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BRAND MANAGEMENT

A brand is a collection of images and ideas representing an economic producer; more specifically, it refers to the concrete symbols such as a name, logo, slogan, and design scheme.

The brand and "branding" have become increasingly important components of culture and the economy, now being described as "cultural accessories and personal philosophies".

In economic terms the "brand" is, in effect, a device to create a "monopoly" - or at least some form of "imperfect competition" - so that the brand owner can obtain some of the benefits which accrue to a monopoly or unique point of sale, particularly those related to decreased price competition. In this context, most "branding" is established by promotional means.

Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the product's perceived value to the customer and thereby increase brand franchise and brand equity. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with future purchases of the same product. This may increase sales by making a comparison with competing products more favorable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer.

Principles

A good brand name should:

• be protected (or at least protectable) under trademark law
• be easy to pronounce
• be easy to remember
• be easy to recognize
• be easy to translate into all languages in the markets where the brand will be used
• attract attention
• suggest product benefits (e.g.: Easy-Off ) or suggest usage (note the tradeoff with strong trademark protection)
• suggest the company or product image
• distinguish the product's positioning relative to the competition.
• be super attractive
• stand out among a group of other brands - like that one compared to the others

OUR SERVICE

We offer to our clients whole spectre of Brand Management: from professional consultation and advice to full project management. Our professionalism and experience allow us to be sure of result our client wll get.

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