Summary of What do I do as a Brand Manager? 👩💻
Main Financial Strategies and Business Trends:
- Profit and Loss Management: Brand managers are responsible for overseeing the brand's profit and loss, which includes managing expenditures on packaging, R&D, supply, and advertising while ensuring profitability through effective pricing and product desirability.
- Consumer Understanding: A key responsibility is to understand the target consumer to create products that delight them, which involves continuous Market Analysis.
- Strategic vs. Tactical Roles: Brand managers may have different focuses depending on their geographical location, with larger cities leaning towards strategic roles and smaller cities being more tactical.
- Collaboration Across Teams: Brand managers work closely with various teams (consumer insights, market sales and planning, finance) to gather insights and develop comprehensive business plans for new products.
- Budget Management: A critical part of the role involves meticulous Budget Management, ensuring that expenditures align with the overall Brand Strategy and financial goals.
Methodology/Step-by-Step Guide of a Typical Day:
- Morning Routine: Start the day with personal fitness and prepare for work.
- Daily Priorities: Create a list of 3-5 important tasks for the day.
- One-on-One Meetings: Conduct regular check-ins with the brand director to discuss progress and challenges.
- Cross-Functional Meetings: Collaborate with teams to discuss new product developments and gather insights.
- Lunch Break: Often shared with team members or taken at the desk.
- Delivery Meetings: Meet with distributors to ensure distribution targets are met and address any challenges.
- Media and PR Meetings: Review past campaigns and plan future strategies with media and PR agencies.
- Budget Meetings: Analyze and manage the budget, ensuring all expenditures are accounted for and aligned with the brand's financial goals.
- End-of-Day Work: Catch up on emails, work on reports, and prepare presentations for stakeholders.
Presenters/Sources:
- Rabia, former brand manager at Proctor and Gamble.
Notable Quotes
— 14:07 — « Your day-to-day work is basically being a business owner and bringing all the different experts together to help you deliver goals for your business. »
— 14:15 — « I would say that it is probably 70% meetings and 30% working on brand plans, budget files, and reports. »
Category
Business and Finance