Why Reputation Management Is So Important Today
Each company develops a brand for itself, be it a brand for a product, or a service. Proctor and Gamble were the first company to begin brand management and this segment of marketing has become one of the most important management subjects for any business.
It takes a long time to build a brand name and uphold its reputation. At the same time, preventing the misuse of the brand by people with vested interests is a continuous process. Brand management is all about managing the identity of a company as the ‘mother brand’ along with the ‘sub-brands’ for each product or a range of products.
Building a brand name is all about building people’s faith in a particular trade name. Over a period of time that includes activities, like advertising, public relations and social marketing, people begin to put their faith in a line of products manufactured by a certain company. Then, when other products are added to the line and sold under the same brand name people trust the product blindly.
In short, brand management includes building the market’s faith in a product or service such that people will trust that anything that is marketed under that brand name will come with the same quality and durability as all previous products.
As mentioned before, brand management is all about building a good reputation around a certain brand that is owned by a company and protected by copyright law.
However, some unscrupulous individuals find a way to dupe unsuspecting customers into believing that the products they buy are manufactured by established brands while in effect these products are sold under a similar sounding (or looking) brand. This is an infringement of copyright and punishable by law. This can cause a lot of damage to an existing brand that the brand managers have strived to build. Therefore, brand management also includes looking out for such infringement of copyright and setting the record straight.
Such is the importance of brand management that this area of marketing comes directly under the CEO of the company. A company can own a single brand or multiple brands. However, most companies prefer to register different brands for a varied line of products but they are all marketed under the mother brand, which is the brand of the company.
The aim of brand management is to create a long-term relationship between the customers and the company. The strength of this bond between the company and the customers will depend on the performance of the products sold under the brand and the management of the brand. So, brand management is not all about selling a product and making the market aware of the product. It is about the marketing department making a promise to the customer about the quality of the product, the after sales service and the company’s dedication to living up to the promise.
That said, the manufacturing process that has little or nothing to do with the marketing of the product, should also live up to the promise of the brand and manufacture the products to conform to the standard and quality, as promised by the brand.
Thus, brand management is a team effort that needs the complete dedication of the entire company. It is about gaining the trust of the customer base and building on that trust to further strengthen the reputation of the brand while all the time contributing to the growth of the company.