Brand Management: Importance, Strategy, and Portfolio Management

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Importance of branding and their role in business practice...................................................3
P2 Analyse of key components related with brand strategy for managing brand equity............5
TASK 2............................................................................................................................................7
P3 Analyse different strategy of portfolio management related with brand hierarchy and brand
equity management.....................................................................................................................7
TASK 3..........................................................................................................................................10
P4 Evaluate of brand management and in-partnership both at domestic and international level
...................................................................................................................................................10
TASK 4..........................................................................................................................................12
P5) Evaluate different types of techniques for measuring and managing brand value using
specific organisational examples...............................................................................................12
CONCLUSION .............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
The term brand management is explicated as a function of marketing which undertake
different techniques for enhancing perceived value of a product line or brand. The term effective
brand management enable price of products to go up and also to formulate loyal customer-base
by developing positive brand association. With develop of strategic brand plan an organisation
maintain brand equity and value to understand brand and its target market. Brand generate
powerful influence on customer engagement, competition in market and management of
organisation (Baumgarth, 2018). This report is written from perspective of Lidl GB store which
was established in the year 1994 in Britain. In the present scenario, organisation operate
estimated 800 stores and many other regional stores with engage of 22,000 individuals in the
world. Moreover, this report highlights on importance of branding and it emerge among business
practice. Key components of successful brand strategy to build and manage brand equity will
also include in this report. Different strategies of portfolio management, brand hierarchy and
brand equity management is also undertaking in this report.
TASK 1
P1 Importance of branding and their role in business practice
The term branding is explained as a business practice through which an organisation
generates their name, symbol, design etc. that are easy to identify and understand. Branding is an
earliest form that usually depicts rate of ownership through which adequate goods and products
signifies suitable origin. It is also being used primarily to define about torch that is essential as
per consideration of marketing tool. In addition to this it also drives adequate evidence in which
consumer packaging and its deliverable is considered in improvised manner. The main role of
brand is to identify product and distinguish them from other products. Lidl GB store identify that
branding is important because it generate memorable impression on customers. In context of
respective organisation, management understand and analyse demand of customers that aids
individuals to clarify and design brand according to customer need (Datzira-Masip and Poluzzi,
2014). Moreover, marketing plays an important role in business practice because it improve
overall aspects and it also formulate new business aspect such as different logo, symbol etc. to
represent organisation with uniqueness in market. Along with this branding gets recognition
from business through analyse of all branding especially that demonstrate face of organisation.

Brand pyramid clarify about all fundamentals of brand and functions of foundation
related with brand strategy. Lidl GB store develop different brands that undertake brand pyramid
and it also work as an effective brand tool that help to establish brand in an organised manner.
With analyses of all above perspective Lidl GB store develop brand layers which is mention as
below:
Illustration 1: Source(https://trickle.app/drip/15832-the-brand-pyramid-
helps-in-defining-the-brand/)
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 Tangible feature and attributes- The term product describe about all perspective which
demonstrate how product are design and it aids to represent different number of products
to understand consumer market. It also describes all products that demonstrate company
knowledge related with company products.
 Functional benefit- Nidl GB store perform their work with more efficiency and it aids to
complete all function with decided aspect that aids to minimise customer problem. This
also drive about different aspects through which management utilise product and
effective results that expect about develop of appropriate roles that improve brand value
of organisation in market by performing all functions in an organised manner (Dunes and
Pras, 2017).
 Emotional benefit- The term emotional aspect demonstrates methods which explain
areas that define how customer feel with use of product. It also understands about all
those roles through which task are completed by analyse of company results. In context
of Nidl GB store management consider areas through which products are developed with
interested factors.