Assignment Brand Management
20 Pages5263 Words614 Views
Added on 2020-06-04
Assignment Brand Management
Added on 2020-06-04
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BRAND MANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1SECTION 1......................................................................................................................................1LO1 Demonstrate an understanding of how a brand is built and managed over time.....................11. What is brand?....................................................................................................................12. Why is branding an important marketing tool?..................................................................13.What does brand equity means?..........................................................................................24. How is a brand differs from a product?..............................................................................25. What are the key elements of a strong brand?....................................................................26. How to manage and develop a brand over time?...............................................................37. What are the main challenges developing a brand?...........................................................3M1 Evaluate how brands are managed successfully over time using application of appropriatetheories, models and concepts................................................................................................4M2 Apply appropriate and validated examples within an organisational context.................4SECTION 2......................................................................................................................................4LO2..................................................................................................................................................41.The brands’ portfolio strategy.............................................................................................42. The management hierarchy of the two brands...................................................................53. The brands equity management using the CBBE model....................................................7M3 Critically analyse portfolio management, brand hierarchies and brand equity usingappropriate theories, models and frameworks........................................................................8LO3..................................................................................................................................................91. Extension approaches and strategies of both brands..........................................................92. Ways by which the brands are reinforced and revitalised..................................................93. Collaboration and partnerships with each brand..............................................................10M4 Critically evaluate the use of different techniques used to leverage and extend brands.11LO4................................................................................................................................................121. Brand measurement techniques in relation to both brands...............................................122. Brand equity audit and tracking techniques of the selected brands..................................123. Various approaches to valuing brands..............................................................................13
M5 Critically evaluate application of techniques for measuring and managing brand value inrelation to developing a strong and enduring brand.............................................................13COCLUSION.................................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONBrand value of an organisation is considered to be an intangible asset for the same. It isnot visible as well as tangible but it enhances the value of the firm. Brand management refers tocreating as well as maintaining the existing brand value and positioning in the market. It ensurescompetitive advantage for the venture in the market. Also, it enhances the image of the companyin the minds of its targeted customers. All these will generate beneficial results for the business. SECTION 1LO1 Demonstrate an understanding of how a brand is built and managedover time1. What is brand?A brand can be the name or recognition for a particular product or service or anythingrelated to the market. Brand name provides a distinctive image for the products or servicesprovided by the venture in the market. A brand name and logo of the brand is often protectedagainst other rivals using the same brand name. It helps the customers to recognise the productsthrough their brand names.2. Why is branding an important marketing tool?here are numerous reasons which defines the importance or benefits of branding as a toolof marketing in the market. Some of the reasons are discussed as under:Recognition: Branding acts as an important component of marketing activities for anorganisation, as it helps the firm to bring recognition for its offerings in the market.Credibility: Branding helps in developing credibility in the minds of the targetedcustomers. Thus, it helps in generating more customers for the company. Connect with the audience: An effective brand value helps a firm to connect with thedesired audience. This connection can be materialistic as well as emotional connect withthe passage of time. Loyalty: Once a brand is developed and it connects with the audience, it can generatecustomer retention and loyalty,which are the motives behind marketing.
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