third model of brand architecture is most commonly referred to as "corporate branding". Themother brand is used and all products carry this name and all advertising speaks with the samevoice. A good example of this brand architecture is the UK-based conglomerate Virgin. Virgin brands all its businesses with its name
[
edit 
 
] Techniques
Companies sometimes want to reduce the number of brands that they market. This process isknown as "Brand rationalization." Some companies tend to create more brands and productvariations within a brand thaneconomies of scalewould indicate. Sometimes, they will create aspecific service or product brand for each market that they target. In the case of product branding, this may be to gain retail shelf space (and reduce the amount of shelf space allocated tocompeting brands). A company may decide to rationalize their portfolio of brands from time totime to gain production and marketing efficiency, or to rationalize a brand portfolio as part of corporate restructuring.
 
A recurring challenge for brand managers is to build a consistent brand while keeping itsmessage fresh and relevant. An older brand identity may be misaligned to a redefined targetmarket, a restated corporatevision statement, revisitedmission statementor values of a company. Brand identities may also lose resonance with their target market through demographicevolution.Repositioninga brand (sometimes calledrebranding), may cost some brand equity, and can confuse the target market, but ideally, a brand can be repositioned while retainingexisting brand equity for leverage.Brand orientationis a deliberate approach to working with brands, both internally and externally.The most important driving force behind this increased interest in strong brands is theaccelerating pace of globalization. This has resulted in an ever-tougher competitive situation onmany markets. A product¶s superiority is in itself no longer sufficient to guarantee its success.The fast pace of technological development and the increased speed with which imitations turnup on the market have dramatically shortened product lifecycles. The consequence is that product-relatedcompetitive advantagessoon risk being transformed into competitive prerequisites. For this reason, increasing numbers of companies are looking for other, moreenduring, competitive tools ± such as brands. Brand Orientation refers to "the degree to whichthe organization values brands and its practices are oriented towards building brand capabilities´(Bridson & Evans, 2004).
F
irst of all there is need to understand the term Brand Management. Definition-: Brand managementis a process to manage popularity of Brand. It may be product or service. Brand Management is acombined contribution of Advertisement Process, Marketing Process and Sales Process.
Roles and responsibilities of Brand Manager-:
1 To Advertise product at relevant media.2 Selecting appropriate advertisement media according to the nature of product and service.3 Make available product information within reach of Marketeers. And control rumour by passingaffirmative information.4 Keep vigil on brand promotional activities, whether activities are being performed accordingly or not?5 Making decisions regarding to media selection.6 Conduct survey with competitor's service or product and collecting feedback and analysis.7 Get information about consumer's demand and interest.8 Collect information about area of consumers, display brand at target place.(Target place may varyproduct to product.)9 Get horizontal and vertical approach followed for brand promotion.If you are a brand manager, you should be gotten aware with real time customers and market. Real timemarket is a place where your product is consumed or can be consumed as a substitute of other, that isalready exist in market. If your product is based on web, your primary brand promotion media should beInternet. You can choose print and electronic media, but approaches of these mediums should be closeto targeted clients and customers.

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