The aim of branding is to vividly convey a message, raise customer loyalty, and persuade an individual to buy the product, thereby establishing an emotional connect with customers. It also builds customer perceptions about a product or service.
Successful brands are the result of a robust brand management system that helps to build a corporate image.
Customers, both present and prospective, will identify your company, the product or service, and your status in the market, via your brand. An incredible brand is built via strong messages, advertisements, and images.
It’s always easier to execute tactics, instead of introducing a new strategy, because that could imply a possibility of failure. It’s always much easier to copy what worked for the competitor than come up with something creative and original. But branding is about creating the correct experience which involves all stakeholders to devise a better strategy.
A proper brand management strategy must ensure that all promotional pieces, touch points, and every use of your logo, name and message, support the company and its goals by reinforcing the brand in the planned way.
On a wider scale, brand management includes managing both the intangible and tangible characteristics of a brand.
For product brands, the tangibles include the item itself, packaging, price etc. In case of services, tangibles comprise customer experience, whereas the intangibles include the emotional connection.