Brand Management as Career

Ranjan K Baruah *

Brand has become a common word for many in the metros and urban areas. It has been a word for people who are into shopping and concerned about products. Brands not necessary relate to only costly things but it may be also applicable in all spheres including agriculture and its product.

It is a name, term, symbol, design or a combination of all these intended to identify a product or service of a seller or a group of sellers. The popularity of a company greatly depends upon the brand. It is an identity of the company and/or their products in the market. A successful brand can only be created through an efficient brand management system.

Branding is a set of marketing and communication methods that help to distinguish a company from competitors and create a lasting impression in the minds of customers. The key components that form a brand’s toolbox include a brand’s identity, brand communication (such as by logos and trademarks), brand awareness, brand loyalty, and various branding (brand management) strategies. Brand equity is the measurable totality of a brand’s worth and is validated by assessing the effectiveness of these branding components.

Brands have been used to set products apart for a long time, and they have taken many different forms. For example, the oldest known generic brand still used today is an herbal paste from India called Chyawanprash. In the 13th century, Italians began putting watermarks on their paper as a form of branding. There are discrepancies on which company holds the first trademark: both Bass & Company, a British brewery, and Tate & Lyle, a syrup company, make this claim.

In marketing, brand management is the analysis and planning on how that brand is perceived in the market. Developing a good relationship with the target market is essential for brand management. Tangible elements of brand management include the product itself; look, price, the packaging, etc. The intangible elements are the experience that the consumer has had with the brand, and also the relationship that they have with that brand. A brand manager would oversee all of these things.

Brand management is a function of marketing that uses special techniques in order to increase the perceived value of a product . Based on the aims of the established marketing strategy, brand management enables the price of products to grow and builds loyal customers through positive associations and images or a strong awareness of the brand.

Brand management is the process of identifying the core value of a particular brand and reflecting the core value among the targeted customers. In modern terms, brand could be corporate, product, service, or person. Brand management build brand credibility and credible brands only can build brand loyalty, bounce back from circumstantial crisis, and can benefit from price-sensitive customers. We shall publish more about this topic in next edition.

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