Brand (product) management from KOLORO Company
Today, more and more managers of Ukrainian and Russian companies come to realize the importance of creating and promoting their own brand. Brand (product) management is of particular importance.
Brand management allows to occupy a stable position in the market in a highly competitive environment, to win the trust and loyalty of consumers, to strengthen the company’s reputation and brand image.
The brand itself is not the key to the successful viability of a company.
Just creating a brand is not enough, you need to constantly conduct marketing and promotional activities, conduct brand value and design evaluation, plan brand promotion and development strategy – all this includes the process of brand management or brand management.
To draw an analogy, for example, the king himself is of no particular value to the kingdom, because a king who is not engaged in the affairs of the kingdom will not be able to hold his position and throne for long.
He will likely be found a more “useful” replacement.
In order for your “royal” brand not to lose its “title” and position in the market it must be promoted and managed.
Product management
Product (brand) management or brand management – is an organizational and planning function of the company for the product (brand) produced, as well as marketing of the company’s product throughout the product life cycle.
Whether you are about to launch a new product on the market or are already a successful player in the market, it doesn’t matter, if you have created a brand, you can’t just stop there, you have to manage it and accompany it like a caring parent throughout its life!
Brand management models (brand management models)
In the world practice there are two main models of product management:
– Anglo-American or Western;
– Japanese or Eastern.
The Western model of management. According to this model, companies that produce different products or multiple product lines position each of their products uniquely without associating them with other products and the company as a whole. Creating a new brand under this model is a long-term investment, so special attention is paid to production, marketing and advertising of the product. And in this case, the brand does not necessarily have to generate income immediately, it can become profitable only after a few years.
In the Western understanding, a brand is an independent “fighting unit” with an established target audience and a positive image. That said, an advertising campaign can also be based on the same brand idea year after year. This is how consumer loyalty to the brand is built up over the years, increasing recognition and the level of trust in the company.
The Eastern model of governance. In this management model, companies focus on investing in research and development and maintaining consistently high product quality. In addition, there are no “free”, stand-alone products and there is a system of “sub-brands” – umbrella brands. Manufacturers direct all their efforts to promoting the company itself, maintaining its image and reputation – as a guarantor of high quality. In this case, a special role is played by corporate identity and brand attributes, which are used in all types of communication with the consumer and are mandatory elements of every advertising campaign.
Brand management in Ukraine and Russia is more inclined to the Western Anglo-American model, with rare features of the Japanese model.
As a rule, brand management is carried out by marketers or brand managers, but in the absence of such specialists in the company’s staff, enterprises resort to the services of branding agencies.
Brand Management” service
Brand Management” service from KOLORO branding agency includes the following activities:
1. assortment planning and selection of the company’s assortment strategy
– assessment of the assortment range integrity and optimality of the trade mark assortment;
– determination of the market needs and adjustment of the company’s assortment strategy.
2. branding and marketing of the product
– development of brand positioning concept;
– development of brand promotion strategy in the market;
– development of corporate style, brandbook, logo, naming (brand name), slogan, advertising concept, etc.;
– selection of pricing strategy, sales channels and distribution strategy of the company.
At this stage the main brand promotion strategy is selected and developed.
3. Merchandising – preparation of the brand for sale: preparation of the concept of design of points of sale, showcases, counters; drawing up a plan of product placement and sequence of placement, etc.
In addition, our company also performs quality management of the product (brand), for which the brand is tested on consumers in order to identify and eliminate deficiencies in quality, reliability, durability, functional and aesthetic properties of the brand.
By managing your brand, directing your own forces in the right direction, you ensure the success of your brand and profit, stable market positions, high competitiveness of the company!
KOLORO branding agency will help you to correctly form a brand (product) management policy and product quality management, determine pricing, distribution strategy, brand promotion and positioning strategy, form a brand portfolio and effectively use merchandising techniques. We can help you manage your brand and “matters of royal importance”!
