Brand Management

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Strategies to tackle Brands
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• Brand Management strategies deals with brands as
  basis and forms various strategies to bring
  business to the Company. The American Management
  Association defines Brand as a Name, term,
  design, symbol or any other feature that
  identifies one sellers goods or service as
  distinct from those of sellers.
• Branding makes a product stand out from
  competitors, creating a niche for the product.
  Brand kindles customer expectations and builds
  trust and confidence when expectations are met
  consistently. Brand increases customer awareness
  of the business and its products and services, by
  engaging with customers and creating a
  connection.
• Branded products sell at a premium compared to
  equally good or better products because of their
  image. Brands enable companies to move into new
  market sectors effortlessly. Having established
  the intrinsic value of a branded product and the
  enhancement in its market value, it is necessary
  to sustain this competitive advantage.
• This is where brand management comes into play.
  Brand Management is the application of marketing
  techniques to a specific product or product line
  to increase its perceived value to the customer
  and thereby increase brand franchise and brand
  equity. Brand is seen as an implied promise that
  the quality level will be maintained and handed
  down through future purchase of the product. To
  this end brand management devises strategies to
  achieve desired mileage for the product and
  sustain its growth through distinct advantage
  over competitors.

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Brand Management Strategies that may be adopted
to be one-up on competitors are listed below-

• Establish and Maintain the Brand through enhanced
  product characteristics, advertising, sales
  promotion, packaging and other marketing
  techniques. The brand may traverse other product
  lines or geographical regions. Focus should also
  be to identify prospective products and services
  to which the brand should be extended.
• Ensure consistency between brand strategy and
  corporate goals to reflect positively on the
  company image. Promoting a dental cleanser with
  medical practitioners approval enhances brand
  and corporate profiles.
• Select Profitable and Innovative Partners to
  expand further ventures without having to pump in
  excessive additional resources on new products
  and uncovered areas. An innovative packaging
  company with similar corporate ideology can give
  wings to the product and brand together.
• Observing Quality Control and Reporting Formats
  will ensure continuity in Customer
  Expectation-Realisation Gap and boost confidence
  and patronage to the Company. An eye for detail
  as displayed on a product and a feed-back in some
  form can hold an audience captive and wedded to
  our brand.

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