This essay analyzes brand management strategies employed by Apple and Samsung, focusing on the CBBE model, brand equity, and portfolio management. It explores the role of marketing in developing brand equity and the importance of collaboration and brand extension in achieving long-term success.
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BRAND MANAGEMENT
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INTRODUCTION Brand management plays a significant role in an organisation. In the market place, it is an assistance how brand is analysed and how it is planned in effective way. It is an activity of supervision of the publicity of a peculiar brand of goods. It is a process of uprising, maintaining and uploading a brand so that the name is connected with positive outcomes. There are number of elements that affect brand management like consumer satisfaction, cost and competition. It is mostly based on two brands i.e. Apple and Samsung. This management is fundamentally placed in United Kingdom and furnish contrastive type of services in mobile phones and laptops as well as various other gadgets. This assessment is focussed on the antithetic result. In this assessment, it is also identified that how brand is build and how it is managed over time. Brand's portfolio strategy and CBBE model are also used for building and maintaining the brand of the organization. SECTION 1 P1. Significance of branding as a marketing instrument Brand- A brand is a name, design and signal or any other feature that is different from other goods of company. It is a kind of good produced by a company under a name. A brand is the name given to goods and services such that it takes on an identification by itself which stands for clustering and attracts attention of customers. In this assessment there are two most important brands in Apple and Samsung. Brand is develop by the better productivity of business in the market and hike in the consumers in the market place. A powerful image of brands plays significance role for the business. As per the present market conditions, each and every product in a market has a lot of substitutes introduced by other companies. These company make over highly competition in the business and create a strategies for enhancing the market share. Several selling organization account brand as a name, sign or design and the collection of those factors highly-developed for identification of the trade good or services of a group and seller also distinguish them from company’s trade goods and services (Chernev, 2018). Brand Equity- Brand equity means the commercialized worth from the consumer perceptual experience of the brand name of a specific commodity and services, instead of the products and services from itself. It is value generated from products and services with identifiable name. Brand hierarchy plays a significance role in branding as it is presentation of graphs of the strategies of branding of the organization. 1
Use of CBBE model to develop the stages of brand equity: It is one of the models created by Kevin Lane Keller who is a professor in marketing who states that it the model based on consumer brand equity. Keller set the model is four level pyramid. ï‚·Who are you is known by Brand. ï‚·What are you is known as Brand. ï‚·What are the notions of brand is known as Response of Brand (Theurer and et.al, 2018). ï‚·Bonded relationship with consumer is the resonance of Brand. Efficient Showcase theory- This theory or style refers to business which necessitates examining the actual market structure that assists in promoting company's develop a smooth business style and strategies. Indexing-This method take a element of interest for making innovative administration and promotional structures. Progressive portfolio Management- With respect to this form, the business present fresh undertaking mixture by which they acquire supreme return benefits. In this process financial professional are evaluating high rate of return. Bottom Up Approach-The bottom up approaches refers to that business concern should direct on their evolution of finance and economic factors. The management of the company analysis the status internal their commercial enterprise and direct the executing of the activities of the 2 Illustration1: Keller's Brand Equity Model (Source Keller's Brand Equity Model)
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company. The goals and objectives of the company should be ableto achieve by internal conditions of the company. Top Down Approach- This approach helps in determining and identifying the new opportunities by developing methods and strategies and techniques of the company. This approach assist in creating a brand image and draw in maximum several new customers (Laari,Töyli and Ojala, 2017). Role of Marketing in developing Brand Equity. Objectives- In today's era every company understand the essentialness of the making a advance setup, the various experts and regimes who are spent important time in buildingthe brands. The build as loyal consumer base. Brand objective is not achieve by making it one-time but the objective of brand name is only be maintained if customer are not disliking the products and the market share is not decreases. It is very important to maintain the name and image of the brand. To achieve the brand objectives, regular alterations is also needed as per the requirements and demands of the clients (Lasserre, 2017). There are mainly eight factors of brands- Name Colour Message Voice Logo Labelling and packaging Experience of Brand. Valuation of Brand-target market area, R&D are the important steps for acquiring analytic understanding of different clients and consumers and their wants and requirements of particular goods and services. All the companies tries their best for satisfying their customers by making the products as per their requirements. For building a strong brand image in the market, it is very essential to identify the product and services of competitors. Promotional techniques should also be distinctive in building the brand. Key factors of powerful brand Their areseveral key factors for building strong brand to be utilized to enhance the overall execution and maturation rate in the market. There are some most crucial portion for each and every brand to gain the market share. The main elements of building powerful brand ie 3
Brand worth, brand voice, brand commitment, mark audience and brand perception All such factors plays a vital role in improvement an growth and development of powerful brand (Li and et.al, 2017). M1 & M2. How to manage success over long time. Brand management is the most significant role in market share. A powerful trade name is manged by the means of the commerce name pull off. In this assessment the main focus is on betterment in market development and make some alteration in growth rate according tothe need of consumer. Brand administration is a intangible elements in the market. To develop the brand mage it is also essential to develop the attractive logos and symbols which memorized in the mind of the consumer. Apple and Samsung both the companies are improving their operation by making some alteration as per the needs of the consumers. They are innovating more and more technologies in the market. Illustration2: Brand Hierarchy (Source Brand Hierarchy) 4
P2. Important elements of a successful brand strategy. A brand can be powerful or weak it can be seen by its icon method. A powerful brand introduce a optimistic and imperative image in the market. A strong brand derive that the brand has an amazing image in the business and in the market place (Borkovsky, and et.al, 2017). There are many companies which have strong brand image in the world such as Apple, Samsung. Weak brands are opposite of strong brand as they can not able to maintain the brand image in the market and lack in quality of the products and services and lack in innovation (King, 2017). Every company wants that they should fulfil all the needs and wants of customers. But a strong brand company thinks before, they work in advance and also thinks in advance. For building efficient brand image in the market, company has to work and think in advance and various excellent objectives to achieve the brand mane in the market place. Branded companies make distinctive system for their operations, these strategy helps ins achieving the target in the market. Apple is world famous brand leading in the world. The strategies and methods of functions of operations is wholly different and attractive by which Apple is leading in the world. The promotional techniques of Apple is also very effective. 5 Illustration3: CBBE Model on Apple (Source CBBE Model)
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Salience-The company wants to outspread consciousness among the customers for their brand which aid in knowing the products and services offered by them. The image of the brand is only develop when customers know about it. It is very important for company to promote the goods and services in the market place so that it can be recognized in the market. Promotional techniques are the one of the important tool in building the brand image. As for building the brand image all the company focus on scattering the awareness of the products they are launching in the market. Apple Company use effective and attractive tools to spread its products and services among its customers. Performance-The performance of Apple in building its brand and maintaining its brand image is adorable. The value of the brand of Apple is in all over the world. The innovations and advance technologies of Apple company leads to recognized in the world. The work and performance of apple in technological sector is un -beatable (Atwaland Williams, 2017). The gadget are highly upgraded. Apple has build up the brand that the mind of the customers is set up a optimistic image for the products and services of the company. The performance of Apple in maintaining its brand image is in both way, i.e. in terms of income and the commendation accepted world wide. Customer Feelings- Customer's are the god for any type of business, they are the key elements in getting success. So it is very important for the company to know the feelings of its customer. Customers only wants what they are paying for should get maximum return. Apple company has made some strategies to discuss and eliminate the issues of the customers. When quality is connected with brandthan customers need is to have high grade. Apple announces various products which have extra ordinary and outstanding quality compare to other brands. Resonance-Apple is a brands which is globally popular. The type of technologies used by Apple is ultra modern and very advanced. The primary elements of formulating system is to give assurance to the users that the brands is being secure by duplication and purloined. Copyrights, patents, licenses, trademark and protection of innovation are the brand protection tools. Strategies for Brand Reinforcement and Revitalisation. Brand operation is the device which desire company to support up the image in the market. This performing aid in pulling in more than new customer and advantages salary. 6
Outspread fresh changes- Due to advanced controversy in the market place. Organization support up to fantastic condition of controversy. To victory on these effect, organization needs to scatter fresh occurrence in the marketplace like apple perpetually expose fresh course of study of action of I-phones and attracting more and more customers (Dineva,Breitsohl and Garrod, 2017). Progression- Improvement and development and growth are the key elements of every organization to get win on others. The improvement factor through which organization get a new arrangement of regular payment is headway which makes situation more complex. Market segmentation- marketing plays a effective role in spreading the business in the world. There are various techniques and tools in marketing. Like apple company make watcges after making iPhones.For taking the position in the market it is very essential to come up with new plans. 360 Degree Connection- As per the present model of apple the advertisement techniques is playing crucial role in expanding the business.The brand image is only be maintain if company do 360 degree communication in the world. By which it can be the amazing or alluring brand picture. M3. Portfolio management and brand hierarchy. Portfoliomanagementassistinthedevelopmentoffutureandmaintainedthe performance of the company in the market. Enhance in the whole evolution and make some alteration in net income r and improve internal operational environment.On the other side, to improve internal and external operational environment Brand hierarchy. SECTION 2 P3. Schemes for Management of Portfolio, brand equity and Brand Hierarchy management. Management of portfolio is the style by which company formulate efficient and corporate ideas and programs inway to prolong in the marketplace with bang-up brand icon. There are various schemes which could be enforced by the companyin respect tothe management of portfolio by which company gains the adverse advantages. In order to maintained bonded relationship it is very important to conduct various roles and responsibilities in the organization. In the company it is very essential to have portfolio manager which assist who plans the various activities in developing the business. More over it also aids in making strategies which attracts many customers towards the brand. Apple has different type of product chain which enhance the 7
profit of the organization. Furthermore, Apple company have producing different kinds of products and services by making use of various technologies and techniques which helps in building the brand image. In maintaining numerous kinds of products, it is duty of portfolio manager to ensure the cost of investment as it should not over and above the profit margin as becausewhencompanyisdealinginmanyproductsandservicesitneedhugefunds. Maintenance of different products and services is also not so easy, company has to work in different styles for different products. What is brand Equity or Hierarchy? Collaboration of two branded house portfolio model. Samsung-Samsung is a brand with Consumer electronics, Semiconductor device and Home gadgets. There are number of consumers for wellness inside the market. Whatever the suit is, the brand acknowledgement, Samsung is a worldwide brand and operating the field of electronic gadgets. Samsung is the most well-known brand in the world. Samsung has covered the greatest market share. The clients are satisfied with the products and services of Samsung. 8 Illustration4: Apple's Ecosystem (Source Apple's Ecosystem)
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LEDScreens-SamsungandApplehaveseemtobelong-timeviolentchallengerand competitorsin the smartphone market but after some time Apple tie up with Samsung. The collaborationis about preparing LED screens for Apple gadgets like I phones and Tablets etc. Apple is greatly benefited by the collaboration with Samsung as it cost less. The LED screens are cheap and well in quality. Samsung is gaining approx $4 billion in income from LED supplied to Apple for I phone X. Both are rivals for each other but when collaboration is done they became friends. Apple has taken this because the cost of LED is not so high which is giving optimistic results to Apple and same the benefit is gaining to Samsung. LED is very important for the smart phones, tablets (Keller, 2017). Various inventions by Apple are as follows- Emagic- It is the some other prodigious and attention-getting programming hold by the Apple company. Apple secured $30 million of benefit in the year 2001. Apple is known for its music star. The principal thought dynamic Macintosh to hold this units to give fresh schemes and programming to create mechanised sound digital computer programming. Prime Sense- It is a well known and viable diversion system, 3D sensor is acquired by Apple . Siri- Siri is one of the sterling creation. It is the software which assist consumers to send instant messages. Siri is the best software for Apple. Shazam- It is the most eminent and unmistakable music perceiving application which is barred by Apple. It is the best part of apple which helps in brand popularity. Electronic Beats- It another company adopted by Apple. Around $3 billion is clench by Apple to Beat electronics. It is most impressive strategies of Apple. M3. Difference techniques used in extension. In the above assessment,the main focus is on various techniques should be used in overall operating environment and make some alteration according to the growth and development stage. In general extension approaches is most beneficial to make alterationin the product and services which attract many consumer and also beast the competitors rivalry in the market place. P4. Relationship and collaboration among brands at national as well as International level. There are many another companies make effectual relationship and cooperation at domestic or worldwide level. To achieve theirgoals and objectives of business they go for partnership and collaboration. The relationship between two famous brands, Samsung and Apple 9
is the best instances of collaboration at worldwide level. Their partnership decision benefited both the company. Brand loyalty-The brand faithfulness is consideration of user affectionately with relation to a particular brand in relation to other challenger. Theprice, continual purchase and quality is the basis of its comparison. For accomplishing the brand faithfulness and addition to their faith it is important for the company to offer advanced quality of products and services to the consumers with full gratification, monetary value affectivity and strength so that the citizen do not change their preference and tasteor prime selection. The persons stay attached to a brand that furnish attractive and effective products and services to its users. The statement for achievement of Unified attempts or Collaboration. The group action between Samsung and Apple is fabulous and incredible achievements. There are many other companies who go for partnership and collaboration for achieving the target. There are so many reasons for going for cooperation between two companies or brands. ï‚·Cooperation helps in enhancing the brand icon in order to raise the clients. ï‚·Cooperation helps in expanding the business more and more as by joining two brands customers feel more satisfied. ï‚·Collaboration promote a trade name name to aid up or re-stimulate a particular brand as they got a help of some other brand icon which was preferred by consumer and has a affirmative brand icon. ï‚·The brand group of action promote the company to spectacularlyand with success growth. The combined efforts are highly profitable for both the brands. It helps in making a powerful promotion and development for the brands. ï‚·By Collaboration companies captured more knowledge is taken on account. ï‚·Collaboration helps in reducing the risk as the risk factor is divided in between two brands (Lasserre, 2017). ï‚·Collaboration helps in boosting the productivity as when two brands merged it will surely increase the productivity level. ï‚·Collaboration helps in perfect distribution of data as important data who need this. When there is collaboration occur in between the companies, the whole of the work is managed and divided as they are operate together. The profit share is also increases and it also reduces 10
many risk. The customer is also more attracted when collaboration occur as their believe on the brand is upgraded, Line Extension and Brand Extension. Line extensionmeans the adding of alteration in the existing services andproducts of the brand. When company launch same product with different size, form and taste etc. than line extension occurs. Apple's line extension means to the launch of I-phone X which is similar in size and technology. Apple regularly fall in the line extension as every year Apple launch new I phones. Samsung also accommodate to line extension by launching new smart phones. Samsung alos improve its existing products as per the needs and requirement of the customers like Upgrading the software (Kapferer and et.al, 2017.). Brand Extensionstates that the introduction of a fresh product competitively within a new commodity concept. This product is a absolute advance creation by company. This is strategy for entering into new market. Apple enforced extension in the brand by combining and collaborating with Samsung and introducing innovative products together. There are working successfully and achieving the targets in incredible way. Apple and Samsung is working together as now Samsung is furnishing more parts to Apple. M4. Techniques to measure the value of brand. There are many techniques which is used in valuation of brand and make some changes on the as per the needs and requirements of the clients. Website traffic is most useful techniques for both the company. The profit is also increase by effective and efficient techniques used for increasing the profitability. P5. Different kinds of techniques for measuring and managing brand value. In the marketproduct that refers to the brand value has in the market. It is considering as one of the most essential and advantageous part for an administration., which helps to achieve various parts of the section, and hence, growth and succeed are achieved,the different types of the offering made by the firm, and its quality are of extreme or crucial importance in order to attain a good value of the brand in the market. The customers mind product should be in a good nature have always positive impact in their minds, to order the inthe market the attractive and effective image are considered. It insure competitive advantage for the firm in the market as well as client quality. Further,helping in development of the organisation, a good brand value ensures verify 11
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concluded. More over, Keller Model and CBBE model is also taken for analyzing the brand image. Critical evaluation is also done to demonstrating a comprehensive understanding of brand. Furthermore portfolio management is also concluded in the above report. Brand equity and brand hierarchy is also understood in this assessment. Apple and Samsung Collaboration is also concluded. 13
Laari, S., Töyli, J. and Ojala, L., 2017. Supply chain perspective on competitive strategies and green supply chain management strategies.Journal of Cleaner Production,.141, pp.1303-1315. Lasserre, P., 2017.Global strategic management. Macmillan International Higher Education. 14
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