Brands in Business Practice

41 Brand Management

Table of Contents
INTRODUCTION.......................................................................................................................................3
TASK 1.......................................................................................................................................................3
P1) Significance of branding as a marketing tool along with its emergence in business practice............3
M1) Discuss how brands are managed overtime with the help of appropriate theories, models and
concepts..................................................................................................................................................5
P2) Discuss the components of a successful brand strategy....................................................................5
M2) Apply appropriate example in context of organization....................................................................7
TASK 2.......................................................................................................................................................7
P3) Discuss strategies of portfolio, brand equity and brand hierarchy management..............................7
M3) Examine portfolio management, brand hierarchy and equity with the use of theoretical
framework...............................................................................................................................................9
TASK 3.......................................................................................................................................................9
P4) Assess how brands are administrated collaboratively and in partnership both at a home and global
level.........................................................................................................................................................9
M4 ) critically analyse various techniques adopted to leverage and extend brands.............................11
TASK 4.....................................................................................................................................................12
P5 ) Evaluate various tools for handling brand value using specific organisational examples...............12
M5 critically assess application of techniques for handling brand value by using particular
organisational examples........................................................................................................................12
D1. Assessment of comprehensive understanding of branding............................................................13
CONCLUSION.........................................................................................................................................14
REFRENCES............................................................................................................................................14

INTRODUCTION
Brand management refers to adopt effective strategies in order to enhance the presence of
company at market place. It is undertaken to improve the overall value, goodwill of a product
and service that will driven higher sales & profitability (Brahmbhatt and Shah, 2017). The
current report is undertaken in order to evaluate significance of brand management in terms of
improving market position of company. In the report, LIDL GB is taken into consideration that is
s supermarket store headquartered in UK. It was founded in 1994 and currently working with
22000 employees within Britain. It owns more than 800 stores and provides higher quality goods
at lower price to customers within country. It comprises significance of branding, components of
effective branding strategy, along with different strategy of portfolio management. In addition,
concepts of brand hierarchy and brand equity have also been discussed in the following report.
Lastly, it includes several techniques and tools that are used to manage brand in an efficient
manner at market place.
TASK 1
P1) Significance of branding as a marketing tool along with its emergence in business practice
Branding refers the combination of logo, color, symbol, tagline and more that are used by
marketers to differentiate their products and services from other competitors. It is an essential
tool that is used to enhance the market position of company in significant manner. In addition, it
also provides detailed information to customers regarding products and services of company.
Importance of Branding:
Branding brings recognition: It is analyzed that branding includes ample of elements
such as color, logo and more that eventually helps to differentiae products and services from
other competitors in market.
Enhance business value: Here, managers of Lidl GB store are able to leverage brand
value in terms of increasing number of customers (Bresciani and Del Ponte, 2017). It will
provide ample of benefits to company in future by increasing overall sales and profitability.

Increase in market share: Branding helps to bring more customers to company by
increasing its market presence. In case of respective organization, it is monitored that now they
have over 800 stores within country that provides a great example of business enhancement
through effective branding practices.
Build Trust among customers: In current time, customers prefer to purchase branded
products and services. Different branding components such as logo, symbol and more are helpful
to build trust among existing buyers. Here, Lidl GB store is able to maintain higher customer
base who has great faith over brand that is essential to earn higher profit margin.
Branding emerged in business practice
It is analyzed that in 1980 with improvement in distribution practices customers have
wide choices to select an appropriate products. So, companies also started to give focus on
branding to make different identify at market place. This helped them to build trust and faith in
customers. For instance, Apple, Google are some companies that are able to maintain to higher
brand identity among customers. It is monitored that logo of Lidl GB store plays a significant
role to put a great impression over customers at market place (Hegner, Fenko and Teravest,
2017). With the effective branding strategy of organization customers are able to easily
recognize and differentiate their brand from other competitors. In current time, branding is
considered as a crucial component of overall marketing practice of company that plays a crucial
role in enhancing current sales and profit margin of organization.
Brand equity:
It refers to the value and benefits that drive with company name & its identification
among customers. Here organization creates brand equity through positive experience of
customers.
Advantages:
It plays a great role in increasing in current sales and profit margin. Higher brand equity
allows respective company to charge premium price from customers who have great faith in
brand.

Disadvantages:
It is analyzed that marketers need to invest higher time as well as cost to increase equity
of brand at market place (Lee and Park, 2016). Here, they also required to invest higher amount
in advertisement in order to create positive image of brand.
Brand Positioning:
It refers to the perception of customers towards a particular product and service. It is
essential to maintain positive positioning of a brand in market that will help to driven more
number of customers.
Advantage:
Positive positioning of brand really help managers to differentiate their offering s from
competitors that is crucial to grab the attention of customers.
Disadvantage:
It is monitored that selected company need to invest significant amount in order to build
and maintain positive position of brand in market.
M1) Discuss how brands are managed overtime with the help of appropriate theories, models and
concepts
360 brand management process
This model is used by Lidl in order to manage the position of their brand in an efficient
manner (Marques and et. al., 2020). It comprises several stages such as knowledge, analyze,
insight create and more so that customers get attracted towards brand.
It is also monitored that marketers adopt strategies such as brand extension, revitalization and
more in order to keep their position secure at market place.
CBBE MODEL

Brand identity: It is the first step of model that includes the way in which a brand is perceived
by customers. It comprises the way in which customers distinguish a brand from another and
give preference to a particular brand over others.
Brand meaning: Here, companies convey the worth of their products and services to customers.
It is divided into two parts that are:
Brand performance: It is crucial aspect for customers as a brand having good
performance at market place help to attract customers.
Brand imagery: It refers to the image of brads in the mind of customers. It is crucial to
maintain positive brand image for betterment of company.
Brand response: It included whether brand is able to meet with the level of expectations of
customers or not. If, a products is higher than the expectations of customers then it more likely to
get better response from customers.