Brand Management in Business Practice

BRAND MANAGEMENT
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Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Importance of branding as a marketing tool and emerged in business practice....................1
P2 Components of successful brand strategy..............................................................................3
TASK 2............................................................................................................................................5
P3 Various strategies of portfolio management, brand management, brand hierarchies............5
TASK 3............................................................................................................................................7
P4 Brands are managed collaboratively and in partnership both at a domestic and global level
.....................................................................................................................................................7
TASK 4............................................................................................................................................8
P5 Various kinds of techniques for measuring and managing brand value................................8
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
.......................................................................................................................................................13

INTRODUCTION
Brand management refers to a process of planning as well as measuring that how brand is
perceived at the market place. Brand management includes the various number of essential
aspects like for an instance consumer satisfaction, competition level, cost, in- store presentation
etc. If the brand management will be proper, then it will get the higher sales and well as more
productivity. It involves to managing the intangible as well as tangible specifications of the
brand. This given report is based on the Coca- Cola company and it is American Multinational
beverage organisation, retailer of the no- alcoholic beverages and also syrups (Ashworth and
Kavaratzis, 2010). Under this given business report mentions about the significance of brand
management as marketing tool. There is a discussion about the various kinds of strategies of
portfolio management, brand equity and also the brand hierarchy management. If the brand will
be good, then it will help in enhancing sales and profit level of a business firm. The different
kinds of tools and techniques are used by company for managing and also analysing the brand
value will be discussed under this given report. Under this mention assignment will discussed
about the brands are managed collaboratively and also in partnership at the global and domestic
level.
TASK 1
P1 Importance of branding as a marketing tool and emerged in business practice
Branding refers to a procedure which includes and also develop a unique image as well as
brand name of products in the mind of consumers through the advertisement campaigns.
Branding is a marketing part which is concerned with dealing with an analysis as well as
planning of the brand positioning, brand perception, target consumers and also the brand image.
For the brand management, it is necessary for an organisation to main the quality of goods and
services in an effective or better manner (Balmer, 2012). An image of brand can be analysing or
also maintained through the intangible along Howth the tangible assets of goods. In intangible
aspects includes consumers experience, positioning, consumer relationship with brand etc. On
the other hand, in tangible aspects consists pricing, augmented products, core products,
packaging and many more.
If the brand value of firm will be good, then it will help in increasing the sales as well as
perception of consumers towards the products of firm in an effective or better manner. Branding
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contribute towards the development and growth of an organisation. It helps the business firm to
maintain and also develop a better relationship with consumers. From this firm can sustain at
market place for long time period. It is helpful for managers to examine the taste and perception
of customers towards the services and products which are offered through an organisation. At
market place, each and every consumer is brand conscious (Barrow and Mosley, 2011). They
need the better quality branded services as well as products. In this present time period, it is
necessary for each and every business firm to develop and also maintain the positive image of
brand at the competitive market place. It will be helpful of business firm to capture the large
market share and also target the other market in an effective manner. It assures that the effective
brand management helps in providing the competitive benefits to firm. The main advantage of
brand management is to providing an effective opportunity to company in order to differentiate
its services and goods as comparison to its other strong competitors at the market place. It helps
in attracting the more consumers at market and increasing sales in a systematic and proper
manner. Importance of branding are given below as above:
It gives retain able assets- The major reason behind an importance of branding is that it
helps in remain same and also give the different long term advantage to an organisation. At
market place, Coca- cola company has good brand value and people purchase its products more.
It is necessary that firm should regularly make changes in its services and products to increasing
sales because the taste and preferences of consumers changing day by day. Brands is regarded as
a most attainable asset for each company. In addition to Coca- cola organisation, this is a famous
brand almost more than the 120 years and value of this product is more at market place
(Baumgarth, 2010).
Provide a competitive advantage- Each and every size of companies whether they are
medium, small and also large needs to be the specific amount of money as well as resources in
order to compete with their strong competitors at the market place. This company developed and
also execute different effective strategies which will be helpful in achieving the set
organisational goals and objectives in a given time period. After doing all this in a right manner
then brand of a company need to reflect its plan. It will be helpful; in promoting the major areas
so that company can move forward.
It inspires staff members- Most of the workers require to do additional activities other
than the work. They need to do something good for company. It is essential that manager should
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