Importance Of Brand Management

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Recommended: Contemporary brand management

In almost every industry, brand as a representative symbol that is known by customers to classify various product characteristics in life or business, and the use of the corresponding product that the customers need especially when the brand loyalty comes into the customers’ mind. However, a few people really understand the meaning of a ‘brand’. A definition of a brand referred by Feldwick, which can be a collection of perceptions in the mind of a customer. In other words, if a brand is a collection of perceptions, as such it could be said logically that brand management is perception management. Brands can be seemed as the sum total of relationships among stakeholders, and also is the total personality of an organization (firm, agency charity). …show more content…

Attitude strength can be built by experience with a product or service. The consumer’s awareness and associations lead to perceived quality and brand loyalty (Keller, 1993). The purpose of brand management is to establish a strong brand in the relative industry. To further understand the role that the brand management plays in the whole management system, it is vital to know the relationship between brand management and the firm’s success. Hence this paper has four objectives involves in the relationship between brand management and the firm’s success through two large-sized enterprises, LVMH and L’Oreal. The objectives are following:

1. The background and definition of brand management.
2. The successful brands toward they firm’s brand management in large-sized enterprises (LVMH and L’Oreal).
3. How these brands to be successful through the brand management and strategic approach in large-sized enterprises (LVMH and L’Oreal).
4. Brand management plays a major role in the development of a firm, and there is a positive relationship between brand management and the firm’s success.

This paper aims to use the literature review as the methodology to surround the operation of the brand management, combine the objectives that this paper has set and then to critical analyze the result and discuses

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