Essay sample on Brand Management
A brand is the mark of distinction for every company and should always be managed in a way that promotes the interests of that company. Brand management refers to a marketing communication function that involves the analysis and planning on how a particular brand should be positioned in the market so as to maintain a desired reputation of a company and its products. Through brand management, an organization portrays a level of commitment that reassures all parties that it does business with including consumers and suppliers, that they can trust it.
Brand management involves quite a number of activities that must be conducted thoroughly for success. The first step in brand management involves monitoring the competitive atmosphere that exists in the particular market in which the brand resides. This should be followed by the development of strategies that can foster the exploitation of opportunities that exist in the market. Those strategies should then be executed with the help of a cross-function team. With this, the company is required to embark on delivering the sales volume, market share and profit projections for the business.
There are quite a number of avenues that can be pursued in order to get your brand message out there. Some of the most common ones include public relations and publicity, phone directories, trade shows, broadcast media, online, print media and even professional assistance through consultants, agencies and designers. The means that you choose should be based on the product that you are selling and the ability of it to penetrate to your audience. Despite the choice that you make, it is important to always go for a communications avenue that you are able to comfortably implement, and can also reach out to your perceived audience.
One of the secrets of brand management that is crucial to note is that, your brand should always be visible in both good and bad times. The idea of waiting for economic downturns will only place your brand behind that of your competitors when things begin to turn around. Bad economic times can also be opportunities that you can pursue in order to fully engage your creativity and explore alternative means of revenue generation. Just as someone put it, ‘’If you are unhappy with the way in which the game is played, simply change the rules!’’
In trying economic times, there are certain options that you can try out to ensure that your brand stays at the top. Some of those that you should adopt can include networking with local chambers of Commerce or professional associations, encouraging your staff to become actively involved in local charities and boards of directors, holding webinars for free or at low fees. Besides, you can also barter with other companies in order to gain exposure for your brand.
Brand management does not only involve the creation of a meaningful name or even logo but a differentiated symbol or word mark that gives a clear illustration of the brand personality. A brand is built over a period of time that will depend on how it is managed.
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