Scope of Brand Management, Courses, Jobs & Salary
- The concept of a brand involves recognition. A person is known by its name or title, similarly for a company to be known it is to recognized by its brand which includes its name, symbol, term, design or a culmination of these qualities.
- A brand makes a company. When a company becomes popular it becomes a brand in itself. The brand can be called to be its identity and with its brand in the market a company’s product is recognized.
- But to make a company receive recognition requires brand management. A good brand management system is what makes a company recognizable amongst its competition.
- The main techniques which are involved in brand management are its market value, customer response, cost, presentation and of course the competition.
- With the increase in companies and products, companies are now looking for a brand manager who can establish the company as a brand and make the company stand out among its competition.
- There are several aspects of being a brand manager. Apart from the basic market strategizing, brand managers have to understand to what type of brand the company wants to cater to. Such as:
- Does the company want to be a family brand?
- Are the products targeting a luxurious brand?
- Are the services that are being offered, cater to a corporate brand?
- What type of brand is the company looking to target: Premium, economic, individual, private, etc?
- These are the few posers which a brand manager must be able to under and figure out for placing the company and moving its brand image in that angle.
- To take Brand Management as a career, the candidate has to complete their 10+2 in any stream, though a commerce background with economics and accounting aid the candidate better. For undergraduate courses like any stream can be pursued but preferably a degree in business administration, economics and accounts enables the candidate in the said field. For postgraduate courses, one needs to have an MBA degree which can be applied for by appearing All India exams like CAT or MAT or any other admission test which is college specific.
There are also Diploma Courses as well as Professional certificate courses which can be pursued by candidates in the field of Brand Management such as :
- Diploma ( Brand Management)
- Undergraduate diploma (Brand Management)
- Certification Course (Fashion Brand Management)
- B.A. Fashion Brand Management (hons)
- Certification Course (Strategic Brand Management)
These are few of the courses which can be done in pursuit of a career as a Brand Manager.
There is a need to stand out. With the growth of the market there is always a need to be different and unique and that can only be possible to achieve if the brand stands out.
Job opportunities depend on the type of branding a Brand Manager wants to be associated with:
- Premium businesses like Travel and Real Estates, Entertainment and Leisure
- Luxury businesses which involve various manufactured products like shoes, bags, suits, clothes, body products including cosmetics and accessories.
- Family businesses involving the entire family like baby care, health products, medicines, family policies and family benefits.
- Customer oriented businesses which has a more individualistic approach as it caters to a direct customer who has different needs and desires.
- One can get a job of a most companies ranging from pharmaceuticals to electrical goods to manufacturing.
- In today’s world an actor and actress or a famous person who has tremendous impact on an audience also requires a Brand Manager to take care of their image in public and help them reinvent themselves each day to keep up with the present times.
To be a brand manager, one must have few basic skills. They are as follows:
- The person should have an excellent communication skill as communication is the key to selling a brand
- He should have good observation power in analyzing the market trends.
- Good sixth sense to predict the upcoming trends.
- The person should be a team player
- A brand manger must be creative, constructive and collected.
- Must possess excellent administrative skills
- Must be aware of the legalities which are involved with a brand
- To pursue a career in Brand Management, the candidate must have completed their 10+2 in any stream. Thereafter must apply for any course during graduation, however a graduate degree in economics, business administration enables better grip over the subject and thereafter apply for MBA.
The person who will be engaged in the work of a Brand Manager has to do the following work:
- He has to make a brand which is easily recognizable and memorable.
- To keep in mind the target audience or market which the company is looking to enter.
- To make the brand accessible in terms of its logo, presentation and also its name.
- A brand manager is to take into account the look of the brand which should be catchy and bold in its font, color, size, imagery and design.
- A brand manager is required to keep himself updated with the latest technology involving the brand product or service so that it can meet the customer satisfaction.
- A brand manager must take into account the market conditions
- A brand manager must be open to customer feedback as the customer is the king.
Brand Management is a flourishing career option. Various job opportunities are there in this field.
- A fresher can get a salary approx. Rs. 20,000/- to Rs. 35,000/- per month.
- If someone is in academic line, then they get the remuneration as per UGC guidelines.
- A brand manager who has experience in turning around a company can earn in incentives.
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