In marketing, brand management is the analysis and planning on how a brand is perceived in the market. Developing a good relationship with the target market is essential for brand management. Tangible elements of brand management include the product itself; look, price, packaging and the strength of the connection between the brand and the customer.
How to increase the perceived value of a brand.
Brand management is based on strategies to convert a suspect to prospect, prospect to buyer, buyer to customer, and customer to brand advocates.
Developing and delivering the brand promise.
Customers want to believe in the brands they buy. They want them to stand for something. This "something" is the promise from your company and your product that is delivered through your brand. It can be a promise of quality, tradition, family, hip, trendy, modern, strength or cutting edge.
Whatever the promise may be, we work to deliver this promise at every interaction point.
The brand experience extends beyond the purchase point now with open-ended online discussions that affect the brand.
Engaging in these discussions and continuous customer interaction is part of brand management.
Examples of our work in brand management.
Most valued brandsIn 2016 Apple held the top spot as the most value brand, coming in at a value of $145.9M. Apply's value had grown very repidly after the introduction of the iPhone. iPhone 7 is the latest product release from the tech gaint, but with the lack of innovation and no new products equal to the iPhone in the pipeline, Apples has been knocked out of the number one spot by Google. Google is now the world's most valuable brand, according to a new study, snagging the No.1 spot from Apple which has been the incumbent since 2011.
We create brand value.
Regardless of your companies size or the type of products you sell, increasing your brands value increases profits.
Our guidance can define the correct path to maximize the customers you have, strengthen your client relationship, increase market share or expand into new markets.
There are many examples of a brand moat. One of the best examples of this type of marketing is Harley Davidson. Their brand stands for something, it has a following and the customers that purchase their product would almost consider it a sin to ride anything else. It stands for being free, independent, rough, tough and against the fray.. but you already know this because of successful marketing. They have a loyal following that is so dedicated to the brand that they will not only purchase the product, they will wear advertising that they purchase while using the product [riding]. If we could all be so lucky!
This loyalty or perception of the brand was created and now their product is seen as better by their customers. You can create this same type of loyalty and perception for your brand on a local or national level. This is done through a detailed, planned and carefully executed marketing strategy.