Brand Management: Strategies for Building and Managing Brand Equity

Brand Management

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
P1 Importance of branding...........................................................................................................3
P2 Key components of a successful brand strategy for building and managing brand equity....5
LO2..................................................................................................................................................7
P3 Analyse different strategies of portfolio management, brand hierarchy and brand equity
management.................................................................................................................................7
LO3................................................................................................................................................10
P4 Brands managed collaboratively and in partnerships...........................................................10
LO4................................................................................................................................................12
P5 Techniques for measuring and managing the brand value...................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Branding is marketing process where firms tries to differentiate its company with other
competitor by using unique name, logo sign and symbols to enhances its sales and profitability.
This report explains about brand management of Apple that helps it in gaining competitive
market share in domestic and global market. Apple Inc. is American multinational technology
company that develops, designs and sells computer software, consumer electronics and online
services. This report covers importance of branding as marketing tool and why and how it has
emerged in business practices. It also analyses various key components of successful brand
strategy for building and managing brand equity. It analyses different strategies of portfolio
management, brand hierarchy and brand equity management. This report the way brands are
managed collaboratively and in partnership both at domestic and global level. At last this report
explains different types of techniques for measuring and managing brand value of company.
LO1
P1 Importance of branding
Branding is a useful marketing technique that is used by company in order to gain
competitive position in the market by using unique name or logo. It is important for any
company to have a brand name as it helps in identification of company by distinguishing it with
other competitors. Thus, branding helps in enhancing sales and profitability of company by
clarifying customers about quality that the company offer to its customers. Apple is able to gain
competitive advantages in global market as company focus was to build strong brand image by
providing quality products and services to its customers.
Branding increases Business value: Strong and well establish brand image helps in increasing
value of business as employees, customers, supplier and investor are aware of brand image of the
company. They are aware about quality of product and services, company give to its customers
to satisfy their needs in effective manner (Shabbir, Khan and Khan, 2017). For example: Apple
company has well-establish brand image give more leverage to company in industry thus helps in
increasing value of business in the market. Thus, it can be stated that strong brand image of
Apple helps in enhancing value of business and its sales and profitability.
Generates new customers: Strong brand image implies that company has created positive
impression in the mind of customers thus they like to purchase company product as compared to
another. As people are aware of quality of products that company offers it helps in generating

new customers. For example: Strong brand image of Apple helps in generating new customers
because of word of mouth promotion by its existing customer about the quality of product
company render. Thus, it can be stated that brand image of company not only attract existing
customers but helps in generating new customers in the market.
Improves employee satisfaction: Strong brand help in satisfying needs of employees, as they
are proud of working in such enterprise, which has well-establish name in market (Nyadzayo,
Matanda and Ewing, 2016). They enjoy working with such reputate company thus it helps in
increasing productivity and performance of employees. For Examples: Apple has a reputable
brand in the market that motivates employees to work effective for growth and expansion of
business. Employees of Apple have feeling of belongingness with company thus provide quality
services and products to its customers and helps in achievement of organisational goals.
Helps in advertisement: Brand helps in advertising company’s product and services by using
logo or name at the packaging or back of product. Unique logo or symbol helps in differentiating
company product from other competitors in the market. For example: Apple by using its logo at
the back of product is able to advertisement its existing product and helps in promoting new
product developed by company.
Helps in business expansion: Strong brand helps in expansion and growth of business in the
industry by using well-established brand image in the market. Company can use well-
established brand image to promote new product or to enter into new market. For Examples:
Apple is able to successfully launch its latest iPhone 11 Pro by use of establish brand image of
the company. Thus brand image of Apple helps in promotion of new launch product and
expansion of its business in the market.
Keller's Brand Equity Model
This model was developed by Kevin Lane Keller that explains that to build strong brand
image, company has to shape its customer thinking and feeling about its product. Apple uses
Keller's Brand equity model to build strong brand equity to retain its customer’s satisfaction and
loyalty. There are four steps that are followed by the company to build strong brand equity of
company:
Brand identity: In its first goal of company is to make aware customers about brand name of the
company by recognition and differentiating with other companies (Bapat, 2017). Company
aware about it by using social media such as Facebook, Instagram. Company also ensure positive