Brand management

Brand management in marketing begins with an analysis of how a brand is currently perceived in the market, continues with planning how the brand should be perceived in order for it to achieve its objectives, and then concludes with making sure that the brand is perceived as planned and achieves its goals. In order to effectively manage a brand, it is necessary to cultivate strong relationships with one's target audiences. The product itself, as well as its appearance, pricing, and packaging, are examples of tangible aspects of brand management. The target audiences' experiences with the brand, as well as the connections they have with the brand, are examples of intangible components. These may be both positive and negative. A brand manager is responsible for managing all facets of a consumer's connection with a brand, in addition to managing relationships with other participants in the supply chain.

According to Hislop's definition, branding is "the process of creating a relationship or a connection between a company's product. Both Kapferer and Keller, in their separate works published in 2004 and 2008, described it as a fulfilment in customer expectations as well as continual customer pleasure.

In order to raise consumers' estimations of a product's worth, brand management employs a wide variety of marketing strategies, tools, and practises. In accordance with the objectives of the predetermined marketing strategy, brand management makes it possible for the price of goods to increase and cultivates consumer loyalty by associating positive connotations and images with the brand or creating a heightened awareness of it.

The act of determining a specific brand's fundamental value and conveying that fundamental value to the consumers who are the focus of brand management is known as "brand management." In today's parlance, a corporation, product, service, or even an individual may constitute a brand. Brand management develops credibility for the brand, and only credible businesses can establish brand loyalty, recover from situational crises, and gain from consumers who are price sensitive.