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Evans, 2020). Challenges There are several challenges associated with setting objectives for a category. ? Brand managers sometimes limit themselves to setting financial and market performance objectives. They may not question strategic objectives if they feel this is the responsibility of 6 senior management. ? Most product level or brand managers limit themselves to setting shortterm objectives because their pensation packages are designed to reward shortterm behavior. Shortterm objectives should be seen as milestones towards longterm objectives. ? Often product level managers are not given enough information to construct strategic objectives. ? It is sometimes difficult to translate corporate level objectives into brand or productlevel category. ? In a diversified pany, the objectives of some brands may conflict with those of other brands. Or worse, corporate objectives may conflict with the specific needs of your brand. This is particularly true in regard to the tradeoff between stability and riskiness. Corporate objectives must be broad enough that brands with highrisk products are not constrained by objectives set with cash cows in mind (see . Analysis). The brand manager also needs to know senior management39。s positioning relative to the petition. ? be attractive. ? stand out among a group of other brands. Types of brands premium brand economy brand fighting brand corporate branding individual branding family branding Functions of brand (For consumers) Identification of source of product, Assignment of responsibility to product maker, Risk reducer, Search cost reducer, Symbolic device, Signal of quality. (For Manufacture) Means of identification to simplify handling or tracing, Means of legally protecting unique features, Signal of quality level to satisfied customers, Means of endowing products with unique associations, Source of petitive advantage, Source of financial returns. (Strategic Brand Management 3rd edition,Kevin Lane Keller) Brand architecture The different brands owned by a pany are related to each other via brand architecture. In product brand architecture, the pany supports many different product brands with each having its own name and style of expression while the pany itself remains invisible to consumers. Procter amp。 Company, a global consulting firm, in 2020 suggested that strong, wellleveraged brands produce higher returns to s