What is Brand management and why does your business needs it?

Brand management drives both the media knowledge about your product and the actual products are aligned to the brand values, resulting in the consistent consumer demand. A brand that is consistent and offers clear value puts the customer at ease, because they know exactly what to expect each and every time they experience the brand.

Accordingly to the international brand rating, the Coca Cola is one of the most known brands in the world. To achieve it, soft beverage producer invested tremendous efforts both in time and finance.

• According to the aknowledge.com, the brand value of Coca Cola is $286 Billion US Dollars in 2022.

• 40.126 billion – The estimated number of Coca Cola sales per year.

• 94% – the percentage of the world’s population that can explain what the Coca Cola logo is associated with – joy and happiness.

• So, what’s the key to Coca Cola’s longevity and resilience? – the answer is Brand management!

What is brand management?

Brand Management is set of marketing activities that feature, explain, deliver and help people to remember the value of a product, service and associate it with brand over time. Successful brands are built on the foundation of a meaningful brand strategy, consistent delivery of a product promise and memorable brand image / message that is outlined by advertising to each specific marketplace.

Strategic brand management comprises the design and implementation of marketing programmes, measure and manage the outcome. These programmes build brand identity which represents how the brand wants to be perceived.

Here is why brand management is so important:

1. To buy a product, consumer needs to know the producer - brand.

Brand awareness is a fundamental gear of brand management. Consumer won’t purchase goods that are not known, not seen before or not recommended by another individual, even if such recommendation comes from advertisement. Producers that don’t invest in brand awareness and advertising rather tell to its potential customers to purchase their competitor’s product or service.

2. First impressions are important.

Well, there is never a second chance to make a first impression. The way a product or service presented to its consumer, via packaging for example, is the first impression opportunity for your brand. Brand management meant to monitor and control branding guidelines to insure a fresh and memorable outlook, making a lasting impression on customers, throughout their journey with you.

3. Consistency is key.

Brand management in highly competitive and in dynamic markets will only be effective if the brand itself stays close to its core values and uniqueness. A brand that is consistent and clear create familiarity, attachment of a customer faster and for longer. It’s therefore extremely important for brands to have a consistency. Digital Transilvania Brand manager ensures that both the intangible and visual aspects of your brand are aligned to a value perceived by your customers.

Here’s an example of how Coca Cola has evolved over time, while maintaining a level of consistency and brand recognition.

4. Brand loyalty.

Brand management overlooks a variety of complex brand matters, with loyalty being one of the top goals. The world has become smaller with the rapid growth of e-commerce, and more and more consumers are buying products from outside their countries. It is therefore important to look at managing brand equity in different types of market segments and to also consider international issues and global brand strategies, where relevant.

If consumers recognize a brand and have some knowledge about it, then they do not have to engage in a lot of additional thought or processing of information to make a product decision. Therefore, when your brand is managed properly you will see a definite increase in brand loyalty.

5. There is never a cap to the Brand maintenance

In recent years, the consumers has changed drastically and the benefits they derive from the products sold by companies have changed. Modern marketing has had to adapt to the digitalisation of the world. 15 years ago, people could not imagine that soon they won’t have to go to the bank to resolve their finance and they would have to go to the store to see, feel, compare and decide to buy anything they want. 10 years ago with wide spread of internet people begun to do make mobile banking, do online research prior to buy a product. And now, a person can manage the most of his affairs online, including education, travel, communication, work and of cause – shopping. With every technology breakthrough brands have to adopt new sales strategy while maintaining brand values. This represents a challenge for most of entrepreneurs and this is when DT Brand Manager comes to the rescue.

Once you have your brand, the real work begins. Maintaining your brand is a continuous task. Logos, taglines, and editorial messaging should obey brand guidelines. Facebook, Twitter, and Instagram updates should express a similar brand tone and feel as brochures and mailers. The responsibility of brand management is to continuously enhance and improve the brand over time.

The shift to digital has decreased the extent of control that a brand manager has over brand meaning. With today’s many-to-many communications model the growth and proliferation of large social media platforms has ushered in an era in which dynamic and real-time conversations are taking place among consumers on a massive scale, making the control businesses have over brand message and co-creation of brand meaning limited.

As a digital age marketer or brand manager, you must consider online branding in your strategy and how you can use online channels to support your brand.

Do you want your brand to be the next Coca Cola, or even better? Then wait no more, contact Digital Transilvania expert today.