Brand Management Solved Assignment - (Doc)

BRAND MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
Importance of branding as a marketing tool and why and how it has emerged in business
practice........................................................................................................................................1
Evaluating how brands are managed successfully over time using application of appropriate
theories, models and concepts.....................................................................................................2
Key components of a successful brand strategy for building and managing brand equity.........4
LO 2.................................................................................................................................................5
Different strategies of portfolio management, brand hierarchy and brand equity management.5
LO 3.................................................................................................................................................6
Evaluating the use of different techniques used to leverage and extend brands.........................6
LO 4.................................................................................................................................................8
Different types of techniques for measuring and managing brand value in Bentley Motors
Limited........................................................................................................................................8
Application of techniques for measuring and managing brand value for developing a strong
and enduring brand......................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Brand Management is the planning and analysis on how an organization or its brand is
perceived in the market and is the process of maintaining, improving and preserving it to the
name associate with positive results (Keller, Parameswaran and Jacob, 2011). It involves self-
important aspects like cost, customer satisfaction, store presentation and competition and is built
on marketing and promotion foundation and focuses brand directly and its favourable existence
to consumers. Brand management is the function of the marketing that will be used in techniques
in terms to enhance the perceived value of product line or brand over the time. Thus, effective
brand management will be assistive in order to attract the loyal customers with the use of
positive brand association and images or a strong awareness of the brand in market. In this, it can
be said that brand has powerful influence in the mind of the customers and it can affect the
overall working in the enterprise in the positive aspects. With the help of strong brand it will be
possible to differentiate the firms products from its competitors so it will be helpful to establish
the brand in market and the competitive advantage can be achieved. Thus, brand will be
inclusive of the number of the factors as price, packaging, logo, associated colours etc. this all
kind of the feature has to be implemented in order to grab the attention of the customers.
Furthermore, it can be said that brand management will be consisting of creating the brand and it
helps to enhance its value. The informal report prepared on Brand Management will elucidate the
importance of understanding and achieving effective management of brand. It is prepared in
context of Bentley Motors Limited which is a British manufacturer of luxury auto mobiles and a
subsidiary of Volkswagen AG founded in 1919.
It is a part of Volkswagen Group which has acquired company in 1998. It was founded
by H.M Bentley and W.O Bentley. Firm had produced 9107 vehicles in 2012 which were just
7593 in 2011. Net income in 2011 was €8 million in 2011 and employees were 3600 in the year
2013. The assessment will explain the portfolio organising, brand hierarchy building and
managing strategies of Bentley Motors Limited. It will also discuss the types of techniques
applied by Bentley for measuring and managing their brand value. The report will suggest
Bentley Motors Limited with strategies and brand managing activities to strengthen their brand
and increase market share successfully. In this report, strategic plan must be implement in order
to maintain the brand equity or to gain brand values and this all will be requires in terms to
comprehensive understanding of the brand, its target market and overall vision of the enterprise
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so that all things can be undertaken in much more effective manner. Branding is important for
Bentley Motors Limited as it increases company's value. Moreover, it provides direction to
employees and motivates them for achieving group goals in the best manner possible.
Furthermore, it is important as it easily helps to acquire new customers in effective manner.
LO 1
Importance of branding as a marketing tool and why and how it has emerged in business practice
Branding is a complex marketing term in rising competitive business environment which
is a perception in the minds of consumers when hearing the name of a company, services or
products rendered etc. and is legally termed as trademark. Centuries ago it was just defined as a
name, slogan, sign and symbol or combination of all these to distinguish one product or service
from another which leaves a mental picture of brand's identity. This process began with ancient
Egyptians who were engaged in livestock branding to differentiate one's cattle from another's by
burning animal's skin with a distinctive symbol (Hanna and Rowley, 2011). Branding in 21st
century emerged as a business practice with rise of various brands to mean strategic personality
of a product or for company that suggests values and promises that a customer perceives to
purchase it. Branding has a significant role in creating wealth, enabling spending and economic
growth for individuals and organizations and are significant for technological, medical and
humanitarian development. It is followed by humanitarian organizations like UNICEF for
spreading message of service of work in developing countries are not only used by profit making
firms.
Branding is an important marketing practice that helps in clearly delivering a message,
motivate buyer to make purchase, render credibility of brand in-market and emotionally connect
with target prospects (Spence and Hamzaoui Essoussi, 2010). Branding helps an organization or
brand to grow and develop reputation that will easily establish the business and help in
generating future business by increasing value. Strategic professional branding will assist in
building employee pride, satisfaction and help in reinforcing strength of the brand which will
render support in developing trust with customers, potential prospects, suppliers and
stakeholders. Customer loyalty gain, attained through a trust and belief that products from brands
that are intensively marketed would always perform better is the major importance and benefit of
branding that will attract potential clients with increased revenues and shares. Branding as a
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