How To Manage Your Brand

Brand management is imperative to the company’s long term strategy and thus and effective brand

management goes a long way in the growth of the company. A good brand attracts loyal customers who

are always coming back for more.

Brand awareness is required to make the customers aware and engage, retain and keep them loyal to

the brand/product. Strategies need to be evolving constantly and the means of distribution is changing

fast. The opportunity for a brand to evolve is to harness the rise of social media. Today, internet is a

powerful tool that gives the opportunity to make content and a product viral through YouTube

marketing or even videos which can be uploaded for free on YouTube. Brands need to create an

impression with the people that is long term because that is how they will achieve customer loyalty. The

cost of maintaining customers who are loyal to the brand is way less than procure new ones.

The strategies are varied for different set of company models. Word of mouth is one of the most

effective strategies which ensure the product is heard about amongst people in large vicinity. Strategy is

the key to success and both traditional and modern approaches can be applied to making the brand

grow.

Individual branding is a highly beneficial proven strategy in which a large variety of products are

branded separately under a parent brand. The greatest example of such a strategy execution is probably

P&G which has many subsidiary brands like Gillette, Head & Shoulders, Olay etc., under it which in itself

are brands. The risk is minimized as the parent company does not get hurt by the decisions of the

separate brands. The sense of competition among brands is also heightened and the data collection and

demographics is varied and helps across various sectors of the company. The positioning in the

consumers mind is also varied.

Multi product Branding is on the other spectrum of individual branding where a single brand name is

used across various products. Companies like Samsung and Apple attract customer loyalty by leveraging

the parent brand name across their various products. The investment in the brand management boosts

the awareness of all the products of the brand. Thus, productivity is attained by promoting the brand

name although it is risky because a single mishap can have an overall effect on the image of the entire

brand.

Sub-branding is an amalgamation of individual branding and multi product branding where the larger

brands create large sub brands for product groups. An iconic example could be Honda and Acura being

to separate brand names under Honda Company even though one is priced higher than the other.

Co-branding is a suitable strategy where one brand harnesses the values and customer loyalty of

another and vice versa. On various occasions Google has partnered with Samsung on various projects

together. This allows each brand to benefit from the customer loyalty.

Iconic brand is not a categorized strategy but it is used to build a persona of the brand. It allows the

brand to create a long term perception of how the customer views the products of the brand. A large

community can be built on just creating a strong brand persona. For example, Nike’s ‘Just do it’ tagline is

one iconic tagline that every customer associates with who is into fitness or is working towards it.

Social media is an upcoming tactic which is constantly changing. It is necessary to use core values to put

the brands’ message across to the customer. One click of a button can change the perception of the

entire brand in the customer’s eyes. For example, Amazon uses rating system to let the customers rate

the products so it’s easier to make recommendations and purchase the products. Today so many brand

management agencies are available in market, so you should choose better agency very carefully.