Brand management is the process of developing and maintaining a brand's image, reputation, and value in the market. It involves creating a unique identity for a product or service, which helps differentiate it from competitors. Effective brand management ensures that customers have a consistent and positive experience, fostering loyalty and trust. Key components of brand management include market research, brand positioning, and communication strategies. By understanding customer preferences and market trends, companies can adapt their branding efforts to meet consumer needs. This ultimately leads to increased brand equity, which is the added value a brand brings to a product, such as Apple or Coca-Cola.