Question

Identify and EXPLAIN the steps in the strategic brand management process

Strategic Brand Management Process

• Identifying and Developing Brand Plans 
• Designing and Implementing Brand Marketing Programs
• Measuring and Interpreting Brand Performance
• Growing and Sustaining Brand Equity .

Answer 1

The strategic management process means defining the organisations strategy. It is also defined as the process by which managers make a choice of a set of strategies for the organisation that will enable it to achieve better performance.

The strategic brand management process can be defined as follows.

1) Identifying And Developing Brand Plans:

For formulating the step three models provide successful brand building. These three models are:

a)Brand Positioning Model: Here Positioning means what the company wants the customer to think about it, not what the customer thinks about the company. Done by establishing point-of-parity and points-of-difference.

b)Brand Resonance Model: Here Resonance means active relationship and loyality with customers

c)Brand Value Chain Model: It is a structured means for managers to understand where and how value is created and where exactly to look to improve that process.

Keys features : Brand mantra, Mental maps, Competitive frame of reference,core brand associations.

2) Designing and Implementing Brand Marketing Programs:

The main important brand element which we need to look after while designing and implementing brand marketing programs are brand names,URLs,logos,symbols,characters,slogans

There are certain criterias for brand elements

a)It should be meaningful

b)It should be memorable

c)It should be likable an interesting

d)It should be transferable withtin and across product categories

e)It should be flexible and updatable

f)It should be protectable both legally and competatively

Keys features : Leveraging of secondary associations,mixing and matching of brand elements,integrating brand marketing activities.

3) Measuring and Interpreting Brand Performance:

Branding also requires measurement on a periodic basis. Measuring brand performance, brand awareness, brand loyality etc and getting insights from these.

Most companies follows a brand equity measurement system which has a set of research procedures designed to provide timely,accurate and actionable information for maketers.

Keys features : Brand tracking,brand audits,brand value chain.

4) Growing and Sustaining Brand Equity

It means to sustain, nurture, and grow brand equity under various situation and circumstances. It is all about anticipating and keeping the reactions to them ready.

Key features: Brand architecture,brand portfolios and hierarchies,brand expansion stratgies,brand rienforcement and revitalization.