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Branding in Business Practices

   

Added on  2020-06-03

20 Pages4903 Words141 Views
BRAND MANAGEMENT

Table of ContentsBRAND MANAGEMENT..............................................................................................................1INTRODUCTION...........................................................................................................................3Section 1...........................................................................................................................................3P1 Explanation about the significance of branding as marketing techniques and its impactupon the business practices.........................................................................................................3P2 Analysis of the major components of successful brand strategy for design brand equity....5Section 2...........................................................................................................................................6P3 Explanation about various brand strategies, portfolio management, brand hierarchy andbrand equity management...........................................................................................................6P4 Evaluation about how brands are collaboratively and in partnership both at domestics andglobal level................................................................................................................................13P5 Evaluation about various techniques for measuring and brand value using both brands....14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................161

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INTRODUCTIONBrand management consists with tangible and intangible features of brand and it also aplanning on how that brand is perceived in the market. By effective brand, company can attractlarge number of customer and gain impressive profitability. The brand management includestangible component such as price, packaging, look, features etc. On the other hand intangiblecomponent are that experience of customer which has had with associated brand (Beneke and et.al., 2013). Every organisation woks for make its brand more impressive, effective and innovativein the market so as it can able to attract more customers and gain long term sustainability. Thepresent report is based on the significance of branding and key components of successful brandstrategy. In addition to this, various techniques and strategies for measuring and managing brandvalue over time has been also addressed with respect of Google and Apple corporation. Themajor objective of this report is to acknowledge the importance of brand management and itsseveral strategies which help to both brands in improving its position in the market.Section 1 Understanding about how brand built and managed over timeP1 Explanation about the significance of branding as marketing techniques and its impact uponthe business practices.What is brandBrand is a symbol, feature, design, name, logo of product, service and concept that helpsto organisation in distinguishing it from other firms in the market. With help of brand, companycan easily communicate and marketed its product and services in the market and attractcustomers toward brand. A unique sign and symbol can create image of company through whichit can differentiate its product and services from other rivals in the market.Brand is an important toolBrand is an important marketing technique through which firm can communicate itsproduct and services in front of customers (Bringle, Hatcher and Jones, 2012). The majorobjective of using branding as a marketing technique is to differentiate its product and servicesfrom other competitors in the market. While product have a unique name, symbol, feature,packaging, appearance and image then it becomes easier for customers to find out product in acrowded market. A brand helps to customers in reducing their time for search the product in themarket. In addition to this, with help of unique brand, customer can evaluate quality , features,3

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