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This helps the product get identified even without the name of the company.
Brand Management and Brand Building
Brand Management is a method of creating strategies of marketing a particular brand. Once a product or service has achieved a brand name, it is also necessary for the company not only to sustain that position but also to expand its market.
Hence, brand management is that faction of a brand which manages the tangible and intangible characteristics of the brand.
Brand Building is often associated with brand management, in which the company enhances its brand value through advertisements and promotions or by sponsoring events. In this process, the company builds up value for brands in a way that satisfies the needs of the consumers, so that he/she identifies the particular product by a unique property.
Brand Equity and Brand Development
Brand equity is basically a measure of the brand value of the company. Researches on top companies indicate that a company's 30% to 70% of total worth is attributable to its brand equity. So the aspect of brand development is indispensable to a firm. Profitability is imperative to any firm for its sustenance, which in turn greatly depends on brand development. In this highly competitive world, it is essential for a company to create its own niche and stand out from the rest in order to appeal to its target consumers.
Internet Branding and Real Estate Branding
In today's world, time is precious and hence it becomes important for any business/company to spread awareness about its product to consumers at lesser time and cost. Internet is a medium which has gained huge popularity, even among the small businesses, to reach out to a wider range of customers. Today, most of the brands advertise their product through internet, thereby catering to larger customer base. Now-a-days real estate branding has gained recognition, whereby the brand name is established through real estate companies.