Brand management is a marketing process that uses various measures to increase the perceived value of a product line or brand over a period of time. Proper brand management efforts allow the price of the products to rise and help build a loyal customer base through positive brand associations and images or a strong awareness of the brand.( Product Churn)

In this blog, you will learn about the principles you need to follow during brand management to achieve the desired results. Conducting a cost-benefit analysis of the decision is always better. (Corporate Strategy Assignment Help)

  1. Brand Awareness:

As a brand manager, you need to pay a great amount of attention to creating awareness about your brand among the target group. Your objective should be to help your brand reach more and more people with time. If your business has made foreign direct investment in a country, you need to make sure your brand is able to reach the target audience in the country. (Dissertation Abstract, Online Shopping Cart System)

  1. Brand Recognition:

You also need to figure out ways to make your brand a familiar name for the people in your target market. You can create a catchy song or jingle and use it in your advertisement. You can even prepare a dialogue or a gesture with which people easily recognise your brand.

  1. Brand Reputation:

Once you can create some awareness and recognition for your brand, you need to build a good reputation for the brand in the market. You should aim to create a reputation that cannot be easily destroyed. As you may know, Rolls Royce is one of the top automobile manufacturers in the world. Even though they do not advertise, people are aware of their reputation.

  1. Brand Equity:

This term refers to the value your brand name has gained among the customers over a certain period of time. When your brand name is easily recognisable, people start preferring your brand over other generic products, even if your prices are higher. The Rolls Royce example is applicable here as well.

  1. Brand Loyalty:

Finally, it is important for a brand to build brand loyalty as it allows your loyal customers to propagate your message to other people. And since it works as word-of-mouth, it has more credibility than promotions.

If you want to be a brand manager someday, you need to better understand all these principles of brand management.

Source: https://www.debwan.com/blogs/85430/5-Major-Principles-of-the-Brand-Management-Process