Brand management: Difference between revisions
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'''Brand management''' is the application of [[marketing techniques]] to a specific [[product (business)|product]], [[product line]], or [[brand]]. It seeks to increase the product's ''perceived [[value]] to the customer'' and thereby increase [[ | '''Brand management''' is the application of [[marketing techniques]] to a specific [[product (business)|product]], [[product line]], or [[brand]]. It seeks to increase the product's ''perceived [[value]] to the customer'' and thereby increase its [[price value]]. | ||
Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with present and future purchases of the same product. This may increase sales by making a [[comparison shop|comparison with competing products]] more favorable. It may also enable the manufacturer to charge | Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with present and future purchases of the same product. This may increase sales by making a [[comparison shop|comparison with competing products]] more favorable. It may also enable the manufacturer to charge a [[price premium]]. The value of the brand - its [[brand equity]] is determined by the amount of profit it generates for the manufacturer. This results from a combination of increased sales and increased price. | ||
:'''Brand management''' is thus the exploitation of positive [[repute]] and association of one's [[service]]s with [[good thing]]s, thus making it appear as a [[good thing]], regardless of its actual [[comprehensive outcome]]. One point of view is that this is diametrically opposed to the goal of [[Consumerium Services]], which will apply negative [[repute]] to prevent some purchases that would otherwise have occurred. | :'''Brand management''' is thus the exploitation of positive [[repute]] and association of one's [[service]]s with [[good thing]]s, thus making it appear as a [[good thing]], regardless of its actual [[comprehensive outcome]]. One point of view is that this is diametrically opposed to the goal of [[Consumerium Services]], which will apply negative [[repute]] to prevent some purchases that would otherwise have occurred. | ||