Issues of Brand Management - Research Paper Example

Brand management Name Institutions Background Marketing management is very important for performance of an organization. Brand management is one of the issues of marketing management that are very important being undertaken by the marketing managers (Hanna, & Rowley, 2011). Brand management refers to a marketing communication function that entails the planning and analysis of the brand position in the market (Qian, 2014). This is where the marketing managers uphold, improve, and maintain the company’s brand for it to be connected to positive and good results in the market (Gatti, Caruana, & Snehota, 2012). It is clear that brand management is involved in some aspects, such as competition, presentation in the workplace, customer satisfaction, as well as the cost incurred in the company (Asmussen, Harridge-March, Occhiocupo, & Farquhar, 2013). It is clear that, through the marketing foundation, that is where the brand management is created, but the focus is on the improvement of the brand and making the name to be liked by customers (Högström, Gustafsson, & Tronvoll, 2014). This report seeks to review a number of articles, which have research concerning the topic of brand management. The report ends with personal comments and recommendations on the issues covered by the articles. Research issue(s) and identified problems There are a number of issues and problems identified in the articles under review and they include the following; Importance of brand management; According to the research done by Högström et al. (2014), brand management is a very important practice that enhances improved performance of an organization. Asmussen et al. (2013) also agree with the author and add that brand management can be effective if the marketing managers realise the goals and objectives of an organization. Brand management is a major part of the company’s business whereby it enhances exploitation of the market opportunities, and increased sales’ volume. Hanna and Rowley (2011) state that, effective brand management enhances competitiveness of a company in the market. Activities conducted during the process of brand management; Gatti et al. (2012) identified a number of activities that are supposed to be conducted during the process of brand management. ultimately, such activities include; selection of a good and attractive brand communication of the brand image to the customers, setting positioning strategies, and maintaining the brand image. Kotler and Keller (2012) also identified the need of establishing a brand position in the market during the moment of market entry. Factors enhancing brand management. According to a research done by Mullinsand Walker, Jr. (2012) brand management is influenced by a number of factors, such as the marketing mix. In addition Qian (2014) identifies the need of implementing positioning strategies in the market to ensure that the brand image retains a good value. Kotler, Keller and Burton (2009) state that, the image of the product is very important in enhancing brand management whereby customers have to be satisfied with the product they get from the company not only the attractive name of the company. The issues to deal with during brand management. Marshall and Johnston (2011) argue that, there are different issues that are connected to brand management and they include; customer satisfaction, consumer resistance, consumer’s mind, the extra value proposition, as well as the products and the consumer personality. According to Gatti et al. (2012), consumer might resist to use a company’s product because of their changed habit whereby they might decide to wait for another product. This might cost the brand of the respective company. In addition, Asmussen et al. (2013) argue that, to enhance brand management, customers must be satisfied with the company’s products and services. According to Högström et al. (2014), the mind of customers is very important because that is what directs them to purchase a product from a certain brand. Identified marketing theory/theories There are several marketing theories identified in the articles under review in this report. Such marketing theories include; SWOT analysis, stakeholder map, PESTEL Analysis, Maslow’s hierarchy of needs, the marketing environment, Boston consulting group matrix, the consumer decision-making process, and segmenting consumer markets. According to Hanna and Rowley (2011), brand theories, as well as ideas are essential in brand management because they enhance practice of effective brand management. The authors state that, it is very important to undertake a SWOT analysis in order to understand the strengths, weaknesses, opportunities, and threats of the respective brand. This enables the marketing managers to identify the parts that require improvement for the success of the brand. In addition, Jin (2012) argue that, during the brand management, consideration of stakeholders is very essential. This is because it shows the connection of the company and the public or the outsiders. Högström et al. (2014) add and state that, a brand has to be connected to the media, local government, central government, local community, the environmental group, the financial analysts, and shareholders. The consumer decision-making process is another marketing theory identified by Asmussen et al. (2013), and argue that, a brand has to identify the need of the customers, and how they are satisfied with the product they decide to purchase. The theory of marketing environment enables the marketing managers to identify the factors that influence delivery of customer satisfaction from the micro- and macro-environment. According to Qian (2014), the theory of segmenting the consumer market enables the marketing managers to undertake the process of brand management through understanding the behaviour, profile, and psychologic issues that affect consumers. Maslow’s hierarchy of needs is anther marketing theory that is identified by Homburg, Kuester and Krohmer (2009) and state that to market a brand to the customers, it is necessary to understand the self, social, and physical needs of the customers in order to try and meet them for satisfaction of the customers. It is evident that customers are very important in enhancing brand management and position in the market. In addition, Gatti et al. (2012) point out that the use of Boston consulting group matrix as a marketing theory enables the marketing manager to identify the market share of the brand and the level of market growth. Another theory identified by Barrow and Mosley (2011) is the marketing theory of PESTEL analysis whereby a marketing manager is supposed to consider the; political, economic, social, technological, environment and legal issues that are likely to influence the success of the respective brand. Major findings Brand management enhances increased value of the brand and the product with time. According to the argument put forth by, implementation of effective brand management practice makes it possible for the brand to build customer loyalty and increase the product price, and create a strong awareness of the respective brand in the market. It is clear that, the brand can remain constructive to the customers if it is properly managed, as it allows increase in sales of the specific product, and other related products that are connected to the respective brand. As articulated by, Gatti et al. (2012) when a customer purchases a product and likes the brand, the same customer is likely to purchase other products produced by the company. Hanna and Rowley (2011) state that, brand marketers have to learn different ways of marketing the brand in order to win a good market position. As postulated by Asmussen et al. (2013), brand management is associated with delivery of profit, market share, and sales’ volume projections of a company. Ultimately, management of a single brand makes a company to acquire a strategic advantage over the companies that do not manage their brands. Brand management can be done online for its effectiveness. This is where the brand manager requires being focused at the online business consequences and understands how customers make their respective decisions. It is evident that this leads to easy customer reach and brand growth. In addition, the brand guidelines separates the brand from the competition whereby it includes, the logos, imagery, colors, fonts, digital elements, and messaging of the brand. The brand representatives should be educated about the brand to enhance customer interaction and there should be provision of a response and discussion about the brand comments made online. It is also necessary to use the brand management techniques that are available. It is apparent that, good brand management enhances growth of the company’s revenue because of increased sales. Kapferer (2012) states that brand image communicate the purpose and focus of the brand and the message to enhance customer satisfaction. According to Qian (2014), in order to have an effective brand management, it is necessary to build a good relationship with the establishments that offer brand reviews. Ultimately, creation of a brand profile through the social media is very important because it creates awareness of the brand. Additionally, there should be relevant and regular brand blogs created to make it accessible to potential customers. As stated by Högström et al. (2014), for effective brand management, the product or the service has to be exceptional to have positive views. Campaign of brand value should require to be based on profitability. There are other principles associated with brand management, such as differentiation of the product in the market. As argued by Sahin, Zehir and Kitapçı (2011), successful brand management has to be accompanied with marketing of a unique product in order to capture the minds of the consumers and to enable consumers make the right choices regardless the competition in the market. Additionally, it is necessary to show focus when entering into the new market and the brand should have a specific goal in order to succeed in the market. Phan, Thomas and Heine (2011) state that, during the brand management, the brand manager should focus on the essential things and leave others. It is necessary for the brand to be looking good physically in order to appeal to the customers and it has to be consistent in the competitive market. It is perceptible that, management is more involving than the marketing activities because it requires development and management of the product in the market in order to have a good relation and image among the competitors. As identified by Högström et al. (2014), the company brand marks its difference from the brands competitors. Implications for marketing managers For effective brand management, marketing managers have a great role to play. It is clear that, brand management is the responsibility of the brand or the marketing manager with assistance from the brand representatives. According to the argument put forth by Bjørnå, Byrkjeflot and Salomonsen (2014) marketing managers have the responsibility of understanding and showing the value of a specific brand in order to enhance creation of its awareness in the market. Additionally, the managers should know the brand competitors in order to make the brand very different from those ones of the competitors for competitive advantage in the market. As articulated by Asmussen et al. (2013), marketing managers require having skills associated with sales, advertising, and marketing in order to conduct effective brand management. The marketing managers should understand how to persuade the customers and to win customers’ trust during market entry, as well as gaining a good reputation from the customers’ comments. It is the responsibility of the marketing manager to look for the best marketing method, such as online marketing or through the print media. Jin (2012) states that, it is the responsibility of the marketing manager to come up with a brand personality that is powerful. Phan et al. (2011) point out that, when marketing a brand, the marketing manager should make use of the current media, such as online marketing. It is also necessary to keep the profile of the brand being high and consistent to enhance its competitiveness. As stated by Bjørnå et al. (2014), the brand manager should be engaged in a wide network of professionals in the marketing world in order to gain more skills from them. Sahin et al. (2011) add and state that, it is very essential to conduct a market research in order to understand the customer behaviour and perception about a specific brand in the market. It is very important for a brand manager to understand the brand focus and the customer emotions in order to create effective brand personality and to acquire a good market position. The positioning strategies should be focused whereby the brand managers take good control and maintain the image of the brand in the market. According to Gatti et al. (2012), the brand managers should utilize the best brand marketing theories that would allow the brand to be competitive and successful in the market. It is also essential for marketing managers to ensure customer satisfaction with the nature of the brand. It is very necessary for the marketing manager to have experience and skills in sales, promotions, and advertising. It is noticeable that, brands acts like businesses conducted within a company, thus making the brand manager to be identified as an owner to a small business. To enhance brand management, it is very essential to undertake supervision activities in the market to understand the competitiveness of the brand and to exploit the available market opportunities. The brand manager has to have the knowledge about the nature of the specific brand and for the brand management to be effective, the manager has to value it and understand the brand competitors. It is apparent that, brand management is the responsibility of the managers whereby they work towards improving the product or brand value for profitability of the company, as well as the respective shareholders. As pointed out by Högström et al. (2014), it is very important for the brand manager to view how the brand is viewed by customers online. This is done through looking at the comments and opinions in the brand website and in the social media where people hold online conversations. Comment and recommendations It is clear that, brand management is very beneficial to the companies because it increases band awareness to the potential customers and improves the performance of the product in the market. It is necessary for the companies to manage all their brands effectively in the market in order to be competitive and successful. Companies require setting appealing and attractive brand names to their products in order to win the loyalty of the customers and to have positive reputation in the market. It is the responsibility of the brand managers to ensure effective conduct of brand management activities. In addition, brand management or brand marketing should be done using the most effective marketing media, such as the online marketing or print media in order to reach many customers. It is very important for the brand managers to understand factors that are likely to influence the effort of brand management in order to get solutions to them. An effective brand management practice has to be accompanied with the ability to provide satisfaction to the customers and to win their trust by offering them quality product or service. There should be a good plan and strategies set before undertaking the process of brand management to enhance its success. Conclusion It is apparent that brand management reflects positively to the performance of the respective brand or the product in the market. Ultimately, brand management enables the company to do well even with other products because once customers purchase a product and like it, they are motivated to purchase the other products of the same company. It is clear that, brand management leads to increased sales, revenue generation, and profitability of the company. It is apparent that, once a company engages in brand marketing and management, it wins competitive advantage in the market over its competitors. In general, brand management makes the brand and the general company successful because it creates a good relationship between the company and its stakeholders. References Five journal articles; Asmussen, B., Harridge-March, S., Occhiocupo, N., & Farquhar, J. (2013). The multi-layered nature of the internet-based democratization of brand management. Journal of Business Research, 66(9), 1473-1483. Gatti, L., Caruana, A., & Snehota, I. (2012). The role of corporate social responsibility, perceived quality and corporate reputation on purchase intention: Implications for brand management. Journal of Brand Management, 20(1), 65-76. Hanna, S., & Rowley, J. (2011). Towards a strategic place brand-management model. Journal of Marketing Management, 27(5-6), 458-476. Högström, C., Gustafsson, A., & Tronvoll, B. (2014). Strategic brand management: Archetypes for managing brands through paradoxes. Journal of Business Research. Qian, Y. (2014). Brand management and strategies against counterfeits. Journal of Economics & Management Strategy, 23(2), 317-343. Other references; Barrow, S., & Mosley, R. (2011). The employer brand: Bringing the best of brand management to people at work. John Wiley & Sons. Bjørnå, H., Byrkjeflot, H., & Salomonsen, H. H. (2014). Reputation and brand management in Scandinavian municipalities. Scandinavian Journal of Public Administration, 18(1), 107. Homburg, C., Kuester, S. & Krohmer, H. (2009) Marketing Management- A Contemporary Perspective, McGraw-Hill Jin, S. A. A. (2012). The potential of social media for luxury brand management. Marketing Intelligence & Planning, 30(7), 687-699. Kapferer, J. N. (2012). The new strategic brand management: Advanced insights and strategic thinking. Kogan Page Publishers. Kotler, P. and Keller, K. L. (2012) Marketing Management, Pearson Education Australia, 14th Global Edition. Kotler, P., Keller, K. L., & Burton, S. (2009) Marketing Management, Pearson Education Australia, 1st edition. Marshall G. W. & Johnston, M. W., (2011) Essentials of Marketing Management. McGraw-Hill Mullins, J. W. & Walker, Jr., O. C. (2012) Marketing Management: A Strategic Decision-Making Approach, 8th edition. Phan, M., Thomas, R., & Heine, K. (2011). Social media and luxury brand management: The case of Burberry. Journal of Global Fashion Marketing, 2(4), 213-222. Sahin, A., Zehir, C., & Kitapçı, H. (2011). The effects of brand experiences, trust and satisfaction on building brand loyalty; an empirical research on global brands. Procedia-Social and Behavioral Sciences, 24, 1288-1301. Appendix-1 Author (s) DV=Dependent Variable IV=Independent Variable Relationship with DV Measurement used Country Method Number of Respondent & Response Rate Population size Survey method Unit of Analysis Asmussen, B., Harridge-March, S., Occhiocupo, N., & Farquhar, J. (2013) DV: Trust IV: satisfaction + From other relevant studies United Kingdom Quantitative 143 RR 63. 8% Personal interview Marketing managers Gatti, L., Caruana, A., & Snehota, I. (2012) DV: Trust IV: satisfaction + Field work USA Quantitative 278 RR 65% Questionnaire and survey Customers Hanna, S., & Rowley, J. (2011) DV: Trust IV: satisfaction + Relevant articles China Quantitative 200 RR 62% Mail survey Marketing managers Högström, C., Gustafsson, A., & Tronvoll, B. (2014) DV: Trust IV: satisfaction + Field USA Quantitative 302 RR 69% Personal interview Brand managers Qian, Y. (2014) DV: Trust IV: satisfaction + Other articles India Quantitative 150 RR 72% Personal interview and questionnaire Brand representatives Read More