Brand Management: A Complete Guide (With Examples And Tips)
By Indeed Editorial Team
Published 4 May 2022
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
Brand management refers to the techniques and strategies used in marketing to increase the perceived value of a product, service, or brand. Effective brand development strategies can also help in increasing the price of the product, creating brand awareness and developing customer loyalty by positive brand associations. It is the art of effective marketing strategies that can help make a business successful. In this article, we discuss brand management, explore its importance, look at its benefits, review some examples and additional tips to help you manage a brand successfully.
What is brand management?
Brand management helps in defining, positioning and delivering the brand values to the consumers. It helps create the brand's identity and builds a stronger relationship with the audience. A brand is one of the most important driving features for influencing audiences, creating a brand image, differentiating the brand from its competitors and driving consumers to make a purchase. Being responsible for managing a brand involves coming up with innovative and creative strategies for the company and its products and services, alongside maintaining the quality and retaining the customers to deliver brand success.
It is an essential part of any company's marketing strategy and includes creating advertisements, coming up with marketing campaigns, involvement in product development and product packaging. Alongside marketing professionals, many other employees like sales associates, communication specialists and client relationship managers are equally involved in this activity. Together, they create a positive and memorable brand experience for the customer, at different touchpoints along the buyer's journey.
Importance of brand management
Whenever you think of brands, some names immediately come to your mind, which results from their brand management efforts. There are millions of brands all around the world, but the ones that pass the longevity test make their mark and create a long-lasting effect. Effectively managing a brand is the key to passing this test and delivering long-lasting success. Here are a few reasons why brand recognition and management are important for a successful business:
Creating brand awareness
Having a strong brand marketing strategy helps to create and maintain brand awareness amongst your customers. Your customer is brand-aware when they have top-of-the-mind-recall for the brand, i.e. whenever they are contemplating making a purchase, your product or brand is the one that immediately comes to their mind. This increases the chances of customers giving first preference to your product or brand.
Maintaining brand consistency
An effective brand strategy can contribute to consistency throughout your marketing, advertising and business development activities. Having consistency allows the company to stay aligned with its intent and goals and make choices accordingly. It also helps in tailoring your marketing efforts towards the specific set of target audiences and prevents brand confusion.
Building a brand identity
Having a clear understanding of the company's values and identity is crucial in managing a brand. It helps you prioritise different aspects of the brand so that you can make informed decisions about the current and prospective direction of the company's business plan. Once the brand garners popularity and reliability in the market, it automatically creates brand affinity for the products.
Benefits of brand management
It takes a long time, along with dedicated and continuous effort, to build a powerful brand. A strong brand increases the value of the company and provides the employees with motivation, orientation and a sense of belonging, making the results worth the effort. Let us look at some benefits of brand development:
Easy introduction and positive association of the product
Once you establish a brand identity, it is easier to introduce a new product or service to your customer base. If you have a large and consistent customer base, chances are that they are more likely to purchase new products and services. If your customers are aware of the brand and have a positive association with its products, they might try out a different range of products and services that you offer as well.
Credibility amongst the customers and the industry directly affects recognition and customer loyalty. Management of a brand helps in creating and promoting a positive image of the brand, which increases its credibility. Strong brand credibility influences your customers' purchasing decisions and makes them stay loyal to the company.
Increases customer recognition
Customers tend to choose a brand that they are already familiar with over a brand they do not know. With the right brand development techniques, you can create an image of your brand, which is relatable to your target customers. This can improve the purchasing process and lead to an increase in the number of sales.
Examples of brand management
Some brands have made a lasting impact on the minds of their audience with their brand marketing skills. These brands have been in the market for decades and are yet among the most recognised and widely loved ones amongst the audience. Here are some of the ways in which they have achieved instant memory recall and become a household name for their respective products:
Using jingles for brand marketing
A popular dairy brand has used jingles throughout its marketing history, with each being highly memorable and relatable to its audience. Another way in which the brand maintains brand consistency is by being vocal about every social issue and creating a mascot. The brand connects emotionally with its audiences by focusing on interactive content. Their strategy focuses less on their products and more on current affairs and trends, making their content very engaging. Their print and digital advertising assets always include their mascot alongside their content, which has a creative persona and a pun-based catchphrase.
Using ads and social media
An adhesive company has reached a level of brand awareness where people associate the brand name with glue. Their primary strategy to create brand awareness was that they decided to not sell their product only through stores. The company reached out directly to carpenters, asked them to use their product and share their feedback. This helped them gain trust, build an audience before even starting their marketing efforts and outscore their competitors in the market.
Later, they gradually started off with print and television advertising, which delivered iconic and memorable ads. Over the years, the brand adapted to the changing trends and shifted to social media. Today, their creative communication strategy has made them quite popular on social media, boosting their reach and engagement. They showcase their brand through current happenings incorporated with a witty and eye-catching phrase.
Tips for successful brand management
A consistent and recognisable brand is a company's biggest asset. Coming up with an effective and fool-proof strategy can be a daunting task, but with technological resources and a marketing team, it can be easier. Here are a few tips to help you create a successful brand development strategy:
Follow a process
Start by identifying the brand's position in the market. This can help you understand the value of your products and services for your customer base. Next, create a marketing plan that involves factors like pricing, packaging, advertising and promotion and is effective for your brand strategy. Measure your brand's performance by collecting and reviewing analytics to compare current performance with previous campaigns and competitors in the market. The last step is to monitor and reevaluate the success of your brand development strategy. This way, you can change your techniques and apply improved methods in future strategies.
Set clear expectations for the brand
Every member of your team requires to clearly understand your brand marketing strategy, so they can contribute accordingly. You can create a style guide to distribute across the teams, that describes the practices and image guidelines of the brand. This helps present a consistent image of your brand to your target audience.
Understand your customer requirements
Understanding your customers' requirements and behaviours helps you understand their perspectives towards the brand. You can conduct market research to get an in-depth analysis of the buying trends, patterns and habits of your target audience. This way, you can create your brand marketing strategy by understanding your customer preferences and marketing your products and services accordingly.
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