Brand Equity Strategy Analysis

The provided assignment is an analysis of brand equity strategies, which involves reviewing relevant research and studies on the topic. The assignment includes a list of references to academic papers and books related to brand equity, as well as online resources. It also provides a summary of key concepts in brand equity, including brand management systems, corporate social responsibility, and consumer engagement. The assignment aims to provide an understanding of how brands can develop and maintain their equity through various strategies.

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................1
SECTION 1......................................................................................................................................1
P1. Importance of branding as a marketing tool.........................................................................1
P2 Key components of successful brand strategies and managing brand equity........................3
Task 2...............................................................................................................................................6
P3 Different strategies of portfolio management brand equity and hierarchy management.......6
Task 3...............................................................................................................................................8
P4 Brands are managed collaboratively and in partnership........................................................8
Task 4.............................................................................................................................................10
P5 Different types of techniques for measuring and managing brand values...........................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Brand management is defined as a planning which determines how it will be perceived in
the market. It is essential for developing a strong relationship with target market through brand
management. There are two elements i.e. tangible and intangible. Tangible includes product,
looking, pricing and packaging etc. and intangible elements are the experience of customer
regarding a particular brand. In other words, it is the process of building a positive relationship
and creating better connection in between company's product and consumer perception for the
purpose of generating revenues or profits (Ashworth, 2010). This project report is based on
Mercedes Benz which international company and a division of the Germany company Daimler
AG. This brand deals in luxury vehicles, cars, buses, coaches and Lorries. In this report, there
will be discussion on the importance of branding for effective marketing and some key
components for making successful strategies for the firm. This will also analyse various
strategies as portfolio, hierarchy and equity management. It will define the collaboration of
partnership for both domestic and global level. There are some techniques to measure and
manage the value of brand and its image in an effective manner.
SECTION 1
P1. Importance of branding as a marketing tool
Every successful organisation is based on their market image as well as brand name
which is essential for them to represent the products and services in front of customers. In such
procedure company try to create a good brand image among competitors. Organisation adopts
various strategies, tools and techniques for creating effective goodwill in the market and among
potential customers mind so that better relations can be build. Brands can be included as logo,
symbols, signs, product’s name, designs and packaging, etc. So, these aspects help in
differentiating company's products and services from other competitors. It is makes easy to
customers for understanding the organisational brand through the design and logo.
Brand:- brand generally considered with accumulations regarding emotional and functional
associations and it is totally different from products. Brand is defined as what customers buy and
product concern with what companies make. It can be said that brands make promises regarding
products as how it will satisfy customers needs and wants in effective manner.
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Brand Equity:
It is defines as the consumer perception regarding particular goods and services as what
they think about the all these. Every firms wants to know that customers attitudes and their
behavioural choice about the brand. Brand management is an effective tool that supports in
increasing the value of company and generating demand among customers. It provides directions
to the employees and motivate them to reach at potential consumers. Every organisation wants to
know customer's perception regarding their products and services as well as represent the
reputations, advertising and logo (Kavaratzis, 2010). Some of companies generally may have to
face several kinds of problems or issues regarding the poor customers satisfaction or slow
services, so it is must be required to promote particular brand by using best strategies in the
market for achieving competitive advantages. There are some importance of branding that help
to organisation in attaining its particular goals and objectives such as:
Brand as a marketing tool:-
Trust can be created: Brand is an effective element that supports in creating trust or faith
among customers as they can buy any product or services of company through their brand value
and create a good relations with them by building trust. People can purchase the best quality of
services and products to satisfy their needs and wants is firm is providing them same things
according to demand so it will helps in building trust as well as relations for the organisation.
Mercedes Benz provides luxury cars with unique features to the people and attract them towards
the best model of car and they always focus on satisfying customers. Therefore, brand helps
them to make better connection with people and support to reach at target audience so that they
can generate higher profits and get more returns as well as market share.
Useful for effective advertising: Advertisements play a vital role in promoting a specific
brand in the market so that every organisation will use effective advertising tools and techniques
to promote their products and services as well as create market awareness among consumers.
Firms generally represent their products and services as well as convey messages to the target
audience through effective advertisements (Bigné, 2012). It is beneficial for getting attention so
that Mercedes Benz will use creative advertising tools such as commercial ads, hoardings and
internet for promoting cars and buses. They provide information to the people regarding specific
features, unique qualities as well as by using advertisements so that they can make decisions
regarding buying its products and services.
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Provide inspirations to employees: Branding is essential for providing inspiration to the
employees for contributing more to achieve organisation's success as well as goals or objectives.
Brand supports in motivating them for getting long term success so that they will understand
company's mission, vision, goals and objectives as well as work hard to attain all these in an
effective manner. Branding helps in increasing the demand regarding luxury cars so that
employees play important role in satisfying their demand and needs in appropriate manner. It is
beneficial for both; organisation and employees that helps in increasing the value and creating a
strong brand image. Workers will feel motivated while doing job in reputed organisation.
Helps in generating consumers: This is the major objective of any firm to create more
demand among customers by effective brand image. Organisation generally uses various
promotional tools for increasing the demand as it helps in providing information and creating
awareness among customers (Currás, 2012). From using effective branding tool, company
launches or introduces its featured and unique products or services. They convey message to
potential customers and try to attract them towards organisation so that they will make their
buying decisions regarding Mercedes Benz. In this process, customers share their experience and
satisfaction level after purchasing so that number of clients can be attracted.
Helps in improving recognitions: Brands includes various elements such as symbols,
signs, logo and any other designs that can be useful for differentiate one company product to
another one. So it is effective for the customers as they can easily recognise a company's product
or services from competitors. It is an asset for every firm and it must be required to have a simple
but attractive logo of the company. Mercedes company have unique logo that customers can
easily recognise this brand after see this and this is a professional logo which provide effective
impression and helps in achieving organisational goals and objectives.
Emerging in business practices:-
brand-management is very supportive in developing the business practices because it
manage the brand at global level through proper balancing act between national as well as
international level with specific goals and strategic visions. It is a marketing tool which helps in
creating good image among competitors.
Adaptive and flexible: it is must be required to be flexible for accepting several kinds of
challenges within an organisation like freedom in adopting leverage local growth opportunities
such as brand extensions, variants and products diversification etc.
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Leverage technology: there are several organisations who adopted the advance
technologies by ensuring about advantages as well as scalability in maintaining the brand equity
of the company.
Difference between product and brand:-
Brand Product
It generally builds consumer's perception,
experience and their expectation regarding
particular products and services.
Company produces Product and sell it to the
target audience in exchange for money.
Brands associated with legal authority so that
no one can copy of brand. It is the value that
based on customers perception, expectation and
emotions with previous experience with them.
Products can be copied by any one like
competitors such as using same product,
substitute and its complementary.
Brand can be a timeless. Product become a obsolete in an appropriate
manner.
P2 Key components of successful brand strategies and managing brand equity
Brand equity is consider as the customers perception as well as their experience regarding
any particular company's product. It is an essential element that support in increasing
organisational revenues and generate higher profits for the achieving success. There are various
companies in the market who has effective or strong brand image and they are giving tough
competition (Brodie, 2013). The main objective of any firm is to create good brand image into
customers mind so they adopt various strategies and use promotional tools for promoting brand
values in the market. So it is an essential that have a reputations or goodwill among competitors
as it can be said that it is a qualitative measurement.
Strong Brand: It is very important to identify strong image within the organisation for the
purpose of development because it is necessary factor for every business. It support in building
reputations so that organisation can compete with competitors. For example BMW
Weak brand: It generally occurs when brand image getting down in the marketing sue to lack of
awareness and low consumers loyalty regarding particular products and services. For example
Motorla.
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It consider various aspects such as brand loyalty, awareness, associations as well as
product's quality that helps in providing higher satisfaction level to the customers. Here some
major aspects which support in making effective brand strategy such as:
Brand strategies
Public relations: Every successful organisation, it is must be required to create better
awareness and good brand image in the market. They create their goals, objectives and visions
for maintaining the brand and also manage the employees performance with clearly defines the
particular goals and objectives so that they will work on it to achieve higher revenues. They set
their target market as well as audience for building public relations, so it is important to find
potential customers or target consumers for providing them effective goods and services and
satisfy their needs and wants. Mercedes Benz also identify customers desired expectations and
their needs or wants and try to make the innovative, creative and unique featured cars so that
customers feel satisfaction and they will be loyal towards this organisation.
Digital marketing: This is very effective and useful tool that support in increasing more
brand values and generate demand in the market. Many of organisation take support from digital
market because it is a way to reach at target audience and it evaluate the bran strategies as well
as better public relations for Mercedes Benz. This firm can adopt new technology and effective
parts of cars to make better an d featured products (Buil, 2013). They can use this process to
attract more individuals or young generations who has desires to purchase this luxury car so that
they can spread information to the customers. It is effective mode that helps in capturing the
market and get more attentions from consumers because it generally create the products
informations. This also support in earning higher revenues as well as profitability for the firm.
Company choose several methods such as networking, Online dealing, digital marketing or
advertising and many more for provide information.
Social media: this is the effective and beneficial method for promoting a particular brand
which is social media optimisations as it helps in creating brand values or goodwill among
customers mind. In this present scenario, many of companies use social media for spreading
information among customers because mostly people are accessing the social sites so it helps in
getting attentions of users and attract them for visiting company's website. Mercedes also
consider social sites for promoting their products and launching new car so they give a small ads
in every sites so that people can easily access the websites for getting more information. So it is
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important tool for creating huge awareness among customers and achieve competitive
advantages in the market. They generally maintain or manage their account as well as web page
by updating informations, data, customers feedbacks and their reviews related to new products.
Elements to build strong brand image.
Factors for building brand equity:
Strategy: Every firm make their business strategies for attaining their predetermined
goals and objectives which are required. They focus on developing or adopting best market
strategies by effective planning for the purpose of competing with competitors. All organisations
try to sell best or qualitative products and services but it can create conflicts because of lack of
market awareness (Chernatony, 2013). So it is compulsory to use effective promotional tools for
selling the products and create effective brand image among competitors. Strategies and
approaches play vital roles in generating higher revenues and also make a good relations among
customers.
Awareness: It consider the effective tools and techniques for promoting the particular
products and services that helps in generating demand through market awareness. Mercedes
Benz generally consider this thing and make strategies for adopting new technologies and use
best marking tool to create good brand image because it is must to have a strong goodwill in the
market. Companies generally offers several benefits, schemes to the customers. If they are not
aware then people do not take advantages, so Mercedes focus on attracting high class customers
and create market awareness by using internet, commercial advertisement and provide
information regarding products and services.
Communication: It is an another important branding strategy that helps in building a
strong image as well as good reputations in the market so that organisation can achieve its
predetermined goals and objectives. In this consider effective communications strategies for
providing information for building market place, better interaction with customers, get
information regarding their demands and needs as well as about market. Communications
process generally use for analyse the market demand and customer's desired expectation
regarding products and brand (Christiaans, 2012). With the help of this process, employees or
marketer are able to provide information about the Mercedes new products and services in the
market. Organisation communicate information regarding their new featured and valued car to
the targeted audience.
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Legal and ethical decision making: Government play important role in making various
rules and regulations for the country towards their national economy. In this, government has the
responsibility to make better decisions regarding the business so that more revenues can be
generate through increasing sales volume. Parliament of the country perform their role for core
actions as well as functions of legislatives. They have authorised for approving and rejecting
drafts of laws.
Task 2
P3 Different strategies of portfolio management brand equity and hierarchy management
For the promotions of company's brand, it is must be required to adopt best strategies for
managing or maintaining the brand in the competitive advantages. Many of firm focus on
adoptions of various strategies to promote their products and services. Mercedes Benz, which is
global automobile industry and deals in selling various luxury vehicles, buses and coaches in the
market. This company has good brand image or reputations in the market as they focus on
developing or manufacturing luxury car, SUV that target young generations and high class
people for the particular products. They believes in selling best quality and featured car to the
customers so they charge high prices for this (Dempsey, 2012). Mercedes adopted effective
branding strategies for promoting their products. Their competitors are Ferrari, Bugatti,
Lamborghini and BMW in the market. They are adopting best techniques for competing with all
these so that they can achieve competitive advantages. Company has to maintain their brand
because its management is more important for connecting as well as managing the long term
relations with customers. By using this technology, they can build good brand reputations at the
marketplace. There are some components for strategies that Mercedes can use effectively for
their brand management. These are given below:-
Portfolio management:- This is the most important and effective strategy which is used by
many of firms. It helps the organisation in operating multiple brands, services and other specific
companies. Portfolio management is very supportive in keeping all enterprises under the
umbrella. In this types of strategy, it includes every trademark and any other legal authority that
make the company's brand unique as well as different from another competitors. Management of
portfolio support in getting higher returns of the company in easy way (Gruver, 2012). Mercedes
Benz also consider this for managing their brand in the market as it focus on selling the featured
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and luxuries car with effective mileage and provide comfortable to the customers. It is helpful in
dealing with international market. Some importance of this strategy such as: Well defines brand roles: In this, it described that brand roles must be defined in well
manner that support in making one brand different from another. So every organisations
have to ensure about well defined roles that must be play in each or every product in the
competitive market. For the successful organisation, it is must be required to manage
their brand because it is an asset for the company. Understand the sub-brands: For the successful firm, it is very necessary for making a
distances to sub-brands and maintain their company's reputations in the target market. It
is important to understand about the role of sub-brands for competing with rivalry
products at the marketplace (Esch, 2014). It helps in identifying the company's strengths,
weaknesses, opportunities and threats in the selections of growth.
 Connect with business strategy: In this defined that, it is necessary to connect with
business strategies for achieving future goals and objectives easily. Mercedes Benz
company can identify effective strategies for better introducing the new products and
services in the market.
Brand equity strategy:- In this strategy, many of forces are there that directly affects on the
company's products and brand. It can be understand by using Keller's Brand Equity Model. In
this concept, it described that how can build a strong brand with customers through providing
better goods and services as well as their perception towards products. It can be categorized into
four factors which helps in explaining different things.
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Illustration 1: brand equity strategy
Brand hierarchy: It is defined as the summing-up the brands strategies in which they highlight
the specific number as well as nature of brands elements that can be similar and distinctive
across the products, indicate the explicit of the organisation (Gratwohl, 2011). There are some
key objectives of brand architecture that are as follows such as:
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Illustration 2: brand hierarchy 2016

 Clarity: It is the major objective that brand hierarchy requires for promoting clarity in the
organisation and market as well. Synergy: This business strategy allows to Mercedes to serve best than competitors and
brand promise so that any single brands can be achieved.
 Leverage: In this, an effective architecture of strategical brand must be provided so that
Mercedes can extend their business or brands for capturing the market and achieve
competitive advantages.
Task 3
P4 Brands are managed collaboratively and in partnership
In this present scenario, there are various companies in automobile sectors which are
most popularized brand but so lots of competitions exist in the market. Mercedes has strong
competitors and one of the major is BMW, so they generally adopt various strategies for
competing to the competitors and survive from competitive market (Hanna, 2011). They also
focus on managing their brand image through effective collaboration in the international and
national market. These are as follows:
Line extensions Brand extensions:
It is the part of marketing strategies where
manager perceives extensions as a low cost,
low risk for the purpose of meeting with
customers. Mercedes Benz provide variety of
products or new model car to the people for
satisfy their desired expectations.
Mercedes Benz is one of the automobile
industry which covered wide area of the world
and they are expanding their business across
various country. They have established their
manufacturing plants at several places so that
they can easily approach to the customers.
There are latest new featured car has been
launched in the market such as GLA Class, E-
Class and CLS.
Leverage: Financial leverage support to Mercedes Benz for making decisions regarding
the expansions of the business and generate higher profits. It has a significant impact so that they
should analyse for putting some more weight into it. Above this statement, it has short term
positive impact on this enterprise that helps in adding more values as this factors support in
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reducing cost. Its financial leverage is defend able qualitative factor, so that competing with
institutions will have difficult time for overcoming it.
Approach and strategies of brand extensions: Mercedes Benz is German brands that provides
excellent roadmap for luxury brand success using various market strategies and segmentations.
They provide beneficial methods for getting younger audience without losing brand prestige
(Rowley, 2011). Mercedes Benz has decided to reach at potential customers by life cycle and
attracts more youngsters or consumer demographic.
Here some strategic approaches are defined that support to measure the potential for the brand's
extensions into a new categories and in this involved various aspects such as:
 Brand imaginations: In this considered that how a organisation can be successful by
merging one or two brands for appropriate extensions.
 Innovations: In this, company generally take decisions regarding the modification
of existing products by adding some unique or more features in the new product and
launch it into the market. This is called Blue Ocean Strategies.
 Brand portfolio management: In such kinds of strategies, management take
decisions regarding the brands that must be used from various category and
rationalise it by removing the weak brand as well as use effective on for the
capturing market and sales.
Mercedes Benz generally focus on adopting the Ansoff's Growth share matrix which support in
developing the strategies as well as planning to maker the organisation effectively and compete
with competitors. This is an essential that helps in determining the latest market trends for
making decisions regarding expanding the brand at global level. It can be divided into four parts
such as:
Market penetration: In this defined as the selling of particular products to the existing
customer who are already using it. So this strategy consider as heavily promoting products that
reduce more pricing as well as increase the sales (Hollembeek, 2011). It generally adopted by the
supermarkets and Mercedes Benz launched new cars with unique features and innovative
versions so that they provide best choices to the customers. BMW and Audi are big competitors
of Mercedes Benz so they are giving tough competitions and create difficulties for wining.
Company use promotional strategies so that they can convince to individuals for buy the
products of this firm.
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Product development: In this defined that developing or improving the products and
services for the loyal customers. There are less risks in this strategy because company is not
familiar with new products. Mercedes Benz launched it GLA class car which has unique feature.
Market development: In this consider when a existing product launch in the new market
is called market development (Hwang, 2012). So that Mercedes is launching its products among
various countries to increase their brands.
Diversifications: This refers to introducing new products in completely new market as in
this involved various strategies such as risks and costs. No one is aware about the future
outcomes but at the end rewards is worth it.
Task 4
P5 Different types of techniques for measuring and managing brand values
Brand management is an essential for getting success of an organisation. Every firm
focus on managing their brad value in the market and also achieve growth of economy. This is
beneficial tools for Mercedes Benz to attract huge numbers of customers towards the company's
products. There are some tools and techniques that company generally use such as:
Brand awareness: Mercedes Benz is one the biggest brand of Automobile sector who has strong
reputations in the world, so they can measure their values through identify the market awareness
among competitors regarding the products. It is an effective tool for measuring brand values for
the Mercedes Benz.
Market shares: This firm is earning more in the market from selling its products and services.
Therefore, their market share is also increasing due to enhancing sales volume. It is another way
for measuring the brand value among people that how much they like the particular brand or
products of an organisation.
Clarify brand values: In this phase, company has to clarify their brand values among
competitors as it can be categories in hard line and soft perspectives. These aspects generally
concentrate on the pricing strategies so that both are valuable for customers. Mercedes Benz
adopt several strategies for promoting their brand image and try to generate more customers and
their demands through awareness.
Brand values for research goals: Every company requires to identify their goals and
objectives as well as visions for achieving success (Kandampully, 2012). It is very useful in
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attaining the predetermine targets of the Mercedes company, so they are focusing on rapid
growth by manufacturing and launching new car for target audiences.
Identify clients attitudes: In this stage, organisation tries to identify customers attitudes,
preferences and choices regarding the company's products and services. Mercedes Benz always
focus on finding their potential customers through survey and offer best schemes to attracts more
customers towards organisation.
Evaluating the perceived brand differentiations: Company identify the buyers
perception regarding the brand values as in this, organisation can find or know about their
product's values in the market. Mercedes Benz knows about their brand values at the
marketplace.
Various data collections methods as Qualitative and Quantitative for brans values: In
this approaches, company can gather information regarding the brand values through these
sources so that they can analyse their needs and wants (Jiang, 2011). Mercedes Benz also take
advantages of this as conduct survey or research for identifying their brand values in the market.
Brand equity audit and tracking techniques: Mercedes Benz is very popular automobile company
in all over the world and there is a SWOT analysis of this company that helps in measurement as
these are following such as:
Strengths of Mercedes-
 Manufacturing facilitates at worldwide: This company has manufacturing facilities across
the 6 continents and they are selling cars & buses to the passengers that support in
keeping cost low and increase profits.
 Financial stability: There are strong financial positions of the Daimler which is parent
company and several other world re-owned brands that helps in minimising the cost of
operations by using available resources.
Weaknesses:
 Expensive after sales services & maintenance: In this, it is compulsory to decide the
service cost because it is expensive so people may not afford its maintenance charges.
 Conflicting goals of the company: There may be some conflicts that can arrive while
running business because of Daimler.
Opportunities:
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 Growth shifting to the ocean market: American and European market is the pulse of the
industry and now it is shifting to china and Asian nations for developing the market.
 Increasing demand: There are various companies such as Audi, BMW and VOLVO that
are betting high and also targeting the developing nations due to increase in demand of
luxury public transplantation systems.
Threats:
 Intense competitions: Big organisation or players such as AUDI,BMW and Volvo etc.
that are biggest competitors and leaders in the most of the markets.
CONCLUSION
From the above project report, it has been concluded that brand management is essential
for building the image, reputations and goodwill of an organisation in the target market. This
study is based on Mercedes Benz which is German company and deals in Automobile sector.
Organisation requires to maintaining its brand value in the national and international market and
also requires to adopt various strategies to compete with strong competitors.
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Online
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