It is the process of managing your brand's reputation and improving your audience's perception of your brand in a way that promotes equity and loyalty. Branding is the process of establishing your brand.
Brand management is overseeing and maintaining it.
Purpose of Brand Management
1. Distinguish a company's products and services from those of its competitors.
2. Convince the buyer for the product
3. Deliver a brand message in full
4. Build customer loyalty
5. Connect emotionally with customers
Why is brand management critical?
Brand management is a branding component that involves maintaining and improving products, services, and brand image. Brand management, when appropriately practiced, benefits from cost, increases customer loyalty and builds meaningful brand awareness. It also strengthens the customer's relationship with the purchasing process.
Strategic Brand Management Process
1. Identifying and establishing brand positioning and values
- (Pre-launch) Brand Audit
- Points of parity and points of difference
- Competitive reference frame
- Brand identity and theme
- Internal brand support
2. Planning and implementing brand marketing programs
- Brand elements
- Secondary associations
- Brand marketing activities and programs
3. Measuring and interpreting brand performance
- Brand value chain
- Brand tracking
- Brand equity management system
4. Growing and sustaining brand equity
- Brand-product matrix
- Brand reinforcement and revitalization
- Brand portfolios and hierarchies
- Brand expansion
5. Brand Management Courses
We've put together some well-known courses below:
- Measuring brand engagement and emotional connection through HubSpot Academy
- Fundamentals of Design: Building guidelines and consistency through HubSpot Academy
- Brand Management: Business, Brand and Behavior Alignment by Correa
- AdX through strategic brand management
- Brand Management: Build a successful, lasting brand through Audi
A well-organized brand is a success
Brand management, as helpful as it sounds, affects your bottom line. Strong brands are not built solely on marketing or product but are consistent with their customers' brand experience.
Some businesses overlook the impact of consistent, intelligent brand experiences. Brand management can help you provide that for your followers, customers, and brand advocates.
Types of Brands
Individual Brands
The traditional type of brand is a solid, individual product, such as a car or beverage. It can be precise, such as the Tissue Clinics brand, or cover many products. Product brands can also be associated with various offerings, such as Mercedes S-Class cars or all types of Colgate toothpaste.
Service Brands
It is a brand that develops as companies move from manufacturing products to providing complete solutions and incredible services. They are characterized by the need to maintain advanced service delivery.
Organization Brands
The organization's brands are companies and other organizations that provide products and services. Mercedes and the US Senate each have strong organizational brands, and each has its characteristics that make up its brand. Organizations can also be closely linked to an individual's brand. For example, the US Democratic Party is closely associated with Bill and Hillary Clinton, and Barack Obama.
Personal Brands
A person can be considered a brand. It may consist of an individual, as in the case of Oprah Winfrey or McGuire. Or it could be a few people where the branding is associated with different personalities. With the invention of the world wide web and social media, the trend of personal branding offers tools and techniques for practically anyone to build a brand around them.
Group Brands
Group branding occurs when there is a small group of branded entities with overlapping, interconnected brand equity. For example, the OWN Group brand of Opera Winfrey Network and the brand of its famous members (Opera and its team) are closely related.
Event Brands
Events can become a brand as they strive to deliver a consistent experience that attracts customer loyalty. Examples include the TED series at conferences. Music festivals such as Kochila or SXSW; Sports programs such as the Olympics or NASCAR; And the power of these brands depends on the experience of the people attending the event. Product, service, and other types of brand-savvy brand managers recognize event brands' power and strive to link their brands to the event's brand through sponsorship. Event sponsorship is now a thriving big business.
Geographic Place Brands
Many places or regions of the world mark themselves to raise awareness of the essential qualities they offer. Branded locations can range from countries and states to cities, streets, and even buildings. People who rule or represent these geographies work hard to grow the brand. Geographic branding is often used to attract trade and economic investment, tourism, new residents, etc.
Private-Label Brands
Private label brands, also called store brands, are among the retailers with a powerful identity. Private labels can indicate superior, better, "select" quality or lower cost for a quality product.
E-Brands
E-brands exist only in the virtual world. Many e-brands, such as Amazon.com, focus on providing online frontends for physical products or services. E-brands provide information and unbeatable services to benefit other users. A common dominator between e-brands, in general, is to focus on providing valuable service or experience in a virtual environment.
