Brand Management. Changes in the Past 40 Years

Essay aus dem Jahr 2023 im Fachbereich BWL - Offline-Marketing und Online-Marketing, Note: 1.7, , Veranstaltung: Marketing and Communication, International Strategic Management, Sprache: Deutsch, Abstract: This essay explores fundamental changes and how they have made brand management more dynamic and consumer-centric, requiring adaptation and leveraging technology to meet evolving consumer expectations. Brand management has experienced significant transformations over the last 40 years, specifically in the early 1980s. It was a different process than today due to the limited technological advancements and the absence of the internet. Technological advancements, consumer behaviour shifts, and marketing landscape change drive it.Brand management is the process of strategizing, developing, and overseeing the various elements that contribute to creating, maintaining, and enhancing a brand's identity, perception, and value in the market. It involves actively managing and shaping how a brand is perceived by consumers, stakeholders, and the public.The primary goal of brand management is to establish a solid and favourable brand image, build brand equity, and foster customer loyalty. It encompasses various activities and re-sponsibilities. Companies develop a clear brand strategy that defines the brand's purpose, values, positioning, target audience, and unique selling proposition. This strategy serves as a foundation for all brand-related decisions and activities. It creates and manages the brand's visual and verbal elements, including the logo, tagline, colour palette, typography, and brand voice. Consistency in these elements helps establish brand recognition and differentiation.