Brand Management Analysis: PDF
Added on 2021-02-19
17 Pages5344 Words55 Views
Brand Management
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3Introduction.................................................................................................................................3Main Body...................................................................................................................................5Conclusion...................................................................................................................................7TASK 2............................................................................................................................................7P3 Analyse different strategies of portfolio management, brand hierarchy and brand equitymanagement................................................................................................................................7TASK 3............................................................................................................................................9P4 Evaluate how brands are managed collaboratively and in partnership both at a domesticand global level...........................................................................................................................9TASK 4..........................................................................................................................................11P5 Evaluate different types of techniques for measuring and managing brand value .............11CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15.......................................................................................................................................................16
INTRODUCTIONBrand Management is define as a marketing function that is used to enhance the worth ofproduct or its brand over time (Kapferer, 2012). In order to manage effective brand managementa company need to develop strategic plan which will enable cost of goods to rise as well as willdevelop loyal customers through positive brand associations. This report is based on H&Mcompany which is retail industry and deals in the products of fast fashion clothing of men,women and children. It was founded by Erling Persson in the year 1947. Its headquarter issituated in Stockholm, Sweden. Respective company serve their products as well as servicesacross the globe such as Hong Kong Melbourne and many more. H&M has approx 140000employees in their organisation worldwide who perform their activities in order to achieve goalsand objective of firm. This report describes about benefits of branding which act a source ofmarketing tool in business practice. There are various components of branding which lead insuccessful organisation in terms of equity. Along with this, there are different strategies forportfolio management, brand hierarchy as well as brand equity management. Therefore, it alsodescribes about several techniques that aid in measuring and managing brand value.TASK 1IntroductionBrand is define as product or service through which customer is able to differentiate itwith other companies. Having a strong brand image, it becomes easy for an organisation toattract customers which help them to increaser their sales and profits. Along with this, it alsoinfluence buying behaviour of customers. Brand equity is define as value that an organisation build through their quality productsand services. In other words, it is refereed to the commercial worth that is derived from customerpreferences of a particular goods and services of a brand. There are various stages that help in building a successful brand which are given as follows:Determine target customer:The first stage in order to make a successful brand,Optimum Impression Limited have to target their potential customers by having effectivecommunication with them (6 Simple Steps For A Successful Brand Building Process,2019). This will help the respective company to understand customer demand and needsso that they can produce their goods and services as per their preferences.
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