Page 52 - IMDR - Journal of Management Development and Research - March2019-20

BRAND MANAGEMENT:
Brand is the identity of a Product. Ensuring a better brand value is the present focus of

every company and this is massively because the competition is huge. Referring to
Kotler’s thought, “A Brand is a Name, Sign, Symbol, term, design or combination of

them which is intended to identify the goods services of a seller or group of sellers
and to differentiate them from those of competitors.” The Brands enjoy a Functional

& emotional attribute. They occupy the space in the mind of the consumer. Brands

matter because they are growth prone, they promise to deliver value, they meet
expectations of the consumers, they help to differentiate, they help in promotion of

the product and most importantly they connect with the consumers. Positioning of the

brand is utmost important. Brand Positioning should shape customer’s opinions of the
brand, and guide them to know what makes this brand unique in the marketplace.

Brand positioning involves the setting up of a frame of reference for the customers.
Brand Management requires a defined approach in terms of developing & retaining a

brand position. The exercise later shall also require brand repositioning exercise.
Cinthol almost a decade back had to go for brand repositioning with a range of new

products and improved packaging. Nano had to reposition with shift from Low

income class car to car for youth. Nokia’s story suits the repositioning & re-launch of
the products. BlackBerry had to launch the Black Berry Boys campaign as part of the

repositioning exercise.

The marketers may attempt
branding of products while

ensuring & considering the

following aspects, i.e.,
Customers are the base of

the branding decision,

Marketers must not take
Short Cuts as haste is

waste, Brands must have
multiple approach, brands must resemble excellence of the product and branding

must be a focused approach. Marketers must understand that the strongest of the
brands merge strategies that appeal to both the rational and emotional sides of the

51 | P a g e