Brand Management Research Paper

CONTEXTUAL PROJECT ON BRAND MANAGEMENT

1.0 IDENTIFICATION OF CONCEPTS

1.1. Brand Management: Is the process of planning, organizing, directing, and controlling organizational resources to promote a particular brand of goods. This is the process of creating a favourable image for a brand in order to get a positive result. If a brand is properly managed it can result in higher sales, not only for one product but the gamut of the company‘s products. This may involve cost, customer satisfaction, in-store presentation, and competition.

1.2. Brand Equity: Brand equity describes the value of having a popular brand which in turns attracts more revenue to the company than an unpopular brand. It also refers to the value of a brand. It is correct

He or she makes a buying decision based on convenience, affordability, and availability.

1.5. Brand Intensification: One of the ways of testing brand loyalty is brand intensification. Aaker (2003) turns back to the nature of the customer-oriented brand association and expands it with the view that customers feel brand intensification equivalents to brand. Customers with real brand intensification express high loyalty to the brand and active engagement to interact with the brand and share their experience with others.

Moreover, Keller (2001) tested brand loyalty with the word "brand intensification" which refers to the nature of a customer-oriented brand relationship.

1.6. Brand Migration: Brand migration is the moving of a brand name from one product category to another which involves transporting the brand’s core values from category to category. According to Lindstrom (2009), it takes a lot more strategic intelligence than simply plastering a logo on the new product. A logo might carry some weight, but the fact is that not even the most powerful brands can be secure in a courageous product migration by investing trust in the brand alone. Brand migration should not be confused with brand switching which is the consumer’s decision to purchase a product brand different from that previously or usually

Brand Loyalty: Brand loyalty is important to managers because it will improve their customer retention, which will in turns have a favourable impact on profitability. When a consumer is satisfied with a brand to the extent of making a repeated purchase he can be said to be loyal. Brand loyalty is a sign that the brand in question meets the needs of the consumer in the area of quality and other attributes. In taking a decision about a brand all the factors that affect brand loyalty like trust, customer satisfaction, brand involvement, product quality and company image must be taken into consideration. Brand loyalty can make the manufacturer of the brand to be complacent and take the consumers for granted. At times, brand loyalty may make manufacturer to have a false sense of security, this may make the cease to strive to achieve a better quality. Brand loyalty may make a brand to rest on its