By Amandeep Kaur
“Your brand is the single most important investment you can make in your business.” – Steve Forbes
Well there are so many brands selling different products. But have you ever wondered why some products are so successful while others struggle to acquire customers? The answer is simple and straightforward- brands that are successful have brand managers that have reshaped and developed brand messaging that are appealing to both current and potential customers.
The Basics of Brand Management
You may have heard phrases like “billion-dollar mega brands,” “purpose-driven businesses,” and “most regarded brands.” A brand manager is the one who created each of these.
Brand management is a marketing function that uses tactics to gradually increase a product line’s or brand’s potential worth. Price increases and the emergence of dedicated customers are made possible by positive brand associations, aesthetics, or a high level of brand awareness. In order to manage a brand’s reputation, one must create a favourable first impression in the eyes of consumers and boost product sales and market share.
What does a brand manager do?
Brand managers are essential to today’s modern businesses. Their position is getting more sophisticated than ever with the introduction of artificial intelligence, data sciences, social media, digital marketing, growth hacking, personalised marketing, among others.
One of the responsibilities of a brand manager is to monitor market developments. They increase consumer trust in the brand, manage its reputation, assess product-market fit, create marketing and advertising strategies, and design packaging that is consistent with the brand’s identity, purpose, and vision.
What differentiates a marketing manager from a brand manager?
A brand manager is responsible for brand strategy, which is the narrative that a business delivers to its customers about what makes its products special, what we provide that no one else does, and why or how it benefits the client. A marketing manager, on the other hand, is in charge of client outreach strategies for the business.
Successful brand managers have five key traits
- Love for storytelling
- Ingenuity and the capacity to extract customer insights
- A data-driven perspective that is strategic and analytical
- Knowledge of social media and technology
- Communication, presentation, and persuasion abilities
Types of a Brand Manager
Marketing Executive: Marketing Executive: The marketing executive of a company is tasked with managing and directing the marketing strategy. The marketing executive must decide how to employ marketing efforts to advertise or sell goods and services.
Marketing Analyst: The responsibilities of a marketing analyst include analysing the consumer behaviour of the company’s target market as well as keeping a close check on the market and the competition of the company they work for. The market analyst for a company helps in drawing conclusions about which product or service to sell, to which customer segment that establishes the target audience, and at what cost the product or service will be made available to potential customers.
Luxury Brand Manager: Luxury brand managers are in charge of upholding the communication and positioning strategies for exclusive businesses. They conducted market research, set prices, and estimated the profitability of the products and services.
Advertising Manager: Advertising managers make sure that advertisements for products or services are placed in the relevant media and are viewed by the target market.
Content Manager: A content manager is in charge of the overall communications plan for the brand. All material must be delivered in conformity with the brand’s values, beliefs, and procedures.
Marketing Director: Making all of the company’s strategic decisions falls within the purview of the marketing director, also known as the strategic level manager. The marketing editor also renders opinions on sales, merchandise, and brand statements.
Product Manager: Roles where you work closely with the design team to realise the product plan are becoming more and more in demand. Aspects of the work include comprehending the customer experience, spotting and resolving product gaps, and creating novel ideas that expand market share.
To Conclude
Brand management is a marketing function that employs strategies to raise a product line’s or brand’s perceived value over time. Through strong brand awareness and positive brand associations, effective brand managers help items or services command a premium price in the market. Today, brand managers are responsible for practically all industries, all products, and even countries that are successful or famous.
The author of this article is founder, CEO, Phoenix TalentX Branding. Views expressed are personal.
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