The fantastic 4 pitfalls of brand management

I was thinking a lot about brand management today and where it's going. One of the reasons why companies like Nike and Coke stay with an agency is because they do a successful job with brand management.

For the cheap seats...
(Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the product's perceived value to the customer and thereby increase brand franchise and brand equity).

But, brand management is not the easiest thing to do. A recurring challenge is to build a consistent brand while keeping its message fresh and relevant. An older brand identity may be misaligned to a redefined target market.

Plus...
Brand identities may also lose resonance with their target market through demographic evolution. Repositioning a brand (sometimes called re-branding), may cost some brand equity, and can confuse the target market, but ideally, a brand can be repositioned easily in today's media - which is the main reason why many large companies have been turning to the online media with so much frequency. Within that space are the interactive agencies ready to re-focus the brand.

Okay - I'm off my lecture box and I'm leaving you with the:

The four Pitfalls of Brand Management:

1. Too may media channels to control
2. Inconsistent or unclear message
3. Speed to reach the desired audience
4. Not knowing the desire audience