Strategic Brand Management - The Beginner's Guide

I've selected this topic, since it's very important to understand the various aspects in the  PROCESS of strategic brand management. The process of strategic brand management basically involves 4 steps: 1. Identifying and establishing brand positioning. Brand Positioning is defined as the act of designing the company's offer and image so that it occupies a distinct and valued place in the target consumer's mind. Key Concepts: Points of difference: convinces consumers about the advantages and differences over the competitors Mental Map : visual depiction of the various associations linked to the brand in the minds of the consumers Core Brand Associations : subset of associations i.e. both benefits and attributes  which best characterize the brand. Brand Mantra : that is the brand essence or the core brand promise  also known as the Brand DNA. 2. Planning and Implementation of Brand Marketing Programs Key Concepts: Choosing Brand Elements: Different brand el...

The word "brand" is derived from the Norse Word - brandr, which means "to burn", That is, the livestock owners used to brand their animals so that they could be identified. Though the American Marketing Associations (AMA) defines a Brand  as a name, term, sign, symbol, or design or a combination of them to identify the goods and services of the seller and to differentiate them from those of the competition.  The elements such as name, term, sign, symbol and design are all known as brand elements . Brand v/s Product A product is anything offered for attention, acquistion, use or comsumption that satisfies a need or want of the market. A product is usually tangible. For example, automobiles, tooth brushes, FCMG products, etc. Similarly a product which is intanglible is called a service. For example, airlines, saloons, insurances, etc. A brand is more than a product because it has more dimensions that differentiate it from other prodcuts which satisfy similar...