Brand Management: Strategies for Building and Managing Brand Equity

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Importance of branding as a marketing tool......................................................................3
M1 Evaluate how brands are managed successfully over time using application of appropriate
theories, models and concepts................................................................................................5
P2 Key components of a successful brand strategy for building and managing brand equity5
M2 Apply appropriate and validated examples within an organisational context.................7
TASK 2............................................................................................................................................8
P3 Different strategies of portfolio management, brand hierarchy and brand equity
management............................................................................................................................8
M3 Critically analyse portfolio management, brand hierarchies and brand equity using
appropriate theories, models and frameworks......................................................................11
TASK 3..........................................................................................................................................11
P4 Evaluate how brands are managed collaboratively and in partnership both at a domestic
and global level.....................................................................................................................11
M4 Critically evaluate the use of different techniques used to leverage and extend brands.12
TASK 4..........................................................................................................................................13
P5 Evaluate different types of techniques for measuring and managing brand value using
specific organisational examples..........................................................................................13
M5 Critically evaluate application of techniques for measuring and managing brand value in
relation to developing a strong and enduring brand.............................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Brand management is seen as the effective incorporation of marketing functions in such a
manner that enhances value of the product for the customers (Agante and Pascoal, 2019).
Adoption of effective marketing activities allows company in developing their strong image at
marketplace which further supports them in increasing number of its loyal customers. Brand
management allows business enterprises in grabbing higher number of opportunities that
ultimately results in higher profitability at marketplace (Arbouw, Ballantine and Ozanne, 2019).
The present report is based on Bentley Motors Limited, a UK based British manufacturers and
marketer of luxury cars. The respective company was established in the year 1919 and
headquartered in Crewe, England, United Kingdom (THE BENTLEY STORY, 2019). This
report will provide description about core concept of brand management, its importance as a
marketing tool. It will later on explain about portfolio management, brand hierarchy, brand
equity management and how all these supports in developing effective brand. Furthermore, it
will provide explanation on brand extension and leverage at domestic as well as international
level. In the last section of project, different techniques used for managing and measuring brand
value will be explained.
TASK 1
P1 Importance of branding as a marketing tool
Branding is also identified as an effective marketing practice which allows business
enterprises in creating their strong brand value at marketplace. This includes uses of promotional
techniques, symbols, logo, designs, packaging, brand name etc. in such a manner that is
supportive in influencing interest of customers towards them (Ashill, Semaan and Williams,
2019). This is also supportive in creating demand of the company as well as its products at
marketplace that will result in the increase of sales performance of this company in rightful
manner. In respect of Bentley Motors Limited, the respective marketing manager of this
emphasises on using various marketing activities for managing their brand effectively at
marketplace. This is because, they believes that branding is an marketing tool which will bring
quicker success to them. In this regard, importance of branding as a marketing tool has been
elaborated below:

 Brand enhances recognition: Usage of attractive and unique logo allows businesses like
Bentley Motors Limited in raising its brand recognition at marketplace. It can be said that
selection of meaningful and unique logo places stronger impression on customers
mindset. This influences them to recognise the same brand with its Logo whenever they
comes in contact with it.
 Generates new customers: Another importance of branding for Bentley Motors Limited
is that it creates more number of customers for the respective company. This usually
happens when people are aware about the brand name, its products, quality of services
etc. This directly enhances their trust over the same (Aziz and Ngah, 2019). This simply
states that branding is an effective marketing tool which is supportive for firm in
influencing interest of customers towards them. Along with this, it also develops their
loyalty among customers towards the same brand.
 Raises satisfaction level of employees: Business which uses effective and valuable
marketing activities in terms of branding also contributes in developing pride among
employees (Batt and Bruhn, 2019). This is because, employees know that they are
working for trustable company which is popular at marketplace. This directly results in
the enhancement of satisfaction level of employees.
Perception and view point of individual is continuously changing towards the brand with
the passing time. This generally happens because business enterprises adopts range of marketing
activities that leads to higher business growth of the company in rightful manner. In addition to
this, it can be said that branding is changing for the business enterprises as its business managers
are perceiving it in a different manner. In order to use branding in rightful manner, it is essential
for manager to develop their understanding as well as knowledge on it so that they can tackle
various business situation and attain higher profits. In context of Bentley Motors Limited, the
respective manager of this company ensures to make use of branding in various organisational
context. Few examples of this are described as below:
 Marketing head of Bentley Motors Limited prefers to conduct market analysis and
detailed market research with the existing presence market zone in order to order to
identify different needs and requirements of customers so that they can incorporate all of
the information in their newly developed products (Bhattacharya, Kumar and Dutta,
2019).