Your brand is not just a product or service. Its reach is much farther than something tangible that is, in most cases, also offered by other companies. “Brand” also embraces your organization’s core values and extends to every relationship and interaction you have with customers, suppliers, employees, and stakeholders. To put it another way, your brand is your company’s mark of distinction.
Brand management can play a significant part in maintaining your reputation and ensuring people experience it in the way you intend.
What is Brand Management?
In marketing, brand management is a series of techniques used to increase the perceived value of a product or service. Effective brand management builds loyal customers through positive brand association and has a positive effect on your bottom line.
Why is brand management so important? In a world where consumers make decisions on brands in the blink of an eye, companies must be prepared to wield influence over the public’s view of them. In fact, many businesses will succeed or fail based solely on their ability to successfully market their brand.