Subject Scope: Business, Marketing
Building a powerful brand requires determining the tangible characteristics of the offerings that carry the brand name and the benefits the customers accrue from those benefits and the psychological or emotional benefits of the products. This notion may be described as what "value" means to a typical loyal customer; and what, ultimately, is the essential nature and character of the brand over time. Brand Management is an advanced marketing course that will prepare students to lead a brand- centered marketing team in the consumer products/services arena. The emphasis in the book is on marketing plans and day-to-day decision-making. Marketing decisions are usually made in a context of imperfect information, decision models that combine analysis with judgment, and a marketplace that is fast-changing.
Innovative and groundbreaking ways of thinking about branding are constantly developing and brand architecture is anew strategic process evolved in this field. Brand architecture is an organizing structure of the brand portfolio that specifies brand roles and the nature of relationships between brands. The brand architecture schemes have been referred to brand equity charter, leverages, brand profitability and the new rules of brand management leading to efficacy of the attributes, derived advantages and brand system emerging in relation to the buying power of the customers. Brands play a significant role in developing marketing strategies of specific product categories in a firm. Coherent international brand architecture is a key component of the firm's overall marketing strategy as it provides a structure to leverage strong brands into other markets, assimilate acquired brands, and rationalize the firm's branding strategy.
This book introduces conceptual understanding of this new framework and prepares a reader to successfully contend with these realities in a brand management or other marketing related position. Ideally, the marketing decisions will be guided by how consumers interact with brands and how they are impacted by new technologies in the marketing field. The discussions on various vital factors of brand management including value proposition for creating a strong brand and the relationship between branding, customer loyalty, pricing and market leadership have been argued on applied perspectives. Learning the principles of brand management, students utilize newly acquired knowledge to build a plan to make products brand leaders. In broad terms, the objective of this course is to develop a managerial perspective regarding brand management and the strategic role of branding. The core emphasis is on the decisions associated with the formulation and implementation of brand management strategy in a strategic marketing context.