Brand management is a broad term associated with advertising and marketing. When we talk about brand management we talk everything of brand. This everything goes till anything linked with brand which the advertiser or client wants to promote. This task of managing the brand is handled by the ad agencies which look after the head to toe of branding. The important keys to unlocking the doors of popularity and fame in brand management are –
- Brand image
The image of the brand should be positive in the mind of the customers so that they melt into potential customers. This positive image takes long term hard work and best beatable tricks to handle the competitors.
- Brand loyalty
How much does your former and latter customers trust your brand and how strong is their commitment towards your brand matters a lot. Trust is the success key to all relationships and here too it is the base for the client- customer relationship.
- Brand identity
Your brand must have a unique and outstanding personality so that your brand can be recognized amongst your competitors. This could be done by starting with catchy taglines or logos followed with the interest of the customers.
- Brand building
The brand once established is not to be left out. Its image should be maintained and retained either by hook or by crook! This could include celebrity linkups, brand ambassadors for your brand, street shows, concerts, sponsoring events etc… these all can be adopted to accelerate your brand.
- Brand Extension
The use of established brands to promote the new product categories is an easier, successful and fast medium to sale out the new innovated. For example the company “Nike” is best known for shoes but if it wishes to produce soccer balls, badmintons and other accessories then its established brand name can be used to extend the new accessory business!
These were only the solid and big points to mention but brand management is a large and broad topic to speculate upon!