Promoting and Managing Brand, New Management Trends

What is Brand?

Every day the market place gets more crowded with new products and services. Intense
competition, new trends and technology leads to difficulty in persuading the buyer to
select a product or service.
With all these changes, it is clear that we are facing a new world order, selling something on market is not what is used to be, you need first to educate yourself to Sell the Brand, not the Product.
So, let’s define, what is a brand?
A brand is a “Name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers” — According to American Management Association

Imagine, what comes to mind when you are asked to think of mobile phone that you
would like to buy? you will immediately recall some of the well-known global brands
like Apple, Samsung …etc. as we used to associate products with the image of the brand
or the logo and its reputation.
If you want to brand your product or service, a Marketing Tactics is required to build a
brand image, create customer loyalty and establish an emotional connectivity with the
customer which is Brand management.
There are considerable differences between firms in terms of their use of brand
management paradigms and models.

Here are 6 basic steps for promoting a particular brand and sustaining it in the market:

Step #1: Define the Brand:

When defining your brand put as much clarity as possible into the description of your
service or product and your unique solutions to their problem. It is very important to
highlight what distinguishes your company from the rest.
Example: What is to be sold, exactly? Describe the product in terms of what it does for
the customer and how does the product improve your customer’s life or work?

Step #2: Positioning the Brand:

You need to identify the target audience that you want to get into their mind:
– To whom is the product or service going to be sold,
– The benefits you want them to think of on the purchase decision when they think of
your brand.

Step #3: Building a Brand Identity:

It is very Important to keep things simple. The design of all the visible elements of
describing the brand such as the Brand Name, Logo, Color, Symbols, graphics or even
packing should be simple, trendy, unique, remarkable, consistent and must be appropriate to the targeted consumer by making it easier to flash and easily remembered by the consumer’s mind.

Step #4: Communicating the brand effectively:

In modern brand management, it is essential to build brand awareness and strategic ads. Creating a presence in social media networks is not an optional anymore to interact with customers. Brands have to be present in every channel where the target audience is present – Facebook, LinkedIn, Blog, Website, YouTube, Snapchat or any other channel. You need to build loyalty program by providing excelled customer service, offering products or services that meet your customer needs and consistent with their values, and make them want to come back again.
Transparency and openness can be a huge asset when responding to your customer’s
concerns. Bring constant innovation in your product or service as to ensure that customers repeatedly purchase the product.

Step #5: Manage Brand Performance and Value

This is a recurrence step, the objective of it is to measure the value and strength of the
brand.
You can measure your brand performance using traditional criteria (Example: customer
satisfaction, brand loyalty, brand market share, price points … etc.), Or you can develop
your own brand tracking system and analyze this information and share it across the
corporate executive level in brand management to produce an actionable support
decisions.

Step #6: Tracking competitive and environmental information

A brand management tracking list should be identified and monitored on a continual basis (ex: competitive product information, customer lifestyle, local culture trends … etc.).
An Integration of these environmental information over the positioning of the brands
(described in Step #2) will increase the Top-of-mind awareness of your brand and address the changing psychology of the customer.

New Brand Managment Trends are on the way to change the future of Branding….

We have moved to a social era where social media trends, shares, and happenings shape our reality and possibilities. Our world has become more digital and brands have to be developed faster and positioned better in rapidly changing global, regional, and local environments.
As a lot of people are doing most of their activities online, it is very important to start
analyzing the digital behavior of your target audience. This should help you take the right decisions while Managing your brand performance and value to the customer.
An emotional connection will be important than customer satisfaction. It is not just about tracking your customer satisfaction (across e-stores, physical stores, call centers …etc.), the secret is to be able to let your product or service satisfy their desire (ex: to feel unique, simplify their lives, be part of a revolutionary technology, be part of a group, …etc.).

Shifting from traditional Advertising to Content Marketing is a fast way to get engaged with consumers and always recall your brand. videos and visual contents needs to be created on frequently basis and be integrated in the Marketing Strategy plan.

Branding will not just be related to a product or service; A person can also be a brand!

Management Study HQ

Management Study HQ

People behind ManagementTraningHQ are a team of experts who have gained lot of experience in corporate world through management related trainings.
Management Study HQ

Latest posts by Management Study HQ (see all)

Comments