Brand Management

What is 'Brand Management'

Brand management is a function of marketing that uses techniques to increase the perceived value of a product line or brand over time. Effective brand management enables the price of products to go up and builds loyal customers through positive brand associations and images or a strong awareness of the brand. Developing a strategic plan to maintain brand equity or gain brand value requires a comprehensive understanding of the brand, its target market and the company's overall vision.

BREAKING DOWN 'Brand Management'

When implementing marketing plans, the core brand values are emphasized and it is important to be consistent in the ideas portrayed by the company, whether it is through internal or external branding. Understanding how your brand compares to the competition is also important. Profitability is one way brand managers measure the effectiveness of campaigns, but it could take decades to build and manage a brand.

RELATED TERMS
  1. Brand Identity

    Brand identity is the way a business wants consumers to perceive ...
  2. Brand

    A distinguishing symbol, mark, logo, name, word, sentence or ...
  3. Brand Equity

    The value premium that a company realizes from a product with ...
  4. Brand Personality

    A set of human characteristics that are attributed to a brand ...
  5. Brand Recognition

    The extent to which the general public (or an organization's ...
  6. Brand Awareness

    The likelihood that consumers recognize the existence and availability ...
Related Articles
  1. Investing

    The Power Of Branding

    It's the ultimate economic moat, and we look at the approaches and effects of good and bad branding.
  2. Financial Advisor

    Why These Are the Most Valuable Brands of 2015

    A company's brand can be worth billions of dollars. Here are the most valuable global brands in 2015.
  3. Insights

    Top 100 Most Valuable Global Brands 2016

    A look at the BrandZ 100 Most Valuable Global Brands Report
  4. Investing

    Understanding Brand Identity

    A brand identity comes from visible elements, such as the company name, the design of its logo, its packaging design, and colors, tagline and typeface.
  5. Entrepreneurship & Small Business

    Explaining Brand Equity

    The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent.
  6. Insights

    Top 20 Brands Worth More in 2016 (WPPGY, AMZN)

    A look at the top 20 brands whose value has increased in 2016.
  7. Personal Finance

    Understanding Product Lines

    A product line is a group of related products manufactured by the same company.
  8. Markets

    If You Love a Brand, Should You Buy Their Stock? (AMZN,NFLX)

    Is there a correlation between brands consumers love most and the performance of their stocks?
  9. Entrepreneurship & Small Business

    6 Branding Tips For Small Business Owners

    One of the most important areas for all businesses to utilize is branding.
  10. Insights

    Explaining Brand Personality

    Brand personality is comprised of human characteristics attributed to a company and its products.
RELATED FAQS
  1. Why is brand equity considered an intangible asset?

    Brand equity is an intangible asset because the value of the brand is not a physical asset and is instead determined by consumer ... Read Answer >>
  2. What are some of the benefits of positive brand equity?

    Learn how having positive brand equity enables companies to make a higher margin on sales and spend less money on marketing ... Read Answer >>
  3. What are some of the ways that a company can improve its brand equity?

    Learn why brand equity is so valuable in business. These strategies for gaining high exposure and a great reputation will ... Read Answer >>
  4. What are some examples of companies or products that have outstanding brand equity?

    Brand equity is the heart of reputation building for companies and products. With solid equity, the quality of a service ... Read Answer >>
  5. How does a customer base dictate goodwill?

    Find out how a customer base dictates the value of the goodwill by providing a ready market for its products and spreading ... Read Answer >>
  6. What are the differences between brand name drugs and generic drugs?

    Discover the process by which brand name drugs lose their patent, allowing generics to be manufactured, as well as the differences ... Read Answer >>
Hot Definitions
  1. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  2. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  3. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
  4. Underweight

    1. A situation where a portfolio does not hold a sufficient amount of a particular security when compared to the security's ...
  5. Russell 3000 Index

    A market capitalization weighted equity index maintained by the Russell Investment Group that seeks to be a benchmark of ...
  6. Enterprise Value (EV)

    A measure of a company's value, often used as an alternative to straightforward market capitalization. Enterprise value is ...
Trading Center