Importance of Branding as a Marketing Tool and Brand Strategy for Building and Managing Brand Equity

Brand management

Table of Contents
INTRODUCTION................................................................................................................................3
TASK 1.................................................................................................................................................3
P1 Explain importance of branding as a marketing tool and why and how it has emerged in
business practice..............................................................................................................................3
P2 Discuss Key components of a successful brand strategy for building and managing brand
equity...............................................................................................................................................4
TASK 3.................................................................................................................................................6
P3 Analyse different strategies of portfolio management, brand hierarchy and brand equity
management.....................................................................................................................................6
TASK3 .................................................................................................................................................8
P4 How brands are managed collaboratively and in partnership both at a domestic and global
level..................................................................................................................................................8
TASK 4...............................................................................................................................................10
P5. Different types of techniques for measuring and managing brand value................................10
CONCLUSION...................................................................................................................................11
REFERENCES...................................................................................................................................12
Books & Journal:...........................................................................................................................12

INTRODUCTION
In business sector, it is important to market and perform branding of product so that
promotion is done at larger scale. Branding is defined as process of creating & developing design,
name, symbol, which is identified by others easily (Veloutsou, 2018). Maim aim of this report is to
understand the importance of brand management so that organisational activities are executed.
Burberry, a British fashion house headquartered in U.K. It distributes as well as design products
such as footwear, leather goods, fashion accessories etc. Enterprise is located globally & has wide
number of stores, employees worldwide. This report comprises of importance of branding as
marketing tool, key components of successful brand strategy, different strategies of portfolio
management, brands collaborations and different types of techniques for measuring & managing
brand value.
TASK 1
P1 Explain importance of branding as a marketing tool and why and how it has emerged in business
practice
In organisational sector, branding as well as marketing both are importance which gives a
competitive edge in business. It is necessary to use them so that goals are objectives are achieve in
appropriate way. In relation with Burberry, branding is used as marketing tool through which
company is able to enhance their recognition at international level which is beneficial for business
(Chow, 2017). Main purpose of this report is to increase goodwill of a company in market. Without
use of brand or branding, it is difficult for enterprise to survive in market for longer period of time.
Therefore, there are various importance of branding as a marketing tool which is further
explained below-
 Branding assist in recognition- Using branding as marketing tool assist in enhancing
recognition & goodwill of brand at larger scale. This is because customers are easily
attracted towards a brand name & purchasing is done accordingly. In relevance with selected
firm, they also do branding of company through social media, tools etc. Moreover, they are
well recognised globally and which helps them to carry out such marketing activities
properly (Liu, 2018).
 Generate new customers- It is another reason of using branding is marketing tool in which
it help in generating new customers to business by attracting through design, new features,
offers etc. In context of selected entity, generate new customers in market during their sales
peak period time. New & old customers both are important for company.

 Sets expectation- When branding is involved, it enterprise are required to fulfil expectation
of customers so that relationship remain stable. So, it is seen that it sets expectation &
which are to be examined by organisation.
 Build confidence- Through properly focusing on branding it improves & develop level of
confidence of enterprise to understand end users. Through higher confidence, strategies are
easily adapted & which results in carrying out activities & using of resources efficiently.
Branding as marketing tool-
 Increases goodwill- When branding is used in market, it help in increasing goodwill in
market of firm at higher level.
 Enhances profitability- Using branding as marketing tool leads to enhancing of
profitability at higher level. In relevance of selected entity, adopting of branding leads to
enhancing their profitability ratio.
Key components of successful brand strategy
 Understanding audience- It is important component in which it is crucial to understand the
audience of brand so that it is easy to implement strategy.
 Brand promise- This is another key element in which brand promise is needed to be
focused on basis of which firm need to deliver what they have promise so that brand
strategies are initiated at marketplace accordingly.
Branding has emerged in business practice with changing period of time & rise of
competition in apparel industry. Through focusing on this concept help businesses to make
decisions regarding functions, operations & activities in most effective way. Thus, it has been stated
that branding is most effective tool which is required to be used with proper market considerations
w& which leads to achieving of overall common desired goals. In this competitive era, it is
necessary to be different from others so that customers attracted towards a brand name. Concept of
branding is wider & broader which requires deep level of skills, expertise & knowledge. (Mills,
2019). The information related to branding of chosen company was collected through using
secondary source of information. Also, is analysed that selected firm has been evolving with
market & is improving their branding level in market through promoting & advertising In more
foreign countries. For example- In context of Burberrry, do promotion by social media platforms
such as Facebook, e-commerce websites such as Amazon, Alibaba etc. (Veloutsou, 2018).
P2 Discuss Key components of a successful brand strategy for building and managing brand equity
In marketing, brand equity refers to value of a brand which gives value to a brand. It is