Brand management and its implementation
- Creating a strong brand
- Brand extension
- Adapting branding to a product's lifecycle
- Phase 1: The introductory period
- Phase 2: The growth period
- Phase 3: The maturity period
- Managing a portfolio of brands
- The difficulties faced by brands
- Managing brand over a period of time
- Learning cycle
- Building a strong brand identity
Although brand management is a relatively new concept, it has developed into a marketing discipline in its own right.
The position of brand management was introduced into the organization structure in the 1990's when the concept of brand equity gave birth to new financial and commercial issues. The role of a brand manager is a strategic one. He is entrusted with the task of ensuring that the brand image projected by the organization is consistent with the brand values and the products that it creates and distributes.
This document discusses the challenges that arise when establishing a brand image for a new business. In the first part, the document will explore how a brand may gain strength and manage a portfolio of brands. In the second part, the document will review the two main factors of brand management and the strategies related to it.
[...] Thus the two major issues faced by brand managers are: managing the brand over a certain period time and the evolution of its identity. Managing brand over a period of time The first challenge is the time that needs to be invested in order to respond to quickly changing market requirements. The legitimacy and longevity of a brand is ensured by the adoption of two strategies. They are: innovation and adaptability 1. Innovation Innovation involves adopting a Fordist logic whereby the idea of a homogeneous consumer base is taken into consideration and strategy is evolved keeping in mind the requirements of such a consumer base. [...]
[...] It must nevertheless follow a learning cycle: Learning cycle In order to be effective, marketing strategy must operate in conjunction with creativity and experimentation. These two concepts are often integral to the personality of the founder of the brand. Innovation can take place at different levels Products Business model Marketing mix Advertising and communication 2. Building a strong brand identity Brand identity is affirmed through its name, logo and advertising and all these elements are constantly adapting to an organization's values and environment. [...]