Brand management is the process of maintaining and improving a brand so that the name is associated with positive results. Built on a solid marketing foundation, it focuses directly on the brand and how that brand can remain favorable. It involves developing a strategic plan to actively maintain brand equity or gain brand value. This recipe sounds simple in theory, but is complex to map out in practice. To get this right, you’ll need a comprehensive understanding of the brand, its target market and the company’s overall vision.
The PE industry has reached near universal agreement on the importance of building a strong brand, as an “active way to build external awareness and internal cohesion”. In order to be successful, private equity houses today devote resources to improve, strengthen and understand the perception of their brand in the market and make changes to their brand accordingly
Building the brand should not be considered as a one-time event focused on a new website or logo but the current trend of PE houses is to move from “brand development” to “active brand management”. It’s all about building up that all important external awareness so as to stand out from competitors. The advantages of doing so drive to the very heart of your business: fundraising and hiring talent.