STRATEGIC BRAND MANAGEMENT

What is a Brand? A brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

The Concept of Brand Equity stresses the importance of the brand in marketing strategies. Brand equity is defined in terms of the marketing effects uniquely attributable to the brand.

Brand equity relates to the fact that different outcomes result in the marketing of a product or service because of its brand name, as compared to if the same product or service did not have that name.

The Key to Branding: For branding strategies to be successful, consumers must be convinced that there are meaningful differences among brands in the product or service category. Consumer must not think that all brands in the category are the same.

PERCEPTION = VALUE

Strategic brand management involves the design and implementation of marketing programs and activities to build, measure, and manage brand equity.  The strategic brand management process is defined as involving four main steps:

            1)  Identifying and establishing brand positioning and values

            2)  Planning and implementing brand marketing programs

            3)  Measuring and interpreting brand performance

            4)  Growing and sustaining brand equity

Strategic Brand Management Process