An Exploratory Analysis of Virtual Brand Communities
Added on 2020-07-23
16 Pages4588 Words44 Views
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BRAND MANAGEMENT
Table of ContentsINTRODUCTION ..........................................................................................................................1SECTION 1......................................................................................................................................1TASK 1............................................................................................................................................1P1. Importance and significance of branding as a marketing technique.....................................1M1. Brands are managed successfully with using models and concepts....................................2P2. Key components of brand strategy for managing and building the brand equity.................3M2 Apply validated and appropriate examples within an enterprise..........................................6D1 Critical evaluation of understanding branding within an organisation.................................6SECTION 2......................................................................................................................................6TASK 2............................................................................................................................................6P3 Different strategies of brand equity, portfolio management and brand hierarchy.................6M3 Critical analysis brand equity using accurate frameworks...................................................8TASK 3............................................................................................................................................8P4 Brands are managed collaboratively and in partnership both at a global and domestic level.....................................................................................................................................................8M4 Critical evaluation of using various tools used to extend brands and leverages..................9TASK 4..........................................................................................................................................10P5 Various types of tools for managing and measuring brand value .......................................10M5 Critically evaluation of techniques and tools for measuring brand value.........................11CONCLUSION ............................................................................................................................11REFERENCES................................................................................................................................1.........................................................................................................................................................2
INTRODUCTION A brand is a symbol, design, term, name and many other features that distinguish anenterprise or goods from its competitors in the eyes or minds of client. Brand management is aprocess of upholding, keeping and improving the image of company so that the brand will getconnected with positive outputs. It involves various number of essential and beneficial aspectssuch as client's satisfaction, cost, in store display and competition. This project is based on two different organisations such as Coca-Cola and Pepsi; bothare the biggest selling and popular soft drink companies in world (Ashworth and Kavaratzis,2010. This report discussed about the importance of branding and key aspects of brand strategiesfor making brand equity. Different strategies of portfolios management, brand strategies andequity are also determined in this study. Brands are managed in partnership and in collaborativeat national and international level, it is also covered in this report. There are various tools andtechniques for measuring the brand in an effective way which is also shown in this project. SECTION 1TASK 1P1. Importance and significance of branding as a marketing techniqueBrand: It refers to the sign, words, symbol and unique design of products and services ofcompany. It is an essential and beneficial part of company because it described the businessposition in marketplace as well as in customer's mind also.Branding: It is an effective process of developing a product’s name and image for abusiness products or services in the eyes of customers. This implements mental structure andsupport customers in order to increase their knowledge and skills about company products. Importance of branding: It is essential and significant for the organisation to develop aneffective name of product. It delivers entire useful message to audience and creates credibility ofbusiness in an effective manner (Brodie and et. al., 2013). There are some importance ofmarketing as a marketing tool given as below: Build customer loyalty:Both; Coca-Cola and Pepsi are famous and well-defined brandsin all over the world. They mainly deal in different beverages with good quality and affordableprice. Unique and effective brand easily builds customer loyalty which is beneficial for theorganisation to increase their sales and revenues in minimum time period. 1
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