Brand Management

Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the product's perceived value to the customer and thereby increase brand franchise and brand equity. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with future purchases of the same product. This may increase sales by making a comparison with competing products more favorable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer.

Why to use brand management?

For Consumers Identification of source of product, Assignment of responsibility to product maker, Risk reducer, Search cost reducer, Symbolic device, Signal of quality.

For Manufacture Means of identification to simplify handling or tracing Means of legally protecting unique features, Signal of quality level to satisfied customers, Means of endowing products with unique associations, Source of competitive advantage, Source of financial returns.