INTRODUCTION: In an increasingly competitive world market, a key component of a healthy product line is often the brand that accompanies it – the intangible but unmistakable value of marks such as Cosmopolitan®, Coke® or McDonalds®. As valuable assets of your business organisation, they realistically demand the same level of attention as the equipment in a factory or the money placed in lucrative investments. While branding programmes are industry and product specific, the basic steps necessary to sustain underlying marks demonstrate some consistency.
Since brand management is much more than just marketing your brand, it requires involvement from people at all organizational levels, from your CEO to the individuals who create the products/services and those that interact with customers to provide sales, customer service or technical support on those products/services. This journey, from brand promise creation to delivering the promise offers many opportunities to influence customer advocacy and create brand loyalty.
Effective brand management requires more than managing the primary brand elements of strategy, positioning, and identity. Components of Effective Brand Management include are: Transparency, Communication, Community, Engagement, Consistency and Integration.
- To know the various branding tools and models, current trends and dynamics in global branding.
- To facilitate sharing research based knowledge among academicians and practitioners on contemporary areas of Brand Management.
The brand Managers use various tools to manage effectively manage brands.
Study is going to be conducted in the district of Mumbai in Maharashtra.
A questionnaire survey will be conducted for the purpose of the study. The study is based on primary as well as secondary data. Primary data will be collected from a sample of 75 respondents of Mumbai district chosen using non-probability judgment sampling and using a structured questionnaire.
Secondary data is the data, which is already in existence. It will be collected mainly through internet and some help will also be taken from books and articles. Secondary sources of data will include publication of Self Help Groups, Journals and Periodicals.