Brand Management of Amazon and Ebay : Report
Added on -2020-07-22
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Brand Management
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1P1 The importance of branding as a marketing tool and its need in any business......................1P2 Key components of a successful brand strategy for building and managing brand equity...2P3 Different strategies of portfolio management, brand hierarchies..........................................5and brand equity management...................................................................................................5Hence , we can say that the hybrid architectural model is used by Amazon and Ebay, wherethey have their sub-brand name associated with the corporate name in some cases andsome sub-brands are independent...........................................................................................8P4 Management of brands both collaboratively and in partnership at a domestic and global level.....................................................................................................................................................8P5 Different types of techniques for measuring and managing brand value...........................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONBrand is the thing which creates impression in the mind of people. In this era, everyonewants to have branded products only. This will help them to stand out at any place wherever theygo. To satisfy the customers , the company has responsibility to serve the best to them. Only awell known brand is able to attract more and more customers . Hence, for any company , thebrand management is of utmost importance. With the help of this, the company can establish agood market to attain more and more benefit. The managers has to consider the needs ofcustomers while taking any decision. They has to consider all the aspects related to thecustomer's brand association and the relationship to grab the eyes of customers. To explain themanagement policy to create a brand image , two companies, Amazon and Ebay are taken intoconsideration.P1 The importance of branding as a marketing tool and its need in any businessBrand is an identifying mark to distinguish a product manufactured by particularcompany to put an image in the mind of customers. For example: take an example of companyAmazon. It has established its brand image in such a way that if anyone wants to do onlineshopping, they mostly try to turn around this company only. It is important to note that the products are manufactured by the company and can bepurchased with the help of money exchange but , these are the consumers who makes the brandsthrough their perception, expectation and the experiences .Hence, a brand can be defined asmarketing practice to differentiate one business or products from the another. Logo is a tool to communicate and represent the brand as and when the customers look atthe symbol. The process of creating the brand name and let it known to the maximum number ofpeople is refereed as branding. Similarly , the brand equity is defined as the value of having abrand name well-known to the customers. It can be defined as the commercial value that can begenerated from the brand recognition. The people are spending for the sake of name itself.Looking at the logo only, the people purchase the things. The process of branding and brandequity are interrelated to each other (Vigneron and et.al., 2017). Branding is an important marketing tool. It is done to grab the target market with the helpof establishment of product credibility while serving the customers according to their needs . Ithelps to create a loyal base for the customers to connect with them emotionally. With the help ofthis, more people will get aware about the products and their qualities and wish to buy the same.1
This marketing practice will help to build the brand equity. In this era, where the customers areinternet savvy , marketing communication is very helpful to have a proper understand of thecustomers need. With the help of customers interaction, the marketers get to know the presentstate of brand awareness and brand image and can proceed further accordingly to full-fill theneeds of customers to establish as a top most brand. In this way , branding serves as a base toconnect more customers to avail the benefits (Kernstock and et.al., 2017). Today every marketing strategy put emphasis on branding, since it is useful to attachwith more buyers. Branding helps to increase band recognition, trust and financial value. It helpsto inspire the employees by generating new customers. Just looking at a brand logo customer buythe products which is very helpful for the growth of any business. In this way, we can say that tograb the attention of target market , it is important to implement branding as a market strategy.P2 Key components of a successful brand strategy for building and managing brand equityTo maintain a brand image, it is important to consider the key components while buildingthe strategy for it. Some of them are: the purpose behind brand building, consistency, emotions,flexibility, employee involvement, loyalty, competitive awareness ,use of social media anddigital marketing. One has to plan the strategy according to it to establish as a strong brand.Strong brand is known for its uniqueness of products and services, superior qualityproducts, consistency in delivery and good feedback from the customers, which the Amazon isgetting. The weak brands like Ebay , which is again an online service providing company asAmazon, is not able to attach with more customers due to the less number of product ranges anddifficulty of exchange services for the products been delivered (Renton and et.al., 2017).To manage brand equity, it is important to do such kind of work which speaks for itself.To explain the stages to develop any brand , the CBBE (Customer -based brand equity) model istaken into account. It is used to establish a strong brand.2
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