Brand Management Study Guide

The provided document is a study guide on brand management, covering various topics such as brand personality, corporate social responsibility, and brand commitment. It includes references to research papers and articles from journals like the European Journal of Marketing, Journal of Brand Management, and Strategic HR Review. The study guide also mentions online resources for brand management, making it a comprehensive guide for students and professionals in the field.

BRAND - MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
SECTION 1......................................................................................................................................1
P 1. Importance of branding as a marketing tool and the way it has emerged in business
practice........................................................................................................................................1
P 2. Key components of a successful brand image building and managing brand equity..........3
SECTION 2......................................................................................................................................5
P 3. Different strategies of portfolio management, brand hierarchy and equity management ...5
P 4. Management of brands in collaboratively and in partnership..............................................7
P 5. Different types of techniques for measuring and managing brand value............................8
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Brand management can be simply referred as the procedure of analysing and planning
that how a brand can perceive in marketing location. One of the most important components of
this process is generating and maintaining positive or healthy relationship with the consumers. It
is an accumulation of different tangible and intangible factors. Some of the elements that fall
under tangible elements are packaging, costing and physical appearance of a product (Spence
and Hamzaoui Essoussi, 2010). On the other hand, experience of a consumer that creates after
using good brands products of an organisation and their relations with that brand comes under
intangible components. One of the key benefits of effective brand management is that it assists in
capturing a vast area of market and marketing shares as well. Thus, as a result it in increment of
the venture. The present report is based on a famous brand that is Coco – Cola. It is an American
international beverage firm, retailer and creator or manufacturer of non – alcoholic beverages. In
this project, the significance of brand is described in terms of marketing tool.
SECTION 1
P 1. Importance of branding as a marketing tool and the way it has emerged in business practice
Brand establishment is a conception which has taken more crucial place in the business
world now a days. Each and every venture is working towards making their brand more
innovative and effectual so that they can seek attention of a large number of users rapidly. In
addition to this, it also aids in establishing a relevant and unique presence in the corporate world.
This is also aiding employers in examining the tastes and preferences of customers and thinking
towards goods and services that are being offered by them.
This assists the clients in searching products and commodities of their taste or choice and
according to their necessity and demands. In present competitor-y business surroundings, it is
very essential for every firm to create and keep a positive brand image in front of all targeted
socio-economic class people. All this help organisation in capture a larger market share as
compared to its rivals (Story and Hess, 2010). This guarantees efficacious management of
products which give competitive benefits to the organisation. One of the leading advantages of
branding is that it offers a chance to venture to distinguish its production form other goods or
services existing in the market place. This in turn helps company in attracting more users and
also assisting in retaining them for a long period of time. Moreover, significance of branding as a
marketing tool can be better interpreted by below mentioned points:
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 Brand provide competing advantage: Each and every type of firm either it is a small,
moderate or big, needs satisfactory sum of resources in order to compete in industry and
for attaining its pre-set aim and objectives. Organization develops and applies several
plan of actions that provide details of specific measures and actions that are required to
be employed by the firm for achieving set targets of business (Vigneron and Johnson,
2017). When all these things are done in an effectual and accurate way then endeavour's
brand show its strategic planning. Furthermore, it also helps in promoting the
fundamental fields that assist firm in moving forward.
 Brand provide a stable assets: One of the key reasons why branding is essential is that it
remains identical and offers several long term profits to corporation. It could be possible
that products manufactured by any firm get failed in its motive or objectives. The
technology that company utilises do modification on a continuous basis, but an
impressive and powerful brand image remains always same and brings all of those
required alteration and maintain its branding image. Trademarks are known as one of the
most sustainable resources of each and every venture. When this allied with whole
scheme of business, it assists director in the process of decision making. Coming to the
case of Coca-Cola, it is the most famous brand that exists in this corporate world from
approx. more than 120 years but on the other hand, most valuable and fashionable brands
have existed for around 35 to 55 years.
 Brands provide economic value: Economic value of an organization is primarily
separated into two areas that are tangible and intangible assets. Brand is considered or fall
under an intangible resource. Brand name like Coca-Cola has a worth of around $67
million and from a report, it has been examined that more than 54% of stock value of
company is available in the market (Zarantonello and Schmitt, 2010). On the whole it can
be said that, brands is playing an eminent role in attracting talented personnel, business -
partners and consumers towards the products or services of corporation. Apart from this,
brands aid in cutting out the clutter of business activities of market, creating awareness
for firm and also assists in generating and developing healthy relationship with their
clients. Thus, it provides benefits in to Coco- Cola in terms of workers, suppliers and
customers which help them in reaching to their end goals effortlessly.
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 Brands set expectations: Branding is also known for the promises that are made by
specific organisation to its audience. Commitments of brand the target market about what
the company is, what company believe and the specific value which company offer.
Capability of fulfilling the promises is one of the factor that describes the attainments and
failures of an organization. When any firm get failed in fulfilling their promises then it
create bad representation of brand (Annie Jin, 2012). Different products of Coca-Cola
having specific characteristics like no sugar and calories free beverages aids them in
building a strong customer base. They are offering best quality goods and services to
their users which brings a positivity in their brand image.
It is noted that some people get confuse with the two terms that is products and brand but they
are two different terms and whose meaning is clarified below :
Brand Product
It is a unique and different term that reflects
the specific positioning of a product in market
place.
But it is referred as a set or collection of
various attributes that an organisation offers for
sale in the market for satisfying the
requirements of users.
It can not be copied by other companies. But it can be copied by another ventures as
they can manufacture same commodities that is
giving similar services.
Components of brand creates perceptions of
clients and is also intangible in nature.
On the contrary, they are tangible in nature.
P 2. Key components of a successful brand image building and managing brand equity
Brand equity can be defined as a commercial value of a brand that can be derived by
considering perceptual experience of the brand name of a specific commodity or service, in spite
of the products or service itself (Balmer, Liao and Wang, 2010). Thus, in order to maintain brand
equity, companies requires to manufacture better qualities products and services to their potential
consumers groups. For example, all the users of Coco – Cola are enjoying by drinking their cold
drinks. Therefore, as a result, they are managing brand equity in actual terms as they are
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fulfilling all the demands of their clients. There exits some essential components for building
strong or successful brand image and managing brand equity. Some of them are stated below : Brand awareness : This is one of the key element associated with brand that is used for
influencing large number of users towards their offerings and deliverables. In order to
make a brand prosperous, it is important that all clients should be aware about the
products or services offered by the corporations (Baumgarth, 2010). For example, Coco –
Cola is most famous brand that is serving in almost all of the regions and now a days,
each and every people even a child is being familiar with their goods and services. .
Different elements are in the organisation which render the competitive edge to the
company which ad in the managements of effective brand image in the marketplace. Perceived products Quality : The factors determines what a consumer think about the
produced commodity of an organisation and the quality that an organisation render to
their clients. In the recent time, there are numerous number of consumer and individual
which use the products of Coca-Cola. The major elements is good and effective quality f
products that attracts the clients to their company which at the same time avail
organisation portrayal of good recognition and brand image in the competitive market
which is the cause why consumer purchase the products of company. Brand Association : This is linked with logos, symbols and punch lines of organisation
used for portraying a unique brand image among consumer so that clients would easily
recognise and identify the brand in rush of other firms. This is very essential in business
world which helps in creating positive image of organisation among consumer. Basically
the association of brand are the main features which come in minds while need of
products as a quick response (Bergkvist and Bech-Larsen, 2010). Brand association are
structure on the grounds of quality, advertisements, price, consumer contact, quality of
products with Coca-Cola and many other firms. Brand Loyalty : It can be elaborated as the consumer's positive perception and credibility
level in regard of brand while making a purchase of specific products and services.
Basically, this refer to the dedication of consumer while making a purchase decision from
an organisation while there are other substitutes available in the market. As the company,
Coca-Cola offer various types of products and services that help in gaining the attention
of buyer. Due to the cause of globalisation, various organisation are also introducing their
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business in the same sector that is creating various challenges and issues for company.
Major problem that company faces are mentioned as below: Coca-Cola Low Performance Calories : In nowadays, people and governments of nation
are promoting and supporting those commodities that contribute the individual health and
do not harm. For this, state first experiment and check the product and later they approve
the organisation's product (Braun, Kavaratzis and Zenker, 2013). Coca-Cola manufacture
and render low drink calories that aid in attracting consumer number and helps in
increasing the loyalty of brand. Build Brand : Each firm require qualified worker to bring out their activities as well as to
satisfy the consumer requirement. Furthermore, this aid organisation in manage and
create good relation with clients. Developing Performance of Market : As Coca-Cola is generating in large competitive
environment in that various rivals which are remaining like Pepsi Co that product wide
range of products in same line of product that have made hard for organisation to sustain
in the competitive marketplace.
 Wellness and Health Tends : Coca-Cola render wide juices range and other drinking
elements that aid in gaining the benefits of organisation. For meeting these objectives and
goals, this is essential for organisation to utilise the material of effective quality.
SECTION 2
P 3. Different strategies of portfolio management, brand hierarchy and equity management
Brand management is also helps in generating and retaining better connection between the
clients and products delivered by company for long time period. In turn, sales rate of firm
increases drastically which ultimately supports in gaining large sum of profitability as well as
capturing more and more market shares (Burmann and König, 2011). But in order to do the
same, it is necessary to maintain brand equity because via its maintenance, company can full fill
all of their promises that they have made to the audience before launching goods or services.
Brand portfolio strategy
When big corporations used to operate more than one brands, firms and services, strategy of
brand portfolio management comes into picture. In this case, company encompasses all such
actions under single umbrella. For example, Coco – Cola used to offer several types of goods
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like Maaza, Sprite, Thumps up, Fanta and many more. For this, effectual schemes are used by
the organisation that can better understand by the following terms :
Driving revenue and profit growth : In this, company concentrates for designing their
products more unique and featured in order to seek attention of more and more people. This as
a result creates positive picture of brand in marketplace and at the same time, it also aids in
keeping on clients for long time.
More efficiency : Several kinds of tools and techniques can be used by corporation so that all
the business operations can be achieved efficiently (Freling and Forbes, 2013). This as a result
aids cited firm in offering deliverables at low prices.
Investment in business : Under this, organisation should increase its investment funds in their
different business activities. In addition to this, company should also concentrate on various
actions like promotional and advertisements. Through this, Coco – Cola can make aware large
number of citizens in UK.
Management hierarchy of Coco – Cola
Umbrella brand : This includes use of single brand for selling more than one products. This
can be utilised by Coco- Cola and they can easily enjoy positivity in context of brand equity. It
is some how different from brand extension because umbrella branding comprises of marketing
of same kind of goods under single name of brand.
Products : Coco – Cola offers several types of beverages that are Sprite, Fanta, Maaza , coco-
cola and many more. They are taking use of special and separate scheme for their each product
that ultimately aids them in capturing large market sharing.
Pepsi co :
Umbrella branding : Pepsi co is also taking use of this umbrella brand for selling its different
types of goods or services under one brand.
Products : Mountain dew, Tropicans and different other soft drinks are being manufactured by
them in the form of production (Gatti, Caruana and Snehota, 2012).
Brand equity : This defines those promises that they have made from their customers in terms
of deliverables. This adds values in its brand popularity.
CBBE model (Consumer based brand equity)
CBBE model assists company in managing brand equity in an effectual manner. This model
was proposed by sir Kevin Lane Keller. He said that brand is term that represent the feelings
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and perception of users that aids enterprise in providing shapes to their goods so that they can
meet the demands and need of its clients. Thereby , this inspires or promote users in purchasing
more and more offerings of firm.
Advantages of CBBE model
Brand identity : It includes recognition of particular feature of a brand in comparison to the
rivalries.
Brand meaning : This model also shows clear meaning of brand and it in turn aids in
minimising misinterpretation that occurs among consumers (Iglesias, Singh and Batista-Foguet,
2011). This assists in attaining pre-determined aims and objectives in effectual way.
Brand response : This shows response of users towards the production offered by cited
corporation and by this they can understand the way to earn more profits.
Brand resonance : This frame - work supports in creating positive image of venture in the eyes
of people in relation to its competitors.
P 4. Management of brands in collaboratively and in partnership
For making a brand successful, it is essential that it have to be famous or the offerings of
enterprise should be known by all civilians. In order make presence at market location, it is
necessary that company should increase their productivity level so that they can meet all the
requirements of their consumers.
Brand extensions
This technique is normally utilised by numerous of big firms for bringing faithfulness and trust
in - front of clients . This offers opportunities to users to buy products and services in
accordance to their needs and desires. Brand extension is carried out by venture for adding
something new or fresh to their brand so that they can compete within current industry. If
sometime this is not added in the production and advertisement then after some days, image of
brand get lost and also less recognised by consumers.
Coca - Cola and Pepsi both the brands are globally known in the eye of public.
Therefore, firms have to design plan of actions according to the tradition of clients (Kapferer,
2017). There are several goods of Coca-Cola that are gaining fame in abroad nations and not
best-known in country like India. Hence, enterprise should focus on making strategies in
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accordance to the request of users living there. Coco-Cola and Pepsi have to make effective
schemes to acquire new market and to earn more income or profits. Matrix is segmented as
follows:
Market development : This strategy tells that firm attempt to catch those sections of social
group that is not so far touched. Through this, corporation efforts to acquire chances of creating
new service or product for such new division. Investigation should be done in the marketplace
about the demand of those customers (Keller, Parameswaran and Jacob, 2011). There have to be
correct evaluation about requirements and desires so that it trim down the possibility of failure
in the industry.
Diversification : This scheme is different from left over three strategies. It states that there are
various methods that can be followed for knowing what next could be added in their production
for attracting large number of consumers. There is necessity of new skills and improvement in
order to carry out diversification. So, some of the funds are required for conducting surveys.
Market penetration : Market penetration is the process of knowing how much sales has been
finished by company of particular product. This can be explored by doing comparison of firm's
sales to overall sales. It aids in making new leads and in turn it enhances sales of the venture .
Organisation can formulate strategies where value or worth addition should be performed so
that it raise brand image also.
Product development : Various varieties of goods is known as product development. There is
bright expectation to examine what is the necessity of present-day scenario. But it needs
monetary value and time as well (Kunerth and Mosley, 2011). If there would delay in
implementing outcome that come from survey then will be possibility of occurrence of conflicts
in products or services due to alteration in the tastes and preferences of citizens.
These methods are advantageous for the development of organisation. Coca-Cola and
Pepsi are using such strategies time to time for knowing more market scope. It assist in doing
complete growth of the venture. As these companies are running their businesses internationally
and have a strong existence in the marketplace, thus they can utilise numerous of schemes for
analysing market. Hence, it can be said that there are several ways for doing technical
analysation in order to examine scope of development. Corporation can regenerate its product
and services as time passes it supports in growth and enlargement of firm.
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P 5. Different types of techniques for measuring and managing brand value
Almost every company in the business environment faces lots of challenges and associated risks
in the competitive market place. It is their duty to consider these demands and needs so that
their customers remain satisfied and prefer their products always over the competitors goods.
This issue is not only faced by small organizations but by the big established brands. Coca -
Cola is the brand which is highly loved by the customers in the market and therefore, they are
enjoying high market share from last years (M'zungu, Merrilees and Miller, 2010). There are
also many other brands who are giving tough competition to these brands. So it is necessary that
every business measures their brand value in the market place frequently so that they come to
know their current market situation and at position they are standing and competing with.
Basically, there are two aspects through which need for brand measurement arises. Firstly,
when requirement of preparation of the financial reports emerge in the company. Secondly, the
product manager has to allocate purchasing price of the product etc.
Evaluation of different techniques used by the coca cola are:
Brand Measurement techniques - Various techniques are adopted by the company to measure
their brand value in the market place. This helps them to manage their brand accordingly which
involves any desired changes that may occur in response of the changing business environment.
The various techniques that are adopted by the coco- cola are:
Quantitative techniques - This process involves number of numerical representations and
scale questions so that proper summary can be made in the organization. Sub techniques that is
included in this are: brand image and brand awareness (Brand Management- Meaning and
Important Concepts. 2017).
Qualitative Techniques - It is assumed as a unstructured approach in which particular number
of customers are targetted and are interviewed in order to judge the brand value. Responses are
properly scanned and than judgement is made accordingly. In this other techniques are involved
like: experimental methods, free association and projective techniques etc.
Comparative Techniques - under this technique the customer's behaviour and reaction are
analysed to estimate the gains and benefits that arises from the strong establishment of brand
awareness (McDowell, 2011). The techniques include important approaches that are; marketing
based comparative approach and brand based comparative approach.
For Coca - Cola For Pepsi
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It is considered one of the most established and
recognized brand in beverage companies that is
why it is reviewed among the largest cold
drink company. Hence they have to apply
various marketing strategies to keep in pace
with the changing market.
The various other methods adopted by the
coco- cola are:
Brand Awareness - It is included in the
qualitative research process in which the firm
manages their brand image in the minds of
their prospective buyers, so that they can be
identified at anytime and at anywhere.
Pepsi is also one of the top most beverage
company who is performing well in their
industry. Hence, they are creating environment
of difficult competition in the market place.
They use techniques like :
Brand Based Comparative approach - under
this approach customers are properly examined
how they are reacting towards the new
products of the same company (Qian, 2014).
Pepsi, 7up, Tropicana are some of the Pepsi
products.
Brand equity audit and Tracking Techniques-
Brand audit is performed to examine the current position of the brand in the market place. It is
assumed that every company will conduct brand audit. Under this following elements are
included which includes:
Strengths and weaknesses - under this market share of both the beverage companies is
discussed.
Market context - In this, Coca- Cola and Pepsi identify various components that have a huge
impact which may be in negative or positive form.
Brand equity Description- In this, company consider how the customers outlook their brand and
their feelings associated to it (Smith, Smith and Wang, 2010).
Competitive tactics and Strategies - under this area, auditing is performed to give a clear view
of the tactics and policies of coca- cola and Pepsi. Competitors strategy are also taken into
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consideration.
Brand Tracking – It is the process to measure the brand development with some associated
variables like- attitudes, preferences, awareness, perceptions, usage, considerations etc
(.Solomon, 2014). Their main objective is to track the customer satisfaction and behaviour.
CONCLUSION
From the above based report it can be concluded that brand management is very
important for each and every firm as this helps in attracting large number of users and also
making long term relationship with them. Generally, management of brand is a special function
of marketing where in company uses particular tools and techniques so that increment in
perceived values of goods can be attained. For example, Coco – Cola and Pepsi are two famous
international brand which are offering several types of beverages to their targeted customers.
Both of them are using different tools and techniques in order to make their brand image more
powerful and gain brand equity also. The major factors of an effective brand strategies is
explained in detail in this assignment. Apart from this, several strategies of portfolio
management has also been described in this report.
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REFERENCES
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Smith, K. T., Smith, M. and Wang, K., 2010. Does brand management of corporate reputation
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Online
Brand Management- Meaning and Important Concepts. 2017. [Online]. Available through:
<http://www.managementstudyguide.com/brand-management.htm>.
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