It seems like brand management is another buzz phrase that just hit the scene in the past few decades. In reality, brand management can be traced all the way back to the 1200s when English bakers were required to put a specific symbol on each product they sold. As product branding become more common, a marketing niche developed to help companies establish and evolve their brand. Brand managers are often vital to the overall success of a product or a company. Their job is to design and implement a successful promotion campaign for a product. Brand managers evaluate sales figures and trends. They research the target demographic and comparable products, along with production costs, to set the best price for the product. They also develop and implement marketing strategies specifically designed for that particular product or company. In this age of social media, brand managers also keep a close eye on the online buzz about the product and adjust marketing plans accordingly.
Brand managers really focus on creating an emotional connection between consumers and the product. You know that a brand manager has done a great job when you instantly associate a color, a song, or a slogan to a particular brand.
Brand managers are responsible for the development and implementation of a strategy specifically designed to market a particular product or company. In addition to executing targeted and creative marketing strategies, the brand manager also has significant fiscal responsibilities: profitability, sales, pricing and distribution, and maximizing an advertising budget. A great brand manager is
- creative and outgoing;
- able to analyze and interpret qualitative and quantitative information;
- a proven sales person who can be persuasive across all forms of communication; and
- able to take a dynamic approach to marketing and can quickly adjust the strategy as required.