Basic Principles of Brand Management

It’s really important though that you realize you can only reap these benefits if you remain committed to the strategy and the tactics that your brand management efforts are based upon.

You cannot perform one or two things and then expect to see the benefits. You need to stay on the journey. Basic Principles of Brand Management

The basic principles of brand management are not a long list

Also, you cannot simply implement one principle without the rest, the brand management machine will not run without all the gears in place. It would be like trying to implement social media tactics without a solid digital marketing strategy, a big no-no!

Brand equity is what changes the value of your product or service simply because it’s sold as part of the brand and how it’s viewed. People will R&D Directors Email Lists
trust brands over products and services every time.

What does this all mean? Well, brand equity is what gives you the chance to increase prices simply because your brand’s perceived as high in the market. 2. Brand Recognition

Brand recognition is almost completely self-explanatory. You can describe brand recognition as how easy it is for audiences and consumers to recognize and identify your brand without seeing the name or hearing it said.

The best way to describe this is how easy it would be for you to recognize a famous brand simply by seeing its logo or iconography. Imagine how easily you would identify Coca-Cola just by seeing the two C’s that make up their logo.

Also, a good example would be if you’ve been scrolling Facebook and Instagram only for a video ad to start playing, and before the name of the brand has even shown up, you know who it belongs to.

THAT is brand recognition at work.

R&D Directors Email Lists

If you can create that, it’s so powerful for your brand to connect with customers in that way. 3. Brand Loyalty

Now, there’s virtually no point to brand equity and brand recognition if you cannot get them to do the second lap in the race. How do you go the distance?

Easy. You get your customers to come back for more. Time and time again.

Brand loyalty is just that. Over time, with positive experiences and good service, you’ll begin to promote healthy relationships with your customer base. This means that the people who buy from you will become hopelessly devoted (Thanks Olivia Newton-John!) to you and will not be open to buying from your competitors.

Leave a comment

Your email address will not be published. Required fields are marked *