Branding And Management: The Art Of Brand Management

Brand Management

The Brand-

Branding has been around for centuries as means to distinguish the goods of one producer from those of another. Its significance can be understood by the fact that corporations spend millions on just designing and implementing brand strategies. Firms and organizations have come to the realization that one of their most valuable assets is the brand name associated with their products or services. The American Marketing Association (AMA) defines brand as a “name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” So technically it means that whenever a marketer creates a new symbol,

Brand Management

Brand management is the art of creating a brand and maintaining it. It is all about developing a promise to the consumer, materializing that promise, and maintaining the same for a product, a group of products, or services. Maintaining a good relationship with the target market is the key behind brand management.

It helps to manage the tangible and intangible characteristics of a brand. A competent Brand Management includes building brand identity, launching the brand, and maintaining the brand position in the market. Brand management builds and maintains the corporate image of a business.

Brand management draws on many different scientific traditions such as economics, strategic management, organizational behaviour, consumer research, psychology and anthropology just to mention a few. A complete overview of brand management hence requires multidimensional thinking.

Brand Essence It is the single most captivating thing about a brand that differentiates it from the rival brands. The brand essence provides an insight of the seller's marketing strategies and is based on consumers' needs. It plays a very important role for organizations competing in the B2C markets. Brand essence is generally short and can be expressed in a few

- Website layout along with Social media page applications.

- Editorial guidelines and copywriting methods.

These guidelines should provide the flexibility for the designers to be creative, but at the same time they should be rigid enough to keep your brand easily recognizable. Consistency is the key, especially if you need the brand to extend across multiple media platforms.

Elements of a Brand

The key to creating a brand is to be able to choose certain characteristic that distinguishes a product from others. These different components or characteristics of a brand that identify and differentiate it are called brand elements. There are eight essential elements of a brand as given below:

- Brand Name: This is the name that will create the identity of the brand and be visible everywhere. In order for it to be simple and memorable it should be meaningful, easily pronounceable and unique.

- Tone: Tone of communication between the seller and consumer

- Logo: The logo can be anything from simple text to abstract designs but it must be relevant to the product or service, iconic, and attractive.

- Slogan: It should summarize the overall value of the