Brand Management Fundamentals
Brand managers plan, develop, and direct the marketing efforts for a particular brand or product. It is not uncommon for a brand manager to be responsible for coordinating activities of specialists in production, sales, advertising, promotion, research and development, marketing research, purchasing, distribution, package development, and finance. Brand managers are therefore seen as the key people behind the success of any brand or product. They are responsible for improving the value of their brands or products, which in turn generates profitable returns for the company and shareholders.
Brand management is more than a marketing job. Brand managers are responsible for the overall performance of their brands, which includes managing and developing their brands P&L (Profit and Loss), image and positioning in relation to their competitors. They are the key persons to plan, develop and implement marketing ...view middle of the document...
As such they have to exhibit strong leadership abilities, good communication and social skills, strong analytical skills and the ability to multi task.
In today's real-world situations, brand managers should see themselves charged with the responsibility to:
• Plan and execute all elements in a product's lifecycle.
• Define the brand's vision, prioritize and update both product and customer requirements.
• Work closely with all other functions to ensure customer satisfaction and ROI goals are met.
• Making the brand proposition work, to break down silos and increase the value of the brand.
Those taking this course will review all aspects of planning, developing, and directing the marketing mix and the practical skills needed to coordinate the efforts and responsibilities of others who carry out specific functions related to production, sales, advertising, promotion, R&D, marketing research, purchasing, distribution, package development, and finance. At the end of the day participants will have an understanding of the tools and skills needed to lead a truly cross-functional team.
• Learn how to spend less time on tactical tasks and make more strategic contributions.
• Create a greater business impact by doing more with less while improving your campaign quality.
• Build strong credibility; have more influence within your organization.
• Know what it takes to motivate customers to purchase your brand.
• Understand the disciplines of brand planning, product development, product launch, product life cycle management, and product portfolio management.
• Be able to develop and execute brand strategy, grow brand equity growth and craft a killer brand positioning statement.
• Know the difference between product enhancements, line extensions, and new products.
• Appreciate how innovative thinking can drive dramatic results.
• Understand the importance of working closely and effectively with internal cross-functional teams.
• Become knowledgeable in evaluating, understanding and confronting the competition.
• Learn to build a powerful marketing plan and lead your team through the process.