Brand Management

What is a brand management? It is a process dealing with a brand and its emotional relationship with its targeted stakeholders. A brand includes a readily recognizable and well-known mark which can be a name or logo, signifying an entity's quality, credibility and satisfaction in the minds of the relevant sector of the public.

A brand can drive demand for goods or services as well as their pricing. Through an entity's licensing programme on goods or services, the value of the brand can be seen or felt from royalties eg based on a percentage of the sales revenue. The value of a brand can surge with on-line marketing, and the scope of brand management is worldwide.

A brand can also dilute itself eg an entity's ill-judged extension or undesirable licensing, moving the brand down-market and developing an adverse emotional experience. Thus an entity has the answerability, responsibility and accountability not to grant any licence that may conflict with the entity's vision or mission, or the entity's spirits or purposes. An entity's comprehensive brand management programme requires a coherent policy or guideline, consistent monitoring and enforcement.

The near-term objective of brand management is to maintain an entity's association with its relevant sector of the public. The long-term goal of brand management is to enhance an entity's capability to create, capture and deliver the promised value. Whether an entity's business is commercial or non-profit, strategic brand management is an essential element of success!