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This case discusses the evolution and growth of the brand management system of the US-based fast moving consumer goods (FMCG) major - Procter & Gamble (P&G). It describes in detail how the ''brand management'' in the 1940s evolved into ''category management'' in the 1980s, as the brand portfolio of P&G expanded. Finally, the case focuses on how category management is gradually evolving into ''cohort management'' at P&G in the initial years of the new millennium. The case also examines in detail the best practices followed by P&G in managing brands. This case is structured to enable students to: (1) understand the significance of a brand manager, brand management system and category management; (2) understand the various components of an effective brand-management strategy; (3) examine and analyse the importance of brands, the brand-building process and effective brand management strategies for an organisation''s success; (4) examine the changes happening in the brand management system of a large FMCG multinational company as its business operations and brand portfolio grow globally; and (5) understand the concept of cohort management and study its significance in maximising the potential of individual brands in a huge brand portfolio of a large FMCG company. This case is targeted at MBA/PGDBA students and is part of the marketing curriculum.