Thursday, January 28, 2010

"What is Brand Management"???

Today while having a cup of coffee, one of my friend asked me that what is brand management, and his question awake me to think on it. I found that are very low awareness about this topic so I decide to write something what I know about the brand and brand management.

Well, Brand management is nothing but the application of marketing techniques to a specific product or brand. To show the value of product to customers it is required to increase brand franchise and brand equity. The people expect quality products, from a brand name and they continue the future purchase with the same brand, same way marketers see a brand as an implied promise that the level of quality should be maintain for the same product.

Now question arise here what is brand Franchise and brand equity? In my next post I am going to cover these two topics in detail.

Here is the Basic Idea about Brand Management.

Brand management is just an application of Marketing the Product or Brand.

In a competitive market, while making a comparison it may increase the sales more. The manufacturers may get more charge for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer. This can result from a combination of increased sales and increased price, and/or reduced COGS (cost of goods sold), and/or reduced or more efficient marketing investment. All of these enhancements may improve the profitability of a brand, and thus, "Brand Managers" often carry line-management accountability for a brand's P&L (Profit and Loss) profitability, in contrast to marketing staff manager roles, which are allocated budgets from above, to manage and execute. In this regard, Brand Management is often viewed in organizations as a broader and more strategic role than Marketing alone.

7 comments:

priyanka singh said...

Excellent dear
Relay very good post
Thanks for sharing the good post




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vijaysaw said...

Hi

Really,Very good post.You have explained a right thing about brand Management.keep Posting.

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