Brand Management

Brand Management

Contents
INTRODUCTION......................................................................................................................................3
LO 1............................................................................................................................................................3
P1 Importance of branding as a marketing tool and why and how it has emerged in business
practice...................................................................................................................................................3
P2 Key components of a successful brand strategy for building and managing brand equity...5
M1 Evaluate how brands are managed successfully over time using application of appropriate
models and concepts...........................................................................................................................7
M2 Apply appropriate and validated examples within an organizational context.........................7
LO 2............................................................................................................................................................7
P3 Analyze different strategies of portfolio management, brand hierarchy and brand equity
management..........................................................................................................................................7
M3 Critically analyze portfolio management, brand hierarchies and brand equity using
appropriate theories, models and frameworks..................................................................................9
LO 3............................................................................................................................................................9
P4 Evaluate how brands are managed collaboratively and in partnership both at a domestic
and global level.....................................................................................................................................9
M4 Critically evaluate the use of different techniques used to leverage and extend brands....12
LO 4..........................................................................................................................................................12
P5 Evaluate different types of techniques for measuring and managing brand value using
specific organizational examples......................................................................................................12
M5 Critically evaluate application of techniques for measuring and managing brand value in
relation to developing a strong and enduring brand.......................................................................13
CONCLUSION........................................................................................................................................14
REFERENCES........................................................................................................................................15

INTRODUCTION
Brand Management can be defined a function of marketing which involves
various methods in order to increase a brand’s perceived value in the market. Effective
brand management helps in building loyalty among customers with the help of positive
images and associations (Abrahams, 2016). There are many advantages of practicing
brand management within an organization which include the company being able to
retain employees for a longer period of time, increase in employee engagement and
differentiation. Organization chosen for this report is Marks and Spencer which is a
multinational retailer of household, clothing, food and beverage products. The company
was founded in the year 1884 by Michael Marks and Thomas Spencer. It is
headquartered in London, England, United Kingdom. The company has many brands
under it some of them being Autograph, Rosie, Limited, M&S Collection etc. The report
explains how a brand is built and then managed overtime and also analyzes how
different brands are organized into various portfolios. Apart from this, an explanation of
how brands are extended both domestically as well as internationally over the years is
also provided.
LO 1
P1 Importance of branding as a marketing tool and why and how it has emerged in
business practice
A marketing practice wherein an organization creates a name, logo, or design
that can be easily recognized or identified as a belonging to it by the customers is
referred to as branding. It helps the company in differentiating itself from other products
as well as services available in the market (Gao and Feng, 2016). Branding is an
important practice because it can leave a lasting impression on the minds of customers.
One of the most important reasons why branding is important for a business is as
because of it a company can stand out in the market and differentiate itself from other
brands. Also, customers can recognize the brand easily through its logo as it serves as
the face of the company. Branding also helps in addressing the competition which is
posed by new entrants in the market. It also adds to the business value of the company

and provide an increased leverage in the respective industry (What Is Branding And
Why Is It Important For Your Business?, 2020).
Brand:
Brand denotes as the name, term, design or symbol that proved identical for
people while buying products and services of the specified organization.
Marks and Spencer is one of the oldest brands in the world that still continues to
have operations in different parts and is successful. The founders, Michael Marks and
Thomas Spencer were devoted to convincing their customers that the brand is worth
paying more for. For its branding, the company has always made use of its logo to
demonstrate that although the core idea of its values remains same, the company has
made various efforts to re-assess the meaning of value (Grubor and Milovanov, 2017).
This has led the company to newer segments of customers in different parts of the
world and also contributed to the overall profitability. The process of branding also helps
in improving employee satisfaction because when an employee works for a company
that is highly branded company, he/she is more satisfied with their job. And as a result,
they put in their best efforts in their jobs and also take pride in their work.
The concept of branding has evolved tremendously over the years and become
more important in the recent times. This is also because the level of competition has
also increased and there is a need for brands to set themselves aside from each other.
Branding has majorly evolved with the outbreak and extensive use of mass media. In
earlier times, brands had to invest a lot of time as well as money and mainly relied on
television commercials, print ads in magazines and newspapers etc. Due to this, small
businesses found it more difficult to brand themselves. But with the emergence of social
and digital media, it has become easier for the brands to reach global audience and
also have access to every possible situation to market themselves. This has in turn led
to an increase in their overall profitability as well as performance in the market. Brands
as well as customers can connect each other easily through different platforms of social
media like Instagram, Facebook and Twitter.