Brand Management Assignment - HP
Added on 2020-12-29
17 Pages6091 Words58 Views
Brand Management
Table of ContentsTASK 1............................................................................................................................................3Building and managing brand overtime.................................................................................4TASK 2 ...........................................................................................................................................82. Illustration of the hierarchy management of brands within HP company's portfolio .......93. Analysis of strategies for managing equity of brands......................................................10TASK 3..........................................................................................................................................11Strengths of the brand that can get leverage.........................................................................12Weaknesses of the brand that can be leveraged...................................................................12Collaboration and partnership agreements...........................................................................12TASK 4..........................................................................................................................................13Evaluation of different types of techniques for measuring and managing brand value.......13CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17
INTRODUCTIONBrand management is an art for creating sustainability of a brand in the marketplace. Inaddition to this, it is used for making trust of customers. In the context of marketing brandmanagement is an activity which is performed by the manufacturer in order to increasing thevalue of goods and services. An effective brand management helps the managers of a firm inincreasing loyalty of customers towards the goods and services. The chosen organisation for thisassignment is Optimum impression Ltd. which provides marketing consultancy to the firms. Themanager of firm wants to prepare an article which title is 'Brand is power'. With the help of itthey want to show how a brand is created and organised in the portfolios of firms. This reportwill also cover the leverage time of brands in domestic and international level along with thetechniques for managing the brand value of a product. TASK 1
Building and managing brand overtimeBRAND IS POWERIntroductionBrand is an experience of the customers which builds a difference between theproducts of an organisation and its rivals therefore the company can easily have marketed theirproducts. Brand equity is defined as a determination of the firm about the perception ofcustomers towards offerings(Keller’s Brand Equity Model, 2018). For building a strong brandname organisations have to follow some steps which are given as under:First step – In this, the managers of firm have to determine the needs and demands ofcustomers. Second step - Under this step of enhancing the brand image, they have to make a mission forspreading the awareness about the products in the mind of customers. Third step - Then they have to determine the strategies of their rivals so that, they will able inmaking different products from their rivals. After this analysis, they have to determine the uniqueness, value and features of their goods andservices. In next step, the firm have to decide the guidelines of the brand which will help themin making strategies for their products. In the last step they have to market their brand. Role of Marketing Department:Marketing department plays a crucial role in the formulation of brand equity. Theyhave to analyse the needs and demands of customers in the marketplace through which theyeasily formulate the brand of their product. They have an important obligation to collect thefeedbacks of their customers through which firms will get the opportunities for strengtheningbrand equity.Main bodyOptimum Impressions Ltd. Is a firm which deals in providing marketing consultancyto the big brands. This company have to provide knowledge for marketing campaigns to thefirm due to which they can create a good brand image in the marketplace. This article is basedon the Dell which provides services in electronics sector and a multinational brand with theheadquarters in Texas, U.SIn the present scenario, there is a tough competition in the electronic segment therefore it isvery tough for the firm to make effective plans and strategies for strengthening their brand
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