Brand Management Assignment - Apple and Google company
Added on 2020-10-04
17 Pages5752 Words43 Views
BRAND MANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Brand is build and managed over time..................................................................................1P2 Analysing key components of successful brand strategy for building and managing brandequity...........................................................................................................................................3SECTION 2 .............................................................................................................................4P3 different strategies of portfolio management, brand hierarchy and brand equitymanagement: ..............................................................................................................................4P4 management of brands in partnership both in domestic and global:.....................................6P5 Types of techniques for measuring and managing brand values:.........................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONIn order to sustain in the competitive environment and to gain the customer attractions,the management of organisation implements various and distinctive brand strategies. Brandmanagement is the analysis and planning on how that brand is perceived in the market. Inaccordance with this context the following report will defines the aspects of brand and brandmanagement. The importance of brand as the marketing tool and how it helps the business toincrease will discuss in this assignment. The key components of successful brand strategy willbe cover in this report. Different strategies of portfolio management, brand hierarchy and brandequity management will be analysed in this report. The management of brands both domesticallyand at global level will be analysed in this report. TASK 1P1 Brand is build and managed over timeMeaning of brand: Identity given to a product at marketplace is called as brand. Thereare close substitutes to many products and by the name of a brand, the product is differentiated.The existence of brand name creates loyalty, trust, faith and demand by the consumers (Brand isbuild and managed over time). Brand owns personality and identity with a provided name byvision, emotion, culture and personality. Name of brand can be explored in the market with thehelp of advertisement, promotions, launching of difference in style and varieties of a particularproduct. For example, in this report the brand chosen is marketing firm Apple and Google.These are the leading organisation incorporating their business activities and operations ininformation technologies.With the name, Apple and Google owes a name and personality andculture for itself to execute. Patents, trademarks and copyrights are the assets of brand. Theseassets help to prevent the organisation by the competitors (Rosenbaum-Elliott, Percy, andPervan, 2015).Important tool of brand marketing: For creating a positive image in the minds of theTo remember the name of the product by its generic name plays as a tool for brand importance.Building identities to the products helps in achieving the loyalty of the consumers. When startedusing from the first time consumer gets used to with the product. For example, marketing firm ofApple and Google, consumers got used to as quality products and services are provided by theseorganisation and the consumers to get benefit out of it by satisfying them in their needs.1
Meaning of brand equity: Choice is made by the consumer for a product or service,then the existence of brand equity arises. There are certain measures to determine brand equity(Vigneron, and Johnson, 2017). With the use of various parameters that are prominentlyconsidered are taken for evaluation of earnings of brand. The difference between the brandedand the non-branded products are highly charged. The factors contributing to brand equity areawareness of the brands, association of brand and brand loyalty. Total quality of the brand istaken into perception as it may vary from time to time as changes made by consumers in theirlifestyles.Brand differs from a product: Products are created and produced by companies andserved to the society. “Whereas” the served products changed into brand successfully toconsumers. For example, the designing and social media is created and service provided byApple and Google and the marketing firm's conversion into brand is executed by consumers, bymeans of high demand for the firm. There are many close substitutes to the product but the nameof the brand changed by every company, they cannot serve product with same name which,already exist as a brand. Hence, the brand name is unique. The produced goods and servicescarry its manufacturing and expiry date. But the name of brand does not have date of expiry itcan be felt, but cannot be seen. As it is intangible asset of the companies (Ertimur, andCoskuner-Balli, 2015).Key elements of strong brand: There are certain key elements of brand that are optedby Apple and Google to retain the position among the consumers. The first element is to targetthe audience by maintaining quality and price of products or provided services. The second keyelement is brand promise which is communicated to the audience by describing the targets.Brand promise explains about the expectations of purchasing of product or service. For example,Apple and Google explains about the designing which consumer will get by placing orders. Theperception of brand is another key element which explains about the changes made and to bemade in future. By this, they also get known about the needs of the consumers in order to servethem better. Positioning of brand explains about the position hold by the brand throughcontinuous progress. Brand management and development: There are certain key principles that explainsabout brand management and development. The objectives of the brand should be wellcoordinated to achieve it without hindrances and with effectiveness and efficiency in2
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