Why Brand Management Will Replace Marketing
P&G’s decision to formally end the era of “marketing” at the company and make the shift to brand management may accelerate what amounts to much more than a title change for marketers generally. It could point to a fundamental re-examination of the role of the people responsible for brands.
While “marketing” and “brand management” are often treated as synonyms, there is an important distinction between the two terms. Marketing focuses on the activities associated with the promotion and distribution of products and services. Brand management has, for many, been historically focused on identity management but is now much more concerned with the active management of the market value and competitive strength of a brand as an (intangible) company asset.
Marketing is about spending money. It’s how brands accumulate value. Brand management should focus on how products continue to wrap story and distinction around what they offer to increase competitiveness and build loyalty. The two are linked – but different. Marketing is the means. Brand management should be the goal.