Brand Management

Brand Management

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
Overview of brand, brand equity and stages of becoming successful brand along with role of
marketing team in developing brand equity................................................................................1
Strategies to strengthen brand extension, brand equity, brand reinforcement and revitalization
or overcoming brand crisis...........................................................................................................2
Importance of branding as a marketing tool ...............................................................................4
TASK 2............................................................................................................................................5
Various strategies associated with portfolio management and brand hierarchy..........................5
Mention strategies to manage equity of brands in portfolio of organisation...............................6
TASK 3............................................................................................................................................7
Strengths of brand leveraged and weakness requiring attention also mention partnership &
collaborative agreements.............................................................................................................7
TASK 4............................................................................................................................................9
Different kind of technique to manage and measure brand by using organisational example....9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Brand management is referred as a set of techniques and actions so that perceived value
of a specific service or product can be enhanced in a considerable manner. Managing brand in an
effective manner benefits an organisation in building loyal consumers due to positive brand
association so that high revenues and profits can be earned (Balmer, 2012). This assignment
report is prepared in context with Optimum impression Ltd. which is an well known advertising
organisation with major objective is to reach at large no. of consumers. This assignment is going
to cover about value of branding as tool of marketing and components of successful brand
strategy. Various strategies associated with brand hierarchy, equity and portfolio management
are discussed. Aspects of managing brand in partnership and collaboration are mentioned. At
last, different kind of techniques of managing and measuring brand value are discussed briefly.
TASK 1
Overview of brand, brand equity and stages of becoming successful brand along with role of
marketing team in developing brand equity
BRAND IS POWER
Introduction:
Brand is defined as a concept, name, logo, mark, sentence or a word which is used by an
organisation to differentiate their services and products from other businesses. In case of M&S,
brand is considered as their most valuable concept as it represent face of organisation. Brand
equity is referred to a marketing term which specifies the value of a brand. This value is
acknowledged through experience and perception of customers towards a particular brand
(Bhushan, 2012).
There are different stages which are linked with building a successful brand which are stated
below:
 While building a successful brand, determining target audience is very important so that
right product can be given to right customers.
 Establishment of brand mission statement and research about other brands within
industry niche.
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 Formulation of value propositions and identification of brand guidelines.
 Marketing about brand so that maximum number of people can acknowledge about
products or services of company.
Role of marketing department in formulating brand equity
Marketing department of a company plays an important role in developing high brand
equity. Role of marketing department in M&S is mentioned below:
 Due to advertisements and promotions, marketing department in M&S help company in
popularizing their products or service along with their unique characteristics and
features. This benefits in gaining customer's attention more effectively due to which
customer values a product more and a strong brand equity is created for a particular
product or ranges of product (Chinomona, 2016).
 Marketing team in M&S benefits in creating positive image of company and their
products in the mind of population due to their promotional activities. Due to this,
potential and existing buyers of company are converted into loyal customers.
Main body:
Strategies to strengthen brand extension, brand equity, brand reinforcement and revitalization or
overcoming brand crisis
Successful strategy to strengthen brand equity
Brand strategy is referred as an aspect which defines long term goal of a company attained by
becoming a successful brand (M&S’s shake-up suggests its ‘one brand’ marketing strategy
didn’t work 2019). in context of M&S they faces some problems that arise problems in catching
the right kind of consumers that is they spent few time to bring advertisement of the two
businesses that are clothing and home with food that create the major reshuffle and shift the
strategy in dramatically manner. Brand equity is defined as a value of brand within market and
in the mind of customers. Brand equity is of two kinds i.e. positive and negative. If consumers
thinks positive about the offerings of company, it is referred as positive brand equity whereas if
people believe negative about the service or product of a firm, it is referred as negative brand
equity.
In case of strengthening brand equity, manager in M&S can use Keller's brand equity
model which is also known as CBBE model. This model includes six building blocks that helps
in developing a successful brand. Aspects of this model are stated beneath:
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