Brand managers perform various functions depending on factors such as industry, product, and market conditions. They develop brand guidelines and ensure marketing campaigns convey the desired message about the product and company. Brand managers also conduct market research, analyze competition and market trends, develop sales forecasts and promotional strategies, and ensure compliance with legal requirements.
A distinguishing symbol, mark, logo, name, word, sentence or a combination of these items that companies use to distinguish their product from others in the market. Once a brand has created positive sentiment among its target audience, the firm is said to have built brand equity. Some examples of firms with brand equity - possessing very recognizable brands of products - are Microsoft, Coca-Cola, Ferrari, Sony, The Gap and Nokia.
A distinguishing symbol, mark, logo, name, word, sentence or a combination of these items that companies use to distinguish their product from others in the market. Once a brand has created positive sentiment among its target audience, the firm is said to have built brand equity. Some examples of firms with brand equity - possessing very recognizable brands of products - are Microsoft, Coca-Cola, Ferrari, Sony, The Gap and Nokia.
“If this business were split up, I would give you the land and bricks and mortar, and I would take the brands and trademarks, and I would fare better than you”. This statement was made by John Stuart, Chairman of Quaker. It revealed the importance that some business executives attached to the concept of brand equity even when many had not grasp the vision. Tangible assets ruled for much of the 20th century. Business executives knew brands were there but their value was not recognized by many. Then the 1980s arrived, and by this time the value of brands was recognized not only by top corporate officials but also by consumers. This brand equity is the measurable value derived from marketing and other strategic management efforts attributable to a brand. This measureable value enables customers in making buying decisions, builds customer loyalty, builds market share, protects market share, helps command higher prices and assist in business expansion. But there is also a flip side, a neglected brand erodes value. The problem gets more acute when it comes to understanding what makes a brand valuable than others: how should one measure the strength of a brand? What limited numbers of indicators should one use to evaluate what is commonly called brand equity?
Deviprasad Goenka Management college of Media Studies
http://www.dgmcms.org.in/
Subject:BRAND BUILDING
Lesson : Brand startegies
Faculty Name: Vishal Desai
“If this business were split up, I would give you the land and bricks and mortar, and I would take the brands and trademarks, and I would fare better than you”. This statement was made by John Stuart, Chairman of Quaker. It revealed the importance that some business executives attached to the concept of brand equity even when many had not grasp the vision. Tangible assets ruled for much of the 20th century. Business executives knew brands were there but their value was not recognized by many. Then the 1980s arrived, and by this time the value of brands was recognized not only by top corporate officials but also by consumers. This brand equity is the measurable value derived from marketing and other strategic management efforts attributable to a brand. This measureable value enables customers in making buying decisions, builds customer loyalty, builds market share, protects market share, helps command higher prices and assist in business expansion. But there is also a flip side, a neglected brand erodes value. The problem gets more acute when it comes to understanding what makes a brand valuable than others: how should one measure the strength of a brand? What limited numbers of indicators should one use to evaluate what is commonly called brand equity?
Deviprasad Goenka Management college of Media Studies
http://www.dgmcms.org.in/
Subject:BRAND BUILDING
Lesson : Brand startegies
Faculty Name: Vishal Desai
Here is the complete report of how to make brand and how to make strong brands in the market .
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and if you are in search of presentation about same topic then you can take it from my collection.
A PROJECT REPORT
ON
“SIGNIFICANCE OF BRAND:
JAGUAR”
PREPARED BY:
JITENDRA RAMESH SANGLE
PROJECT GUIDE:
PROF. RAJEEV DEO
BRIHAN MAHARASHTRA COLLEGE OF COMMERCE, PUNE- 04
(A PROJECT REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF BACHELOR OF BUSINESS ADMINISTRATION DEGREE COURSE BY UNIVERSITY OF PUNE)
A brand platform, or corporate image, is the set of associations that customers make with your company. Some of these associations may be quite obvious and strong, like the brand Volvo is associated with safety. In other cases, the associations can be weak; BMW, for instance, may be associated with safety but only in a very weak manner. The possible associations that a brand may want to have actually comes from many sources. For example, it may come from the benefits the customers in a target market may care the most about. But it can also come from various descriptors or the self-image of the target audience. It can also come from a company’s history or core competency.
This series constitutes co-branding and corporate branding, where student will study how the brand partnership and corporate branding can result in making an image in the mind of customers.
Discussion 1This week of assigned reading of the course market.docxcharlieppalmer35273
Discussion 1
This week of assigned reading of the course marketing management mainly focused on brands. It effectively discussed the marketing framework that includes key topics such as 5Cs, STP, and 4Ps. I found these concepts presented in this week of reading interest because they provide an effective focus on the brand of a firm, understand the brand image of a firm and undertake significant actions to control the risks and promote the brand recognition of a firm. It offers effective focus into the customers of a firm, company, understands the context, collaborations, and competitors of a firm (Iacobucci, 2016). It also offers to focus on the segmentation of customers, targeting and positioning, product price, and place and develop effective strategies to promote the products and enhance the brand reputation of a firm and achieve good results. It also tells the importance of a brand for the company and the different types of functions the brands serve and associations and the various types of brand strategies. It helps to gain significant knowledge into various brands and develop effective strategies to promote the brand and increase the sales of goods and services of a firm effectively and assess the quality of a brand effectively. It is noticed that the brand is a portfolio of qualities that are linked with the name of a brand. It invokes the images of the brand and enables the company to promote the brand and control the image of a brand in the marketplace. It also helps to shape a product and package, make the color and symbol of the brand logo of a firm, and reflect the products and service offerings of a firm effectively. The marketer selects the name of a brand to increase the benefits and increase communication with the customers. The brands of a firm can be local, global, co branded. It offered effective insight into the personalities of a brand, experiences of a brand affective, behavioral and intellectual, communities and strategies, and extensions. These help to gain effective knowledge into brand strategies and develop effective tactics and promote brand well.
Based on the observation of methodology following by Inter brand to evaluate the brands offering by it is effective. It is following forward methodology and offering both the local and global brands to serve customers well (Interbrand, 2020). I will improve the brand of a firm by identifying the key weaknesses in the brand, identifying personalities, customer views and services, and developing effective brand strategies. One of my favorite brands is Apple because the strategies following it are effective and reflect the products and services of it and provides benefits for the customer. The brand I hate is Redmi. The main reason I hate this brand is that methodology and strategies followed by this brand are not helpful for the customers and quality is not good.
References:
Iacobucci, D. (2016). Marketing Management. Cengage Learning.
Discussion 2
In today’s busines.
Discussion 1This week of assigned reading of the course market.docx
Brand
1. Brand managers perform a wide variety of functions depending upon many factors such as their particular ind ry, nature of the product and current market conditions. Brands often represent miniature business within the umbrella company. Brand managers perform duties similar to those they would engage in if they owned their own They usually report to senior management and deliver documentation reporting on current conditions and future projections.<br />Provide Brand Guidelines<br />Consumers identify closely with brand names, and marketing slogans and other materials greatly influence whether this identification is positive or negative. A brand manager must delineate concise guidelines for creative staff to follow when designing marketing campaigns and advertising materials. The manager must make certain that the implications of these campaigns deliver the desired message about the product and company in general. For some products, such as financial securities or real estate, legal,compliance may be of importance. Brand managers stay in close contact with the company legal staff in this case to make certain that language used in campaigns and slogans complies with the law.<br />District Manager<br />I want to do this! What's This? <br />1.Fotolia.comquot;
> <br />Brand managers perform varied functions depending on the industry.<br />Brand managers perform a wide variety of functions depending upon many factors such as their particular industry, nature of the product and current market conditions. Brands often represent those they would engage in if they owned their own business. They usually report to senior management and deliver documentation reporting on current conditions and future projections. <br />Market Research<br />The brand manager will conduct extensive market research with the help of his team by analyzing studies of consumer behavior relative to competitor products. Consumer focus groups also play a key role in a brand manager's duties as they lend insight into consumers' initial impressions of new concepts or designs. A brand manager will organize and manage several focus groups on brand concepts and marketing campaigns. Brand managers must closely monitor the activities of competitor brands through a variety of platforms. Finally, he must compile this data, study it and formulate a strategy to implement lessons learned, make changes to concepts and execute the final plan. <br /> <br />Analyze and Forecast<br /> Brand managers analyze current ma rket conditions and competitor activities to produce sales forecasts, profitability reports and market share estimates. She then delivers these reports to senior executives along with budget needs for required sales force, advertising and promotional campaigns. Senior management will also need to see a report of sales goals for the sales force and how the manage will use the sales budget to reach these goals. <br />Promotional Campaign Structuring<br />Brand managers work closely with creative and marketing departments to come up with promotional campaigns during certain times of year. He may decide to discount products associated with holidays or seasons when the time rolls around in the calendar year. Giving price reductions during promotions to boost sales will affect profitability for the duration of the promotion. Brand managers are responsible for profit and loss in their business center and must analyze market factors to determine what promotional discount will increase market share without sacrificing too much profit.<br />Brand management – It is the application of marketing techniques to a specific product or a product line to increase the product's perceived value to the customer and thereby increase brand franchise and . 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 competing products 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.<br />A good brand name should be legally protectable. It is easy to pronounce and easy to remember, recognize. It should attract attention . As well as it should suggest the company or product image .It should distinguish the product's positioning relative to the competition . <br />A Premium brand typically costs more than other products. <br />An Economy brand is a brand targeted to a high price elasticity market segment A Fighting brand is a brand created specificlly to counter a competitive threat. When a company's name is used as a product brand name, this is referred to as corporate branding . When one brand name is used for several related products, this is referred to as family branding. When all a company's products are given different brand names, this is referred to as individual branding . When a company uses the brand equity associated with an existing brand name to introduce a new product or product line, this is referred to as brand leveraging. When large retailers buy products in bulk from manufacturers and put their own brand name on them, this is calledprivate branding . Private brands can be differentiated from manufacturers' brands (also referred to as national brands). When two or more brands work together to market their products, this is referred to as co-branding. When a company sells the rights to use a brand name to another company for use on a non-competing product or in another geographical area, this is referred to as brand licensing. <br />Brand rationalization refers to reducing the number of brands marketed by a company. Companies tend to create more brands and product variations within a brand than economics of the scale . Suggest they should. Frequently they will create a specific product or brand for each market that they target. They also do this to gain precious retail shelf space ( and also reduce the amount of shelf space allocated to competing brands). But this can be a very inefficient strategy so a company may decide to rationalize their portfolio of brands from time to time. They may also decide to rationalize their brand portfolio as part of an overall corporate downsizing. <br />Problems - Many prominent fast moving consumer goods firms are reviewing the organization of the marketing functions. Research undertaken in Greece has looked at the difficulties faced by brand managers, the key environmental variables that affect the brand management system and the brand managers' views on the future of marketing. It is clear that brand managers will continue to serve multiple brand companies, even though their role will change in order to meet the new demands of the dynamic climate. The most significant challenge facing brand managers will be the development of real knowledge of their market.<br /> <br />Importance of brand Name : The foundation of any business is built on having the correct identity. This should show a level of interest and charm to clients and will make it easier to to stand out and to be known among other rivals. One of the primary requirements for any company is to have a brand corporate identity. It's imperative for you to stand out from the crowd while creating attractiveness to those that are considering your very own services or products with great presentation ideas. As soon as you start to create a brand corporate identity, you'll need to give attention to various applications to your own business. The first part of this is the logo that you have to identify your own business. You would discover that each business has a primary colour that they use to attract the crowds. This is followed by graphics or a primary sign that could help to identify the company. The identity that's used through graphics is meant especially to attract customers and to allow customers to think of a business through the visual identity that they have. When you present your very own logo and main graphic identity, prospects would be able to identify you quickly.The idea of creating the correct brand corporate identity is then followed by the other areas of identification which you can create. Having visual aids that permit clients to identify your own works to help you establish a sense of recognition. These can be used in relation to your own logo and principal sign for extra promotions and advertisements or to improve the look of your very own business. The visible aids that you use will help consumers to identify a mood with your own main business and would give you completely different points that relate directly to the client. The general brand corporate identity that you would use for your business shouldn't just create a level of magnetism for clients that could easily be remembered. You'll want to combine this with a steady set of visuals that help to determine completely different merchandise and services. With this aspect of your business, you'll need to present a sense of character and personality, in addition to distinctive ideas that allow you to stand out from others. As you do this, you'll recognize that there would be particular perceptions related to the quality of your company as well as the services and goods that you offer. If you wish to succeed in a business, then there's additionally the need to create a brand corporate identity. This lets you use visualization on numerous levels to help customers remember who you are and to identify with different personalities and attitudes of your own company. By creating particular looks, you would easily be able to reach completely different people while creating a distinctive personality to your own business. <br />