Brand Management: Building, Managing, and Leveraging Brands

Running Head: BRAND MANAGEMENT
Brand Management
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Executive Summary
The term brand management is one that essentially implies overseeing or supervising all the
activities associated with assessing and managing the value of a branded product or service. It
needs to be carried out in order to determine how well a particular brand is doing in the
market. Brand management is a process that is conducted using a number of quantitative
methods and techniques. This report takes a look at the way in which brands are developed
and managed over time, how brand portfolios are managed, how brand measurement
techniques are used to assess the value of brands and how brands are leveraged at the
international and domestic level.

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Table of Contents
Introduction................................................................................................................................2
1. Understanding How Brands are Built and Managed Over Time........................................2
1.1. Building Brands...........................................................................................................2
1.1.1. Advantages of Branding for Consumers, Intermediaries and Organizations..........3
1.1.2. Understanding Brand Equity...................................................................................3
1.1.3. Understanding how Organizations Grow and Develop Brand Equity.....................4
1.1.4. Role of Marketing in Establishing Brand Equity, and Brand Positioning and
Techniques.............................................................................................................................4
1.2. Managing a Brand.......................................................................................................5
1.2.1. Strengthening a Brand.............................................................................................5
1.2.2. Restoring and Recovering a Brand..........................................................................5
1.2.3. Using Converging Technologies for Engaging with Customers.............................6
2. Analysis of Portfolio and Hierarchy Management of Brands.............................................6
2.1. Brand Portfolio Strategies...........................................................................................6
2.2. Understanding Brand Hierarchy..................................................................................7
2.3. Hierarchy and Brand Equity Building.........................................................................8
2.4. Understanding how the Customer Brand Equity Model can be used for Developing
and Managing Brands............................................................................................................8
2.5. Using Market Research as a Tool for Brand Management.........................................9

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3. Evaluating how Brands are Leveraged and Extended over time Domestically and
Internationally............................................................................................................................9
3.1. Brand Extension Approaches and Strategies...............................................................9
3.2. Fit and Leverage in Brand Extensions.......................................................................10
3.3. Determining the Different Ways by which Brands can be Revitalized and
Reinforced............................................................................................................................10
3.4. Brand Partnerships and Collaborations.....................................................................10
3.5. Global Branding and Positioning..............................................................................11
4. Evaluating Techniques for Managing and Measuring Brand Value over Time...............11
4.1. Brand Measurement Techniques...............................................................................11
4.2. Brand Tracking Techniques and Brand Equity Audit...............................................12
4.3. Understanding the Relationship between Branding and Finance..............................12
4.4. Understanding the Concept and Different Approaches to Brand Value...................13
Conclusion................................................................................................................................13
References................................................................................................................................14

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Introduction
Brand management refers to the activity of overseeing or supervising the promotional
activities that are carried out for a branded product or service. It involves detailed planning
and analysis and has a vital role to perform regarding the manner in which brands are thought
of and viewed as in the market. Some tangible brand management elements are the product
itself, packaging, the price and the look (Rosenbaum and Pervam 2015). This report analyzes
various aspects connected with a brand management process like the ways brands are built
and managed over time, the manner in which brands are well organized in several portfolios
in addition to the way brand hierarchies are created as well as managed. It also assesses how
all brands get leveraged internationally and domestically as also the different methods and
tools used for measuring as well as managing the value of a brand over time.
1. Understanding How Brands are Created and Managed
1.1. Building a Brand
The brand refers to a symbol, term, design, or any other feature, which clearly helps
in distinguishing one organization from another or one product in the market from
another, as far as the customer is concerned. Name brands in particular tend to be
distinguished from store brands or generic brands. Brands are made use of in the domain
of advertising, marketing and business (Heding et al. 2015).
In order to develop a brand, a company or a business enterprise first decides what it is
that it is going to brand, that is, whether it is going to be branding a service, a product or

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even an individual. Market research is then carried out and the service or product to be
branded is positioned in the market. The brand definition is written thereafter, with logo,
tagline and name, after which it is launched and then managed, leveraged and protected
(Santos-Vijande et al. 2013).
1.1.1. Advantages of Branding for Consumers, Intermediaries and
Organizations
There are five major benefits associated with branding for intermediaries, organizations
and customers. The first is customer recognition. A strong and substantial network of brands
can go a long way in building customer recognition. The second advantage is associated with
branding is that it gives the organization or consumer a competitive edge in the market.
Thirdly, branding helps in introducing new products in the market rather easily. Fourthly,
branding builds customer loyalty along with shared values. Fifthly, branding results in
enhanced credibility for a product or service as well as ease of purchase. If a product or a
service is branded, there will be a greater chance on the part of customers to go ahead and
buy it. If an organization or business enterprise sells products, which do not have brand value,
there is every chance of the sale figure not being such a high one for these products (Hanna
and Rowley 2013).
1.1.2. Understanding Brand Equity
Brand equity is a well-known term that is used in the marketing sector. It refers to the
value that is associated with well-known brand names. Brand equity is something that is
based on the idea that owners of renowned or popular brands in the market can end up
generating greater revenue than usual very simply because of brand recognition. Products that
have a brand name are those that tend to do far better in the market than the products in the
market, which do not have a good brand name. Consumers are therefore more than likely to