Brand management always aims to create an emotional connection between products, companies and their customers and constituents. Brand managers create strategies to convert a suspect to prospect; prospect to a buyer; buyer to customer and customer to brand advocates.
The process of maintaining, improving, and upholding a brand so that the name of the brand is associated with positive results. Brand management involves a number of important aspects such as cost, customer satisfaction, in-store presentation, and competition. Brand management is built on a marketing foundation but focuses directly on the brand and how that brand can remain favourable to customers. Proper brand management can result in higher sales of not only one product, but on other products associated with that brand.
Social Media is the future of communication, a countless spectrum of Internet-based tools and platforms that increase and enhance the sharing of information. This new form of media makes the transfer of text, photos, audio, video, and information in general increasingly fluid among internet users. Social Media has relevance not only for regular internet users but business as well.
Even though social media has changed the tactics of marketing brands, its primary goals remain the same; to attract and retain customers. However, companies have now experienced a new challenge with the introduction of social media. This change is finding the right balance between empowering customers to spread the word about the brand through viral platforms, while still controlling the company’s own core strategic marketing goals.
In social media- viral marketing, which broadly describes any strategy that encourages individuals to propagate a message, thus, creating the potential for good growth in the message’s exposure and influence. Basic forms of this are seen when a customer makes a statement about a product or company or endorses a brand. Because of this brands have become interested in exploring or using social media for commercial benefit.