Brand Management: Importance, Strategies, and Success

BRAND MANAGEMENT

Contents
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P 1 Importance of branding for a marketing tool........................................................................3
P 2 Key components of a successful strategy of brand for building and managing equity of the
brand............................................................................................................................................5
M 1 How brands are managed successfully over time using application of appropriate theories,
models and concepts....................................................................................................................7
M 2 Appropriate and validated examples within an organizational context...............................7
LO 2.................................................................................................................................................7
P 3 Strategies of management of portfolio, hierarchy of brand and management of equity.......7
M 3 Analyze portfolio management, brand hierarchies and brand equity using appropriate
theories, models and frameworks................................................................................................9
LO 3...............................................................................................................................................10
P 4 How brands are managed collaboratively and in partnership both at a domestic and global
level............................................................................................................................................10
M 4 Evaluate the use of different techniques used to leverage and extend brands...................10
LO 4...............................................................................................................................................10
P 5 Techniques for measuring and managing the value of the brand........................................10
M 5 Evaluate application of techniques for measuring and managing brand value in relation to
developing a strong and enduring..............................................................................................12
D 1 Critical evaluation that is supported by justified evidence demonstrating a comprehensive
understanding of branding.........................................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................13

INTRODUCTION
Brand management is used to builds the loyalty of the consumers by positive brand association
as well as also has a positive brand association. Brand management plays a vital role in
maintaining reputation as well assuring people’s experience. Report Focuses on Dyson Ltd
which is a British technology firm established in the United Kingdom through Sir James Dyson
within the year 1991. It also designs as well as manufactures household appliances such as
vacuum cleaners, air purifiers ,bladeless fans ,lights, hair dryers and many more. Its headquarter
Malmesbury, United Kingdom. The brand management is to measure, build as well as control
brand equity. It deals alongside overall brand development right from the birth of the brand until the
time it ceases to exist. Present Report focuses on Importance of branding for a marketing tool,
Key components of a successful strategy of brand for building and managing equity of the brand,
Key components of a successful strategy of brand for building and managing equity of the brand,
Techniques for measuring and managing the value of the brand and many more.
LO 1
P 1 Importance of branding for a marketing tool
Branding is considered as that part of the company which is crucial as the reason behind
that is it helps the company to obtain more share in the market and leave an impact which helps
to influence the target audience. With the help of this right strategies will be used in order to
position the brand so that they can get more value. This way with the right positioning awareness
will also increase (Chinomona and Maziriri, 2017).
It helps to gain recognition-
Company considers branding very important because of it they have been able to enhance
their reach and serve more customers. It is necessary that focus of the company is on the logo of
the brand as it is the main aspect that leaves a mark and helps to gain recognition. It is because
basically it represents the brand as its face. This way it will work as something which is
remembered by the people so that they get repeated sales.
Value of the brand-

It is considered as important if the company is availing its scope into the market and
looking to expand their operations so that they can work on the opportunities which will benefit
them in future. Dyson is a establish brand which proves that they have more value in the market
as compared to their competitors or new entrants. This is the reason they have advantage over
other brands. This makes it easy for the brand to make their base into different markets which
increases the probability of rate of success.
Generate new customers-
Dyson is serving in the market for a long period of time which has helped them to gain
experience and they have learned what is helpful in order to influence the people. It is because of
the right strategies they have used for branding they have been able to earn the loyalty of their
customers. Dyson has been successful in establishing them as a brand which is the reason why
any another product launched under the name of Dyson will be an instant hit. There are many
reasons for it as they use methods of advertising that are most effective.
Satisfaction to Employees-
It is pretty normal that employees that have a job in a renowned company has a
different level of attitude and the reason behind that is they gain more respect in the eyes of other
people which makes them have pride on their job. This is the reason behind their level of
satisfaction. They feel that other than respect they have many other amenities which are provided
to them such as office for themselves, interaction with colleagues etc. employees are loyal to the
company and it is because they have helped them to develop their careers (Junior, 2018).
Trust in the market-
In order to present them in the market Dyson group has taken every step carefully so that
their brand is taken seriously that is why they present it in a very professional manner. This has
helped Dyson to earn the trust of their target audience. Consumers prefers those brands who has
presented themselves in a unique and professional manner. This is one of the reasons why Dyson
has been successful in bringing more customers for the company.
Advertising-