Brand management (branding) describes how companies build and develop their brand over many years. The aim is for customers to recognize the brand and associate it with certain characteristics and emotions. This should create trust and differentiate the brand from others.
Here are two examples: Apple has become one of the most valuable brands in the world over many years. Customers connect Apple with innovative, easy-to-use, high-quality products. Apple also has a simple, minimalistic design that is instantly recognizable. All of this makes Apple a strong brand that customers trust and that clearly stands out from other technology manufacturers.
Tesla is currently establishing itself as a brand for electric cars. Tesla represents values such as innovation, prestige and environmental friendliness in the eyes of many customers. Tesla cars have a very futuristic design and lots of technology on board. Very direct sales via the Internet are also something special. All of this shapes Tesla as a brand and sets it apart from traditional car manufacturers.
Good branding is therefore important so that customers can immediately associate a product or service with a brand. Strong brands create trust and are remembered positively by customers.
