Brand management Assignment Example | Topics and Well Written Essays - 2000 words

Brand management - Assignment Example A mixture of various marketing media is called branding. Branding tends to give an identity and captures the mind of the customers with the name of the brand. Depending on the brand value and the intended target segment, companies of all sizes are increasingly weighing their options whether to promote their marketing campaigns through the social networking sites, since there are high chances of possible dilution of the brand value as well as backlash coming from negative feedback and comments from disgruntled and unhappy consumers (Smith and Zook, 2011, p. 14). So, companies are increasingly taking a much more conscious step in their effort to promote the brands in the minds of today’s tech savvy consumers by the usage of promotion techniques such as website promotion, email marketing and mobile promotions. Brand Image The current outlook of the customers regarding a brand is called brand image. Brand image can be looked upon as the set of beliefs the target customers hold I r espect of a certain brand. Brand image is constructed in the minds of the customers from all sources. Brand image has the potential to convey emotional value. The basis of an image in the mind of customers depends upon the subjective perceptions that the consumers have in respect of some brands. When a consumer decides to purchase a product, he is not purchasing only the product itself but also the brand. It is the image that drives the consumers to buy that brand. The brand communications can help to strengthen the images. There are four steps by which a certain product can create its brand image. Creating a brand image is essential to sustain in the long run. The product must be uniquely valuable and present itself in front of the customers in such a fashion that customer can have a clear idea of the benefits that the product provides. The product should communicate with the customer in such a manner that is easily understandable and easy to remember. Another important step in ord er to create brand image is to differentiate itself from the already existing competitors. The new brand must analyze the key selling points of the competitors. The brand will have to set a new structure of promises to the customer, which it will be able to deliver. In fact, the promises offered by the new brand may become the selling point for the brand. The marketing strategies of the brand should revolve with a central theme. The theme may consist of a single idea, and this will act as the focus in all external communications. The brand that is willing to penetrate into the market must live up to the promises made. So the first and foremost step to penetrate into the market is not to make fake promises which the brand cannot live up to. If the brand fails to fulfill the expectations, then in spite of many attempts, it will not be able to enter the market according to its desires. Brand image is created only when the brand creates and meets the expectations. Brand Salience The pro pensity of the brand to come into the mind of the customers in the situations of buying is regarded as brand salience. It differs from the concept of awareness. It reflects the quality as well as the quantity of the network that buyers hold in their minds. The ability of an item to stand out from its competitors and create its own identity is regarded as the concept of salience. The concept of brand salience has achieved much prominence in the brand