Brand Management

Brand Marketing, Brand Equity, Brand Identity, Brand Strategy and Branding Issues are all terms which fit under the umbrella of Brand Management.

Brand Management is defined as the application of marketing techniques (logos, color schemes, slogans, personalities, product mix, packaging, pricing) to a specific product, product line, or brand. It seeks to increase the product’s perceived value to the customer and thereby increase brand equity. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with present and future purchases of the same product. This may increase sales by making a comparison with a competing product, product line, or brand more 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 results from a combination of increased sales and increased price.

All said, take a look at any prospering business. Is there equity within the brand? What Marketing Elements are being employed to build Brand Recognition? Does the Brand create an expectation of quality? In what ways is Brand Management evident?