CAREERS IN MARKETING & BRAND MANAGEMENT

CAREERS IN MARKETING & BRAND MANAGEMENT

1. What is a Brand?
BRAND= PRODUCT + EMOTION/INTANGIBLES
eg,TATA= PRODUCT + "TRUST"
MERC= PRODUCT + "QUALITY"
LUX = PRODUCT + "BEAUTY"

2. What is Brand Management?
All processes that are used to enhance the value of a Brand.
The key tenets of brand management involve:
(a) PRODUCT- the functional benefit
(b) POSITIONING- What does the brand stand for (Emotions)
(c) PRICING- defines the value of the brand in the eyes of the consumer. The premium it commands.
(d) PLACE- Where all the product can be made available.

3. What does a Brand Manager do?
(a) Understands the "unmet" needs of the customer.
(b) Researches the consumer for his MR Agency.
(c) Creates a brand that fulfills(functional+ emotional) needs, better than competition.
(d) Develops a "Positioning" in line with the above.The positioning would be the 'consumer face" of the brand.
(e) Develop a communication to convey this positioning(Advertising campaign)
(f) Communicate the positioning to the consumers.
(i) Understand the media consumption habbits of the consumers.
(ii)Surround the consumer with messages using various media platforms,such as, TV, press, hoardings,Emails, web, letters etc.
(iii) This could be done by using Ad agencies, Event Mgt coys,Media buying houses etc.
(g) Develop the pricing, packaging, distribution strategy in line with the positioning of the brand.e.g., a market leader need not be the Brand manager. (Wheel washing detergent may be the Market leader, but Surf may be the Brand leader)
(h) Decides when to change the market mix (4Ps) and by how much in keeping with the market realities.
(j) How much of Advertising & Promotion (A&P) budget is to be spent
(k) How to spend A&P money (when, where & on what)

4. How is a Brand value Calculated.

(a) Premium that a brand can charge as compared to its competitors.
(b) Flexibility of the brand in terms of extending itself to other areas e.g., Amul: Milk/butter/ Ice cream.( Linear growth Vs Lateral Jumps)
(c) Incremental sale that can accrue to the brand not in linear sale but, lateral jumps.

5. Skills required of a brand manager.
(a) Analytical skills
(b) Creative bent of mind.
(c) Ability to work on Cross functionalities.
(d) People Management skills.
(e) Communication skills.

6. Career Progression in Brand Management.
(a) Brand Assistant
(b) Brand Manager
(c) Multi- Brand manager/ Category Manager.
(d) Multi- Category Manager/ Multi-Country Brand Manager.
(e) Head Marketing/ Global Brand Manager.