In marketing, brand management is the analysis and planning on how a brand is perceived in the market, with the goal of developing a good relationship with the target market. Tangible elements of brand management include the product itself (i.e. the look, price, packaging). Intangible elements include the experience that the consumer has had with the brand, and also their relationship with it. A brand manager would oversee all of these things. The modern discipline of brand management is considered to have been started by a famous memo at Procter & Gamble by Neil H. McElroy.
Marketing scholar Molly Hislop defined branding as ‘the process of creating a relationship or a connection between a company’s product and emotional perception of the customer for the purpose of generating segregation among competition and building loyalty among customers.’ It is a fulfillment in customer expectations and consistent customer satisfaction. Brand management 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 buyer; buyer to customer and customer to brand advocates.
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