BRAND MANAGEMENT AND COMPETITIVENESS

Branding has emerged as a top management priority in the last decade due to the growing realization that brands are most valuable intangible assets that firms have. There has been a growing interest in the area of branding, more so, because, brands represents the goodwill of the firm. The paper assumes that brands should be managed as valuable, long-term corporate assets. It is proposed that for a true brand asset mindset to be achieved, the relationship between brand loyalty and brand value needs to be recognized within the organization to ensure competitive advantage. The paper studies the brands and ways to achieve effective brand management by integrating brand loyalty, brand awareness and brand equity. The objective of research is to get the concept of brands and its management, brand positioning, brand equity and strategies to effectively manage it. The research study is descriptive in nature which is conducted on the basis of secondary data. Further, brand management is correlated with the competitiveness and strategies are suggested to gain competitive advantage by brand building. Finally, study reveals that brand plays a vital role in gaining competitiveness in market and companies should focus on enhancing the value of brand i.e brand equity.