Companies that focus on brand
management also strive for competitive positioning, and to deliver
the impact that marketing mix puts in sales and overall profits.
Many companies are finding it
difficult to divide products and services during promotions. Hence
branding helps them to create a trusted image in the minds of its
prospects. With a trustworthy identity, companies can coerce larger
and more loyal customer base.
By mapping market share and profit
position of a brand compared to the others, one can assess and manage
brand portfolios, right from initial strategy to tactical allocation
of resources. A powerful brand name goes a long way in creating an
impression, coupled with effective consumer marketing,
Social media reputation management
is very important, while brand transparency needs to be present at
all times. Even the smallest mistake would raise into a public
relations problem, hence response plans need to be in place to
protect the brand reputation.
By leveraging social media, one can
coerce consumers to confirm if they are interested in the brand and
if they trust in that brand today. The world is changing quicker due
to the social web. Hyper-connectivity has boosted itself to record
levels with increase in mobile device usage. Brands have to conform
to changing trends so that they grow with the changing tastes.
Equal importance needs to be given
to brand experience since emotion-driven ads and slick copycat
designs can actually convince the quality of the brand.
With the rapid growth of social
sharing sites like Pinterest and Instagram, digital media needs to be
given importance with branding & print media design.Even print media need to contain
images which should be subtle and straight and not just be there to
enhance content anymore. Brands need to embrace visual content for
better marketing approach.
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