(PDF) Brand Management | Assignment
Added on 2020-12-30
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Brand Management
Table of ContentsIntroduction......................................................................................................................................1TASK 1............................................................................................................................................1TASK 2............................................................................................................................................7Brand portfolio and hierarchy Management...............................................................................7TASK 3..........................................................................................................................................11Domestic and international partnership of the company...........................................................13Disadvantages of the collaboration and partnership:................................................................14TASK 4..........................................................................................................................................14Measuring and managing brand value......................................................................................14Conclusion.....................................................................................................................................16References......................................................................................................................................18
IntroductionBrand management comes through the word brand which means developing a promise inthe eyes of its customers. It means defining the position of the brand and developing its markethold over its competitors. In sense of marketing brand management means using varioustechniques so as to increase the perceived value of a product or service. Effective brandmanagement builds loyal customers through positive brand association and has a positive effecton the product portfolio. This report is based on Optimum Impression Ltd. Which is aadvertising organisation and wants to compose an article in companies marketing brochure withthe headline “Brand is Power”. It also shows how a brand is built and how a brand are organisedin portfolios. Also how brand are leveraged and various techniques for measuring and managingbrand value over time is analysed.TASK 1“Brand is Power”IntroductionOptimum Impression Ltd. Is an advertising agency which is having its functions toadvertise the brands of different companies. The company is into this line of advertising theproduct portfolio for many years. The companies marketing and advertising strategies includesdifferent prospects through which they make the brand of a particular company approachable tothe customers. Since Huawei has reached the company to advertise its brand in the westernmarket various approaches and the ways through which the brand can be advertised arediscussed below.Brand is an identity symbol, mark, logo, name or a tag line of companies which is usedto distinguish their product from others. It can be defined as company promise to provideconsistently unique set of advantages, characteristic and service to its consumers. Brand equityis a value and strength of a brand that is used to decide its quality. In other words, it can be saidthat brand equity refers to an economic value that a company generates from a product with arecognizable name when compared to general recognition. Company can create brand equity oftheir products by making them memorable and easy to recognise and superior in quality fromtheir competitors (Annie Jin, 2012). Brand building is a most significant process which helps inmaking of overall business strategy. This would help the brand to outshine and stand apart from1
the competition and to play a crucial role creating loyal customers so that objective of highersales and profits are achieved. Various steps are included in building a brand which includes:Defining the target audience: For a brand it is important to figure out and define thetarget audience. A brand should determine the nature of offerings which should be according tothe taste and preference of their target customers. They should identify the problems faced bythe target audience so that the offering could be made as per the requirements. Work on brand mission: Companies managers, promoters and other internal membersshould work together and make a mission statement defining the objective to create a brandposition. They should define that where they want to see the brand reach from the currentposition. The company should embrace all the departments and use different promotional toolsand tactics so that they can make customers aware about their portfolio.Conduct market research and study: This is one of the main steps that is included increating a brand image. This steps includes a market research that is to be done so as to build aperfect brand for their competitors. This step helps in making a differentiation factor among itsrivals and it will further help in convincing the customers on how the brand is better than othersin the market and what value it will provide through its products and services offered to them.Outline the qualities and formulate the brand voice: As the above study iscompleted, the managers should outline the qualities and the benefits that the brand offers to thecustomers as compared to the competitors by gaining competitive advantages. Also the brandvoice through professional, informal, technical promotion should be raised for achieving thegoals in Optimum impression Ltd.2
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