Brand Management

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Definition of 'Brand Management'

Brand management is the process of building and maintaining a brand, which is a name, term, design, symbol, or other feature that identifies a product or service and distinguishes it from its competitors. Brand management involves creating a brand identity, developing brand awareness, and managing brand equity.

Brand identity is the set of associations that consumers have with a brand. These associations can include the brand's name, logo, colors, slogan, and other elements. Brand identity is created through marketing and advertising, as well as through the product or service itself.

Brand awareness is the extent to which consumers are aware of a brand. Brand awareness can be measured through surveys and other research methods. Brand awareness is important because it helps consumers to identify and remember a brand.

Brand equity is the value of a brand. Brand equity is based on the strength of the brand's identity and awareness, as well as on the brand's perceived quality and customer satisfaction. Brand equity can be measured through financial metrics, such as brand valuation and brand royalty rates.

Brand management is an important part of marketing and business strategy. A strong brand can help a company to attract customers, increase sales, and achieve a competitive advantage.

Here are some additional details about brand management:

* Brand management is a strategic process that involves planning, organizing, and controlling all aspects of a brand.
* Brand management is typically carried out by a brand manager, who is responsible for developing and implementing the brand strategy.
* The brand strategy is a plan that outlines the brand's goals, objectives, and strategies.
* Brand management involves a variety of activities, such as creating brand identity, developing brand awareness, and managing brand equity.
* Brand management is an ongoing process that requires constant attention and care.

Brand management is a complex and challenging task, but it can be a very rewarding one. A strong brand can help a company to achieve its business goals and objectives.

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