Brand Management Has Never Been More Important Or More Difficult-mfcclub.net

Business Brand management is a simple term for a far from simple process. By definition it is applying marketing techniques to a particular line of products in order to improve its value. The goal is to increase what is referred to as brand equity, or recognition and positive image with consumers. In practical application, however, brand management is really a series of processes that measures the effectiveness of a brand image, puts a value on the brand image, and constantly reviews, analyzes, and adjusts various elements of the marketing strategy related to the products or product line. While marketing books may not say so, the ultimate goal of brand management is to increase sales and profitability for the product line. Sound simple? Well, brand management might be simple if it wasnt subject to many factors that are constantly changing. The way a brand today is certainly not the way that very same brand was managed ten years ago or even two years ago. In turn, the brand management factors at play today are not the same as those that will be in play ten years from now. To make matters all the more .plex, things can change in an instant. One need only look at the current cultural shift from conspicuous to value conscious consumption that has taken place since the global financial crisis set in to understand the .plexity of brand management and how quickly trends can .e into play which greatly influence the way a brand is handled. Only a year and a half ago brand managers were flying high with confident consumers who where busy furnishing big houses and buying big cars. Since then job losses have soared, housing prices dropped, and marketing budgets have been slashed. Now consumers are looking to stretch their dollar, pay down debt, reduce monthly payments and feed their families on in.es that are far smaller than they have been in the past. Enter the brand manager who must apply all the skills in the brand management tool box to keep the product line profitable in troubled times. No easy task–especially with fewer financial resources available to the brand management team. As if that werent enough, consumers continue to demand green products and packaging and .panies must continue to .pete in an ever globalizing market. No only do changing trends impact brand management, new marketing channels must be incorporated as they mature. An obvious example is the online channel. Top managers have already mastered this important marketing tool. Still in the maturing stage are social networking sites such as Facebook, My Space, and Twitter. Not only must brand management take into account changing trends, it must incorporate changing technology and be able to effectively maximize these tools as consumers begin to adopt them. Brand management has never been more important than it is today. .panies must be state of the art and then some in order to maintain and increase market share. Good brand managers must be nimble and ready to move with the market and at the same time effectively apply all the tools available in a way invisible to consumers. About the Author: 相关的主题文章: