Importance of Branding in Marketing and Business Practice

This document discusses the importance of branding in marketing and business practice. It explores the key components of brand strategy and how to manage and build brand equity. It also covers various strategies of brand hierarchy, portfolio management, and brand equity management. Additionally, it describes how brands are managed in partnerships and collaborations at both international and domestic levels. Finally, it provides techniques to manage and measure brand value.

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Importance of branding in a marketing tool and appear in a business practice......................3
P2 Key components of brand strategy to manage and build brand equity. .................................4
M1 Brands are managed successfully by using models, theories and concepts. ........................6
M2 Apply valid and appropriate example within company.........................................................6
TASK 2 ...........................................................................................................................................6
P3 Determine various strategies of brand hierarchy, portfolio management and brand equity
management ................................................................................................................................6
M3 Analyse brand hierarchy, equity and portfolio management using models, theories and
framework. ..................................................................................................................................7
TASK 3............................................................................................................................................8
P4 Describe brand are managed partnership and collaboratively both at international and
domestic level..............................................................................................................................8
M4 Evaluate use of different techniques to extend and leverage brands.....................................9
TASK 4............................................................................................................................................9
P5 Techniques to manage and measure brand value..................................................................9
M5 Evaluate technique to manage and measure brand value to develop strong brand.............10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Brand is defined as a name to differentiate company product and services to recognize
logo, symbol and slogan of company(Ahn, 2019). Brand equity describes as brand value which
organisation acquire from their reputed name from other identical products. It is important for
customer in buying decision which improves enterprise sales volume and profit of enterprise.
Marks and Spencer is a British multinational retail company and it is founded by Michael Marks
and Thomas Spencer in year 1884. Headquarters of M&S in London, England, UK. M&S sells
products in food, home care and clothing. This report include importance of branding and
involved in business practice, building a brand strategy, managing equity, brand organise in
portfolio and managing hierarchy, trade name extended in global and domestic and company
manage and measure its brand value.
TASK 1
P1 Importance of branding in a marketing tool and appear in a business practice.
Brand is defined to recognize products or services from other sellers. This is easy to
launch new products which help company to attract customers as they have strong brand name.
Branding is important because promotes recognition to customers as it distinct their products and
it is beneficial for company to create revenue, image which maximize brand value of
organisation. Marks and Spencer is retail company in UK and promote their products such as
clothing, food and home products. Another company is Tesco is a British multinational groceries
in UK and founded by Jack Cohen in year 1919. M&S in past open his own stall named Leeds-
based penny stall in year 1884 and two entrepreneur decided to open their store in Leeds arcade
in 1904. Thus, it emerge in business practices and focus on its brand value and brand equity in
market(Baumgarth, 2018).
Importance of Branding
Branding as a marketing tool is important to attract customers which impacts positively
as consumer are familiar with the brand image of Marks and Spencer.
Logo is essential element of company which shows brand image to the audience to
increase performance and profit of business.
When worker perform jobs in M&S they are satisfied with their work to develop their
sales force in marketplace.

Advertising is important for branding and in promotional plans which review brand goals
and build strategy to spread their new products, logo and packaging.
Branding helps Marks and Spencer to build its financial value for increasing company
market share and financial return of organisation.
Aaker Model
Aaker model identifies the essentials of brand identity and provide guidance to build
successful brand. This model increase brand equity and helps company to maximize higher profit
in future(Beverland, 2021). It helps M&G to examine market perception for product to achieve
goals in business. There are five elements of Aaker model which are described below:
Brand loyalty: This model helps to minimize marketing cost and it ascertain that loyalty
cannot be copied by competitors as it takes time to introduce products. Thus, it examine
customer loyalty to brand.
Brand awareness: It helps company to know that customer are well known about brand
to purchase their products in market. Marks and Spencer provide offers, campaign and
promotional activities to attract customers to increase profit of a business.
Perceived Quality: M&S provide high quality products and services such as in clothing,
home care products and health food products to run their business in future
Brand association: Brand association is when company market their products which fit
in customer minds and plays important role in purchasing decision which create positive feeling
among audience.
Proprietary assets: Asset such as patents, channel relationship and trademarks have a
competitive advantages from the other brands.
P2 Key components of brand strategy to manage and build brand equity.
Brand strategy is a future plans for development of brand to achieve goals of company
and increase profitability of business. It helps to communicate about products with audience
efficiently to maintain loyal customers and focus on overall performance and growth of
enterprise.
Purpose: Marks and Spencer purpose focus on selling product and generate money for
the success of company to reach organisational objectives. Purpose of M&S is to give high
quality, innovation and services to customers from their competitors to manage and build bran d
equity.

Consistency: It gives message to consumer about brand that is reliable, relevant and
cohesive to enhance equity. It helps Marks and Spencer to become recognizable brand to market
their products(Coelho, Bairrada and Peres, 2019). M&S have to ensure that use of colours,
messages and images are consistent with company brand image and equity.
Emotion: M&S understand customer needs and preferences to connect with them which
develop loyalty when company provide more from their price that gives an emotional attachment
to your brand.
Employee involvement: It is important for company to improve brand recognition and
workers involvement is essential as they communicate and handle consumers to represent brand.
Workers gives brand value, objective and helps in achieving goals of entity.
Suggestions for extending and reinforcing brand
From the above discussion it has been analysed that it can follow brand strategy by
entering into new product categories and follow current market trend to build brand image which
create brand awareness. M&S can use effective marketing tool for launching new products. It
also helps organisation to increase life span while extending and reinforcing brand. M&S can
form joint venture with another company to maximize profitability and deliver more new
category products and services.
Role of marketing in building brand equity
Developing a clear mission and vision: It is essential to have clear vision and mission of
M&S because it represents organisation objectives to achieve and develop brand image and
equity.
Maximize brand awareness: M&S increase awareness by advertising and marketing
products and services such as digital marketing, seminars, events and blogs to reach its targeted
goals.
Build trust: M&S build relationship with customers through providing high quality
goods, communicate and solve issues of audience and provide good service for better experience.
Respond to market: Marks and Spencer collects information of changing technology,
needs and preferences and interest of consumers through survey to give them better quality
products which build brand equity in market.

M1 Brands are managed successfully by using models, theories and concepts.
Company manage their brands using Aaker Model which assess brand name and provide
solution to strengthen success of brand. It helps to manage advertising and marketing in
company to develop business operation. Strong brand helps Marks and Spencer to keep customer
long to purchase products from them which gives competitive advantage in the market. Brands
are managed over time to develop brand image and equity by promoting marketing plans and
provide knowledge to customer about brand.
M2 Apply valid and appropriate example within company
It is essential for every organisation to use brand strategy to communicate core values to
audience. For example, Marks and Spencer using content marketing strategy to provide brand
information and latest updates regarding cloth, food and home care products to its clients.
Strategies that are using to manage brand equity is purpose is to make money and achieve
success in business, consistency to ensure that M&S offers better quality to build brand equity.
Strategy gives direction to enterprise to focus on long term goals. Marks and Spencer using
advance technologies to engage with consumers such as apps, websites to respond quickly
related to feedback and resolve issues (Brand strategy that uses by Marks and Spencer, 2021).
TASK 2
P3 Determine various strategies of brand hierarchy, portfolio management and brand equity
management
Brand portfolio management is defined as managing brand in organisation to serve
various market segment. This is important in company because it helps to look and check all
brands in one frame.
Strategies of portfolio management
It is defined as to make strategy in order to create return which impacts the profitability
of company. Strategies of this management is active strategy which refers to specific style and
generate sales which beat competitors in market of Marks and Spencer(Greco and Polli, 2020).
In this strategy there are two styles such as top-down and bottom-up approach. On the other
hand, passive strategy is where M&S cannot beat market but returns are gained from low
investment for its long goals.

Keller's Brand equity model
This models tells about changing strategy and boost brand equity to recognize customers
needs and wants for development of brand image and profit of organisation. This model has a
shape of pyramid which has four levels that are described below:
Identity: Identity is important for customers to aware about a brand and products which
distinguish goods from other seller. It benefits M&S brand to compete with quality from rivals
and create awareness and values to audience.
Meaning: Marks and Spencer begin to build brand loyalty which defines quality of
products that company offers prices to audience in market. It gives meaning of brand with
various things such as customer service and social causes which give consumer a reason to buy
more that increase company performance and brand imagery in the eyes of audience.
Response: Customer give response when they buy a product from company and they are
satisfied with brand this lead to develop its brand equity.
Relationship: M&S is a brand which builds strong relationship with customers to stay
connected with them to boost customer loyalty and maximize success of business.
Brand hierarchy within organisation
Brand hierarchy refers to a structure that summarise brand strategy by showing the nature
of similar and multiple brand elements in the company product. The hierarchy management of
Mark and Spencer brand are corporate, individual and modifiers(Heine and et.al., 2018).
Brand hierarchy within organisation starts to distinguish their products with new product
category and adapt various scheme to diversify their products and services. It helps in identifying
current brand structure and prevent customer confusion from separating products which ascertain
proper hierarchy to plan its financial as well as marketing strategies.
M3 Analyse brand hierarchy, equity and portfolio management using models, theories and
framework.
Marks are Spencer use Keller's model to determine portfolio management, equity and
hierarchy. The positive aspect of this model is that it trace marketing to create customer loyalty
and build brand equity. On the other hand, negative aspect of model is manager play important
role in increasing brand equity and performance of Marks and Spencer to recognize this model.

TASK 3
P4 Describe brand are managed partnership and collaboratively both at international and
domestic level.
Brand leveraging refers to strategy used existing name for entering new products in
market which is linked to product category by advertising products to audience. This helps
enterprise to launch goods because it provide customer positivity about brand attitudes and
features into a different classification of products.
Basis Line extension Brand extension
Definition Line extension is used to
establish brand name for new
product in existing product
category.
Brand extension are used in
marketing strategies when
Marks and Spencer goods and
services use same brand name
at various product category.
Purpose This strategy serves distinct
consumers wants or segment
to offer products to them. This
helps Marks and Spencer to
grow business from rivals.
Benefit of this technique is to
maximize brand image and
strengthen existing brand
equity.
Brand helps in increasing in company's value and it determines customer perception of
organisation customer service, symbol and advertising. Branding is important because it helps
client to distinguish their products from competitors in market.
Brand management at domestic level
Manager of Marks and Spencer ascertain brand perceived in market to plan and reach its
objectives in organisation. Brand collaborations and partnership are important as they benefit to
bring brands together for their reputation. Marks and Spencer has extended his brand to new
product category such as M&S Bank and M&S Energy at domestic level. M&S Bank offers
financial services such as personal loans, saving account, credit card facility and many more
whereas M&S energy provide 100% renewable source electricity to customers to increase sales
and revenue of business(Ind and Schmidt, 2019).

The another brand is Tesco that is managing their brand at domestic level such as Tesco
bank and tech support system provides clients services through its website for the opportunities
to increase there business in an efficient manner.
Brand management at Global level
Brand at global level requires collaboration among different countries that provide Marks
and Spencer clear picture to develop and offer quality product to their clients. On the other hand,
brands of company has partnership and working with UK franchise partners at global level such
as Central group and FIBA group(Keller and Brexendorf, 2019).
The other brand Tesco is leveraging upon products at international level in hypermarket
as well as in supermarket so that product ranges to customers and build strong market position.
Collaboration as well as Partnership Agreements
From the above analysis it evaluated that in partnership agreement M&S adapt these
strategies of brand and line extension for brand awareness among audience to build brand equity.
Brand management helps to increase brand image in marketplace. In context to Marks and
Spencer, issues at domestic as well as international level occur financial losses in this year due to
COVID-19 pandemic. Now, recently company has increase its profit and sales of business
through campaign and promotional techniques.
M4 Evaluate use of different techniques to extend and leverage brands.
Brand leverage refers to use strategy of an existing brand identity to launch a new
category product in the market. Mention below are strength and weakness of leverage brand:
Strength: The strength of Marks and Spencer has strong consumer driven software to
style, design and pricing decisions across different product classification to meet customer taste
and preferences(Lalaounis, 2020).
Weakness: Weakness of enterprise is declining sales due to manual process it cost
consumer high as company has adapted new technology.
TASK 4
P5 Techniques to manage and measure brand value
Brand value defined as financial amount of company. This amount is based on financial
statement of organisation. It benefits Marks and Spencer to distinguish their brands from
competitors such as Asda, Tesco and Aldi UK. It has been observed that consumer are ready to

spend more for the brand which they are aware of that product. M&S launched SPARKS loyalty
card to its clients for instant points to purchase free from that points. There are different
techniques to measure and manage brand value which are as follows:
Brand awareness: It is term which is used for customer recognition of product and
services. It helps to aware consumer about brand quality that differ from competitors to attract
new clients. M&S use Unique personality tool to measure brand awareness. Company provide
unique items to its audience to gain loyalty in marketplace and it is not easy for rivals to copy
their products.
Market share: It examines the revenue of organisation over a particular period. It is used
to determine the size of business in market. Investors can analyse company past record, brand
preferences and other data to invest in share of a Marks and Spencer. In this, Market share
indicator has undertaken as a tool to measure entity performance(Melewar and Skinner, 2018).
When market share increases, it allow enterprise to improve profitability and business
operations.
Consumer attitudes: In this company can analyse customer behaviour, beliefs and
feelings towards promotion which organisation offers to audience. In this, M&G is using ordinal
scale to ascertain favourable or unfavourable, interest and behaviour of consumer. Organisation
can identify their attitudes by market research which product category they use and spend more
in market.
Purchasing intent: It is the possibility that a customer will purchase a goods or services.
To ascertain marketer use forecasting model to determine the needs and wants through social
media and digital media. This helps company to improve their quality and update services or
innovate new product in marketplace(Mills and Robson, 2019).
M5 Evaluate technique to manage and measure brand value to develop strong brand
Strength of M&S is it has strong infrastructure facilities of e-commerce, effective
corporate social responsibilities, different category products and has good customer service
whereas weakness of M&S is it always rely on UK markets conditions and issues in financial
performance. The threats and weakness of M&S is online shopping, market segmentation and on
the other hand, threats are competitors such as Amazon, Morrisons, Tesco and Sainsbury's in
market(Waller, 2020). Currently, Marks and Spencer are facing problems in clothing and food

departments as they are suffering from tough competition in market with high street rivals as
they are making more fashionable products then M&S.
CONCLUSION
From the above report it is concluded that brand is important as marketing tool to
describe its brand image, brand performance and distinguish products and services from other
sellers in market. Logo, advertising and slogan differentiate their product category from others
which help to maximize profit and success of Marks and Spencer. It describes the components of
brand strategy to manage and build brand equity through purpose, emotion and employee
involvement. It has analysed brand hierarchy by Keller's model through brand loyalty,
awareness, better quality and propitiatory asset which helps to build successful brand equity and
brand image. There are some techniques to measure brand value which is brand awareness,
market share, consumer behaviour and purchasing intent.

REFERENCES
Books and Journal
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brand management: A conceptual model. International Journal of Contemporary
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brand love. Journal of Product & Brand Management.
Greco, F. and Polli, A., 2020. Emotional Text Mining: Customer profiling in brand management.
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Heine, K. and et.al., 2018. Personality-driven luxury brand management. Journal of Brand
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Ind, N. and Schmidt, H. J., 2019. Co-Creating Brands: Brand Management from a Co-Creative
Perspective. Bloomsbury Publishing.
Keller, K. L. and Brexendorf, T. O., 2019. Strategic Brand Management Process. In Handbuch
Markenführung (pp. 155-175). Springer Gabler, Wiesbaden.
Lalaounis, S. T., 2020. Strategic Brand Management and Development: Creating and Marketing
Successful Brands. Routledge.
Melewar, T. C. and Skinner, H., 2018. Territorial brand management: beer, authenticity, and
sense of place. Journal of Business Research.
Mills, A. J. and Robson, K., 2019. Brand management in the era of fake news: narrative response
as a strategy to insulate brand value. Journal of Product & Brand Management.
Moise, M. S. and et.al., 2019. Influence of environmental practices on brand equity, satisfaction
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Waller, T., 2020. Personal Brand Management. Management for Professionals.
Online:
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