Branding in Business Practice: Importance and Strategies for Lidl

Brand Management

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
How branding has emerged in business practice.........................................................................1
Importance of branding for Lidl's along with ways of managing brand......................................2
Key components of successful brand strategy for managing brand equity.................................2
Suggestions for reinforcing brand of Lidl....................................................................................3
TASK 2............................................................................................................................................4
Brand portfolio and hierarchy management................................................................................4
TASK 3 ...........................................................................................................................................6
Brand leveraged/extended domestically and internationally.......................................................6
TASK 4 ...........................................................................................................................................8
Evaluate techniques for measuring and managing brand value over time...................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Branding is the organizational activity through which company tend to make
concentrated efforts for increasing its brand awareness by which organizational customer count
can be increase through which organizational sales can be increased (Swaminathan and et.al,
2020). Lidl GB store tends to provide retail organizational services to its customers through
which it is able to achieve high level of brand awareness and efficient economic growth. The
company tend to provide its services in various geographic areas of UK and in order to provide
high level of organizational services to the customers it is having more that 22,000 employee
work forces through which it tends to establish uniformity in its services to the customers.
Evaluation of branding as an effective marketing tool is done in this report while analysing the
factors through which it has to be integrated in the development of business strategies for
managing brand equity. Analysis of different strategies of portfolio management and brand
hierarchy is also done within the report with the evaluation on the ways through which the brand
hierarchy are being build and being managed. Analysis on the different ways through which
brands are being managed for their business collaboration with other domestic as well as global
level organization, through which organizational working strategy of the company can be
identified. Apart from that evaluation of different types of measures and techniques for the
management of specific organization is integrated within the report.
TASK 1
How branding has emerged in business practice
In regard to branding it can be said that it is an important marketing practice that is being
used by companies. In this marketing practice, retailers like Lidl and others create name, symbol
as well as design in order to make their company or products recognizable and different from
others (Swaminathan and et.al., 2020). Companies are focusing on branding the most because of
differentiating their products and protecting customers against fraud. It has been emerged for
taking competitive advantages. Competition is increasing rapidly in retail sector, all retailers of
the UK are striving hard. They are focusing on marketing functions and branding is the one of
those practices that are supporting companies in accomplishing goals and providing values to
customers.

Importance of branding for Lidl's along with ways of managing brand
Branding, marketing practice provides several benefits to companies. In the context of
Lidl, it can be said that it has developed its business to the great extent and in an effective
manner. It provides the highest quality of products to customers at the lowest prices and also
have improved relations with suppliers. Some benefits that Lidl can take by improving brand or
focusing on this marketing practice are:
Business value:
Strong brand can help Lidl in increasing brand value as it gives more leverage to
company in the industry. By making an effective position and firmly establishment it can
improve image.
Generates new customers:
Customers get attracted towards brand that have strong image in the market place.
Strong branding is directly proportional with positive impression among customers. So, by
establishing brand in an effective manner, word of mouth can be the best promotional technique
for Lidl and it will not require investing in other advertising functions (Hupp, 2019).
Employees satisfaction:
When employees work for strongly branded company then they become more satisfied
with their job. They also feel pride in telling others and it boosts their confidence in knowing that
they are the one who work with such a reputed firm. So, by focusing on this, Lidl can increase
staff retention rate and overall performance.
It is found that Lidl makes extensive use of private labels and also makes sure that they
are selling only high quality products to its customers. It is also stated that all products that are
being sold under the brand of Lidl comes under the star category.
Key components of successful brand strategy for managing brand equity
It is stated that Lidl is keeping up with social media trends and for this it publishes highly
engaged posts on Instagram, Facebook and ask questions like react for their favourite burger and
other products option. It helps Lidl in knowing the most liked food and other products as well as
products that are lacking behind. On the basis of this strategy, it makes improvements and
provide value to customers. Some main key elements of brand strategy that can help Lidl in
managing brand equity are:
Brand positioning: