Ever wondered what makes a brand tick, what makes it capture consumer attention and the pocket share? This article aims to establish the timeless Brand Mantras and principles of brand management used by some of the most successful companies in the world. But first, let us decode what a brand is?
A brand is a set of functional, emotional, and rational associations and benefits which have occupied the target market’s mind. Associations are nothing but the images and symbols tied with the brand such as the Nike Swoosh, the Amul girl, the three-pointed star for a Mercedes. It represents its values, ideas, and personality. A Brand is nothing but an assortment of memories in customers mind.
What is Brand Management?
Brand management is one of the vital functions of marketing. It is the only function of marketing that gives identity or face value to a product. Some of the notable brands that are easily identifiable by all irrespective of their region or religion are McDonald’s, Microsoft, IBM, Procter & Gamble, CNN, Disney, Nike, Ford, Lego, and Starbucks.
Marketers require a comprehensive understanding of the brand, its target market, and the company’s overall vision to sustain the brand for its lifetime. Customer loyalty, favorable image, and higher financial value of the brand are some of the benefits of effective brand management.
Following are the Brand Mantras for effective Brand Management explained through the 5Cs:
1st principle of Brand Management: Credibility
Credibility is the heart of every brand. It means that the belief the product information contained in a brand is true and fair. Consumers perceive that credible brands have the ability (expertise) and willingness (trustworthiness) to deliver what has been promised.
It is a continuous and never-ending process. The intangible aspects of brand management like product positioning, customer experience, value-added services, customer relationship with the brand contribute towards building credibility.
Brands like the TATA group, LIC, Cadbury Dairy Milk, and Infosys definitely win our trust quotient.
Sharing the listings of the India’s most trusted brands for the year 2020 by Brand Directory:
2nd principle of Brand Management:Consistency
Consistency means the degree of harmony and convergence among the marketing mix elements. It also means the stability of marketing mix strategies over a period of time. It is pertinent that brands build and maintain consistency in brand designing, communication, and delivery.
Brand consistency is the pattern of expression that affects what people think about the brand. The more consistent is the messaging, the more consistent is the branding. Whether it is via words, design, offerings, or perspective. Brands like Dove, Amul, Fevicol, Dettol, and Colgate have been consistent for decades with their proposition, communication, and value delivery.
3rd principle of Brand Management: Connection
Meaningful connections come when a brand forges a link between what it does, and what people are seeking on a very deep, human level. Meaningful connections that flow from deep within the organization and that reach deep down inside the hearts and minds of people, lead to a greater brand appeal, differentiation, and loyalty.
Emotive and meaningful brands strive to operate at a higher level than conventional brands. They act, interact, and react in ways that make every moment emotionally meaningful. Customers and employees feel more secured and connected. They feel that the brand has helped them grow as humans and that the brand has touched them through love and beauty at an emotional level. Brands like Maggi, Parle G, Thums Up and Oreo have built amazing connections with their customers.
4th Principle of Brand Management: Champion the art of communication
Brand Communication is an important part and tool of brand management or mantras by which the companies inform, persuade, enlighten, teach, remind, and enrich the knowledge of their stakeholders about the brand.
Championing the art of brand communication will enable the brand to convey its strengths, values, fundamentals, and its offerings of products and services. Brands like Nike, Red Bull, and Vodafone have mastered the art of communication.
5th Principle of Brand Management: Community building
A brand community is a specialized, non-geographically bound community based on a structured set of social relations among the admirers of a brand. Brand communities build customer loyalty, engagement, and connections. It offers marketers glowing recommendations and new marketing ideas.
For example, HOGS – Harley Owners Group, a sponsored community marketing club created in 1983 and operated by Harley Davidson. The purpose of HOGS is to create lasting relations with the customers of the company. It has more than 10 lakh members worldwide. It is known as the largest factory-sponsored riding club in the world.
In conclusion, a strong brand makes customers committed to the business. A strong brand differentiates the products from its competitors. Brand Mantras and Brand Management is nothing more than capturing the customer’s heart and mind.
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