Significance of Branding in Marketing and Brand Equity Management

This document discusses the significance of branding in marketing and how it has emerged in business practice. It explores the main components of successful brand strategies for building brand equity. It also assesses various strategies of portfolio administration, brand hierarchy, and brand equity management. The case study focuses on Marks and Spencer.

Brand
management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
P1 Explain the significance of branding as a technique of marketing and why and how it has
emerged in business practice..................................................................................................1
P2 Analyse the main components of successful strategy related to brand for building brand
equity......................................................................................................................................3
P3 Assess various strategies of portfolio administration, brand hierarchy and brand equity
management............................................................................................................................4
P4 Brands are handled collaboratively and in partnership.....................................................6
P5 Evaluate different types of techniques for measuring and managing brand value using
specific organisational examples............................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Brand management signifies practices which is organised by business organisation for
appropriately handle brand. There are various tools that are adopted by company for handling
brand and attract large number of users. In addition to this, it is very important to retain loyal
customer for a longer period of time. This assignment is depending upon company named as
Marks and Spencer. This organisation was founded in the year of 1884 by Michael marks as well
as Thomas Spencer. They focus on providing goods and services in various part of Globe. This
assignment involves significance of branding as a technique of marketing. The main factor of
maintaining strategies for successful brand is managing or handling brand equity in an
appropriate manner. In this assignment, there are various strategies which are used for portfolio
administration, brand equity administration and also brand hierarchy is assessed. It also involves
assessment of how brand is handled collaboratively at both local and international level. In
addition to this, there are various techniques that are used for assessing and handling values of
brand which is discussed in this report (Ho Leeand Jung, 2018).
MAIN BODY
P1 Explain the significance of branding as a technique of marketing and why and how it has
emerged in business practice.
Branding signifies action which is taken by business organisation for promoting goods and
services related to brand. It is important for Marks and Spencer to perform or execute appropriate
practices related to branding that offer different advantages during particular phase of time
period. In addition to this, branding plays a significant role in marketing that assists in attracting
large number of user in respect of business that enhances sales of organisation. Marks and
Spencer focuses on enhancing their brand image by offering superior quality goods and services
to its customers and satisfying their need. Apart from this, branding is determined as a
appropriate strategy of company that is useful for enhancing sales in future period of time. The
significance of branding as a tool of marketing that is going to be mentioned below:
The brand provides competitive advantage brand is very significant as it assists
organisation in achieving competitive edge over rivalries at marketplace. By using superior
brand image, the Marks and Spencer is capable to achieve competitive edge over rival firms at
marketplace and also it is used in executing different practices of organisation. There are various
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tools of organisation that is determined in order to execute organisational task of company.
Brand is significant practices that provide support to company in enhancing market share of
organisation.
Attract customers brand is important for attracting large number of user in respect of
company. The brand image related to Marks and Spencer is capable to attract large number of
user and enhance sales of organisation. Therefore, the brand image of organisation is determined
to be significant as it attracts a large number of users with motive or purpose of increasing brand
image. Their strong branding which is effective for improving favourable impression of brand
between customers (Hung and Lu, 2018).
Increase profitability increase profit margin of organisation is the major aim of company
and it is important for respective organisation to improve superior brand image for enhancing
profit margin. Branding is determined as an important part of company as it assists in increasing
practices of marketing of company. It is significant as branding will aids assistance in creating
business value which will be important for appropriately perform practices of company.
Branding is significant marketing tool as it imposes direct effect on enhancing profit margin of
company and also successfully increased practices related to organisation.
Enhance customer loyalty by using strong brand in the organisation; they will be capable
to increase satisfaction level of user. Branding is significant marketing technique and it is
important for enhancing loyalty of customer and for improving its brand image. It is important
for Marks and Spencer to determine appropriate practices related to branding with motive of
achieving goals as well as objective in timely manner. Therefore, it is necessary to improve
loyalty of customer in order to increase base of user and generate positive image at marketplace.
In addition to this, branding is determined as a significant part of organisation at it will
lead to enhance practices related to branding for attracting large number of user in respect of
organisation. Branding practices imposes direct effect on functions of organisation and it is a
crucial for chosen company to consider appropriate activity to perform successful branding. This
strong branding imposes positive effect on organisation and they are capable to perform task of
company in successful manner. The respective organisation focuses on performing various
practices of branding with aim of enhancing profit margin in future period of time. In Marks and
Spencer, branding practices aids assistance in performing different task and activities in proper
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way. As per Marks and Spencer, they adopt different kinds of marketing tool for attracting large
number of user in addition with enhancing revenue or income of organisation.
P2 Analyse the main components of successful strategy related to brand for building brand
equity.
Brand strategy signifies the long-term planning related to brand for achieving goal and
objective of organisation. It is significant for Marks and Spencer to appropriately use brand
strategy for improving brand equity. There are various elements which is important for
improving superior brand equity (Islam, Rahman and Hollebeek, 2018). In addition to this, brand
equity signifies commercial value related to organisation from the perspective of user in respect
of brand image of organisation. This will involve perception of user regarding particular goods
and services which is provided by organisation that help in improving a brand image and
reputation of organisation in front of user at marketplace. It also signifies values which are
adopted by organisation in its similar product under specific brand name. This is important for
making superior brand in comparison to other competitive organisation. The action plan that is
adopted by Marks and Spencer to enhance brand value that is given below:
Brand awareness for generating awareness regarding goods and services, the chosen
organisation focuses on considering various approaches in appropriate way. This is appropriate
technique for enhancing awareness regarding services and providing different product to its user.
Brand loyalty The Marks and Spencer required to providing appropriate services along
with superior quality of goods for enhancing brand loyalty and trust of user in respect of
organisation. In addition to this, it is appropriate approach which is important for increasing
brand reputation of organisation by fulfilling need of its user.
Regular product launches Marks and Spencer should offer continuous product with
objective of increasing brand value and attract large number of user towards organisation. By
continuous launches of product, the organisation focuses on assessing need of user and launches
goods according to their requirement. It is important for enhancing brand value for achieving
goal in timely manner (Kaur and Kaur, 2019).
There are various factors for maintaining or managing brand equity during the period of
time. It is important for Marks and Spencer organisation to assess those factors which is
important for enhancing brand image that is going to be given below:
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Communication factor it is important factor for increasing brand equity as this will
assist in offering correct information to its user regarding brand. Communication will aids
assistance to organisation to improve brand equity and offers superior quality goods for meeting
or satisfying need of its user. It is necessary for management team of Marks and Spencer to
provide accurate information to its user in respect of brand for enhancing sales in future period of
time. Therefore, the manager focuses on providing products and services according to demand of
its user. It increases experience level of customer during the period of time (Khan and Rahman,
2017).
Strategies Marks and Spencer focuses on improving superior strategy related to brand
which is helpful for offering direction to organisation for performing activity related to brand
management in an appropriate manner. The management team of chosen organisation
emphasised on making appropriate strategies for satisfying need of its user. Strategy is important
for offering guidance to organisation that helps in achieving goal in timely manner.
Increasing awareness it is significant for organisation to perform various practices which
is important for increasing awareness regarding goods and services at marketplace. This factor
will impose direct effect on whole performance of company and also in its brand equity.
Therefore, it is necessary to generate awareness of products and services in front of customer at
marketplace.
P3 Assess various strategies of portfolio administration, brand hierarchy and brand equity
management.
The portfolio management possess selection and appropriate controlling or monitoring of
program of business organisation for achieving or gaining favourable outcome related to
services. The primary goal of portfolio administration is to manage execution of changes for
achieving favourable outcome in future period of time. According to Marks and Spencer, it is
determined as a famous multinational retailing organisation as they possess different kind of
portfolio administration strategy which is important for holding position at competitive
marketplace. It signifies different strategies of portfolio management that assist in providing
guidance in respect of handling goods and services of company (Pongpaew Speece and
Tiangsoongnern, 2017).
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Passive management as per this strategy, the organisation focuses on achieving objectives
of business organisation for accomplishing competitive edge over rivalries at Marketplace. As
the organisation can focus on conducting their activities in appropriate way that is a given below:
Indulging in long term trading herein, the focus is on increasing portfolio administration
where company execute their trading to increase scope related to portfolio.
Investment in index funds as condition occurs, when organisation focuses on having
wider portfolio that describe Marks and Spencer is facing or confronting different kind of
challenges at Marketplace.
Active management it is significant strategy which is important to used by organisation
that is connected to information analysis of specific organisation portfolio as company focuses
on perform their task or work in various way that is going to be mentioned below:
By using quantitative analysis organisation must include offering arithmetic comparison
in order to evaluate success of portfolio strategy in an appropriate way (Pourazad,Stocchi and
Pare, 2019 ).
Diversification factor as specific organisations named as Marks and Spencer required to
having diverse portfolio to increase the scope related to success and growth at market place.
From above given discussion of different strategy related to portfolio administration, the
organisation such as Marks and Spencer must determine or consider active management because
they use diversification strategy.
Brand hierarchy: It signifies regarding series of goods which produces and marketing
under name of organisation or its brand. There are different types of goods provided by Marks
and Spencer such as clothing as well as home appliances which is manufactured in production or
manufacturing house for marketing purposes. It signifies different strategy that is given below:
Branded house according to this strategy, the organisation or company assess brand as
well as sub brand in of organisation that is not associated with primal brand. It helps organisation
to become stronger in comparison to its competitive organisation during the period of time.
House of brand as per this approach, sub brand is considered as a differ from organisation
as they focuses on advertising sub brand for increasing experience level of user during particular
phase of time period. In addition to this, Marks and Spencer focuses on promoting its brand in
order to attract large number of user at Marketplace.
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On the given explanation regarding brand hierarchy, there are different strategies which are
assessed by chosen organisations such as brand, clothing, electronic appliances as well as many
others in order to retain user for longer period of time at Marketplace. It is a determined as a
flexible for organisation for differentiated their product from its rival firms in order to achieve
competitive advantage over rivalries at marketplace (Serebruany, 2018).
Brand equity management signifies system related to process of research that focuses on
optimum utilisation of information in order to achieve objectives in long run. Organisation
named as Marks and Spencer adopts brand equity administration that is given below:
Salience this is a first level that help in generating awareness regarding company products
and services at marketplace.
Customer focus is on fulfilling need of its user by using different advertisement
technique.
Promotion herein, there is two need of organisation perspective to maintain relationship
with its user. It is also helpful in retaining customer for a longer period of time.
Judgement according to this stage, good is introduced according to user perspectives.
Resonance this is determined as a highest procedure where organisation focuses on
determining model of customer physiology in context of satisfaction level of its user.
P4 Brands are handled collaboratively and in partnership
For company, the brand is important to manage and handled by company. The similar
brand name organisation create market share and value which they want to needed for
maintaining at market place. Furthermore, brand represents in mind set of user in order to
maintain a long term relationship with them. The Marks and Spencer is determined as well-
known retailing organisation that provides their product at global level. Marks and Spencer
focuses on providing clothing, food product in their own tag. All the brand administration is
significant and important concept for organisation that help in achieving competitive edge at
market place. In assistance of this, the operation of company along with small organisation is a
major way or method for exploring value at market place and increasing brand image as well as
reputation of company in front of customer at marketplace (Vermorken, van Dam and Brand,
2020).
Brand extension it is a common brand that provide assistance in managing competitive
atmosphere. This help in building appropriate relationship with its customers by providing them
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goods according to their needs. In assistance of this, brand extension focuses on introducing
latest goods and services by spreading existing product as well as services in front of user at
marketplace.
Strategies and approaches of brand extension there are various organisations that focus
on dealing in various goods as well as services in comparison to its competitive firm. In addition
to this, it is significant for every organisation to design its own strategy in order to perform
different work in an appropriate manner. Therefore, the goal of organisations is same as their
focus is on attracting large number of user during particular phase of time period. If manager of
Marks and Spencer focus on creating higher revenue than they should focuses on increases
loyalty or trust of its user. In addition to this, the organisation can adopt various promotional
techniques like advertisement, commercial ads, meeting and so on that assists in promoting
goods and services at Marketplace (Tanveer and Lodhi, 2016). There are various strategies
related to brand reputation are going to be given below:
Brand imagination it is determined as a plan which every company follow for success of
organisation and for maintaining relationship with its customer and so on.
Innovation it is determined is a technique in which organisation focuses on performing
their work along with some new offering at market place and it is also helpful in grabbing
attention of user. In addition to this, they also focus on offering assistance for managing a
superior relationship between company and its customer. It helps in increasing sales and profit
margin in future period of time.
P5 Evaluate different types of techniques for measuring and managing brand value using specific
organisational examples.
There are various techniques and approaches which are used by business organisation for
managing or handling brand value. It is significant for organisation in determine appropriate
approaches for successfully implement major practices of organisation. There are various types
of technique that help in handling values of brand that is going to be given below:
Customer attitude it is significant for organisation to assess demand of user for taking
correct decisions related to user. The Marks and Spencer focuses on taking feedback of user for
increasing brand value.
Feedback Marks and Spencer focuses on organising survey for assessing opinion of user.
This is appropriate techniques for assessing need of its user. Feedback will assist user to take
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appropriate decisions for increasing brand value related to organisation (Xie, Poon and Zhang,
2017).
Brand Awareness it is determined as a marketing term that signifies degree of recognition
of goods by its name. In assistance of this, the organisation focuses on generating awareness for
promoting its goods and services that help in achieving competitive advantage over rivalries at
marketplace.
Promotion for generating brand awareness within business organisation, they adopt
promotional technique that assists in grabbing attention of different individual person in an
appropriate manner. There are various techniques which are used by company such a sample,
providing free gifts and so on for promoting its product (Zelenskaya and Elkanova, 2020).
CONCLUSION
On the basis of above given report, it is assess that brand management signifies practices
which is organised by business organisation for appropriately handle brand. There are various
tools that are adopted by company for handling brand and attract large number of users. In
addition to this, it is very important to retain loyal customer for a longer period of time. This
assignment involves significance of branding as a technique of marketing. The main factor of
maintaining strategies for successful brand is managing or handling brand equity in an
appropriate manner. In this assignment, there are various strategies which are used for portfolio
administration, brand equity administration and also brand hierarchy is assessed. It also involves
assessment of how brand is handled collaboratively at both local and international level. In
addition to this, there are various techniques that are used for assessing and handling values of
brand which is discussed in this report.
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REFERENCES
Books and Journals
Ho Lee, S. and Jung, K.S., 2018. Loyal customer behaviors: Identifying brand fans. Social
Behavior and Personality: an international journal, 46(8), pp.1285-1303.
Hung, H.Y. and Lu, H.T., 2018. The rosy side and the blue side of emotional brand
attachment. Journal of Consumer Behaviour, 17(3), pp.302-312.
Islam, J.U., Rahman, Z. and Hollebeek, L.D., 2018. Consumer engagement in online brand
communities: a solicitation of congruity theory. Internet Research.
Kaur, H. and Kaur, K., 2019. Connecting the dots between brand logo and brand image. Asia-
Pacific Journal of Business Administration.
Khan, I. and Rahman, Z., 2017. Development of a scale to measure hotel brand
experiences. International Journal of Contemporary Hospitality Management.
Pongpaew, W., Speece, M. and Tiangsoongnern, L., 2017. Social presence and customer brand
engagement on Facebook brand pages. Journal of Product & Brand Management.
Pourazad, N., Stocchi, L. and Pare, V., 2019. The power of brand passion in sports apparel
brands. Journal of Product & Brand Management.
Serebruany, V., 2018. Adverse event profiles after brand and generic clopidogrel in the Food and
Drug Administration Adverse Event Reporting System (FAERS).
Tanveer, Z. and Lodhi, R.N., 2016. The effect of brand equity on customer satisfaction: An
empirical study based on David Aaker's Brand Equity Model. IUP Journal of Brand
Management, 13(3), p.43.
Vermorken, J.B., van Dam, P. and Brand, A., 2020. HIPEC in advanced epithelial ovarian
cancer: why is there controversy?. Current Opinion in Oncology, 32(5), pp.451-458.
Xie, L., Poon, P. and Zhang, W., 2017. Brand experience and customer citizenship behavior: the
role of brand relationship quality. Journal of Consumer Marketing.
Zelenskaya, E. and Elkanova, E., 2020. Designing place brand architecture: the potential of a
sub-brands strategy. Journal of Product & Brand Management.
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