when companies or products are launched those companies or divisions may not have a fully dedicated team for brand management instead they more often have a collection of marketing professionals that guide the initial external management of public perception that marketing team may own many initial aspects of brand management though their role often entails much more than simply honing in on a branding strategy 
as a product line or company matures the brand in question may receive more resources especially if the brand has been successful at this point the brand management team documents defines and formalizes the brand strategy this plan is much more detailed than the initial plans laid out by the marketing team in addition the brand management team will be more likely to collect information from other departments to ensure a broader company wide adoption of the brand management implementation plan the marketing team of a company is primarily focused on the outside interactions this includes communications event presence public perception and public relations though these aspects may play a part in crafting the brand brand management is more internally focused on strategically devising the course of action brand management is more likely to outline the strategy and internal buy in whereas marketing is more likely to implement the external strategy and external acceptance of the brand examples of brand managementfor some seeing a gecko reminds them of geico insurance which uses the reptile in most of its advertising campaigns similarly the coca cola jingle it s the real thing which aired in 1971 as a tv commercial that featured people of different races and cultures is still popular and familiar to generations of coca cola consumers 2a brand does not have to be tied to one product one brand could cover different products or services ford for example has multiple auto models under the ford brand likewise a brand name can take on multiple brands under its umbrella for example procter gamble has multiple brands under its brand name such as ariel laundry detergent charmin tissue bounty paper towels dawn dishwashing liquid and crest toothpaste 3requirements of a brand managera brand manager is tasked with managing the tangible and intangible properties of a brand the tangible aspects of a company s brand include the product s price packaging logo associated colors and lettering format a brand manager s role is to analyze how a brand is perceived in the market by taking the intangible elements of a brand into account intangible factors include the experience that the consumers have had with the brand and their emotional connection with the product or service the intangible characteristics of a brand build brand equity brand equity is the price above the product s value that consumers are willing to pay to acquire the brand brand equity is an internally generated intangible asset in which its value is ultimately decided by consumers perception of the brand if consumers are willing to pay more for a brand than a generic brand that performs the same functions the brand equity will increase in value on the other hand the value of brand equity falls when consumers would rather purchase a similar product that costs less than the brand a cult brand is an example of a benign cult where the customer base for a product or service is extremely loyal leading to the brand s success as a growing legion of customers feel a unique emotional connection with the brand the importance of innovation in brand managementbrand management involves not only creating a brand but also understanding what products could fit under the brand of a company a brand manager always has to keep its target market in mind when conceiving new products to take on the company s brand or working with analysts to decide what companies to merge with or acquire the difference between brand management success and failure comes down to ongoing innovation a brand manager that continuously seeks innovative ways to maintain the quality of a brand will retain its loyal consumers and gain more brand affinity compared to one that is content with the current good name of the company s brand 