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 equity]]. | '''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 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 present and 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. This results from a combination of increased sales and increased price. | 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 more for the product. The value of the brand 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. | ||