The role of brand management in establishing a successful business : case: Nestor Global Resources Limited

Abstract

Brand management has gained global and interdisciplinary attention due to its vitality in global business. It is used to make companies’ brands look always attractive to their prospective and existing customers. Business is a continuous process; the customers have to always purchase or buy companies’ brands in order to keep them alive, active, relevant and competitive in the market. There has to be a strong relationship or connection between the customers and the company’s brands, which brings them back to buy or patronize the brands after the first experience. Brand management is used to create and foster this relationship. Though the whole essence of brand management is to give brands distinctive and differentiating features, which make them stand out and have competitive advantage over the others, businesses and companies have different ways of building, promoting and managing their brands, and there have not been enough studies on these methods.

The main objective of this thesis was to explore the theoretical framework of brand management, and make analysis using the case company, and to offer ways or make recommendations on how intending and existing businesses can adopt the results and findings of this thesis to build and effectively manage their various brands to achieve successes in their business operations. How they can create significant distinctiveness for their brands to enable their potential and existing customers to have preferences for their brands over their competitors. The importance of brand building and brand management in business and effective ways intending and existing entrepreneurs can create and effectively and efficiently manage their various brands to be successful and remain relevant and competitive in the global market was also explored in this thesis.

This thesis made use of the qualitative research methods in the collection and analysis of data. The qualitative data collection methods, interviews and participant observation were used; and the data collected were analyzed and explained using the thematic data analytical method. The data collected and analyzed showed that brand management in the case company is based on building strong and lasting customer relationships through transparency and integrity, building trust and confidence of the customers in the company’s brands. They also showed how important being consistent in brand building and management is; and the importance of having effective brand management strategies in business. The results of this thesis showed that the question of brand creation and brand management is or has shifted from just having mere branded products or services and focused more on the more human factors involved in brand building and management; the individuals and personalities involved in these processes, and even those who buy and experience the brands.