What is the brand management?

brand management refers to marketing of a certain brand or product to increase its popularity between consumers and increase market share. It differs from general marketing in that it focuses on one business name. This name can only apply to one product, but usually covers a number of products produced by one company or manufacturer.

There are several categories of brands in the marketing industry. The most expensive brands are generally referred to as premium brands. Brands associated with cost savings that claim that their products are as good as more expensive varieties are usually called brands of economies. If a competitor of the product is entitled to superiority, a new brand may be introduced as "improved" or "better than ever". This is usually referred to as a combat mark in this industry. For instances, if consumers find out that the XYZ detergents are cleaned better than any other product and its sales climb, marketing canDepartment xyz introduce the product of the softener of the fabric under the same brand. If this product is also the best seller, the next fabric market may be under the same name.

As the brand management cycle progresses, the company can slowly increase the price of the product. If the increased price has no negative impact on sale, the next step of the marketing department may be a slightly reduced marketing effort to reduce costs. The combination of increased sales and reduced marketing expenditure increases the overall profitability of the product.

brand management experts usually use a set of trade name principles on newly introduced products. These instructions indicate that the success of the brand is highly addicted to it is easy to remember, easily pronounced and highly recognizable. Other success factors generally include the ability to easily and precisely translate into all languages ​​of the target consumer market.

conceivedBrands generally fall into one of three categories. If the name of the manufacturing company is used for sale of the product, it is called corporate branding. The family brand usually applies to a group of products related to, such as a range of work. If no two products produced by the company have the same name, the term regularly used to indicate these items is an individual mark.