logo

Assignment on the Brand Management

   

Added on  2020-06-06

18 Pages4371 Words56 Views
BRAND MANAGEMENT

INTRODUCTIONBrand management plays an important role in defining the value of companies services. Ithelps the firm in analysing its market reputation and measures of reputation. Therefore, it isimportant for the organisation to manage brand name by implementing effective marketing toolsand techniques to enhance brand management. The report will evaluate brand management ofNike and Adidas, the leading sportswear companies across the globe. The business of both theenterprise is competitive with regard to customer and products because both the firms offerssimilar type of products to buyers worldwide with differentiated quality and pricing. Further,report will outline key components which of success brand strategy which helps the business inmanaging its brand name and goodwill worldwide. Besides, it will identify article which willconsider strategies' portfolio management, brand hierarchy and brand equity management ofNike and Adidas. Also, it will outline tools and techniques which are being used by the leadingsport wear company to measure their brand value and development.SECTION 1P1 Importance of branding as marketing tool and its emergence business practices.Brand: It is the symbol, logo or the term which represents the products and services ofcompany. Brand name is the ultimate things which make differentiate between company and itsproducts in accordance to global competitors. Brand name is important because it plays crucialrole in simplify product handling, enable legal protection, provides identification and helps inorganising accounting (Du Preez and Bendixen, 2015). Apart from this brand name plays a majorrole as it helps in deriving quality of products and services, increases competition and enabledifferent pricing strategy which creates entry barriers in market. Branding is an important marketing tool because it itself is name which is promotion tocompany. Further, branding is marketing tool as it establishes creditability of products andservices of firm. Moreover, the strategy which helps the company in connecting with consumersemotionally. Branding is important marketing tool because it helps in developing loyal customerbase. Further, the brand name is itself a marketing tool which helps the firms in following:Gaining loyal customers: Brand name is important as it helps in deriving loyalcustomers because it is the thing which implies buying decision of customer. Brand nameis the tool on the name of which firm is able to pay asked amount. It is the thing which1

helps in generating consumers trust due to which the companies are able to determiningloyal customers worldwide. Increasing customers: Brand value is the only thing which helps the firm in increasingcustomer base. It is the strategy which helps in making competitor level strong for all therivalries of international market. This denotes the effectiveness of companies productsand services in global market.Entry barrier: It is most thing which is being faced by companies but the effectivenessbrand value helps in making entry easy in international market (Xu-ao, 2012). Differentiation in products and services: Brand name plays an important role indifferentiating between company and its products with regard to innovation and quality.Differentiation in the products is the common thing which helps from in making itsservices different for customers because it helps in gaining consumer trust andestablishing innovation.M1 Evaluation of successful brand management Key components of brand helps in evaluation of brand which comprise following factors:Brand promise: It is the major thing which denotes value and equity of brand. Promiseby brand is the only thing which helps the consumers in developing trust on company andits products. Target audience: The patterns of targeting audience is the only concept whichdemonstrate the effectiveness of brand value and marketing strategy of company. Brand reinforcement: It is the activity in which company focuses on targeting newconsumers in order to increases its market share and brand awareness.P2 Key components of successful brand strategy.Every big organisation have its own brad management and measurement approacheswhich is followed by popular brand in the world such as Unilever, Adidas, Nike and some otherbrands. Brad equity is an approach in which organisation make awareness of their brand nameamong the peoples to attract their loyal customer towards the brand. Target audience: The foremost component of successful brand strategy is targetingpotential consumers. Therefore, for this the firm implements the use of segmentingmarketing and then targeting customers. 2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Report on Significance of Branding - Nike and Adidas
|16
|5187
|61

Brand Management Assignment PDF
|15
|4681
|445

Impact of Branding on Customer Buying Behaviour: A Study on Nike
|1
|992
|92

Competitive Strategy: Analyzing and Implementing Effective Strategies for Competitive Advantage
|9
|2018
|386

Brand Management Assignment: Nike & Adidas
|17
|5454
|318

Brand Management off Adidas and Nike : Report
|16
|5422
|46