Brand management fundamentalsadmin
What does brand management mean?
Brand management means the processes that companies implement to form a strong brand identity, determine its value in the market, and then introduce it to the public. In this article, we will talk in detail about the most significant fundamentals of brand management.
- Brand knowledge
- Brand recognitions
- Brand value
- Brand loyalty
- Brand reputation
It is the knowledge that customers have about the brand. Brand knowledge is very significant, because customers will not go to buy a product from a brand that they do not know anything about. This means that the more information the customers know about the brand, the more they will trust and engage with it.
It is the ability that customers get in recognizing the brand just by seeing its name, logo, or products. Brand recognitions is usually determined by many features such as, logo, slogan, colors, and many other factors. The more the company focuses on choosing a unique identity for their brand, the more customers will distinguish it and be able to identify it faster.
Brand value means the perception consumers have about a brand based on their experiences with it.
Brand loyalty can be evaluated by studying customers continuity to buy the company products even with the presence of competitors. Most companies look for the best ways to enhance customers loyalty to the brand, considering that customer loyalty is one of the most significant ways for increasing sales.
Brand reputation means the impressions that customers have about the brand. All companies must work to provide the greatest quality and service to build a good reputation.