What is brand management?
Brand management, by innovation and non-stop creativity, businesses will own a prestigious brand. When the market competition is getting fiercer, there is a good brand management strategy to help businesses stand firm and grow strongly.
Invite readers to read with CleverAds to learn the process of creatingStrong brand management strategy in the post below!
1. What is brand management?
Brand management not simply marketing for a product. It is a process of creating, maintaining and developing a brand image. Aim to build trust with customers.
As the market grows, the products are diversified. If businesses cannot manage their brands well, they will easily collapse in the face of fierce competition. Brand management cannot be completed in one go. It requires investment, a long process of patience and efforts of the business.
Responsibilities of Brand Management activities include:
- Brand image management on media channels
- Brand portfolio management
- Manage the media and performance measurement
- Check and manage brand equity
- Control and manage brand value in the market
2. Who is responsible for the role of Brand Management?
Usually, locationBrand management is usually undertaken by people who are really knowledgeable about the business, because this job will directly affect the revenue as well as the reputation of the business.
Moreover, only those who are really passionate about that business can create Brand Management Strategy best fit.
3. Role of Brand Management
3.1. Create a consistent image throughout the business process
Good brand management in the media will build a prestigious image of the business in the eyes of customers.
This image should maintain uniformity in every appearance of the business.
Maintaining a consistent image throughout will give customers a feeling: familiarity, trust. And especially, make them remember your business’s brand forever.
Uniqlo – modern minimalist Japanese clothing brand – is a great example of consistent branding.
Uniqlo – Brand Management
Until now, Uniqlo has always carried the image of minimalism. Whether it’s in the media, or even in retail stores. Therefore, every time users think of simplicity and simplicity, they will immediately think of Uniqlo and choose to use the brand’s products with absolute satisfaction.
3.2. Increase brand awareness
No matter how useful your product/service is, how creative it is, but with zero brand awareness, your business will definitely have a hard time achieving its revenue goals.
With constant innovation and creativity in Brand Management, businesses will be able to own a strong and prestigious brand. However, awareness of your business will also be significantly increased among target customers.
3.3. Customer retention
Only Attract customers Choosing to shop a few times is not enough, turning those consumers into loyal customers is the key to revenue growth.
In order to do that, Brand management is very important.
Because this process includes: providing customer care, dedication, always listening and improving products, building trust with customers. All of the above will contribute to fostering loyal customer relationships, and help brands get voluntary promotion from them.
4. Process of Brand Management in every business
Step 1: Define and establish Brand Management objectives
Initially, businesses always need to define and establish a complete brand identity. Then consider the direction of developing the brand’s own characteristics and identity, in order to increase brand value and connect more deeply with customers.
Finally, focus on improving the financial value of the brand, through franchising and co-branding activities.
Step 2: Research on business context and environment
In this step, businesses can use models such as SWOT, PESTEL to determine its strengths, weaknesses and opportunities and risks of the market. This step is used to predict market trends as well as demand.
Step 3: Define strategic goals
The strategic goals in the Brand Management process are usually: Brand Positioning, improving the perceived value and awareness of customers about the brand, perfecting the brand identity system, developing a new sub-brand, building a digital brand…
Step 4: Risk prediction and risk treatment plan
Some possible problems are mixed customer reactions, risks from competitors, the emergence of new brands. We need to be well prepared for all possible scenarios. Avoid the case of overloading and having to pause the project.
Step 5: Deploy projects and ideas
Prepare and carry out activities in the media to enhance brand positioning. This is considered the most important step in the whole Brand Management process, holding the key to determining the success of the business.
At this step, businesses need to meticulously and carefully implement each step, in order to bring the best transmission of brand values.
Step 6: Monitor and report on Brand Management projects
The last but not least step in the Brand Management process is monitoring and reporting on ongoing projects.
Monitoring and measuring efficiency is carried out in order to limit unnecessary time and costs and bring the best results for implemented projects.
5. Factors affecting the Brand Management process
5.1. Changing consumer needs
Needs and psychology of consumers are always changing.
To be able to come up with the most effective communication strategies and methods, the person in charge of Brand Management needs to be able to adapt to new trends, capture consumer psychology and fully exploit it. .
5.2. The development of new technology
The world of technology is always evolving and bringing out new tools every day. The job of brand managers is how to constantly catch up and optimize new tools to serve the brand management process of their businesses.
5.3. Continuously innovative customer approach
Today, most businesses use popular branding strategies like Social Media or Influencer, focusing on popular platforms like Facebook, TikTok and major Influencers.
However, the overuse of these strategies and superficiality has made the audience feel bored and lose interest.
Therefore, the approach to customers has been innovated by attacking niche markets such as using smaller Influencers. This new approach helps brands communicate through stories that are more authentic and receptive to the public.
6. The most effective marketing tips for Brand Management
6.1. The exact transmission from the brand name
Brand name plays a very important role in the Brand Management process, because it is always associated with the business, creating consistency in the mission, vision and business strategy.
A simple, easy-to-remember brand name that represents the industry and always has a positive meaning will be a special strength for businesses.
For example, the McDonald’s restaurant chain with a very “American” brand name.
It’s a name that customers immediately associate with delicious American burgers.
McDonald’s – Brand Management
6.2. Customers are number one priority
Surely many people wonder:Why does Apple have such a huge number of loyal users?
When it comes to Apple’s outstanding success, it is impossible not to mention the deep connection of this brand with customers – always listening and responding to the needs of users.
Apple has invested heavily in building their trust and relationships with customers. We can see that by building products that are safe for users and the environment, or that provide maximum security for users.
6.3. Consistent brand style
As mentioned above, consistent brand content across media channels will help you easily convey the common voice of your brand.
6.4. Always keep up with the trends
Always ready to adapt and change with the needs of the market and customers is essential for every business to be able to do its brand management task well. Always actively innovate yourself to stay ahead of trends, creating a distinct competitive advantage of your business.
7. Conclusion
Through the above article, I hope you have the necessary knowledge about Brand Management for your career path. Is there anything about Brand Management that you still wonder about? Let CleverAds know what you think!
