What is Brand Management?
Branding Management is a communication studies that deals with the management of a brand to make sure that the brand image reflects the best of its qualities to the customers. It is concerned with the positioning of the brand in customer’s heart.
Brand Image has two parts:
• concrete or tangible qualities and
• abstract or intangible qualities.
Tangible qualities include the product, its utility, price, packaging etc. and intangible qualities include mainly the customer experience.
Good tangible qualities ensure a better customer experience and hence better brand management.
Brand management is also about building an emotional bond with the customers.
Mostly Brand Management is very much related to advertising and has many things in common to Marketing management.
Prospects of Brand Management
In a growing competitive market where customers are faced with many brands every day, it becomes increasingly tougher and inevitable to make a brand, the customers’ favorite and hence raise the number of brand loyalists.
Indeed, it is not easy and very challenging. The more the challenging, the more is the scope of innovation and growth but also competition.
A career in brand management can be very random and hence require a lot of perseverance and passion to make the best out of it.
The annual compensation of a Brand Manager can average around Rs. 7 lakhs and that of an Assistant Brand Manager be around Rs. 5 to 6 lakhs, depending upon the location, skills and other criteria.
How to pursue a brand management career?
Like any other management related course, brand management has many courses from graduation to post graduation. Similarly like any other management course, an MBA degree in Brand management would fetch a good career with a strong remuneration.
There is a sister course of brand management known as luxury brand management taking care of international fashion brands. MBA in luxury brand management is a niche course offered by many International universities.
There are certificate and diploma programs as well.
Brand management related courses
• Master of Business Administration
• Post Graduate certificate/diploma courses
• Bachelor’s degree like B.A (Hons) Luxury Brands
Brand Management Profile
• Brand Image: Brand management team is responsible for the brand image of products in customer's mind.
• Market watch: Keeping a watch over the competition in the market where the product is positioned and coming up with strategies keeping in mind the competitor’s strategy.
• Understand brand values: To make an emotional connect with the customers’, the brand management team must very well understand the values that the brand has to offer.
• Corporate Social Responsibility: Giving a human emotional touch to the brand can be realized through CSR or Corporate Social Responsibility. Such strategies can be brought up by the brand management team.
• Build business strategy: To come up with brand strategies and exploit the market at the right time to build the brand value.
What do marketing professionals learn?
• Brand building
• Brand Analytics
• Brand meaning
• Brand positioning
• Brand equity
Institutes in India
Many institutes offer brand management mostly in the post graduate level including the IIMs.
Few other institutes to offer MBA in brand management are
• Indian Institute of Planning and Management
• Indian Institute of Science and Management
• Xavier Institute of Management and Entrepreneurship
• SP Jain Institute of Management and Research
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