Brand Management
Introduction
As per the American Marketing Association (AMA), the definition of a brand is a name, term, symbol, design or a combination of them, which is intended to identify the goods or services (Cohen, 2011, para. 3). These products may belong to one seller or a group of sellers and to differentiate them from those of competitors (Korchia, 2012 p. 13). However, there exist several other definitions for the term "brand." In such circumstances, it is always good to use a standard definition that can be used under every circumstance. The AMA definition is the best one ever definition for the word brand.
Brand management is the process of focusing, analysing and understanding how the customers perceive a brand. Brand management is an extensive field that involves a variety of activities, which revolve on the improvement of the product and how people view the product. It includes a range of activities such as; brand valuation, brand extension, brand association, employee brand engagement, cooperate branding and reputation management and branding over geographical boundaries (Korchia, 2012 p. 15). Brand management, therefore, involves both the intrinsic and the extrinsic characteristics of a brand that is the tangible and the intangible elements. The outer elements of brand management include the product itself, packaging, looks and the prices while intangible features include how the product interact with the customers.
Previously the content of brand management has been broadly studied. The studies have involved data collection, analysis and presentation in the form of information about brand management. Van Osselaer and Janiszewski, (2009 p. 209) exposition on brand management investigate the whole study into seven brand approaches. They stressed on the following seven points which are assumed to be very critical in studying brand management. The field discussion includes:
The economic approach which views a brand name as part of the marketing mix traditionally.
The method also identifies the brand name as associated with the corporate identity of a product.
The brand is linked to consumer associations according to consumer-based approach.
Personality approach, on the other hand, views a brand as a human-like character.
The other method is the relational approach which takes the brand to be a viable relationship partnership.
The community model identifies a brand as the pivot point of social interaction.
The cultural approach, which emphasizes that the brand name is part of the broader cultural fabric.
Brand Associations
In this literature review, the paper discusses the brand partnerships. Brand association is the degree to which a name is associated with the general product in the mind of the consumer. It may also refer to as anything deeply entrenched in the spirit of the consumer about a brand. A brand, therefore, should be related to something positive or interesting so that customers can relate to that brand. It is the picture that comes to consumers’ mind when the brand is mentioned. Producers and marketers are forced to produce highly attractive goods which are well labelled, choosing a brand name and also product positioning. States that brand association plays a significant role in customers’ brand evaluation and choices. Brand associations are relevant to consumers understanding of decision-making, product evaluation, categorization, persuasion and brand equity. Brand association can also be referred to as consumer-based approach. The concept of brand association came up in 1993. Kevin Lane Keller published an article in 2013 entitled ‘Conceptualizing, measuring and managing customer-based brand equity’ in Journal of Marketing. Keller (2013) thereby introduced a significant change in the field of brand management for the first time. The approach is based on the assumption that exists in the minds of consumers as a cognitive construal. Keller’s article introduced a new perspective in brand management approach. However, the approach was based on two broad assumptions.
The brand is a cognitive understanding in the mind of a consumer, and also, it resides in the mind of the consumer. However, the marketer is still able to brand value creation. The different basis of forming brand basis are followed by both the marketers and the producers which involve advertisements, publicity through the word of mouth, quality of the product, product category to which the brand belongs to and celebrity or extended entity association and customers contact with the organisation. Various examples can be used as a positive brand association. These include the various international corporations around the world. The companies include coca cola, which throughout have produced excellent soft drinks consumed all over the world. The coca cola company has the consistency of its products and always advertise the brand name all over the word regularly. The regular advertisements always help create a better perception about the product. Other examples are Mercedes-Benz vehicle, which is known for their luxury and comfort. There is the Ford Company, which is one of the oldest and well-established brand names in the United States when it comes to motor vehicles. They are famous producers of one of the best car trucks which are robust and that are sold expensively because of labor and the nature of materials used in making the cars. Ever since the launch of consumer-based approach (brand association), the concept has become widely influential and accepted among scholars’ way of thinking about brands.
Brand Association (Celebrity Endorsement)
Celebrities are individuals who are well recognised and enjoy the acknowledgment of the masses. Therefore, the term celebrity refers to a person who is famous to the public for his or her achievements in an area other than that of the product class endorsed (Friedman and Friedman, 2011, p.65). In the current world situation, celebrities include sportsmen, entertainers, actors and even politicians in the recent past. McCracken (2009, p. 318) defines a celebrity endorser as any person who enjoys recognition and uses it on behalf of a consumer good by appearing in the advertisement. McCracken continues to add that for the celebrity endorsement to be effective, there should exist some symbolic match between the celebrity image and the image of the brand. For example, of a celebrity endorsement involved in brand advertising include the Adidas and Nike that the sport’s iconic personalities such as Lionel Messi and Christiano Ronaldo advertise. In this circumstance, the match exists in that Adidas and Nike companies produce sportswear, and both the advertisers are footballers. There are a lot of considerations put into place, which is supposed to be followed, and they affect the effectiveness of a celebrity endorsement (Friedman and Friedman, 2011, p.66-67). The features of the product and celebrity’s characteristics should match to place an analogy in the mind of the consumer. Some of the main characters of an efficient celebrity endorsement are that a brand popularity increases with time and the remembrance of such a product.
The product has to show their real personality for them to be competitive. Therefore, individuals must have an active figure in the mind of the public and must hold that image for as long as possible. The life of a celebrity endorser is one that requires one to live to the expectations of the consumer as the qualities of the brand. A brand may be superior to others, but if a wrong celebrity is used in its advertisements then eventually it will lead to the failure of that product (Brown and Fraser, 2014, p.104). Marketers are therefore urged to be very careful with the star they choose for an advert. Appearing on the advert or the packaging material used in the wrapping of a product is very critical for a brand since it might build or wreck the life of that brand. It is the marketing department in an organisation to determine the kind of celebrity they want to use to advertise their product. In most situations, celebrities are offered a long-term contract to keep on promoting the product until the firm decides that the celebrity is of less significance to the organisation. Such deals usually cost the organisation a fortune and therefore they strive to maximise on the celebrity (Brown and Fraser, 2014 p. 112). However, the bottom line remains to be that celebrity endorsement is one of the emerging trends and have been used by some firms. Although it is an expensive way of advertising, on the long run the companies that use celebrities’ benefits.
Studies have shown that to develop a successful plan of brand endorsement; marketers need to understand the consumer psyche and brands. Analysis of the various factors that affect the impact of favourable support of a brand includes long-term consistency commitment and coherence. Firms should try to maintain a long-term relationship between the celebrities. The enduring relationship allows the product and the brand to take enough time to establish a strong identity and personality in the market. This will allow the consumer to recognise the product through the celebrity (Pfarrer et al. 2010, p. 1137). It is true to say a well-known celebrity will increase the popularity of the brand and then the customers will always associate the celebrity with the product. The other factor to be considered is prerequisites of choosing the celebrities used in an endorsement. Criteria used to select a celebrity endorser in different organisations is different, but the requirement of every company should follow a similar route to help it come into the right decision about the choice they make. Pfarrer et al. (2010, pp. 1143) assert that the celebrity should be attractive have a positive image in the society and should possess the necessary knowledge about the brand. A perfect example of this circumstance would be the endorsement of the Nike brand by the world number one tennis player Raphael Nadal. He is handsome, has a positive image all over the world and is very well conversant with the Nike products which he wears while playing.
Selecting individual endorsers is also another major thing to consider. Firms should be able to acquire different celebrities other than the ones the competing companies use. Krishnan, (2011, p. 393). Highlights that if two competing companies use the same celebrity to advertise their brand, it will bring confusion in customers in what they want. Worth noting is that companies always shy away from celebrities who have negative characters in the society where various significant examples can be given to such a situation. Nike walked away from a contract with Maria Zalanova from Russia after she was accused of doping or using illegal drugs. Different companies have been forced to do away with a celebrity because of their improper behaviours. Unfortunately, as Krishnan (2011, p. 401) notes, very few celebrities can maintain a good image in the public. The companies promoting their brands ought to keep a constant and continuous monitoring of the stars to ensure that they maintain a positive image in the society. The companies are urged to keep a very sharp eye on the celebrity to make sure that they do ruin the picture of the product through personal behaviour. There are many more factors to be put into consideration before a company ratifies a contract with a celebrity. The nitty-gritty ensures that both the star and the company involved end up in a win-win situation and that the image of each is protected. These other factors include brand over endorser in a case known as vampire effect whereby the celebrity may overshadow the product, and thus the promotion fails to achieve the intended goal. Myopic endorsement plan where firms have short-term sales plans that they fail to consider a longer relationship with the celebrity. Timing is also very critical for the company since famous celebrities are very expensive and usually demand so much through their managers. It is then the duty of the companies to keep on the look for new and rising stars to enable them to acquire new faces to advertise their brand (Krishnan, 2011, p. 402).
Improving Brand Performance
It is the duty of both the marketers to promote a brand to stay relevant in the market. There is stiff competition among many players in the market, each applying the different strategy to (or “intending to”) acquiring a new market or maintain the current market. Most firms are struggling to stay relevant in the world today since there has been the rise of new enterprises that are very competitive in every single aspect of ideas, technology, marketing strategies, research and development and competitor elimination. Research and development are some of the primary ways of staying relevant in the market since it is the beginning of finding a better market and maintaining the old market (Keller, Param Eswaran, and Jacob, 2011, p.440-450). Being able to come up with improved quality of products and also coming up with new products helps an organisation to stay relevant in the market. My recommendation falls under the areas mentioned above which include emphasises on the three top areas which are research and development, current asset capital investment and marketing.
Marketing is the most dynamic of them all since the taste and preference of consumers keep on changing from time to time. A dynamic market requires a very proactive marketing department in the companies that has a team that is always on the look out to know what their customer needs. The team also strives to understand all that is the demographic composition of the consumers of their brand. Marketing is the only function of the organisation that is performed by every individual in the organisation. Krishnan (2011, p. 394) notes that firms are always advised to keep a very dynamic marketing department that is always on the move to know what is happening in the field. A comprehensive information system is one of the ways of being very alert. If the firms can maintain a well-facilitated communication structure with the consumer that there is a flow of information from each side. The company under such circumstances can be able to meet the needs of their customer through a simple marketing strategy.
Information collection is key to brand management since the customers will get what they ask for. On the issue of celebrity endorsement, the various firms that are involved in this strategy should be able to identify approach and negotiate a quick deal with a celebrity. After acquiring the services of a decent celebrity, the firm should retreat to the drawing board and come up with the brilliant and compelling advert. To help the organisation rely on information to the public and ensure that the celebrity does not overshadow the message. Such a situation would guarantee a win-win situation for both parties. Keller, Param Eswaran, and Jacob (2011, p.445) argue that brand management includes a broad range of variables that need a well-mixed strategic plan that will enable an organisation to compete. The number of times an advert runs also affects the degree of perception in individuals. If an advert is brief, the then people can watch it repeatedly, and the message will be recorded in their mind in a very short time. Edson (2013, p. 171) pinpoints that one of the areas to emphasize on such a market mix would be on the brand association. The ability of the marketing department to come up with information that is eye catching and that can be able to create a perfect picture in the mind of the consumers. A desirable image that users can always remember when they hear or see the brand. It is a call to the marketing department then to come up with a perfect piece of information that is easy to understand and remember for every consumer. Being also very active in advertising and publicising of the product is also critical for the marketing department. Coca-Cola Company from the United States is a perfect example of a firm that can keep up with the current marketing trends. One of the brand association methods they have come up with the ability to write the name of an individual on the bottle of the soda. Most consumers cannot resist an excellent move. This has led to increased consumption of the soft drink and other associated products from the company.
Marketing is one of the ways to stay very sharp and very competitive in the market today. The only mechanism used to achieve such an objective of remaining very competent in a modern market is very dynamic in every single way. The current fierce competition will supersede a dormant or very slow management, which will lead to the closure of the firm if not being acquired or merging with another. For that reason, Edson (2013, p. 172) asserts that every company is required to have a creative marketing department that can come up with a brilliant message that can be used as an advert. The department should also be able to acquire a celebrity who will be able to create a good image for the brand. The ability to advertise as many times as possible on various media houses and use of billboards is a significant step that marketers must put into consideration. Repetition creates a better image and generates the ability of the consumers to remember.
Keller (2013, p. 1-22) came up with a consumer-equity approach that nailed the problem of most firms. Most companies are unable to point out the obvious to the consumers that make it hard to advertise for such companies. They end up providing destitute adverts that are boring to the consumers. Proper packaging is another method of brand association. Beautiful packaging and branding are vital as it attracts customers to read and others purchase
The ability to create an all-round brand calls for a devotion of time and sacrifice from workers who are ready to take an organisation to the next level. A good example of such a company is the Toyota Company of Japan. I think it is the most dynamic motor car company in the world. The company has been able to meet most of its consumers’ needs. It achieves customers' satisfaction by staying very dynamic both in research and development and on the marketing (Edson, 2013, p. 174). While other company remained with a few car models, such as Peugeot, Toyota manufacture different form of cars. By staying very active in research and development Toyota Company has been able to acquire the largest market share. The brand has created a market base that is so diverse and big, which give it an upper hand against its competitors. Organisations are required to develop one of the best brand association formulas that will help them penetrate the market and help it remain relevant to its customers.
References
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Korchia, M. and Dr. Ceressec 2012. Brand Image and Brand Associations 00024.
Van Osselaer, S.M., and Janiszewski, C., 2009. Two ways of Learning Brand Associations. Journal of Consumer Research, 28(2), pp.202-223.
Keller, K.L., Param Eswaran, M.G., and Jacob, I., 2011. Strategic Brand Management: and Managing Brand Equity. Pearson Education India.
Keller, K. L., 2013. Conceptualizing, Measuring and Managing Customer-Based Brand Equity. The Journal of Marketing, pp.1-22.
Brown, W.J., and Fraser, B.P., 2014. Celebrity Identification in Entertainment-Education. Social Change and Entertainment-Education. History, Research, and Practice, pp.97-115.
Pfarrer, M. D., Pollock, T.G., and Rindova, V.P., 2010. The Effects of a Firm Reputation and Investors' Reactions and Celebrity on Earnings Surprises. Academy of Management Journal, 53(5), pp.1131-1152.
Edson Escalas, J., 2013. Narrative Processing: Building Consumer Connections to Brands. Journal of Consumer Psychology, 14(1), pp.168-179.
McCracken, G., 2009. Who is the Celebrity, Endorser? Cultural Foundations of the Endorsement Process. Journal of Consumer Research, pp.310-321.
Friedman, H.H., and Friedman, L. 2011. Celebrity Endorser Effectiveness by Product Type. Journal of Advertising Research, 19(5), pp.63-71.
Krishnan, H.S., 2011. Characteristics of Memory Associations: A Consumer-Based Brand Equity Perspective. International Journal of Research in Marketing, 13(4), pp.389-405.
