What Is a 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. Brands commonly use identifying markers to help create
brand identities within the marketplace. They provide enormous value to the company or
individual, giving them a competitive edge over others in the same industry. As such, many
entities seek legal protection for their brands by obtaining trademarks.

What is Brand Management?

Brand management is a concept which deals with strategizing and evaluating brands in
terms of brand positioning, target customers, brand perception and brand image. For brand
management, the company should maintain a good image among the customers. The main
objective of brand management is to ensure that the product and service highlight the
quality of the brand.
Branding has been around for centuries as a means to distinguish the goods of one producer
from those of another. A brand is a specific term that may include a name, sign, symbol,
design or a combination of these, with an intention to identify goods or services of a
particular seller.

In fact, the word ‘brand’ is derived from the Old Norse word brander, which means ‘to
bum’. Branding helps to develop customer loyalty and it is advertised by sellers under their
own name. A good brand develops a corporate image. Usually customers prefer brands as
they can easily differentiate the quality.

According to Kotler and Amstrong, ‘a brand is a name, term, sign, symbol or design or a
combination of these that identifies the maker or seller of a product, or services’.

Benefits of Brand Management

 Distinguished Products. According to the most recent U.S. Census data, there were
over 250,000 full-service restaurants in the United States as of 2019.1 Strong brand
management is necessary if any of these restaurants want to be recognizable apart
from their competitors.
 Strong Employee Engagement. Brand management begins with the internal buy-in
of the values, principles, and perception of a product. By ensuring all people in a
company are part of the brand management process, employees may be more likely
to buy into the strategic plan of the brand and company.
 Increased sales quantity. Though never a given, stronger brand management that
drives brand loyalty and brand equity may drive stronger sales quantities. As more
consumers are tied to a brand or positively recognize a brand, they are more likely
to choose it over an unfamiliar alternative (all else being equal).
 Increased CLV. Customer lifetime value. In addition to greater sales quantities,
brand management drives stronger value over the lifespan of a customer.
 Customers are more likely to repeat purchases if they have a positive experience
and may be more likely to buy different products along the same product line if they
forge strong brand loyalty with a single brand.
 Leveraged Pricing. If a company has a strong reputation with the market, their
brand management may be leveraged to other products. This means a company can
sell products at a premium if their brand invokes a strong enough connection to
consumers (i.e. Apple).
 Less Volatile Market Position. Though companies always risk depressed financial
results during market downturns, companies with stronger brand management may
be able to weather the storm easier. This is because consumers may find it non-
negotiable to deviate from companies they have strong, positive associations with
even during inclement financial times.

Brand Management Is So Important

 To manage a brand, you must have a brand to maintain.

Brand management involves two main stages: establishing a brand and maintaining
it. While the bulk of brand management is dedicated to the maintenance portion,
without a strong brand, there’s no brand to sustain.

How does one establish a brand? An organization must stand out from its
competition in the marketplace. To do so, the company determines and sells its
unique selling proposition, or what differentiates the brand’s product or service in its
category. The unique selling proposition, or USP, should be defined internally and
communicated externally in branding messaging. 3

 People must know your brand in order to buy your products or services.

Brand awareness is a key component of brand management. If customers don’t

know who you are or think of your brand when it’s time to make a purchasing
decision, they will purchase a competitor’s product or service.

For potential customers to know your brand, it is critical to promote it through your
marketing and advertising efforts. All marketing messages should encourage brand
awareness while embracing your USP.3

 To gain and keep customers, you need to know where they are and what they
want.

While customers must know your brand in order to buy it, your brand also needs to
know its customers to reach them. In effective brand management, brand managers
know their target market and its spending and consumption habits, and tailor the
 placement of marketing and advertising accordingly. Your marketing activities should
meet your potential customers where they are spending their money or time.

In addition to smartly placed marketing communications, your brand should also

work toward building stronger customer loyalty, which rewards your brand with
recurring purchases. Keeping customers aware of your brand with consistent
advertising and marketing messaging helps. However, one of the most underutilized
considerations in building brand loyalty is customer service. When executed well,
customer service enables a brand to stand out from competitors, excites current and
future customers, and bolsters brand identity.4

Great customer service empowers customers and invites the possibility of them
becoming brand advocates. Customers also give feedback during customer service
interactions, which can be used throughout brand management and companywide
to inform future business decisions for a brand.

 Consistency throughout a brand is critical.

Brands should convey a consistent tone and feel in every brand touchpoint. 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. 5

A well-managed brand externally expresses itself in a voice that reflects the

company’s culture and values. This voice is reflected across its media presence,
including its website, blogs, social media, and events. To execute consistent
messaging and logo and design attributes, brand management often creates brand
style guidelines. Brand guidelines typically manage the use of a brand’s logo, fonts,
and official colors. These guidelines may also include editorial instructions, such as
how to use taglines or specific wording, facts, and figures in communications. 6

Large companies, especially ones with affiliates, must take extra care to ensure
consistency throughout a brand. The more complex the company, the more likely
the chance of an affiliate or vendor using out-of-date or inaccurate messaging or
brand identity work.5 Effective brand management examines the entirety of a brand
meticulously to ensure a brand is communicating itself clearly and reliably across
channels and platforms.

 Maintenance never ends in brand management.

Once your brand has been created, the work to maintain it never ceases. Logos,
taglines, and editorial messaging should adhere to brand guidelines. Facebook,
Twitter, and Instagram updates should convey a similar brand tone and feel as
brochures and mailers. All interactions with your brand should positively reinforce
your brand identity.

Without adequate attention and nurturing, a brand’s image erodes. It’s the
responsibility of brand management to continuously refine and improve it.