Brand Management

Brand Management
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
P1.Significance of branding as a marketing tool ...................................................................3
P2. Successful brand strategy components.............................................................................5
M1. How brands are managed successfully ..........................................................................6
M2. Validated examples ........................................................................................................6
TASK 2............................................................................................................................................7
P3. Brand hierarchy, portfolio management and brand equity management.........................7
M3. Analyse portfolio management, brand hierarchies and brand equity ..........................10
TASK 3..........................................................................................................................................10
P4. Brands are managed collaboratively and in partnership................................................10
Brand collaboration & partnership:......................................................................................10
M4. Leverage and extend brands different techniques........................................................13
TASK 4..........................................................................................................................................13
P5. Managing brand value....................................................................................................13
M5. Evaluation of techniques...............................................................................................15
D1. Comprehensive understanding of branding ..................................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16
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INTRODUCTION
Brand management can be describe as the techniques or approach which is consider by
organisation for improving worth of organisation as well as its offerings. Organisation will be
able to increase its business values and image in market area with the support of effective brand
management strategies (Balmer and Wang, 2016). Brand will have direct impact on purchase
ability or requirement of customers as brand is supportive in gaining trust of customers. This
report is based on Dyson Ltd organisation. This is a private company which is dealing in
technology industry. Dyson company was formulated in year 1991 and developer of this
company is James Dyson. Respective organisation is offering different types of commodity to
various part of the world and headquarter of Dyson organisation is located in Wiltshire, England.
Its major products includes Vacuum cleaner, hand dryers, air purifiers, hair dryers and so on.
This report will includes significance of branding as the tool marketing as well as its use in
organisation. Different elements related to successful implementation of brand strategy for brand
equity is also analysed. In this various action plan for portfolio management, band equity and
brand hierarchy is determined. This report consist of different ways to manage collaborative and
partnership at domestic as well as global level. Apart form this, various method for managing or
measuring brand values proper evaluated.
MAIN BODY
TASK 1
P1.Significance of branding as a marketing tool
Branding
Branding can be describe as the marketing practice for building and develop a symbol
name and design that can be used for differentiation of product or company (Balmer, 2017).
There are different ways which are supportive for developing or enhancing brand representation
in potential market place. Branding significant for gaining competitive advantage over other rival
companies. Brand is refer as the term, symbol name and feature which is significant for
developing identity of company or its offering. This is significant for distinct of product form
other companies in market area.
Significane of branding as marketing tool
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There are different marketing tool that is used by company for increase awareness about
company and its products is market area. Branding is consider as the important marketing tool
which is very help for company in order to develop its image in market area or increase customer
base. There are various benefits that could be attain by company by effective branding practices.
 Recognition in market – Branding is significant in developing and enhancing the
awareness about company and its product in market area (Borkovsky and et. al., 2017).
This lead to create image or perception about the company and customers will recognize
company through its brand.
 Increase business values – This is very important for organisation when its is focusing
on growth or development of business. Branding will lead to increase value of
organisation as well as help in satisfying customers through its products and services.
 Generate new customers – Branding is effective marketing tool which is very helpful in
attracting or generating new customers base. This will lead to influence customers form
large market area and increase sales of business
 Creating trust – Branding is essential for developing or creating trust form customers and
individual mostly prefer well established brand products. Customers will be ready to pay
high price of products of good brand as they have more trust on offerings.
There are several advantages that could be attain by Dyson organisation company for
increasing its business activities as well as enhancing sales of organisation. Customers will be
more attracted towards organisation when company has strong brand image and gain trust of its
customers. Branding is very supportive for conducting different marketing activities and carrying
out various organisational task. Marketing practices of respective company can be successfully
performed with the support of effective branding tool (Chatzipanagiotou, Veloutsou and
Christodoulides, 2016). The main reason for considering effective and efficient branding
practices is to influence more customers will be attracted towards organisation order to increase
sales of organisation. Branding practices can be successfully emerge in organisation by
developing a proper plan as well as perceiving how respective company wants to represent its
brand as well as its services. After this its is crucial to communicate brand marking is more
creative and innovative manner that will lead to target prospective consumers. It is important
Dyson company is consistent for performing branding practices as well as increasing image or
reputation of organisation in market area.
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