Brand management: Difference between revisions
link value, marketing techniques
(changing "copied" to "portions copied" to allow for our changes; by the way, the GFDL does not require back-links to any specific copy, we should refer to w: if we find it in our interests only) |
(link value, marketing techniques) |
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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 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. | ||