Bangladesh Institute of Management

(BIM)

Assignment on
Summarization of Understanding of the course-
Brand Management

Course Name: Marketing Management Student Name: Md. Tanbir Rahman

Student ID: 20MM012

Course Instructor: Dr. Uttam Kumar Datta Department: Marketing Management

Sr. Management Date: 07/06/2021
Counsellor
Contents
Reviewing Brand Management:................................................................................................................3
What is Brand:............................................................................................................................................3
What Is Brand Management.......................................................................................................................3
Brand Management Process:......................................................................................................................3
Identify Brand Positioning and Value:..................................................................................................3
Brand Marketing Planning:..................................................................................................................3
Measuring Brand Performance:..........................................................................................................4
Growth & Sustainability......................................................................................................................4
Strategic Brand Management Process:......................................................................................................4
Brand Equity:..............................................................................................................................................4
Customer-Based Brand Equity:...................................................................................................................4
Brand knowledge........................................................................................................................................5
Brand awareness........................................................................................................................................5
Brand Image:...............................................................................................................................................5
The four steps of brand building:...............................................................................................................5
Brand Building Blocks.................................................................................................................................5
1. Brand Salience:............................................................................................................................5
2. Brand Performance:....................................................................................................................6
3. Brand Imagery:............................................................................................................................6
4. Brand Judgments:.......................................................................................................................6
5. Brand Feelings:............................................................................................................................6
6. Brand Resonance:.......................................................................................................................6
BRAND POSITIONING AND VALUES............................................................................................................6
Target Market:.........................................................................................................................................6
Target Market Segmentation:.................................................................................................................7
CHOOSING BRAND ELEMENTS TO BUILD BRAND EQUITY........................................................................7
DESIGNING MARKETING PROGRAMS TO BUILD BRAND EQUITY.......................................................7
Developing a Brand Equity Measurement and Management System:..............................................9
Brand Judgments:...............................................................................................................................9
Brand performance:..........................................................................................................................10
Conclusion:................................................................................................................................................10
Reviewing Brand Management:
What is Brand: The term brand refers to a business and marketing concept that helps people
identify a particular company, product, or individual. Brands are intangible, which means you can't
actually touch or see them. As such, they help shape people's perceptions of companies, their
products, or individuals.

What Is Brand Management: Brand management is a broad term used to describe

marketing strategies to maintain, improve and bring awareness to the wider value and reputation
of a brand and its products over time. A strong brand management strategy helps to build and
nurture closer relationships with its audience.

Why brand management is important: Brands should convey a consistent tone and feel in every
brand touch point. Brand managers work to ensure that both aesthetic and intangible aspects of a
brand align. This includes packaging, product or service quality, marketing campaigns, and the
customers' emotional experience of interacting with your brand.

Brand Management Process:

Brand management process includes the following steps-

Identify Brand Positioning and Value: The first step in the brand management process is to
understand the product and service offering in terms of positioning and brand value it offers to the
customers. This is the foundation for companies as how they want the customers to perceive their
product or service is a part of brand development.

Brand Marketing Planning: Brand building is the next step in brand management for a
product/service. This process includes creation of the brand by creating components like pricing,
packaging, customer service etc. Also, brand awareness techniques like marketing, branding &
advertising also come under this step. Companies use integrated marketing communications (IMC)
to promote its products & services.
Measuring Brand Performance: It is not simply important to create brand but to also measure
its performance vis-à-vis competitors & other market dynamics. This step in brand management
identifies parameters like brand recall, brand preference, brand recognition etc.

Growth & Sustainability: The final step in the brand management process post evaluation is to
improve the brand performance to ensure growth and sustainability. Brand equity is the measure
of the quality offered by a product and service.

Strategic Brand Management Process:

Strategic brand management involves the design and implementation of marketing
programs and activities to build, measure and manage brand equity.
There are four main steps of strategic brand management –
1. Identifying and establishing brand positioning and values.
2. Planning and implementing brand marketing programs
3. Measuring and interpreting brand performance.
4. Growing and sustaining brand equity.

Brand Equity:
Brand equity, in marketing, is the worth of a brand in and of itself — i.e., the social value of
a well-known brand name. The owner of a well-known brand name can generate more
revenue simply from brand recognition, as consumers perceive the products of well-
known brands as better than those of lesser-known brands.
Brand equity refers to a value premium that a company generates from a product with a
recognizable name when compared to a generic equivalent. Companies can create brand
equity for their products by making them memorable, easily recognizable, and superior in
quality and reliability. Mass marketing campaigns also help to create brand equity.
Brand Equity is the value of a brand, or can be summarized as the perceived value by
consumers over other products. The equity of your brand is important because, if your
brand has positive brand equity, you can charge more for your products and services than
the generic products or other competitors.

Customer-Based Brand Equity:

Customer based brand equity is formally defined as the differential effect that brand
knowledge has on consumer response to the marketing of that brand.
There are three key ingredients to this definition:

 Differential effect
 Brand knowledge
  Consumer response to marketing.

Brand knowledge
From the perspective of the CBBE model, brand knowledge is the key to creating brand
equity, because it creates the differentials effect that drives brand equity.
Brand knowledge can be characterized in terms of two components: Brand awareness and
Brand image.

Brand awareness
Plays an important role in consumer decision making for three main reasons:
• Learning advantages
• Consideration advantages
• Choice advantages.

Brand Image:
A positive brand image is created by marketing programs that link strong, favorable and
unique associations to the brand in memory:
• strength of brand associations

The four steps of brand building:

I. Ensure identification of the brand with customers and an association of the
brand in customers mind with a specific product class or customer need.
II. Firmly establish the totality of brand meaning in the minds of customers by
strategically linking a host of tangible and intangible brand associations with
certain prosperities.
III. Elicit the proper customer responses to this brand identification.
IV. Convert brand response to create an intense, active loyalty relationship between
customers and the brand.

Brand Building Blocks

1. Brand Salience: Brand salience relates to aspects of the awareness of the brand
 2. Brand Performance: Brand performance relates to the ways in which the
product or service attempts to meet customers more functional needs.
3. Brand Imagery: Brand imagery deals with the extremis properties of the
product or service, including the ways in which the brand attempts to meet
customer’s psychological or social needs.

4. Brand Judgments: Brand judgments focus on customer’s personal opinions and

evaluations with regard to the brand.
Focus types of summary brand judgments are particularly important:
 Quality
 Credibility
 Consideration
 Superiority

5. Brand Feelings: Brand feelings are customers’ emotional responses and

reactions with respect to the brand.
6. Brand Resonance: The final steps of the model focuses on the ultimate
relationship and level of identification that the customer has with the brand.
Brand resonance can be broken down into four categories:
1) Behavioral loyalty
2) Attitudinal attachment
3) Sense of community
4) Active engagement

BRAND POSITIONING AND VALUES

Brand Positioning is at the heart of marketing strategy. Kotler defines brand positioning as
the ―act of designing the company’s offer and image so that it occupies a distinct
and valued place in the target customer’s minds.

Target Market:
A target market is a group of customers within a business's serviceable available market at
which a business aims its marketing efforts and resources. A target market is a subset of
the total market for a product or service.
Target Market Segmentation:
Market segmentation is the practice of dividing potential customers into meaningful
subgroups based on their characteristics and preferences.

CHOOSING BRAND ELEMENTS TO BUILD BRAND

EQUITY

Criteria for choosing brand elements at a glance

a. Memorable
b. Meaningful
c. Likable
d. Transferable
e. Adaptable
f. Protect able
g. Brand Names
h. Logos and Symbols
i. Characters
j. Slogans
k. Jingles
l. Packaging

DESIGNING MARKETING PROGRAMS TO BUILD BRAND EQUITY

The rapid expansion of the Internet has brought the need for personalized marketing into
sharp focus.
a. Personalizing Marketing: Marketers are embracing concepts such as experiential
marketing, one to one marketing and permission marketing.
b. Experiential Marketing: The idea is not to sell something, but to demonstrate how a
brand can enrich a customer’s life.
c. One-to-one Marketing: One-to-one marketing help to add value by providing
information to marketers. The fundamental concepts at one-to-one marketing.
d. Permission Marketing: Five Steps to effective Permission Marketing:
 - Offer the prospect an incentive to volunteer.
- Offer the interested prospect a curriculum over time, teaching the
consumer about the product or service being marketed.
- Reinforce the incentive to guarantee that the prospect maintains the
permission.
- Offer additional incentives to get more permission from the consumer.
- Over time, leverage the permission to change consumer behavior toward
profits.

Integrating Marketing Communications to Build Brand

Equity: Marketing communications are the means by which firms attempt to inform,
persuade, and remind consumers directly or indirectly about the brands they sell.
Marketing programs play an important role in building up of brand equity. These
marketing programs are related to product, price and distribution channels. And these
programs are necessary to create brand image and also to build brand awareness.
Marketing communication needs to be flexible in current technology driven environment
where consumer are internet savvy and have access to information.
Firstly, to be fully effective, an advertisement needs to convey your message clearly.
Everybody has to be able to understand it. Furthermore, before you place your message
out there for everyone to hear, you have to do some analyzing. Find out what the current
state of brand awareness is. What’s more, look into whether it needs improving or not.
Look into the type of attitude the consumers have toward your brand. Then adjust your
marketing communication ac Marketing Communication Options
You can communicate with your consumers in various ways. Each option has some benefits
and downfalls.

Advertisement
Television
This is the most common way of marketing communication. You can publish ads in print,
on TV and radio, or in magazines and newspapers. Advertising is a great way to reach a
broad audience. What’s more, you can reach people who aren’t geographically close to
you. However, running ads can be expensive, especially if you choose the television as your
medium.
Radio
Radio has a much smaller reach than television these days, but it’s also less expensive. You
can’t reach people globally with it, but you can still reach a large number of people.
However, radio advertisements don’t have the same appeal as television ads. People can
only hear your announcements, which makes attention-grabbing that much more difficult
to achieve.
Print
Print ads give you the opportunity to provide more information to your potential
consumers. However, much like the radio, these ads only have one channel of stimulation
— the visual pathway. Therefore, they probably won’t generate the same level of response
as TV ads would, for example.
Leveraging Secondary Brand Knowledge to build Equity:
Leveraging Secondary Associations. Creation of new brand associations. Effects on existing
brand knowledge. Awareness and knowledge of the entity. Meaningfulness of the
knowledge of the entity. One potentially valuable strategy for companies to build brand
equity for their products and services is to actually link their brands to other people, places
and things. By linking their brands to these other entities, consumers may change how
they think, feel or act towards the company’s brands. To help understand how these
secondary associations can transform brand knowledge, a comprehensive, cohesive model
of brand building – the brand resonance model – is reviewed and applied. Theoretical
insights are generated and practical issues are identified and discussed to aid brand
planning and measurement.
Developing a Brand Equity Measurement and Management System:
A brand equity measurement system is a set of research procedures that is designed to
provide timely, accurate, and actionable information to marketers so that they can make
the best possible tactical decisions in the short run and strategic decisions in the long-run.
Brand Equity is the value of a brand, or can be summarized as the perceived value by
consumers over other products. The equity of your brand is important because, if your
brand has positive brand equity, you can charge more for your products and services than
the generic products or other competitors Brand awareness is a marketing term that
describes the degree of consumer recognition of a product by its name. Creating brand
awareness is a key step in promoting a new product or reviving an older brand.
Ideally, awareness of the brand may include the qualities that distinguish the product from
its competition.
Brand awareness is important because it is the very first step in the marketing funnel, and
a crucial foundation to eventually acquire customers. Brand awareness refers to people's
ability to recall and recognize your business. There are several reasons why it is important
to build and increase brand awareness.
Brand Judgments: The Brand Judgment means, what customer decides with respect to the
product? The customers make the judgment about the product by consolidating his several
performances and the imagery associations with the brand.
Brand judgment is essential to be learned to know customer needs and wants, and that's
why it is important to understand the customer's judgment that we listed down already
into four important types
Brand performance:
You can measure your brand's performance by looking at metrics such as awareness,
familiarity, consideration, and advocacy. Having a great brand is important for any
business to be successful – it's that all-important first impression that lasts in people's
minds and helps them trust the business
Brand resonance:
Brand resonance is how well clients and customers relate to a specific brand.
It is how they perceive the values and goals of that brand. It is how brands can build
relationships with their target audience. Strictly speaking, when people speak of brand
resonance, they refer to a ―brand resonance pyramid‖.

Conclusion:
Today, the commodity marketplace is flooded with various brands. The Requirement of the
seller’s brand to stand out among other parallel brands is crucial. Hence, there is a fierce
competition among the sellers to make their products or services stand out in the market,
thereby winning new consumers and retaining the existing ones. At times, it even leads to
diverting the consumers following other brands to the seller’s brand. To remain
competitive in the marketplace, strong brand management is required.