Brand Management Solved Assignment - Doc
Added on 2021-02-20
20 Pages6012 Words33 Views
Brand management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Introduction..................................................................................................................................1Main Body ..................................................................................................................................2Conclusion...................................................................................................................................3TASK 2 ...........................................................................................................................................4Analyse the organization brand portfolio strategy.......................................................................4Hierarchy management of brands within organizational brand. .................................................5Analysing the strategy used for managing the equity of brand...................................................6TASK 3............................................................................................................................................7Evaluation of the brand ...............................................................................................................7TASK 4............................................................................................................................................8Techniques used for measuring and managing various tools .....................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONBrand management is the approach that will be used to increase the awareness among thepeople regarding the availability of brand in the marketplace. Effective branding will help inincreasing its value among the customers (Atwal and Williams, 2017). This will help inimproving market share and position of brand. There are different techniques that is being usedto aware people such as through online marketing. This study will emphasize on Optimum Impression Ltd. Company. It is an advertisingcompany. Report will mainly focused on brand and brand equity, stages that is being used inbuilding brand and role of marketing department in creating brand equity. It will also includebrand portfolio and its strategy to survive in the market (Buil, Catalán and Martínez, 2016).Furthermore, it will include brand extension and measures that will be taken to improve brandvalue in the marketplace. TASK 1IntroductionBrand refers to theproduct or services that is being provided to the customer. Brandalways has unique characteristic. Every brand is having its own quality and features that willdistinguish it from other product in the marketplace. Optimum Impression Ltd. Is and advertisingcompany that promote its brand through online marketing. It has certain logo that is being usedby the specific company through which the product belong. Every brand is designed with sometrademark that will facilitate them to become popular in the market (Dessart, Veloutsou andMorgan-Thomas, 2015). Most of the consumers are buying product through its brand name sofor some brand their name is sufficient to sell product to its customers. Brand equity provides value to the brand that will help in attracting more customerstowards the product and services. It provides additional value that will help in providingconsumers unique products and services from the other competitor in the market. It is developedby measuring the customer's experience with the brand. Brand equity is having a positive impactwhen customers are loyal to it. If it is using at consistent rate then its equity will be increased inthe market. Stages of building a brand in the marketThere are six steps that will help in building brand are as follows:1
Determine target audience:- This is the first stage of branding that will help in targeting morecustomers towards it. In this step company is identifying its target customers that will help inbuilding brand in the marketplace. Defining brand mission:- In this step Optimum Impression Ltd. Is setting up its missionstatement that will help in building brand in the market. This also helps in building variouschannels through which brand can be defined into the market. Research Competition:- This will help in analysing the competitors who are offering differentproduct and services to its customers (Du Preez and Bendixen, 2015). This will help in focusingon the brand that helps in creating competitive advantage in the market. Create Value Propositions:- This will help in creating a difference between the brand and makeit unique as compared to other products in the market. Through this a business can be set apartfrom other competitors in the market. Determining brand guidelines:- This will emphasize on the brand guidelines through whichcompany will enable to interact with its customers easily. This will help in making consistencyamong the different channels of the company. Market your brand:- In this proper strategy is being made to set brand in the market. Newchannels will be identified that will help in creating more channels in the market. This stage willhelp in building more brad awareness. Role of marketing department Marketing department will help in building brand equity by promoting product andservices into the marketplace. It uses various promotional techniques that will help in advertisingproduct in the market. It provides flexibility so that product can be easily marketed. Main Body Brand extension is the process of introducing new product in the market with manyinformation contained in it. This is the part of the doing marketing that will emphasize inbuilding more product and services existence (Ertimur and Coskuner-Balli, 2015). As optimumimpression Ltd is doing its advertisement of product and services online by using differentstrategies. This will help in increasing visibility of the brand that attract more customer's towardsthe brand. Through this brand value of the product will increase. Brand extension will help inincreasing the product that will help in creating brand value that will enhancing product and2
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