The paper "Brand Management and the Challenge of Authenticity" is an outstanding example of marketing coursework. Brand management is a marketing communication function that comprises analyzing and planning how the brand is positioned in the market. Creating an excellent target market relationship is extremely significant for brand management. Tangible aspects of brand management include the products, price, look, packaging, and other elements. The intangible aspects include the experience derived by the consumer from the brand, alongside the relationship the consumer and the brand have. It is the responsibility of the brand manager to oversee all these aspects.
This paper will, however, review five articles that discuss different issues of brand management, together with their key implications. Brand management and the challenge of authenticity Most marketing executives concur that their efforts should be focused on growing the lifetime value of their clients. Nonetheless, extremely few companies have realized the implications of that perspective for their management of marketing. For instance, Oldsmobile enjoyed exceptional brand equity with a vast number of customers in the 1980s. However, as time passed, the individuals who loved the Olds got absolutely old.
The question here is therefore why General Motors’ (GM) squander an extremely long time, as well as, a lot of money in efforts to refurbish and reposition the tired and tarnished brand. Why did the managers of GM rather not move younger customers along a less resistance path, towards another of the GM’ s stable brands or even launch an entirely new brand that was focused on their tastes? Catering to new clients, even at the expense of the brand, would have been the road to profits. The author argues that the reason is that in large consumer goods companies such as GM, products are the raison d’ ê tre.
Brands are the focus of making of decisions, as well as, the accountability basis (Beverland pg 461). However, this extreme focus on brand equity growth is incoherent with the objective of customer equity growth. Drawing on a diverse range of present examples, seven tactics are presented by the authors, which will place brands in the service of customer equity growth. They comprise of replacement of convectional brand managers with new positions, targeting brands to the narrowest audience possible, the customer section manager, developing the ability, alongside the mind-set to hand off clients from a brand to another within the organization, and changing the manner in which brand equity is evaluated by basing calculations on individuals, instead of average, client data. Summary of key implications Consumers can pre-assume on their own that brands have authenticity on the basis of the mental perspectives of the consumer of the manner in which thing should look.
For instance, tourist desire the trappings of authenticity for their travels, while, at the same time, they do not intend to tolerate the hardships faced by the local communities who are the inhabitants.
Thus, updated styles of previous brands are authentic for some since they work, as well as, give pleasure, instead of being true to the initial ones (Beverland pg 461). Thus, brand managers require developing systems behind-the-scenes that make them look less commercialized. To balance the pressures of creating systems behind-the-scenes, companies should detach proper structures and daily activities so as to sustain moral legitimacy, at the same time remaining profitable.
Thus, they should show the outward facade of conforming to the rules that are expected by their subcultures and communities, consumer informed innovations and market knowledge.
Beverland, Michael. "Brand management and the challenge of authenticity." Journal of Product & Brand Management 14.7 (2005): 460-461.
Hayes, J. Bryan, et al. "Looks matter in developing consumer-brand relationships." Journal of Product & Brand Management 15.5 (2006): 306-315.
Koubaa, Yamen. "Country of origin, brand image perception, and brand image structure." Asia Pacific Journal of Marketing and Logistics 20.2 (2008): 139-155.
Rajagopal. "Brand excellence: measuring the impact of advertising and brand personality on buying decisions." Measuring Business Excellence 10.3 (2006): 56-65.
Rindell, Anne, and Tore Strandvik. "Corporate brand evolution: corporate brand images evolving in consumers' everyday life." European Business Review 22.3 (2010): 276-286.