The Components of Strategic Brand Management

To understand this concept of brand marketing we should look into a few scenarios that will bring us up to speed with what Strategic Brand Management entails. Picture this; you wake up in the morning after a long night drinking with a crazy hangover and a pounding headache. The first remedy for the headache that will pop into your mind will be Aspirins. Second scenario; You want to buy your friend some cool sneakers for their birthday, the first brand that pops into your mind: Nike! What makes you think of aspirins and Nike sneakers when you are envisioning the best headache remedy as Aspirins and Cool birthday sneakers as Nike is what basically constitutes brand management. To understand strategic brand management we must break down this term into three different parts to ensure that we have a grasp of what each term plays in the phrase. Brand The dictionary definition of a brand is: An identifying symbol, mark that differentiates a product or service produce by one company from those of its competitors. However this definition relative, some consumers will look at the distinguishing characteristics while others will look at the particular status of the products and the company however all in all a brand is an important component of marketing. From a consumer’s point of view, a brand indicates a level of commitment in the provision of quality goods and services and will be a benchmark of standing that distinguishes your products from competitor’s and easing the choice of the consumer. For other businesses a brand is what sets you apart from competitors and it is what will influence confidence in allies and respect from competitors. Brand Management When it comes to brand management it basically entails structuring and managing both the tangible and intangible components of your company’s products to ensure they have an appeal and connection to your clients. The tangible aspects of goods include packaging, pricing and the product and for services it is the experience of the consumer. In brand management you should ensure that all the aspects are well structured and managed and eventually clients will have an emotional connection with your product and this constitutes an intangible component of a product. Brand management is about appealing to your niche market and thereby garnering loyalty and confidence to ensure that they look up to your product as the go to solution for their particular needs. Strategic Brand Marketing In this digital age, the technological advances and the internet has modified the concept of brand management. In order to ensure that your brand is well managed, you will have to ensure that you are strategic. The strategies that most companies have changed to, are aimed at making the maximum output for less effort. Using the internet has been primed in Strategic Brand Management using Search engine optimization and marketing. Other than that, companies have also devised social ways to market by sponsoring events or associating with a social cause and many other social interaction techniques. This is the Strategic part of the brand managing: Involving the community.