Brand refers to the name or symbol that differentiates products or services. A brand has either intangible or tangible characteristics. Branding refers to the process that businesses use to differentiating their products or services. Different producers use different components of product mix for marketing their products and services. Branding influences the position of products in the market. A well positioned product brings awareness and positive perception to the mind of customers. Branding therefore help to create and improve the market share of a service or product. It makes consumers perceive the product as the best solution to their needs. This is because a strong brand minimizes the risk and money value that consumers have in their minds (Kunde, 2002).
Brand managements help to differentiate products and services. It involves developing a brand, availing it to the market and positioning. Brand management create an image for a product or service (Andrew, 1991). A good brand management sustains a product or service and improves customers’ loyalty. The team concerned should control the intangible and the tangible characteristics of a good or service so as to efficiently manage the brand.
Brand management also helps to develop a good brand association. There should be a positive connection between the product and the consumer. This can be done by maintaining good customer emotions and linking them to the service or product. The pricing, packaging and labeling of goods and services should be unique and customer friendly. This wins customer loyalty and improve market share. Proper brand management therefore ensures that a product is well positioned. This improves brands commitment and earnings hence more sales and profit (Diller, Shedroff & Rhea, 2006).
The article “BlackBerry Makes Surprise Profit while T-Mobile Continues to Evolve Brand “, is a good case study for the latest brand management events. It is my choice because the mobile phone industry is very dynamic. Consumers more often change their taste for gadgets basing on brand desire. BlackBerry initially had a huge market share in the United States but its sales have tremendously decreased. It is only in the overseas market where the company which has one of sleek phones gets more revenue (Miller, 2013).
BlackBerry is experiencing cutting edge competition form parallel companies like Apple. It once used to be darling gadget for many but it has lost its ground. It is now struggling to recapture its market share which it lost to competitors. However it tried to diversify by introducing a new brand that is slowly winning the commitment of customers. While BlackBerry has not made big changes on their brand, competitors like Samsung and Apple have expanded their product line.
These gadgets are winning customer’s commitment. The competitors have positioned their products in the minds of consumers making them believe that it is the best solution to their thirst for sleek and trendy mobile phones (Miller, 2013).
BlackBerry needs to strengthen its brand management. It has a very low market share as compared to Samsung and Apple. However, it can regain its customer’s loyalty and improve its sales by building its brand architecture and essence. It should reposition its products once again in the market. Apple came up with mobile phones that meet customers’ satisfaction. The shape and abilities of their phones is more appealing. Technology change is inevitable and people are now going for the best brands in the market (Richardson, Dick & Jain, 2010).
References
Andrew, W. (1991). Promotional Culture: Advertising, Ideology and Symbolic Expression. London: Sage Publications.
Diller S., Shedroff N. & Rhea. D. (2006). Making Meaning: How Successful Businesses Deliver Meaningful Customer Experiences. Berkeley: New Riders.
Kunde, J. (2002) Unique Now… or Never: the Brand Is the Company Driver in the New Value Economy. London: Prentice Hall.
Miller, M. (2013). BlackBerry Makes Surprise Profit While T-Mobile Continues to Evolve Brand. Brand Channel.
Richardson, P, Dick, A, and Jain, A. (2010). “Extrinsic and Intrinsic Cue Effects on Perceptions of Store Brand Quality”, Journal of Marketing, 1(3) pp. 28-36.