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Brand-Management-Strategies-----106 Brand-Management-Strategies-----106 Document Transcript

  • Brand Management Strategiessocial media service
  • Before we move on to strategies let us understand why brands arecreated The American Management Association defines Brand as a“Name, term, design, symbol or any other feature that identifiesone seller’s goods or service as distinct from those of sellers― Branding makes a product stand out from competitors to be thechosen one Brand kindles customer expectations and buildstrust and confidence when expectations are met consistentlyBrand increases customer awareness of the business and itsproducts and services, by engaging with customers and creating aconnection
  • Branded products sell at a premium compared to equally goodor better products because of their image Brands enablecompanies to move into new market sectors effortlessly Havingestablished the intrinsic value of a branded product and theenhancement in its market value it is necessary to sustain thiscompetitive advantage This is where brand management comesinto play Brand Management is the application of marketingtechniques to a specific product or product line to increase itsperceived value to the customer and thereby increase brandfranchise and brand equity
  • Brand is seen as an implied promise that the quality level will bemaintained and handed down through future purchase of the product To this end brand management devises strategies to achievedesired mileage for the product and sustain its growth throughdistinct advantage over competitors Brand ManagementStrategies that may be adopted to be one-up on competitors arelisted below- Establish and Maintain the Brand through enhancedproduct characteristics, advertising, sales promotion, packaging andother marketing techniques The brand may traverse other productlines or geographical regions Focus should also be to identifyprospective products and services to which the brand should beextended
  • Ensure consistency between brand strategy and corporate goalsto reflect positively on the company image Promoting a dentalcleanser with medical practitioner’s approval enhances brandand corporate profiles Select Profitable and Innovative Partnersto expand further ventures without having to pump in excessiveadditional resources on new products and uncovered areas Aninnovative packaging company with similar corporate ideology cangive wings to the product and brand together ObservingQuality Control and Reporting Formats will ensure continuity inCustomer Expectation-Realisation Gap and boost confidence andpatronage to the Company
  • An eye for detail as displayed on a product and a feed-back in someform can hold an audience captive and wedded to our brand socialmedia service Proactive approach towards products and servicesoffered with a view to keep the features updated and technologicalchanges incorporated is necessary for continued market presenceand brand stability Brand Management Strategies are requiredto be continually adopted and updated to safeguard against brandobsolescence It is common inference that in the absence of periodicinsertions in newspapers even popular leaders are classified eithersick or pushed out of reckoning by enterprising youngstersToday we have a class of people who are paraded as BrandAmbassadors and there is not a celebrity who has not taken note ofthis image booster
  • It is also a Win-Win situation for both advertiser and the star who arebenefited to rake in millions through a simple coffee-breakComing to the ban on advertising of tobacco products there is afamous ad that says- “Smoking kills cigarette brands ―Another pointer to what Brands really mean is spelt out by WalterLandor who says- “Products are made in the factory, but Brandsare created in the mind ―
  • social media service