Brand management begins with having a thorough knowledge of the term “brand”. It includes developing a promise,
making that promise and maintaining it. It means defining the brand, positioning the brand, and delivering the
brand. Brand management is nothing but an art of creating and sustaining the brand. Branding makes customers
committed to your business. A strong brand differentiates your products from the competitors. It gives a quality
image to your business.
Brand management includes managing the tangible and intangible characteristics of brand. In case of product
brands, the tangibles include the product itself, price, packaging, etc. While in case of service brands, the tangibles
include the customers’ experience. The intangibles include emotional connections with the product / service.
Brand management involves not only creating a brand, but also understanding what products could fit under the
brand of a company. A brand manager always must keep its target market in mind when conceiving new products to
take on the company’s brand or working with analysts to decide what companies to merge with or acquire. A car
manufacturing company that merges with a clothing retail company is hard to fathom and may lead to a disaster for
a company’s bottom line if the reasoning behind its decision is nonsensical.
Brand managers are responsible for ensuring that the products, services and product lines that fall under their
domain resonate with current and potential customers. To do so, these professionals continuously monitor
marketing trends and keep a close eye on competitive products in the marketplace. They also regularly meet with
clients and senior management, and they oversee a team of junior marketers. Brand Managers are responsible for
more than executing marketing campaigns; they are also in charge of managing and developing P&L and driving
market growth. Strong analytical skills, business savvy and the ability to multitask are all essential.