Brand Management: Importance, Strategies, and Techniques

Brand Management

Table of Contents
INTRODUCTION ...............................................................................................................................3
TASK 1.................................................................................................................................................3
P1 Discuss the importance of branding as a marketing tools and how it emerged in business
practices...........................................................................................................................................3
P2 Explain the main components of a successful brand strategy for building and managing brand
equity................................................................................................................................................5
M1 Examine how brands are managed successfully & apply theories or model ...........................6
M2 Analyse examples & validate them within organisational context ...........................................7
TASK 2.................................................................................................................................................7
P3 Examine different strategies of portfolio management, brand hierarchy & brand equity
management.....................................................................................................................................7
M3 Critically examine portfolio management, brand hierarchies & brand equity using
appropriate theories, framework ...................................................................................................10
TASK3 ...............................................................................................................................................11
P4 How brands are managed collaboratively and in partnership both at a domestic and global
level................................................................................................................................................11
M4 Evaluate use of different techniques used to leverage & extend brands ...............................12
D1 Discuss evaluation that is unpinned by justified evidence and understanding of branding ....13
TASK 4...............................................................................................................................................13
P5 Briefly explain different types of techniques for measuring & managing brand value ...........13
M5 Evaluate application of techniques for measuring & managing brand value in creation to
developing a strong brand..............................................................................................................14
CONCLUSION..................................................................................................................................15
REFERENCES...................................................................................................................................16
Books & Journal:...........................................................................................................................16

INTRODUCTION
In business, it is important to market a brand or advertise on basis of which it is easy to
achieve goals and objectives. Brand management is defined as technique which is used to increase
the value of product or service within period of time (Babčanová, 2019). Main aim of this report is
to understand the importance of brand and its concept to achieve competitive advantage. LIDL GB
store, a grocery and supermarket store headquartered in U.K. The company has 21,481 employees
in Britain & has many competitors such as Dollar General, Walmart, SperValu etc. They have
larger stores as compared to Aldi which attracts customers at larger scale. This report comprises of
importance of branding, components of brand strategy, strategies portfolio management, bran
equity management & hierarchy, managing brands through collaborative & partnership and
techniques for measuring brand value.
TASK 1
P1 Discuss the importance of branding as a marketing tools and how it emerged in business
practices.
Branding refers to a marketing activity in which a company creates a name, symbol, design
etc. That helps in easily identify company products and differentiate its products & services from
other competitors available in market. Branding is an important tool for any organisation which
help in making a memorable impression in the mind of consumer. It also allows customers and
clients to know exactly what to expect from the company (Beverland, 2021).
Branding emerged in business practices
Brand logo of Lidl GB store make a memorable and powerful impression for company.
Which help customers in instantly recognize its products. Branding helps in creating trust of its
customer. It is known as an important component of advertising. A good brand image helps in doing
promotional activity for chosen company. Strong brand image of company helps in guarantees
future business.
Importance of branding
 Branding gets recognition- Branding helps an organisation to become known and
recognition to there customers. Brand logo of chosen company is most important element of
branding, because it was the face of company (Borkovsky, 2017). For example- In reference
of chosen firm, their brand recognition has been increased as they have increased their
marketing activities at larger level for example promoting through Facebook & Instagram.
 Increases business value- brand image of Lidl increase a business value by providing more
leverage in the industry. Brand value of chosen company generate future business for it.

 Generate new customer- A good brand image of chosen company helps in generating new
customers for it. because of a strong brand image, company creates a positive impression
among consumers. Once a brand has been established in the market, word of mouth is the
most effective technique for advertisement. For example- in relevance of selected entity,
their customer ratio has increased as because of tracking of activities of old and new
customers and then implementing marketing strategy.
 Improve employees satisfaction- These people work for successfully achievement of goal
in an organisation. The good brand image of Lidl GB make there employees to work with
more efficiency. because when an employee works for a strong branded company they will
be more satisfied with their job.
 Create trust- Strong brand image of chosen company build trust with its customer and
potential customers. buyers always want to purchase products form an reputed company.
Lidl GB provides good quality products at a reasonable price to there customers, which
create trust towards company.
Brand equity-
It refers to a value premium that relevance company generates from its product with a
memorable name when compared to its competitors.
Advantage-
 Financial benefits- With a positive brand equity, the chosen company can charge more for
its products & services. because when customers believes in brand name of company they
more likely to pay a higher price for its products (Brandão, 2020).
Disadvantage-
 Investment cost- For building a positive brand equity Lidl GB require a heavy investment
and particularly in promotion. While advertising is known as the most powerful tool in
creating a brand image.
Brand positioning-
It means creating an image in the mind of there customers or target market, that differentiate
it form its competitors. It makes easier for customers to purchase products from chosen company.
Advantage-
 Differentiate from competitors- It is one of the most impactful benefit of brand
positioning. Their are many competitors who provide same product as the relevance
company. So it provide a reason to company brand to exits in the eyes of their customer
(Buys, 2020).
Disadvantage-