Branded asset management refers to the implementation of brand modifications and life-cycle management of branded assets. The branded assets category includes managing digital brand execution.
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Background
Branding has emerged as a top management priority in the last decade due to the growing realization that brands are one of the most valuable assets that firms have. A brand is more than simply a name and the physical embodiment of that name on stationery, clothes, plant and equipment. A brand has a meaning to all stakeholders and represents a set of values and promises, even a personality. Most companies with the biggest increases in brand value operate as single brands all over the world. The goal for many corporations today is to create consistency and impact, both of which are a lot easier to manage with the concept of a global brand - single worldwide identity. It’s a more efficient approach, as the same strategy can be used globally. Yet, global marketing and increased competition have added pressure to the brand management structure. The marketplace is cluttered with hundreds of brands that strive to seize the attention of consumers.
Importance of re-branding
The effects of global marketing and increased competition have added pressure to the brand management structure. The marketplace is cluttered with hundreds of brands often competing with each other to seize the attention of consumers.