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Project Report on Brand Management

   

Added on  2020-06-04

17 Pages5081 Words50 Views
BRAND MANAGEMENT

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1 : How a brand is built and managed over time..................................................................3P1 The significance of branding as a marketing tool ............................................................3P2 Important components of a successful brand strategy ....................................................6TASK 2 : Building Brand Hierarchies and Portfolio Management ................................................9P3 Various strategies for Portfolio Management, brand equity and Brand Hierarchymanagement............................................................................................................................9P4 Partnership and Collaboration among brands at domestic as well as International Level.12P5 Various types of methods to measure brand value in context of the Apple ...................13CONCLUSION .............................................................................................................................15REFERENCES .............................................................................................................................16

INTRODUCTIONBrand Management is a technique of analysing and planning of the brand perception inthe market or industry. Brand Management concentrate on creating a healthy or effectiverelationship among the customers and target market. This report will analyse and describe thedifferent importance of branding as a marketing instrument along with its usage in organisationalactivities and the methods to use it. The various of brand strategies used for building brandequity and management will be also described in this report. The report also consist a briefanalysis of various strategies of portfolio management, brand hierarchy and brand equity.Furthermore, The study also determine various components and factors that helps a brand formanaging collaboration at global and domestic level. Methods of measuring the brand value willalso be determined in this report. TASK 1 : How a brand is built and managed over timeP1 The significance of branding as a marketing tool What is Brand? - Brand is a concept, service or product that distinguish from other products orservice provided by the rivals or competitors in the marketplace. It assists to communicate andmarket the products in the market. A Brand of an organisation or company is used as acomponent or feature for the evaluation of a company or business. Branding is considered as amost critical and important element of the marketing process of a service or product. Accordingto the current market situation or conditions each and every product in a market has a lot ofcompetitors or substitutes produced by other companies or organisations. These organisationscreate a highly competitive market condition and create competitive strategies for gaining morecustomers. Various marketing association describe brand as a name, term, symbol or design andthe combination of those elements developed for identifying the products or services of a groupand seller also differentiate them from the services or products of other companies(Lin,2015).Brand Equity of Apple A Brand Equity refers to summing up the branding strategies by showing the nature andnumber of distinctive as well as common elements of brands across an organisation's products,revealing the expressed in order to brands elements. Brand hierarchy is an important way ofgraphically displaying an organisation's strategies of branding. Development stages of brand equity according to CBBE modelBrand Identity refers to Who you are

Brand meaning refers to What are you Brand Response refers to What are the notions for the brand Brand Resonance refers to a strong relationship Indexing – This system styles take point of interests for making creative administrations andpromotion patterns.Efficient Showcase theory – This theory or style states that a business or organisation requiresanalysing the current market patterns which helps in encouraging organisation to develop asmooth business manner. Active Portfolio Management strategy – With regards to this style the business introduce newventures composition by which they receive maximum return benefits. In this process financialprofessional are expecting high rate of return(Maurya and Mishra,2017).Bottom Up Approach – The Bottom up approach states that a business or organisation shouldfocus on their financial or economic development. The management of an organisation analysethe condition inside their business and direct the execution of the organisational activitiesaccordingly. The internal condition should be able achieve organisational goals and objectives.Top down approach – This is an approach business segment the external condition to developtheir own methods and techniques which helps to find out new opportunities. This helps increating a business mark images and draw in maximum various new customers.The Company grasps some portfolio strategies to overhaul the brand picture inside thecommercial centre. It is fundamental to sustain the business activities and make new valuablecourses of action to get advantage salary. Beside that there is another idea known as Brandpecking order(Mosley,2014). Brand chains of command alludes to a pack sort of different brandprocedures. It gathers the brand segments like apple association having unmistakable brandsthrough which they get the best advantage pay. It portrays that what number of differentorganizations gave by the relationship to attract the customer slant. Like the extent that applethey in like manner give some new methods and programming through which they are mostcommended mark. Role of Marketing in developing brand equity Evaluation of Brand – Branding helps to identify a target marketplace or area, researches andstudies are the next important steps for obtaining logical understanding of different customersand their needs from a specific product or service. The Development of a Brand work according

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