INTRODUCTION
Brand Building and Management is when a consumable item is being marketed or sold to a consumer or retailer. Building is known as creating, constructing, developing something, being it a house, a car, a product, possibly even a person (Justin Bieber for example), and also including, a brand. Developing the brand to grow larger, grow stronger, increase the demographic variety to use/consume the brand, to increase and better the brand all together. Management- this is where the “w” questions will be asked; “Who?” will be managing your brand, “why?” would you let this person manage your brand, and so on.
Brand Building is defined by QFinance 2009 as: “the establishment and improvement of a brand's identity, including giving the brand a set of values that the consumer wants, recognizes, identifies with, and trusts. Values developed in the process of brand building include psychological, physical, and functional properties that consumers desire and should always identify a property that is unique to that brand.”
Management is defined by Brevis, Cronje, Smit and Vrba as the necessary activities for an organisation to function, by using the process of controlling, organizing, leading and planning of the available resources to achieve goals by using as little of the resources as possible.
Included in the degree, is a wide variety of studies ranging from Economics to Finance.
PURPOSE AND KEY FUNCTIONS Goodson suggests that branding is fundamental. Branding is basic.
Management is the allocation of scarce resources against an organization 's objective, the setting of priorities, the design of work and the achievement of results. Most important, it 's about controlling.
According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental
A brand is what can either attract people to you or make people avoid you; people would identify you by the brand you portray. One can communicate their brand through actions and words. “It is essential to understand that wherever we are, in whatever we do, we are all building our brand”.
According to the American Marketing Association (AMA), a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”. However, as Keller highlights, a brand is also “something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace”. Therefore, a brand is an identity created to differentiate itself from the competitors and to be remembered in consumer’s mind.
Manras (Brand and its Importance, 2011) defines brand as a sign, symbol, name, term or design or a mixture of them, which is designed to recognize the goods and services of one seller or group of sellers and to differentiate them from the competitors. Do not stop at tangible aspects, a brand also implies emotional one, such as personality, value, attitude and a story behind the brand.
Management equals having the ability to lead, plan, organize, control, make decisions, and direct others in achieving an organization’s goals and their mission. Managers perform many
Branding Principles : Branding refers to brand name to particular product of a particular organization that such a product is produced by organistion if the brand name of company is strong it means it fully meets the expectations of customers.
Marketing is the process of creating, communicating and delivering benefits that have value for customers (Johnston, 2015). Branding is the process of creating a unique name and image for the product in consumers’ mind (BusinessDictionary.com). A good marketing and branding strategy helps the organizations to create products and services with best chances of making profits, set apart from your competitors, customer satisfaction, and greater sales motivates the employees to achieve more. Principles of branding are differentiation, focus, simplicity, consistency, and visual appeal. The two main theories/principles used in marketing are McCarthy’s 4 Ps and Porter’s 5 forces.
The definition of management is to exercise executive management, administrative, and monitoring of a group or organization.
By definition, a brand is a trademark or goods of a particular make, a mark of identification made with a hot iron and an offering from a known source. A brand is a term, sign, symbol or design or a combination of them that helps consumers identify the goods and services of one seller and helps them differentiate them from those of competitors. A brand involves companies addressing customers needs by creating a value proposition and a set of benefits that satisfy those needs as well as an intangible value propostion through offering a combination of products, services, information and experiences. In order for a brand to be established as a brand it needs to obtain a name, visual identity, product/service/offering, and a USP. Nando’s
From the professional perspective, to build corporate brand building is to build CI (Corporate Identity) including mind identity, behavior identity and visual identity.
Developing a brand should mean completely and precisely defining it beforehand. As you expand on the identity you want your brand to have, make a list of predefined characteristics and aim to achieve the end identity based on your list. How do you want people to respond when they see your logo? What personality and traits do you ultimately want your identity to reflect? In order to create the end product, your chosen brand identity, incorporate the following concepts into the visualization and development process:
In today’s dynamic and ever changing market. The marketers are finding very difficult to differentiate their products from the competitors. The tastes of the consumers are changing frequently. Therefore, the companies have to always take this into consideration about brands the products in order to create image in the customer mind. So the company has to fulfill the needs and wants of the customers. Brand is the personalities of the product and brand positioning is a key to the success of marketing in any company.
In addition, your brand is all about the components that creates a brand that includes logo, packaging, colours,
Management can be defined as the art or act of doing things or activities through the efforts of other people to accomplish desired goals. It deals with the organising and coordination of people, activities, materials, machines and money.