For anyone that dreams of assailing great
heights in pushing forward or marketing his product or service, there are
golden rules that are required for excellence: This is also called BRAND
MANAGEMENT.
To begin with, you need to have a thorough
knowledge of the term “brand”. It includes developing a promise, making that
promise and maintaining it. It means defining the brand, positioning the brand,
and delivering the brand. Brand management is nothing but an art of creating
and sustaining the brand. Branding makes customers committed to your business.
A strong brand differentiates your products from the competitors. It gives a
quality image to your business.
Business Manager |
Brand management includes managing the tangible and intangible characteristics
of brand. In case of product brands, the tangibles include the product itself,
price, packaging, etc. While in case of service brands, the tangibles include
the customers’ experience. The intangibles include emotional connections with
the product / service.
Branding is the assembling
of various marketing mix medium into a whole so as to give you an identity. It
is nothing but capturing your customers mind with your brand name. It gives an
image of an experienced, huge and reliable business.
The aim of branding is to convey brand message vividly, create customer
loyalty, persuade the buyer for the product, and establish an emotional
connectivity with the customers. Branding forms customer perceptions about the
product. It should raise customer expectations about the product. The primary
aim of branding is to create differentiation. You must cut a niche for yourself,
stand out of the crowd and be different.
Strong brands reduce customers’ perceived monetary, social and safety
risks in buying goods/services. The customers can better imagine the intangible
goods with the help of brand name. Strong brand organisations have a high
market share. The brand should be given good support so that it can sustain
itself in the long run. It is essential to manage all brands and build brand
equity over a period of time. Here comes importance and usefulness of brand
management. Brand management helps in building a corporate image. A brand
manager has to oversee overall brand performance. A successful brand can only
be created if the brand management system is competent. If you run a small
business of your own – perhaps one-man outfit, then see yourself as the image
maker or brand manager/marketer of your business or trade. It does not matter.
But packaging is all.
By Morgan Nwanguma
By Morgan Nwanguma
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