Topic > Brand Strategy and Management - 1865

Brand Management In recent years, large groups of people have experienced an increase in their standard of living. People have become richer and have greater purchasing power. Nowadays, most consumers are more likely to choose established brand products over unknown brand products. It is normal that humans tend to change their consumption patterns in different situations. In this case, they are better off now than before, thanks to strong economic growth. Due to the current situation, many companies have hired skilled people, better known as brand managers, to anticipate this trend and in return increase profits. Brand managers are people who formulate marketing plans for the product they manage. However, these brand managers have come to realize that consumers now demand products that focus on special values ​​that increase their loyalty towards that particular brand and its products. In other words, consumers now demand authentic products. The term "authentic" can be defined as conforming to the facts and therefore worthy of trust, reliance or belief. Brands have always been commercial agents, and brand managers take pride in their ability to meet the needs of their target market. However, these two desires conflict with the recent trend to position brands as “authentic,” emphasizing the timeless values ​​desired by consumers and downplaying apparent commercial motivations. The dual problem for the company is to create images of authenticity and at the same time address the challenge that authenticity presents for brand management (Beverland, 2005). Consumers believe that when a product has an acclaimed background, it is trustworthy. There will be an increase in demand and loyalty for businesses that meet the above conditions. For example, the initial support offered to the gay community by the clothing company Levi's ensures that the brand continues to have relevant meaning for gays. According to Beverland (2005), brands that tried to exploit this segment as homosexuality became more generally accepted struggled because they were late to the party and were seen as exploiting a community without paying the necessary dues. As mentioned above, companies have formulated many strategies to make their products look and feel authentic. Companies should not assume that an authentic product they advertise will be successful. This is because there are different opinions on this topic. A product that is authentic to one individual may not be authentic to another.