Brand Management: Strategies for Building and Managing Brand Equity

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
P1) Illustrate the value of Branding as a marketing tool along with its emergence within
organisation............................................................................................................................3
P2) Analyse the key components of a successful brand strategy for building and managing
brand equity............................................................................................................................4
M2) Apply appropriate and validated examples within an organisational context................6
TASK 2............................................................................................................................................7
P3) Analyse different strategies of portfolio management, brand hierarchy and brand equity
management............................................................................................................................7
M3) Critically analyse portfolio management, brand hierarchies and brand equity using
appropriate theories, models and frameworks........................................................................8
TASK 3............................................................................................................................................9
P4) Management of brands collaboratively and in the partnership at domestic and Global level
................................................................................................................................................9
M4) Evaluate how different techniques are used in order to leverage and extend brands...11
TASK 4..........................................................................................................................................11
P5) Different techniques and tools to manage as well as monitor the value of brand at market
place......................................................................................................................................11
M5) Monitor applications of different techniques to measure and manage brand value to
evolve a strong and enduring brand:....................................................................................13
D1) Develop an evaluation and justified it with appropriate evidence by demonstrating detail
understanding of branding in context of organization:.........................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Brand management is a marketing function that is related to adopting of techniques for
enhancing the value of a product line. It is a function that is used by organisation for purpose of
leading and attracting customers. Brand posses a impact on the purchase decision of customers.
Present report is based in Dyson Ltd. Which was started in 1991 and was founded by James
Dyson. The organisation is dealing in products such as hand dryers, hair dryers, vacuum cleaner.
The report is based on importance of marketing and different components of marketing that are
related to managing of partnerships and collaborative relationships at global level (Ströbel and
Germelmann, 2020). Portfolio management strategies and hierarchy management strategies are
part of this report that is further assisting in development of a suitable brand image. There is
evaluation of techniques of managing and measuring brand values.
MAIN BODY
P1) Illustrate the value of Branding as a marketing tool along with its emergence within
organisation
Branding is an important marketing function that helps in order to create an unique
identity of an organization at market place. It includes symbol, logo, colour and other visual
elements belongs to company. This practice is essential to make a difference in product and
services offer by business entity from other competitors. Dyson has strong brand value among
the consumers of UK (Świeczak, 2016). The importance of branding as a marketing tool in
selected company is elaborated as follow:
Develop Customer preference: Branding function is crucial to create a difference at
market place. When consumers get satisfy with a particular product they give preference to the
goods and services offer by that brand. It helps to create a loyal customer base and give
competitive advantage to company. Marketing managers of Dyson, ensure to create a positive
image of company among buyers. Consumer give preference to products of company over other
competitors such as Bosch, Samsung electronics and so on. They need to use attractive name,
logo, colour and other elements in order to grab the attention of new buyers. With this, it is
analysed that managers of organization need to more focus on branding strategies and adopt new
practices as per current trend.

Enhance market share: Branding helps to position the product or service among target
segment. It creates an unique identity of company at market place due to which consumer give
preferences to the products of a particular brand. Furthermore, it is essential to attract more
number of new buyers that will increase revenue of organization. This function of marketing
helps a company to enhance its market share by increasing in existing customer base. Dygon has
strong presence in the market. They are using effective brand marketing practices to
communicate their USP with target audience. Mangers of company are able to make efficient
strategies and policies to promote their brand in different countries (Barger, Peltier and Schultz,
2016). It will enhance their business and increase in the revenue and profitability. Nowadays,
competition is increasing rapidly, so it is essential for organization to use creative and innovative
approaches such as name, logo, colour, tag lines in order to increase in number of consumers and
escalate market share.
Competitive advantage: As per the prevailing trend, it is essential for business entities
to differentiate themselves in order to sustain at competitive market place. Brand demonstrate the
culture, identity of overall company that works as a point of difference for consumers. There are
various other competitors of Dyson present at market place such as Samsung electronics, Bosch
and many more (Schaufelberger and Holm, 2017). Branding practices will help marketing
managers of company to create a difference in their products. It will help them to grow and
sustain at competitive market place for a longer period of time.. It is monitored that organization
should adopt brand extension strategy in which they can offer new products to target audience
under the same brand name. It assist them to take advantage of their existing brand value at
market place and simultaneously increase the profit margins
Above discussion emphasis on the importance of branding function in the current
scenario. It has been analysed that in order to create preferences among consumers, earn higher
profits, it is essential to formulate efficient brand strategies.
P2) Analyse the key components of a successful brand strategy for building and managing brand
equity
Brand equity is the premium value that is generated by recognized products. There are some
crucial products and services that lead to creation of premium value. In case of Dyson it is
necessary to manage the brand equity that is that posses a direct impact on productivity and