(solved) Brand Management Doc
Added on 2020-10-05
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BRAND MANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................3LO 1.................................................................................................................................................3P1 Importance of branding as marketing tool and emergence in business practice...............3P2 Description on key components successful brand strategy for managing and building brandequity......................................................................................................................................5M1 Evaluate how brands are managed successfully with use of application of theory, modelsand concept. ...........................................................................................................................7LO 2 ................................................................................................................................................7P3 Define the analysis of different strategies of portfolio management, brand hierarchy andbrand equity management. .....................................................................................................7M3 Critique analysis of portfolio management, brand hierarchies and brand equity with use ofappropriate models and framework. ....................................................................................10LO 3...............................................................................................................................................10P4 Description on evaluation how brand are managed at global or domestic level. ...........10M4 Evaluation on use of different techniques to leverage and extend brands. ...................11LO 4...............................................................................................................................................11P5 Evaluation on differ techniques for measuring and managing brand value using specificorganizational example. .......................................................................................................11M5 Description on application of techniques for measuring and managing brand to developstrong brand. ........................................................................................................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONBranding is term that establish the significant and differentiated presence in market and italso attracts and retail loyal customers. It is marketing practice that helps to create name, design,symbol and this assists to differentiate the products form other commodities in market (Kellerand Brexendorf, 2017). Furthermore, effective brand strategy assist in gaining competitiveadvantage. In addition to this, brand represents the customer service, advertising, reputation andlogo of the business.The present report will look over upon business activities of Bentley Motors Limited , itis the enterprise that deals in British manufacturer of the Luxury auto mobiles and also thesubsidiary of the Volkswagen AG founded in 1919. Thus, report will include the followingthings as importance of branding, components of successful branding strategy, differentstrategies of portfolio management, brand hierarchy and brand equity, various techniques formeasuring and managing brand value. Lastly, report will suggest various number of strategiesand brand managing activities to strengthen the brand and to enhance its market sharesuccessfully. LO 1P1 Importance of branding as marketing tool and emergence in business practiceBranding is referred as method that how customer perceived the organization as in simplewords it is promise to consumer. The presence of shift through simple products to brands is notinevitable or sudden as in year 1950, consumer packaged organization such as Procter, Generalfoods, Unilever and Gamble had developed discipline of brand management or marketing. Thereis requirement of appropriate understanding about target consumer which is replicated as brandproposition offered both functionally along with emotionally as well. In the similar aspect, in1950 and 1960. Brands such as kraft, Tide and Lipton had attained excellence in marketingactivities and set benchmarks for each brand. Henceforth, it was beginning from almost 50 yearswhere winning is identified as better understanding of consumer better from competitors andgetting total brand mix in efficient manner. It reflects about expectations of consumer fromservices and products and to obtain prospects as sole provider of outcome with issue andrequirements. It is very useful as marketing tool as it delivers message in clear aspect, credibilityof brand has been confirmed in market place and target prospects are emotionally connected withservice of product. In the similar aspect, buyers are motivated for making purchase and user3
loyalty has been formed (Branding, 2018). It helps in developing strategic marketing plan asbrand directly serves as guide for purpose of understanding key objectives of business andenables to align plan with goals. No business could afford for over-observing brand where rightbrand could directly influence and drove innovative business along with increment in awarenessof business such as:1.Branding helps for growth in reputation as it forms business for recognition and known tocustomers. In this context, logo is very important element which should be powerful andmemorable in easier aspect.2.It helps in generating future business and strongly framed brand helps for increment invalue of business and it also gives more leverage in this particular industry. It is referredas very appealing investment opportunity due to firmed establishment in market place.3.On basis of sales, branding generates revenue and sales with perspective of business. Thiswill create money simultaneously to branding marketing strategies. The consumers willbe tempted for testing it and its outcome will help in identifying about creation of moresales.4.In order for building trust, branding should be spot where consumers will identify abouthow many less or more organization will gain. The exceptional consumer service,positive online communication and experience with service or product on social networkwill lead to return to organization.5.It improves employee satisfaction and employee pride as if employee operates forbusiness with very respected brand and they agree on genuine aspect about position ofbrand. It will lead to huge satisfaction with job and high degree of pride in operating withbig brand.6.Branding workplace and creation of promotional merchandise with employees help forreinforcing strength of brand along with its value.7.The most important aspect is that branding provides protection form competitors whosegoal is to attain success. The significance of branding with business perspective is that itcould not be overstated.8.Branding supports for advertising efforts as it is very expensive like press, TV and radioads, competition, social media ads, special offers along with application of promotionalproducts through organization like outstanding branding. It is very easy for creating a4
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