What is branding all about?
Due to globalization, the floodgates of the Indian market have opened up. The Indian customers are being highly targeted by foreign companies as they feel that Indian market has a lot of potential. These products include a wide range of electronic goods for household use to automobiles to cosmetics to clothes or any other kind of service or non-moveable property. And of course, to combat the fierce competition, the price and quality of the products are of chief importance. But two things which one should consider before making any decisions are – what should be the right price of the product and which segment of the consumer should one target?
This is the fascinating world of Brand Management.
The work of brand managers is not only interesting and intriguing but also involves a lot of hard work and systematic thinking as a lot of planning and execution is required in promoting a brand and a bit of sales and marketing skills.
Who are brand managers?
Brand managers are ones who constantly strive to create a recognizable product image. A brand manager is responsible for figuring out how to create a personality for a particular product or service that will convey the purpose of the product while also being unique and inspiring every time. Being a brand manager is a heady task that requires very close attention to small details and a thorough knowledge of how a consumer mind works.
Daily tasks for brand managers include supervising the creation of marketing campaigns for a product, constant monitoring of competitors’ advertising campaigns, and frequently changing a product’s packaging, look or image.
Brand managers are usually hired by large companies that produce multiple products, for example, a foods conglomerate. A series of brands is created by such companies and they treat each brand as a mini-company, placing the brand manager in charge of each brand’s success.
A Brand Manager is mainly responsible for making a brand popular in the market by constantly identifying the needs of the consumer and drawing out effective marketing strategies.
Skills required to become a brand manager:-
A brand manager must possess exceptional insight into industry?s current and past trends, consumer demands, and of course, the broader world of marketing. A successful brand manager is the one who is creative, can think analytically, can work on big and small ideas and focus on minute details. Like all other marketing positions, brand managers often function within a team, and thus, they must be able to correspond easily and work in sync with others.
Youngsters find a career in branding attractive, primarily because such a job involves lots of responsibility, glamour and can bring in good salary packages. Therefore, in recent times, number of institutes that offer Brand Management Courses has increased manifold in India. However, it must kept in mind that in order to become a Brand Manger, it is important to be an MBA in Marketing.
Brand Management Courses Offered by Institutes:
Most of the Brand Management Courses teach the basic principles of brand management, brand promotion, market research, distribution and marketing of brands, consumer demand, brand research, advertisement and marketing, analysis of the market trends and brand research. The courses offered by MBA institutes are generally of two years duration. Students who are willing to start a career in this field need to qualify the eligibility criteria mentioned by the different institutes. It is also compulsory for them to write the national level entrance examinations for admission.