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

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

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

    A set of human characteristics that are attributed to a brand ...
  4. Brand Loyalty

    When consumers become committed to your brand and make repeat ...
  5. Brand Recognition

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

    A product or service that has an energetic and loyal customer ...
Related Articles
  1. Personal Finance

    How Companies Create A Brand

    We take a hands-on approach to creating a brand, and see what it can mean as an investor.
  2. Personal Finance

    Well-Established Brands Worth Billions

    We look at the most valuable brands in the world, and explain what makes them successful.
  3. Stock Analysis

    The Long-Tail Value Of Supreme Brands

    Brand value can make old products into incredible winners.
  4. Economics

    Explaining Brand Equity

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

    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.
  6. Home & Auto

    5 Dead Auto Brands And Why They Died

    These auto brands had their run, and have been sent off to rust.
  7. Stock Analysis

    Best Buy Betting On House Brands

    Best Buy uses its house brands strategically, but is this hurting the company or helping it to stay on top?
  8. Economics

    Understanding Product Lines

    A product line is a group of related products manufactured by the same company.
  9. Investing

    Buy The World's Biggest Brands... At A Steep Discount

    Sitting in front of me on my desk is history's most popular brand. Every year this centuries-old brand sells $100 billion all around the world from the United States to Europe to India to China. ...
  10. Investing Basics

    7 Iconic Brands That No Longer Exist

    Understand the value of branding and what makes good brands great. Learn about seven iconic brands that failed and no longer exist.
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 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 >>
  4. 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 >>
  5. What are the most popular companies in the automotive sector right now?

    Learn about the largest global automobile manufacturers, including the most popular automakers by sales volume and companies ... Read Answer >>
  6. Is the substitution effect negative for consumers?

    Explore whether the substitution effect is positive or negative for consumers as well as for retailers, manufacturers and ... Read Answer >>
Hot Definitions
  1. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  2. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  3. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  4. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  5. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  6. Sharing Economy

    An economic model in which individuals are able to borrow or rent assets owned by someone else.
Trading Center