Brand Management: A Conceptual Review of the Conceptual Framework and Brand Positioning Strategies

Abstract

In the first quarter of the 21st century, a period characterized by the recognized significance of customer relationships within marketing, it has become evident that for firms, merely producing goods and services that satisfy the target audience's needs is insufficient to secure a sustainable competitive advantage in highly contested markets. Consequently, it is deemed necessary to establish emotional bonds with the target segment. At this juncture, the importance of the brand concept is highlighted. Brands constitute a combination of names, symbols, designs, or concepts that encompass both tangible and intangible attributes, enabling the differentiation of products and services from their counterparts. Brands represent the perceptions, feelings, associations, and experiences held by the target audience in relation to the firm, product, or service. Brands equipped with an effective management system provide firms with opportunities for market expansion within their operational domains. Given these benefits, branding has emerged as a central focus for organizations in the 21st century. The objective of the current study is to delineate the conceptual framework of brand concepts and brand positioning strategies. The study holds significance due to its potential contribution to the existing literature and its provision of practical recommendations for firms aiming to enhance their brand image.