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Management Assignment: Brand Management Assignment

   

Added on  2020-05-28

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Running head: BRAND MANAGEMENTBrand ManagementName of StudentName of UniversityAuthor Note
Management Assignment: Brand Management Assignment_1

1BRAND MANAGEMENTTable of Contents1. Introduction............................................................................................................................22. Discussion on how organisations create its brand..................................................................22.1 Concept of brand identity and its importance...................................................................22.2 Aaker’s brand identity model (ABIM).............................................................................3a. Concept of ABIM...............................................................................................................3b. ABIM Perspective..............................................................................................................51. Brand as a product..............................................................................................................5c. ABIM Perspective..............................................................................................................62. Brand as an organisation....................................................................................................6d. ABIM Perspective..............................................................................................................73. Brand as a person................................................................................................................7e. ABIM Perspective..............................................................................................................74. Brand as a symbol..............................................................................................................7Conclusion..................................................................................................................................8Reference..................................................................................................................................10
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2BRAND MANAGEMENT1. IntroductionBrand is a name or symbol that provides identity to an organisation and the product itmanufactures. Brand management is important for managers, as customers tend to recogniseproducts based on the brand image (Rosenbaum-Elliott, Percy and Pervan 2015). Brandidentity helps in gaining a competitive advantage in the market. The assignment discusses theways by which organisations can create a brand by depending on the various factors thatdefine a brand. The assignment analysis Aaker’s brand identify model (ABIM) in order tounderstand the importance of such brands. Comparisons are made between ABIM andKeller's model in order to clearly understand the differences between the brands. Eachperspective of the ABIM is analysed in the assignment in detail.2. Discussion on how organisations create its brand2.1 Concept of brand identity and its importanceAccording to Vigneron and Johnson (2017), brand identity is considered as a differentconcept than brand image. It establishes a proper intention for branding. It can be said as acollection of various brand elements that a company creates in order to satisfy theorganisational goals and attain customer satisfaction. Brand identity provides liberty to acompany to choose its design, logo and the colour schemes that can attract customers to theorganisation. In this regard, the benefits of brand identity can be analysed. As stated bySolomon (2014) a proper brand identity allows a company to establish itself firmly in themarket. It helps in the creation of an image that is bigger than the organisation. Throughbrand identity, the prospects of a company increase that help it to succeed in the businessworld. Moreover, it helps in building loyalty and trust among the customers so that it caneffectively succeed in the satisfaction of the customers. This is an important benefit for an
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3BRAND MANAGEMENTorganisation as a loyal customer is an important stakeholder as well as an asset (He and Lai2014). Thus, brand identity is considered as an important aspect of an organisation. 2.2 Aaker’s brand identity model (ABIM)a. Concept of ABIMDavid Aaker, a professor of marketing at the University of California, created Aaker'sbrand identity model (ABIM). The model aims to combine brand awareness with brandequity. Apart from this brand, loyalty and brand associations are also considered as part ofthe marketing model that helps in engaging customers and create brand loyalty. Kelley,Sheehan and Jugenheimer (2015) stated that ABIM adds up the factors that make up a brandimage in an organisation. It provides for an extended identity element as it plays a key role inthe success of an organisation. It also enables the brand to adapt to different products and themarkets of different countries. ABIM perceives brand in four different manners. The brand isseen as individual entities that are formed together in order to provide a competitiveadvantage for an organisation. The four perspectives of the brand include product,organisation, person and symbol. Bravo et al. (2017) stated that this model is different from the brand equity modelsuggested by Keller. Keller divided branding stating that in order to build a strong brand it isnecessary that the managers think as per customers. They need to maintain four essentialstages that can help in the proper identification of customers and gain the loyalty of thecustomers. Several steps are considered that are used to create a proper brand image amongthe customers and gain importance in the market. However, Aaker (2013) stated that ABIMprovides separate entity of branding that helps in analysing the features that are needed forcreating a proper brand image.
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