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Brand Management Assignment: Microsoft Corp

   

Added on  2020-06-05

15 Pages5335 Words63 Views
Brand Management

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1SECTION 1......................................................................................................................................1P1. Importance of branding as a marketing tool and the way it has emerged in businesspractice...................................................................................................................................1P2. Key components of successful brand strategies and managing brand equity..................4SECTION 2......................................................................................................................................7P3. Different strategies of portfolio management, brand equity and hierarchy management7P4. Brands are managed collaboratively and in partnership..................................................8P5. Different tools and techniques for evaluation and management of brand value..............9CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................11

INTRODUCTIONBrand administration can be known as an action of supervising and monitoring thepromotion of a certain brand of product. In the marketing, brand management is the evaluationand planning on how the brand is supposed to be in the market. Brand management involves twoaspects on which first is tangible which includes product packaging, price and goods itself, etc.While, on the other side, intangible elements include experience that a person will have after hadthe brand. Brand management is important for maintaining a positive and strong image amongcompetitors and also, to provide support in order to build healthy relations. It is characterized asthe process of spreading knowingness among buyers in order to maintaineffectualdealings canbe framed (Ashworth, 2010). Therefore, assignment is totally rely on Microsoft Corporation thatis a international technology firm and their headquartering is in Redmond, Washington. The firmis dealing in manufacturing, developing, licensing and selling computer software, personalcomputer and many more services. This report will cover various points like importance ofbranding through focusing on marketing techniques and their impact on business operations.There are some components are evaluating for making sound business strategies by the helps ofportfolio, hierarchy of brand and equity management. It will analyse the partnership andcollaboration at global and domestic level. There will be discussion on some tools for measuringand arranging the value of trade name as well.SECTION 1P1. Significance of branding as a marketing techniques and the technique of emerging inbusiness practiceMaking brand image in the minds of person along with also in marketplace is prominentstep for business entityin current competitive era. Each and every venture or start up needs tobuild a positive image in the market as well as for buyers so that they are able to grab attention ofmarket and generate profit and revenue in order to survive in the competitive business market.For all these elements, company needs to conduct market research so that they can be able toproduce goods and services in accordance with the present market trends, wishes, demands andalso, satisfy buyers. It also provides help to customers to find the products and services withregard to their demand, needs and wants that fulfill them. It is important for all type of enterpriseto frame a optimisticpicture of their product along trade name through offering the best and1

sound superiormerchandise so that buyers will turnallegiant for them and their trade name,satisfy client can be work as the promotional tools for the firm cause they are able to makepublicity by their mouth for a particular product and whole brand (Kavaratzis, 2010). There arenumerous of benefits of brand direction from which one of them are able to make differencebetween goods present in the market place and their fresh products.Brand: It is determined as the stimulation of functional and emotional enterprises andthese all are various types of goods. Brand mainly focused on what buyer buys at the time ofproduct selection as what types of firm is made out. It can be a promise to the customer thatdefine the product and it performance in the best manner in order to match with expectation ofcustomers. Brand as a marketing tool: Brand is always rolling as the marketing tool for a company.There are various firm at marketplace who have the significant for techniques of merchandisingand they are concertinaing on making impressive and sound brand goodwill in the minds ofcustomised. Firm will hire larger numbers of professional in order to arranging and developingthat value of brand in the demanded market such as Yehel Demeter of Demetrend, they arespecialistic in making effectual and sufficient brands among competitor. They perform for it likeas- Set up credibility for the trade good: All these occupational groupbroadly concentratedon maintaining and establishing the services and merchandiseincredibility for firm. They aretrying to frame effectualscheme for development their picture of brand and its worth atmarketplace in sufficient mode. Key in to client psychology and link them emotionally:Another essential step thatneeds to perform by the all professionals such as it needs to be required to make connectionswith persons along with firm's product or services and tries to creates emotional attachments inregards of firm so that the sound relations can be framed and with the help of it gain highercompetitive advantages. Create loyal customers base: Each and every firm tries to creates their level of buyersare loyal towards their goods and services through opting sound and top-qualityscheme as theyare concentrated on framing impressive goodwill as well as build image at market place byproviding efficient users satisfactions in respect to the needs and demands. Customers are theessential elements and key component in order to achieve success in business. So, it is important2

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