The different methods used to increase the perceived value of a service or product is defined as brand management in marketing.( Limet.al,2020) It is a career onto itself and every year thousands of students opt courses that teach them brand management in marketing. To certain extent globalization and the invention of the internet have been greatly responsible for the wide popularity of this subject among fresh marketing students. In this article we are going to briefly discuss what is a brand strategy and why and how is brand management essential?
Key Reasons Why Brand Management Is Very Important
Marketing is a field where new products and services are launching every day. The only way to survive and make a mark in the competitive world is to develop a brand that is not just going to give the product a positive perception increasing its shelf life and popularity among the audience but will also make the business sustainable. (Wiedmann et.al, 2011) In the figure mentioned below the major points why brand management is important for successful marketing have been listed
Major Reasons Why Brand Management is Essential
Reasons Why Brand Management Is Important
- Brands Help Recognize The Product Or Service-
A positive influence is important for any business to grow. Brand management helps the product or services reach the audience and tell them who or what we are as a product or service. It gives a clear picture of what the product or service has to offer the audience and also states its importance. This in turn directly affects the sales. Therefore it can be said that Brand management is important because it helps people identify the product or service in the true sense and gives a clear perception as to what should be expected out of it also highlighting its importance to the general masses. With so many products and services launching each year it is very important for the general audience to know what the product is and who is launching it. The basic question “Who we are” typically answers three specific questions-
First, what are the three words that describe an organization based on its behavior?
Second, who are the existing competitors, and Third, Any three stories that can be shared with the audience which describes the existence of the brand. Students undergoing marketing are often given to writing assignments on identifying a brand through stories. They can seek instant essay help from SourceEssay to complete these assignments.
- Brand Management Helps Identify The Audience –
The second major reason why brand management is essential is that it helps identify the audience. For any brand to be successful it is vital that the product or service reaches the right audience. This is where brand management comes to play. It is also equally important to communicate with your audience on a regular basis to breed familiarity with the product or service that is being promoted using marketing techniques. Therefore there are two vital questions to ask yourself while identifying the audience and representing the product or service in front of them. First, who are the core audience for your product, and second, is the audience being communicated on a regular basis? Students working on assignments on brand management can seek help from online assignment writer for a better understanding of the audience.
- Brand Management Helps To Build A Sense Of Loyalty Among The Employees–
The employees are the people who directly deal with the customers and also help in promoting the brand. Proper brand management can build a sense of trust and belong in the hearts of the manpower working for the brand resulting in a loyal and committed workforce. Employees with a positive outlook towards the brand help people understand the value and importance of the product or service.
In simple words, it can be said that Employees with a positive outlook towards the brand because of effective brand management help in promoting the product or service through word of mouth that in turn increases the credibility of the organization.
- Brand Management Helps In Safeguarding The Brand–
There are various strategies used in brand management that not just promote the brand and helps it reach the right audience but also safeguards the reputation of the brand. Among the many strategies implemented to guard the reputation of the brand one of the most common strategies is digital asset management. This strategy is used to distribute the assets of the brand using a central hub. It helps in monitoring the quality and consistency of the brand and also improves the visibility of the brand. It is important to understand that when a product or service is created into a brand anything related to it be it logos, photos, videos or sales collateral has a value attached to it which in case misused can hamper the reputation of the product.
Therefore it is essential to safeguard them from any kind of misuse. With the help of brand management a digital gateway can be created for the brand where any kind of intrusion can be monitored, positive meaningful stories can be shared to influence the audience, brand management can also help audience share their personal experience, it can also help in saving the guidelines by creating on-demand access to information, and further, it can also help in tracking the assets that are being used online by people giving the companies detail insights on who is using the products and service, where it is being used and when was it accessed. These special features help in safeguarding the reputation of the brand and also take measures in case of any misconduct.
- Brand Management Also Helps To Measure The Brand’s Perception-
Brand management helps to build a positive perception (De Chernatonyand L, 1999) In the minds of its customers and also in the minds of people dealing with it. It further helps to measure the perception and take measures to maintain a positive impact. Creating a brand and promoting it is not all for the success of a product or service. It is important that the perception of the brand in the minds of people remain positive. To do this there are certain questions that need to be answered.
First, does the audience understand who we are and what product or service we offer?
Second, Can the market be described clearly where the product or service is being launched?
Third, would the audience recommend the product or service to others? And finally, is the audience aware of the core values of the brand and know where to find the guidelines, tools, and templates?
Once the answers to all the above questions are found it becomes easier the brand perception. Students can take help from SourceEssay essay typer to have a better understanding of the basic concept of brand management in case they still have doubts.
Therefore it can be said that the clear the concept of a product or service is to the audience the better it is for its brand value. The importance of brand management is listed in the following points- First; Brands help recognize the Product or Service. Second, Brand Management Helps Identify the Audience. Third, Brand Management helps to build a sense of loyalty among the employees. Fourth, Brand Management helps in safeguarding the brand. Fifth, Brand management helps to create a positive perception and measure the brand’s perception. Students who face difficulty in understanding the concept of brand management can take the help of instant assignment writers from SourceEssay to clear their doubts and submit high quality flawless and non-plagiarized assignments on brand management.
Lim, W. M., Jee, T. W., & De Run, E. C. (2020). Strategic brand management for higher education institutions with graduate degree programs: empirical insights from the higher education marketing mix. Journal of Strategic Marketing, 28(3), 225-245.
Wiedmann, K. P., Hennigs, N., Schmidt, S., &Wuestefeld, T. (2011). The importance of brand heritage as a key performance driver in marketing management. Journal of Brand Management, 19(3), 182-194.
De Chernatony, L. (1999). Brand management through narrowing the gap between brand identity and brand reputation. Journal of marketing management, 15(1-3), 157-179.