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Brand Management of Apple company : Report

   

Added on  2020-06-04

17 Pages5836 Words84 Views
Brand Management

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1...........................................................................................................................................1P1 Significance of branding as a marketing tool and it has emerged in business practice.........1P2. Key components of a successful brand strategy for managing and building brand equity...3TASK 2............................................................................................................................................5P3 Various strategies of brand hierarchy, portfolio management and brand equity management.....................................................................................................................................................5TASK 3............................................................................................................................................7P4 Brands are managed collaboratively and in partnership........................................................7TASK 4............................................................................................................................................9P5 Various kinds of methods and tools for evaluating and managing brand value....................9CONCLUSION ............................................................................................................................11.......................................................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONBrand management refers to a marketing function which uses effective tools andtechniques to enhance perceived value of services and product line. Brand management is anecessary activity for each business firm in order to manage all the intangible as well as tangiblecharacteristics of specific brand in market. Under the tangible elements includes cost, products,packaging and also the some other things which are helpful on determining the experience ofconsumers. The present report will discuss certain basic concepts about Brand and Brandmanagement.The second part of the report will focus on two selected brands and how the brands are managedvery successfully by suing application of effective models, theories and also concepts. Thisreport is based on Apple company and it is a large multinational technology firm that deals indeveloping as well as selling computer software, online services and customer electronics (AnnieJin, 2012). In third part of report mentions about the various stargates of brand hierarchy,portfolio management and also the brand equity. Apple business firm uses various kinds oftechnologies for managing its brand value at market place. TASK 1P1 Significance of branding as a marketing tool and it has emerged in business practiceDefinitions of Brand 1.It is a unique symbol, signs, designs, words or can say combination of all these,employed in developing a reputation which determines that product is differentiate fromanother company's products (Annie Jin, 2012). 2.A brand is a product, concept and also service which is publicly different from otherservices or products so that it can easily communicated (Bigné, Currás-Pérez and Aldás-Manzano, 2012). Generally, it is protected from the use through others with the help ofsecuring service or trademark from authorized agency.Branding is an effective marketing tools as its helps in reaching to consumers andenhancing sales in an proper and systematic manner. Under this, good brand increased profit aswell as reputation of firm. Branding is the necessary factor to business firm in order to show a positive image ofproducts and services in front of consumers in market place. It is necessary that business firm1

should be create its better brand image and particular name of services and products. In contextof using this process, it is necessary for Apple to use different types of beneficial methods whichare helpful in maintaining a better and also good image of products like for an instance logo,packaging and some other unique specifications (Bigné, Currás-Pérez and Aldás-Manzano,2012). The main motive of brand is to differentiate the goods and quality of products which arehelpful in developing customer’s loyalty for a long period of time. If the brand name of anorganisation will be good then in this case, a large number of people will be attracted towards it.Apple has a big brand name and it has a large number of loyalty consumers in the market place.At the market place, Apple has a good brand image at the market place.. The effective and betterbrand image of a business firm is helpful in enhancing sales as well as profit level in a propermanner. There are some importance of branding are given below as above:Branding helps in increasing recognition- The brand logo is necessary element whichhelps in inviting along with attracting more consumers which can directly contribute towardsenhancing the sales and also profitability of a business firm. If the barns name of products will begood then from this goodwill of firm will be enhanced in a proper manner (Braun, Kavaratzisand Zenker, 2013). It is necessary that Apple should represent a unique logo, it can develop thegood brand image in consumers mind. It helps in differentiate the Apple company products toother firm.Building trust- It is a procedure which will be helpful in maintaining and developingtrust in between the consumers for a long period of time. In the present time period, persons likefor an instance to buy the good quality and branded products. The main objective of businessfirm is to fulfil needs and wants of consumers. It will be helpful in building and maintaining trustof customers (Brodie and et. al., 2013). Apple gives an innovate and also unique goods andservices to connect the consumers. Brand is helpful in making a strong connection with the targetaudience and develop confidence among them. Branding helps in attracting new consumers- Major aim of branding is to attract newconsumers towards the products as well as company. If firm will provide the attractivespecifications in its products, then it will be helpful in attract a large number of people towardscompany. In order to increase more people, Apple provides attractive and unique features inproducts to customers. 2

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