Three Brand Management Theories

There are many theories relating to the brand management techniques, but those which also tell the strategies to perform better are discussed below:

1. Theory of Brand Loyalty:

The theory of brand loyalty explains the relationship of customers' psychology with the brand of a company. According to this theory, the positive behavior of a customer towards a brand has three different aspects: Emotional attachment, Brand evaluation, and Behavioral aspect. The first aspect relates to the emotional attachment of customer with the brand. That is, how much he likes or dislikes a product. If this is positive, he will always be inclined to buy this product and will never go to even check other companies' products.

2. The Branding Theory:

This theory provides guidance on some important typical components of brand management including;

1. The assignment of a specific name to the brand which can portray the business standards,
2. Then making the people aware of this brand,
3. Try to provide what they want,
4. Establish a relationship with your very first customers, and then keep on growing
5. And try to reach the top with no compromise in any function of brand development.

3. The Value-based brand Theory:

This theory explains that the value-based brands are intended to build long term customer value. The success all depends upon the value which the brand delivers to the customers. The value-based brand theory argues that the customer is the supreme spirited contrivance to defeat the competitors. It says a brand's life blood is the customer, nothing else.