Brand Management

Is it possible to create the best version of your brand and insert in the people’s minds? Creating a strong brand can enhance your influence to new heights and leave a lasting impression in other people’s minds. Every brand exists in its own way but the real question is whether it says what you want it to say.

Branding is the process of creating a distinctive  brand, which differentiates the brand in the hearts and minds of the consumer thus enhancing its appeal. It positively impacts current and future purchase potential of the brand. Therefore, brand positioning results in positive brand quality. This is possible only if we our efforts at brand management are consistent, sustained and differentiated. We can follow two methods of brand management. It could either be for a general mass market audience or a niche demographic sub-group. We can also focus on a particular market so as to be regional or global in scope. This helps us evolve over time as the brand develops and matures. To make our brand a successful one, we must have a clear and specific answer for the question: “What does my brand stand for”? For this, we must ask ourselves why our brand exists, what purpose does our product serve. This question goes beyond the reasons for manufacturing and launching the brand and encompasses the existential aspect of the brand. Most of the times, brands are born and exist because they have an emotional standing over and above the functional benefits they offer. It goes higher than the economic gain. For example, a brand can exist simply because of a unique functional benefit it offers. But brands with an emotional connection are harder to copy, have a longer life span and are more effective in handling competitive forces. The entire brand experience for the consumer should be consistent and must highlight the balance between functional and emotional aspects. The brand owner must remember that functional superiority is still a critical aspect for brand success. Communication is only one of the many platforms that can be used to develop an effective positioning in the market. Every brand has a critical role to play, which includes promotions, price, packaging, customer service, retail experience and post purchase experience all of which combined is brand management.

We see that throughout the years markets have become more complex to navigate and are more fragmented. This makes creating and implementing effective brand positioning strategies more challenging. But only by facing the challenges and learning from them can we build a successful brand.

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