Importance of Branding in Marketing and Business Practice

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.