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Brand Management
MODULE 9

A brand is a symbol of promise or assurance from

the entrepreneur that what its implications to the
customers will happen A good brand not just entices
customers to try the product but makes them loyal to it.
Moreover, the brand sets the image of the business to
the public.

Brand sets the image of the business to the public.

Start Here
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● Why is it important to create a brand name

for our products?

● What do you think is the reason behind it?

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Creating a strong brand name for your

products is important for several reasons, as it
plays a crucial role in the success and
perception of your business. Here are some
key reasons why having a good brand name
matters:
1. Identity and Differentiation
A unique brand name helps your product stand
out in a crowded marketplace. It gives your
product a distinct identity that separates it
from competitors.
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2. Recognition and Recall

A memorable brand name makes it easier for customers
to recognize and remember your product. This is critical
for repeat purchases and word-of-mouth marketing.
3. Trust and Credibility
A well-thought-out brand name conveys professionalism
and builds trust. Customers are more likely to purchase
from a brand that sounds reliable and resonates with
them.
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4. Emotional Connection
The right brand name can evoke emotions, create loyalty, and
align with customers' values, fostering a deeper relationship
between your product and your audience.
5. Marketing and Advertising Efficiency
A good brand name is easier to market. It can set the tone for your
advertising campaigns, slogans, and brand messaging, ensuring
consistency and better communication.
6. Legal Protection
A unique and registered brand name can protect your
product legally, preventing others from copying or
imitating your name, which safeguards your reputation
and market share.
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7. Growth and Expansion

A strong brand name allows for easier product or market
expansion. For example, customers who trust your existing
products are more likely to try new ones under the same
brand.
8. Perceived Value
A compelling brand name can enhance the perceived value
of your product, allowing you to charge premium prices and
position yourself as a leader in your industry.
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9. Word-of-Mouth and Referrals

When your brand name is catchy and easy to say, customers
are more likely to recommend your product to others,
amplifying your reach organically.

10. Consistency Across Channels

A solid brand name ensures a consistent identity across online
and offline platforms, such as social media, packaging,
websites, and promotional materials.
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Now, the question is how are we going to craft

the
brand ?

how to market the brand, and

how to make the brand

Brand management is the supervision of the tangible

and intangible elements of a brand.

Branding is the process of integrating the strategies

formed from the marketing mix to give an identity to
the product or service
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What are the goals in branding the products?

1. Establishing to target customers that the business is

reliable and trustworthy and that the product or service
is the superior solution to their current problem;
2. differentiating with competitors
3. driving customer loyalty and retention.
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With strong branding, customers will feel that they are

safer in using the products or availing the service, and
the risks are minimal or low.
If two products will be offered, the customer will likely
choose the one from a reputable brand.
Promoting the brand is also the same as promoting the
product or service.
For
potential entrepreneurs, choosing the cheapest and the
most efficient channels for communication for the brand
is the best choice.
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One of the emerging but cheaper ways to promote a brand

is through social media, because these are platforms where
conversations take place, resulting in “sticky” relationships.
The key for the entrepreneur is to manage the
conversations
– handle both good and bad reviews and simple, catchy,
and consistent, so that the target market will have little or
no efforts in retaining the business brand to their
minds.
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To be different and catchy, a brand name

must possess the following
characteristics:

Unique
Extendable
Easy to remember
Can describe the benefits of the
product or service
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Can be converted to other dialects or

languages in case the entrepreneur
expands to other territories

Can describe concrete qualities

Positive and inspiring

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The brand is the marketing element that

sticks to the mind of the target
customers and the public. Therefore,
the entrepreneur must think critically
on how to position the brand and be
able to sustain it.
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Generalization about Brand Management

Brand management is a key strategy that
businesses use to develop and maintain a strong,
positive perception of their products or services in
the market. It involves managing both the tangible
elements (like product features, packaging, and
pricing) and intangible elements (such as customer
perceptions and brand loyalty). The goal of brand
management is to differentiate a company from its
competitors, build trust, and create emotional
connections with customers, ultimately leading to
long-term loyalty and increased market value.
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In the context of entrepreneurship, effective brand

management is essential for creating a unique identity
in the marketplace. This identity is built through the
careful crafting of a brand name, logo, tagline, and
other elements that resonate with the target audience.
A strong brand can evoke positive emotions, and its
perceived value can influence purchasing decisions.
Entrepreneurs must also consider the broader
environment of their business and the local market
to ensure that their brand is relevant and attractive to
potential customers.
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