Brand Management

12/11/2014 Career

With the floodgates of the Indian market being opened due to
liberalisation, the Indian customers have a large number of
choices because a bevy of foreign companies have started
wooing them in order to promote their products. These products
include a wide range of electronic goods for household use to
automobiles to cosmetics to clothes and so on. To come up
trumps in this fierce competition, the price and quality of
the products are of utmost importance. But the big questions
is - what should be the right price and which segment of the
consumer should be targeted? Welcome to the most fascinating
but intriguing world of brand management.

The branding
process begins with the evolution of a new product together
with a comprehensive plan to make it an integral part of a
consumer's life. But before the process begins, a market
survey is conducted to assess the consumer sentiments. The
next step is to assert the brand identify by telling consumers
as to how the brand (product) is going to fulfill their needs.
The whole process is rounded off by aggressively promoting and
campaigning with the use of various media forums and
otherwise, to create an awareness among the consumers.


"Brand
management is all about refining and dressing up a particular
product so that it finds a permanent place in the consumer's
mind", says Sohini Gupta, Accounts Director, Bates India. The
genesis of any brand lies in the identification of a "selling
idea". The advertising agency assists the company in
connecting to the consumers with the help of images and
symbols. Brand management is also about delivering various
strategies and techniques necessary to sustain the product.


To become a
brand manager, you should preferably have an MBA degree with
specialisation in marketing. But, you cannot become a brand
manager overnight. People generally begin as a part of the
sales team. After a sustained good performance for two to
three years in the core sales unit team of an organisation,
only the best and the brightest are promoted to assistant
brand/ product manager and ultimately to brand manager. The
competition is so tough that from a team of about ten people,
only a couple make it to brand manager.



The job of a
brand manager essentially revolves around effective
co-ordination with the other departments and beyond. In
addition to co-ordination, the brand manager is also
responsible for support to the sales teams, dividing the
overall brand strategy and budgeting. In fact, he is the
person responsible for flawless functioning of activities such
as formulation, productions, packaging and distribution.
Further, a brand manager needs to be aware of the trends in
the market, must know the effective art of man management and
should also be receptive to new ideas. The key to success as a
brand manager is practical thinking and always being on the
toes.


This is one
of the most challenging professions where scope of stagnation
is almost nil. To be in the profession you have to learn new
things on a regular basis. Moreover, the co-ordination work
keeps the brand manager in constant touch with almost every
department thus giving him the feel of the whole organisation.


The
remuneration of brand managers varies from organisation to
organisation and generally depends upon the experience of
person and the company itself. Freshers can earn anywhere
between Rs. 10,000 and Rs. 15,000, whereas those with a couple
of years of experience in person and the company itself.
Freshers can earn anywhere between Rs. 10,000 and Rs. 15,000,
whereas those with a couple of years of experience in FMCG
industry can earn between Rs. 25,000 to Rs. 30,000. As the
markets in India have become very competitive, the
establishment of brands has become extremely important. As a
result, the need for brand managers is more than ever before.



INSTITUTES 



  • Indian Institute of
    Management - Kolkata, Ahmedabad, Bangalore, Lucknow and
    Indore.

  • Indian Institute of Science
    and Management - Pundag, Ranchi - 834004.


  • Symbiosis Institute of
    Management Studies - 15th Lane, Prabhat Road, Pune - 411004.

  • SP Jain Institute of
    Management and Research - Munshi Nagar, Dadabhai Road,
    Andheri (West), Mumbai - 400058.

  • Xavier Institute of
    Management and Enterpreneurship - Seva Sadan Campus, 3rd
    Block, Koramangala, Bangalore - 560034.

  • Institute of Management
    Bhubaneswar - Gyan Vihar, Rasulgarh, Bhubaneswar - 751010

  • MP Birla Institute of
    Management - 43, Race Course Road, Bangalore - 560001.

  • Indian Institute of Planning
    and Management - IIPM Tower, C - 10, Qutab Institutional
    Area, New Delhi - 110016.

  • Indian Institute of Social
    Welfare and Business Management - Management House, College
    Square(West), Kolkata - 700073.

  • Bharatiya Vidya Bhavan -
    Block FA, Sector III, Salt Lake, Kolkata - 700097, and 77,
    Ashutosh Mukherjee Road, Kolkata - 700025.



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