Uploaded on Oct 17, 2023
Foster Your Brand's Success: Unveiling the Art and Science of Brand Building and Management.
Brand Building and Management
Brand Building and Management What is Brand Building? Brand Building is generating awareness, establishing and promoting company using strategies and tactics. In other words brand building is enhancing brand equity using advertising campaigns and promotional strategies. Source: www.mbaskool.com Importance of Brand Building Brand building can be initiated with a well thought brand identity which can help create a strong brand image which goes a long way in consolidating the brand. Source: www.mbaskool.com Product brand A physical product or items or goods are a product brand. Brand building is ensuring a good quality product is given to the customer along with good brand visibility, packaging, warranty etc. All these cumulatively help in brand building. Example of product brands are Adidas, Rolex etc Source: www.mbaskool.com Service Brand A non-tangible offering is a service brand like telecom service, ecommerce etc. In this case, brand building is most dependent on the experience that a customer gets. Example of service brands are McDonald’s, Starbucks etc Source: www.mbaskool.com Retail Brand Retail brands are a combination of service & product i.e. products are sold through a service offering. Hence brand building has to ensure good customer experience as well as high quality products. Example of retail brands are Tesco, Walmart etc. Source: www.mbaskool.com Process of Brand Building There is no definite way of brand building. Brand building requires innovation, creativity, correct value proposition, constant monitoring & ensuring good customer experience. Source: www.mbaskool.com Describe your brand The first step of brand building is to describe the brand. This can be done through product description, packaging, logos etc. The way a brand is defined builds the brand equity and forms the foundation of the customer perception. Source: www.mbaskool.com Brand Differentiation & Positioning Once a product or service is created, it is critical that the brand is differentiated from its competition with some unique value. Also, positioning the brand correctly is an essential element of brand building. Source: www.mbaskool.com Brand Promotion Advertising & promoting the brand using TVCs, social media, print ads, online advertising etc is one of the most important pillars of brand building as it helps in creating brand awareness. Source: www.mbaskool.com Personalise the Brand Brand building can be effective is a customer feels connected to it. Hence giving a personal touch to the customer, through innovation and customization can help building a stronger perception in the mind of the customer. Source: www.mbaskool.com
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