Brand Management

Source: The Audiopedia

Brand Management is the process which comes under marketing where Brand Manager begins with the analysis on how a brand’s image is currently perceived in the market, which follows by the planning on how the brand should be perceived to achieve its desired objectives and finally follows by ensuring that the brand continues to be perceived as planned and to ensure that it will achieve its objectives.

Once a brand becomes Brand, the most difficult part is maintaining it, So Brand Management helps to do that. What are the essential points to remember for brand management? A well-developed relationship with Target Market. The Brand image is always judged on two elements, always Tangible and Intangible.

The Product itself, its price, looks and packaging, and many more are included in Tangible elements. The Experience and the relationship that a target market shares with the brand are considered as intangible elements.

Benefits of Successful Brand Management: 

  • Brand awareness boosting
  • Allow you to charge as much as you want for products or services
  • Influence your customer’s purchase decisions
  • Customer loyalty Increases
  • Helps Increasing sales
  • Create happy customers

What is Brand Management?

Brand Management can be described as managing your brand’s reputation to increase the perceived value of a brand or a product line to achieve its desired objectives or goals. Brand management is creating awareness and loyalty towards your brand.

Once a brand becomes Brand, the most difficult part is maintaining it, So Brand Management helps to do that. The Product itself, its price, looks and packaging, and many more are included in Tangible elements. The Experience and the relationship that a target market shares with the brand are considered as intangible elements.

Benefits of Successful Brand Management: 

  • Brand awareness boosting
  • Allow you to charge as much as you want for products or services
  • Influence your customer’s purchase decisions
  • Customer loyalty Increases
  • Helps Increasing sales
  • Create happy customers

Brand Management Courses

Brand Management can be described as managing your brand’s reputation to increase the perceived value of a brand or a product line to achieve its desired objectives or goals.

Many Colleges and universities offer Specialized Brand Management Courses and cover mentioned below aspects:

  • Analysis of the Market Trends
  • Principles of Brand Management
  • Market Research
  • Brand Research
  • Consumer Demand
  • Market Research
  • Brand Launch and USP
  • Advertisement and Marketing
  • Distribution, Packaging, and Marketing of a Brand
  • Brand Promotion

Luxury Brand Management

Luxury Brand Management mainly focuses on making the experience of a customer more memorable, and it is more inclined towards innovation and creativity. Luxury Brand Management, unlike Brand Management, doesn’t focus on brand awareness; it allows you to sell your product at whatsoever price you want to sell.

Luxury Brand management focuses on the placement of the product, which helps attract new customers towards luxury products and retain existing customers by maintaining good relations with them. 

Luxury Brand Management in India

Luxury Brand Management mainly focuses on making the experience of a customer more memorable, and it is more inclined towards innovation and creativity. These are some of the best Institutes offers Luxury Brand management Courses in India:

  • Indian Institute of Management, Ahmadabad
  • SP Jain School of Global Management, Mumbai
  • Mundra Institute of Communication and Advertising, Ahmadabad
  • Shaheed Sukhdev College of Business Studies, New Delhi
  • Luxury Connect Business School, Gurugram

MBA in Luxury Brand Management

MBA in Luxury Brand Management is a highly specialized course that allows you to understand and gain knowledge about luxury Brand Management and equip yourself with the ability to think strategically and to build a brand and maintain them.

Institutes Offering MBA in Luxury Brand Management:

  • Indian Institute of Management, Ahmadabad
  • SP Jain School of Global Management, Mumbai
  • Mundra Institute of Communication and Advertising, Ahmadabad
  • Shaheed Sukhdev College of Business Studies, New Delhi
  • Luxury Connect Business School, Gurugram

Luxury Brand Management Scope

People are moving towards the trend of buying luxury goods and living a luxurious life, which increases the demand for luxury goods. At the same time, it increases the demand for Manpower.

These are some of the jobs that a person can get if specialized in Luxury Brand Management: 

  • Luxury Brand Manager: Coordination with different departments of the brand, ensuring the smooth functioning
  • Fashion Good Product Manager
  • Fashion Retail Manager
  • Fashion PR Specialist
  • Marketing
  • Visual Merchandising Manager

Luxury Brand Management Canada

MBA in Luxury Brand Management is a highly specialized course that allows you to understand and gain knowledge about luxury Brand Management and equip yourself with the ability to think strategically and to build a brand and maintain them.

These are the best universities offering Luxury Brand Management in Canada:

  • University of Toronto
  • York University
  • George Brown University

Strategic Brand Management process

Strong Brand equity can only be achieved by thoughtful, imaginative, and strategic brand management of a product. Companies launching new products always make creative strategies and think innovatively to increase their brand and product success rate.   

Strategic Brand Management process:

  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 Management job description

“Brand Manager” plays a significant role in a company as glorious the job title feels doing the job is completely different. It brings a huge responsibility for the whole band on the head of a manager as he/she has to see all the aspects as well as to strategize.

These are the key responsibilities of a Brand Manager:

  • Protect the Brand.
  • Work in different departments within the company.
  • Coordinate several marketing agencies.
  • Make important decisions.
  • Focus on Customers.

Brand Management strategies

Strong Brand equity can only be achieved by thoughtful, imaginative, and strategic brand management of a product. Companies launching new products always make creative strategies and think innovatively to increase their brand and product success rate. 

  • Brand Equity
  • Brand Recognition
  • Brand Loyalty
  • Visual Elements
  • Brand Messaging
  • Social Media Accounts
  • Website

Brand Management process

Brand Management can be described as managing your brand’s reputation to increase the perceived value of a brand or a product line to achieve its desired objectives or goals. Brand management is creating awareness and loyalty towards your brand.

Process:

  • Identify and Establish Brand Positioning and Values
  • Plan and Implement Brand Marketing Program
  • Measure and interpret Brand performance
  • Grow and Sustain Brand Equity

Brand Management in Marketing

Brand Management is the process which comes under marketing where Brand Manager begins with the analysis on how a brand’s image is currently perceived in the market, which follows by the planning on how the brand should be perceived to achieve its desired objectives and finally follows by ensuring that the brand continues to be perceived as planned and to ensure that it will achieve its objectives.

Benefits of Brand Management in Marketing:

  • Brand awareness boosting
  • Allow you to charge as much as you want for products or services
  • Influence your customer’s purchase decisions
  • Customer loyalty Increases
  • Helps Increasing sales
  • Create happy customers

Brand Management Role

“Brand Manager” plays a significant role in a company as glorious the job title feels doing the job is completely different. It brings a huge responsibility for the whole brand on the head of a manager as he/she has to see all the aspects as well as to strategize.

These are the key responsibilities of a Brand Manager:

  • Protect the Brand.
  • Work in different departments within the company.
  • Coordinate several marketing agencies.
  • Make important decisions.
  • Focus on Customers.

Importance of Brand Management

If done right, brand management can set the differentiation in the company, increase brand equity, help the brand grow and maintain the customer relationship, and help the company get to new heights.

Some of the points which shows the importance of Brand Management:

  • Reducing the risks in product decisions
  • Branding gets recognition
  • Branding increases business value
  • Branding generates new customers
  • Improves employee satisfaction
  • Creates trust within the marketplace
  • Branding support advertising
  • Source of Competitive Advantage

Brand Management Online Courses

Brand Management can be described as managing your brand’s reputation to increase the perceived value of a brand or a product line to achieve its desired objectives or goals. Brand management is creating awareness and loyalty towards your brand.

Some of the online courses on Coursera:

  • Brand Management: Aligning Business, Brand and Behaviour
  • Branding: The Creative Journey
  • Brand and Product Management
  • Management of Fashion and Luxury Companies
  • An Introduction to Consumer Neuroscience & Neuromarketing

Top Brand Management colleges in India

Brand Management is the process which comes under marketing where Brand Manager begins with the analysis on how a brand’s image is currently perceived in the market, which follows by the planning on how the brand should be perceived to achieve its desired objectives and finally follows by ensuring that the brand continues to be perceived as planned and to ensure that it will achieve its objectives.

These are some of the top Institutes offering Brand Management Courses:

  • Indian Institute of Management, Ahmadabad, Ranchi, etc
  • Pearl Academy, New Delhi
  • Mundra Institute of Communication and Advertising, Ahmadabad
  • Lucknow Institute of Technology

Brand Management v/s Product Management

A brand manager usually works on the promotion of the product and boosting of the sales, primarily they advertise the new product which is of an existing brand or a new brand.

A product manager researches the markets and design and make a new product. They basically build and design the products as per the wants of the customer or the feature they are interested in.

Brand ManagementProject Management
Create a budget for the marketing campaign.To create new products
Promotions to increase product sales and build the popularity of the brandCreating product roadmaps that outline the budget, deadlines, and goals
Ensuring consistency to the brand, its products, and its advertising.Solving any problems that arise with the product during development to ensure deadlines are still met
Analyzing the product sales in retail locations to determine the strength of the brandOffer demonstrations of the product in retail locations

FAQ

What is the brand management process?

Ans. Brand management is a discipline of commerce that deals with the process of managing the overall development and growth of a brand. It is a subtle art of creating, promoting, and improvising the brand.

Why is brand management important?

Ans. Brand management will make your brand profitable not only for the current time but also ensures the best returns shortly. The importance of brand management turns out to be an integral part of its existence in the market. Once the brand is established, it must consistently continue to serve the customers in the best possible way. 

What are the 4 branding strategies?

Ans. The four brand strategies are:
1. Brand extension
2. Line extension
3. Fight brand strategy
4. New brand strategy

What is the average salary of a brand manager?

Ans. If a Brand Manager has an experience of 1-4 years then he/she could earn upto 10-12 Lakh p.a. If he/she has an experience of 5-10 years then the average salary could go upto 30-35 lakh p.a.

What is the difference between a brand manager and a marketing manager?

Ans. Brand manager and marketing manager are both different things, Brand manager’s main focus is to see how the company is working and its product is being recognized by the customers. While the Marketing manager’s role is to see the customer show interest in the companies product.

/ Management

Search Posts

About the Author

Rachit believes in the power of education and has studied from the top institutes of IIIT Allahabad, IIM Calcutta, and Francois Rabelias in France. He has worked as Software Developer with Microsoft and Adobe. Post his MBA, he worked with the world’s # 1 consulting firm, The Boston Consulting Group across multiple geographies US, South-East Asia and Europe.

Share the Post

Comments

No comment yet.

Leave a Reply

Your email address will not be published. Required fields are marked *