Skip to main content

Principles of Brand Management

Principles of Brand Management


1. Have a flexible approach: 

The market dynamics are changing at a very fast pace in today’s time due to digital marketing and the high usage and relevance of social media. Hence, it is necessary to have a futuristic and flexible the approach during the entire process to stay significant with the current times.

2. The scope of Brand Management: There is a difference between the concepts of Brand Management and marketing but both works as a supporting factor for each other. As discussed earlier, Brand Management is not a onetime thing but a continuous and consistent practice for the business to curate a distinct identity in the market.

3. Connect at the emotional level: There are many brands in the market but seldom are able to have an emotional connection with the target market. The crux lies in the fact that the strategies and tactics of marketing should be devised keeping the needs, requirements, and problems of the customer in the mind in order to create an emotional and psychological relationship.

4. You need to Define the Brand: 

It is very necessary for the marketers and managers to know and understand the brand in the most efficient and intricate manner by laying down its objectives, vision, mission, ethos, and fundamentals by having open discussions with the promoters and all the key members associated with the brand.

5. Maintain Brand Consistency: 

Brand creation is a onetime process but managing and making it sustain in the market amidst the various business cycles, competition, and dealing with the evolving customer preferences is a continuous process that requires consistent effort and approach.


 


Comments

Post a Comment

Popular posts from this blog

Mintzberg’s Modes of Strategic Decision-Making

  Mintzberg’s Modes of Strategic Decision-Making 1. Entrepreneurial Mode: Strategy is made by one powerful individual who has entrepreneurial competencies like innovation and risk-taking. The focus is on opportunities. Problems are secondary. Generally, the founder is the entrepreneur, and the strategy is guided by his or her own vision of direction and is exemplified by bold decisions. 2. Adaptive Mode: Sometimes referred to as “muddling through,” this decision-making model is characterized by reactive solutions to existing problems, rather than a proactive search for new opportunities. Much bargaining goes on concerning priorities of objectives. The strategy is fragmented and is developed to move the corporation forward incrementally. 3. Planning Mode: This decision-making model involves the systematic gathering of appropriate information for situation analysis, the generation of feasible alternative strategies, and the rational selection of the most appropriate strategy. It incl...
Post a Comment
Read more

International Sales Management

Int ernational Sales Management Sales management is the process of developing a sales force, coordinating sales operations, and implementing sales techniques that allow a business to consistently hit, and even surpass, its sales targets. If your business brings in any revenue at all, a sales management strategy is an absolute must. When it comes to boosting sales performance for any size of the operation, no matter the industry, the secret to success is always precise sales management processes. Besides helping your company reach its sales objectives, the sales management process allows you to stay in tune with your industry as it grows and can be the difference between surviving and flourishing in an increasingly competitive marketplace. The past decade has seen a number of changes in global situations. Chief among these is the opening up of Russia, India, and Eastern European countries and the emergence of China as a major market. A sale is an important element of marketing. ...
Post a Comment
Read more

What Are Best Practices

  What Are Best Practices?             Best practices are a set of guidelines, ethics, or ideas that represent the most efficient or prudent course of action, in a given business situation. Best practices may be established by authorities, such as regulators or governing bodies, or they may be internally decreed by a company's management team.             “A best practice is a method or technique that has been generally accepted as superior to any alternatives because it produces results that are superior to those achieved by other means, or because it has become a standard way of doing things, e.g., a standard way of complying with legal or ethical requirements. Best practices are used to maintain quality as an alternative to mandatory legislated standards and can be based on self-assessment or benchmarking. A best practice is a feature of accredited management standards such as ISO 9000 and IS...
Post a Comment
Read more