Brand management involves the art of crafting and maintaining a brand image in the marketplace and of managing the product lines associated with individual brands. Marketers employ a repertoire of techniques to influence consumers’ perception of and preference for their brands. Focusing on continuous brand management can help your brand to solidify a position of dominance in your chosen industry or niche.
Analyze competing brands in your industry to determine where you would like to position your brand. Map out competitors and rank each by size, service model, reputation and target market segment. Determine how many players are serving the high end of the market and how many are serving value- or cost-conscious market segments. Determine which competitors feature full-service business models and which operate lean. Rank your competitors according to their reputation in the industry by comparing customer reviews and news articles.