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Importance of Brand Management

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Abhijeet S
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Importance of Brand Management - October 11th, 2010

Branding is a process of creating and spreading the brand name. It can be applied to the entire corporate identity as well as to individual product and services. Company’s brand awareness in public is often used in evaluating a company. Brands are usually protected by companies as their trademarks.

The name Coca-Cola is the main asset of the firm. They have built their brand on this name. Any product or service associated with this particular name has immediate recognition. It gives the people a sense of familiarity and trust.

A chocolate associated with the name Cadbury’s would gain much acceptance in the market alone because of its name. It has been a recognized and accepted brand for the chocolates. Often, when people ask for a chocolate, they don’t say “can I have a chocolate”, they say “can I have a Cadbury.” The same applies for Bisleri. How often do we actually ask for Bottled water?

McDonalds has a certain symbol associated with it. The golden arches are synonymous with the McDonalds outlet. The kids recognize McDonalds is a km away with one look at the arches. Even if it doesn’t have a McDonalds sign attached. Or for that matter Nike. It no longer needs to write Nike under the swoosh for people to realize it’s a Nike product. The logo is the brand.
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