Brand Management - Tutorialspoint

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Brand ManagementAbout the TutorialBrand Management is the process of creating, developing, and supervising the progressof a brand. This tutorial introduces you to various categories of brands, their architectures,extensions, and promotions. It also introduces brand equity, co-branding, brandperformance, and valuation.This tutorial will teach you the basic terms in branding and provide ideas on how to managea brand right from creation to its valuation.AudienceThis tutorial is meant for all those readers who would like to understand the basics ofBrand Management. It will be immensely useful for management students who are keento make a career in Marketing.PrerequisitesWe assume the reader has a basic knowledge of business administration and marketingconcepts. Creativity, analytical thinking, strategic thinking, and good communication skillsare a plus.Disclaimer & Copyright Copyright 2015 by Tutorials Point (I) Pvt. Ltd.All the content and graphics published in this e-book are the property of Tutorials Point (I)Pvt. Ltd. The user of this e-book is prohibited to reuse, retain, copy, distribute or republishany contents or a part of contents of this e-book in any manner without written consentof the publisher.We strive to update the contents of our website and tutorials as timely and as precisely aspossible, however, the contents may contain inaccuracies or errors. Tutorials Point (I) Pvt.Ltd. provides no guarantee regarding the accuracy, timeliness or completeness of ourwebsite or its contents including this tutorial. If you discover any errors on our website orin this tutorial, please notify us at [email protected]

Brand ManagementTable of ContentsAbout the Tutorial . iAudience . iPrerequisites . iTable of Contents . iiPART 1 – BASICS OF BRANDING . 11.Overview of Branding . 2What is a Brand? . 2Objectives of a Brand . 3What is Brand Management? . 3History of Branding . 4Brand Essence. 4Elements of a Brand . 5Brand Management versus Product Management . 7Brand Terminology . 72.Brand Diversity . 10Basic Approaches of Branding . 10Fast Moving Consumer Goods (FMCG) Brands . 10Commodities . 11Luxury Brands . 11Business to Business (B2B) Brands . 12Pharmaceutical Brands . 13Service Brands . 13E-Brands . 14Country Brands . 15PART 2 – INSIDE BRAND MANAGEMENT . 163.Brand Equity . 17What is Brand Equity? . 17Why does Brand Equity Matter? . 17Brand Decay. 174.Brand Equity Models . 19Aaker’s Brand Equity Model . 19Keller’s Brand Equity Model . 21What is BrandZ? . 23Brand Asset Valuation . 24Building a Strong Brand Equity . 24Building Brand Identity and Image . 255.Brand Architecture. 26What is Brand Architecture? . 26Types of Brand Architectures . 26Product Brand Architecture . 27Source Brand Architecture . 27Line Brand Architecture . 28ii

Brand ManagementMasterbrand or Monolithic or Umbrella Architecture . 28Choosing Appropriate Branding Strategy . 31Internationalizing the Architecture of the Brand . 31Classic Branding Dysfunctions . 31How to Name a New Product? . 32Group and Corporate Brands . 32Corporate Brands over Product Brands . 336.Brand Identity and Positioning . 34Six Faces of Brand Identity . 35Brand Knowledge . 36Brand Portfolios and Market Segmentation . 37General Steps of Brand Building . 38Identifying and Establishing Brand Positioning . 38Defining and Establishing Brand Values . 40Branding for Global Markets . 417.Brand Promotion . 43Why is Brand Promotion Required? . 43Brand Promotion Methods . 43Role of Brand Ambassadors and Celebrities. 44Online Brand Promotions . 468.Brand Extension . 47What is Brand Extension? . 47Line Extension . 48Brand Extension . 48Brand Adaption Process . 49Brand Adaption Practices . 49Factors that Influence Brand Extension . 49Rebranding . 50Relaunching . 529.Co-branding . 54What is Co-branding? . 54Types of Co-branding. 55Situations for Co-branding . 55Points to Note before Co-branding . 55Co-branding for Business Growth. 56Celebrity Endorsement . 57PART 3 – MAINTAINING THE BRAND . 5910. Brand Performance . 60Launching a Brand .