Brand Management: Strategies and Importance

This document provides an overview of brand management and its importance in marketing. It discusses the emergence of branding in business practice and the role of brand strategy in building and managing brand equity. It also analyzes different strategies of portfolio management, brand hierarchy, and brand equity management. The document focuses on the case of Marks and Spencer, a retail company, and provides insights into how brands are managed collaboratively and in partnership at both domestic and global levels.

Brand Management
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Table of Contents
INTRODUCTION...........................................................................................................................................3
TASK1...........................................................................................................................................................3
P1 Describe Branding as a Marketing Tool and its importance along with emergence of branding in
business practice.....................................................................................................................................3
P2 Role of Brand Strategy in building and managing Brand Equity .........................................................4
TASK2...........................................................................................................................................................5
P3 Analyse the different strategies of portfolio management, brand hierarchy and brand equity
management...........................................................................................................................................5
TASK3...........................................................................................................................................................7
P4 Determine how brands are managed collaboratively and in partnership in context of domestic and
global level. .............................................................................................................................................7
TASK4...........................................................................................................................................................9
P5 Identify and evaluate different types of techniques which company can use in order to measure
and manage its brand value in the marketplace......................................................................................9
CONCLUSION.............................................................................................................................................10
REFERENCES..............................................................................................................................................11
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INTRODUCTION
In marketing, brand management is characterize as the cycle where different procedures and
techniques are utilized to build the estimation of items or administrations of the organization
(Som and Blanckaert, 2015). Additionally the successful brand the executives helps in upgrading
the market notoriety of the organization and builds the quantity of faithful clients. Marking helps
in figuring solid consciousness of the items and administrations of the organization and with the
assistance of legitimate brand the executives organization attempts to keep up its image picture
in commercial center. The report is based on Marks and Spencer. The organization is managing
in retail area essentially in apparel, home items and food items. It was set up in year 1884 in UK
by Michael Marks and Thomas Spencer. The themes shrouded in the report are significance of
brand, brand methodology and the board of brand value. Various systems of portfolio the
executives and brand order utilized by organization.
TASK1
P1 Describe Branding as a Marketing Tool and its importance along with emergence of branding
in business practice
Marking is important for coordinated advertising correspondence in which an organization
separate its items and fabricates a remarkable selling suggestion. It is a psychological picture or a
client saw esteem framed by its client (Leijerholt, Chapleo and O’Sullivan, 2019).
Importance of marking as a Marketing device
Marking is significant for building an impression in the psyches of individuals and telling
its clients who they are as a business. It incorporates publicizing, special instruments and
procedures, logo, and generosity of an organization for building up a brand position. Following
are the significance of marking
1.Builds an extraordinary Image of an organization- Branding is one of the basic angle for
building a noteworthy picture of an organization. It helps in separating an item from comparative
items. A one of a kind personality of an organization gives brand acknowledgment on the
lookout and aides in building up a situation in its objective commercial center. Accordingly, it
helps in building a solid brand in its objective commercial center and expands benefit with future
business openings.
2.Generates new client- Branding sets a position and creates new clients for an organization. A
settled brand helps in pulling in new clients because of its positive picture in the commercial
center. Clients become constant of a solid brand when their requirements are fulfilled in more
than its desires. This aides in creating new clients because of positive verbal exchange by its
current clients.
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3.Builds Trust in a commercial center- Trust is a significant factor in building associations with
clients. Marking helps in picking up and assembling trust for an organization as it conveys data
about the organization and its item. This prompts framing unwavering quality and
trustworthiness on an organization. In the end, it fabricates client dependability for an
organization (Phau and et.al., 2014).
4.Enhances worker fulfillment- A settled brand helps in improving representative fulfillment in
an organization. A solid brand gives fulfillment just as a feeling of belongingness to
representatives. This relationship with a rumored brand helps in accomplishing satisfaction and
pride among its representatives. In this way, brands helps in expanding work fulfillment and
constructs excited representatives.
Emergence of branding in businesses
Branding assumed a significant function throughout the entire existence of strategic policies.
Branding had consistently had the option to recognize items, domesticated animals and
individuals (Borges‐Tiago and et.al., 2020). It helped in speaking to and recognizing number of
things and individuals previously. In business marking arose because of the requirement for
building a character if there should arise an occurrence of comparative items. Organizations
needed to build up its image for differentiating their items with other accessible organizations in
an industry. It is accomplished with the assistance of relationship of a name and image to the
business. Consequently, it gave a personality and situating to organizations in a commercial
center. At that point, it began advancing with the assistance of pertinent and valuable data about
the item. At last, it gets obligatory in enlisting of organizations by the public authority because of
its apparent significance on the lookout. Likewise for separating and giving personality to a
business it is important to set a brand with a name, image, plan, marking and slogan.
Consequently, marking arose and developed in a business opportunity for spreading mindfulness
and discussing significant data with its clients.
P2 Role of Brand Strategy in building and managing Brand Equity
Brand strategy is a drawn out arrangement or a plan for future activities and gives guidance in
building a picture apparent by the crowd. It helps in outlining procedure for separating itself
from its opposition. It likewise helps in building solid picture and attributes of an organization,
for example, character, qualities, targets and feelings for better imparting its motivation and
message to the world. It includes factors, for example, rivalry, purchaser interest and passionate
interface with the brand.
Mission Statement- Brand reason can be set up from statement of purpose of an organization.
Reason for an organization is significant for conveying its messages to the intended interest
group. Organization utilizes its statement of purpose for building and managing brand technique
with a reason to accomplish. Its center reason for existing is to make rousing quality available to
other people and turns into a hotspot for direction. Hence, it helps in building generally brand
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procedure for its powerful usage and accomplishing pre decided destinations and position in the
organization's objective market.
Vision- Vision statement helps in exploring a brand with its drawn out vision of an organization.
Organization has a dream to give a norm against which its rivals might be estimated, from client
experience, to think about the climate and network and to the workplace for representatives.
Value- Value of an organization reflects in the work culture and turns into a main impetus in
channelizing results. Imprints and Spencer is based on basic beliefs of value, development,
honesty and trust. Hence, expressing and utilization of basic beliefs by Marks and Spencer has
helped in building its center picture according to its rehearsing of qualities. It encourages the
organization to show its clients a big motivator for organization and in creation significant choice
(Mitchell, Hutchinson and Quinn, 2013).
Target audience- Target customers helps in breaking down their necessities and needs in a
powerful way. It additionally gives situating in the marketplace. Organization has been outlining
its procedures with well thinking about its intended interest groups. It is finished with the
assistance of shaping profile for its objective clients. It incorporates segment factors, their
objectives and goals and personal conduct standards. This aides in serving them with
extraordinary fulfillment and understanding their attributes, for example, character, enthusiastic
tendencies and purchasing conduct and so on.
Market analysis- Market analysis is one of the basic angle in situating of a brand in a market.
Because of the presence of rivals in an industry, market examination has gotten fundamental for
enduring and accomplishing its goals. Consequently for creating viable brand procedure it is
critical to break down serious commercial center. Organization has been exceptionally touchy
towards its opposition activities. It explores its miniature climate and examine with the assistance
of apparatuses and strategies.
In this manner, all the above key parts of brand system has helped in creating and overseeing
brand value in an organization. Imprints and Spencer has had the option to accomplish its image
value with thinking about all the vital segments for building up effective brand procedure. It has
zeroed in significantly on building and conveying brand reason, character and trademarks for
pulling in its intended interest groups and in creating extraordinary brand value
(Anagnostopoulos and et.al., 2018).
TASK2
P3 Analyse the different strategies of portfolio management, brand hierarchy and brand equity
management.
Portfolios the executives is characterize as the cycle where the board is capable to take
choices with respect to speculation strategy, allotment of assets, the board of resources, hazard
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the executives and some more. Brand the executives is the promoting capacity where different
methodologies and strategies are been utilized by organization for chose length of time to build
the brand mindfulness.
Brand Portfolio Strategy
Brand portfolio system assumes significant part in overseeing brand value of the organization
where on the bases of number of market fragments the brand line is resolved. Each association
has various procedures and exercises to make their image in commercial center. Organizations
who can oversee and utilize it assets and methodologies in appropriate manner then they will
pick up advantage that can improve their image picture in the commercial center. In setting of
Marks and Spenser they are utilizing their image name alongside slogan "spend it well" to make
its potential clients mindful about its items and administrations. To make its image the
predominant one they have received different techniques and systems which are clarified
underneath (Rahman, Rodríguez-Serrano and Lambkin, 2018).
•Active portfolio -The board It is the best system which is been utilized by the proprietors or
workers at high experts in the definition and usage of different strategies. Essentially they are the
person who face challenge for organization with the rationale to give want results. Generally this
methodologies is been embraced and utilized by the organizations who are working everywhere
scale and has enormous piece of the overall industry. In setting of Marks and Spenser they can
utilize this methodology to give extreme rivalry to its rivals and to expand its market presence
(Barrow and Mosley, 2011). Organization is managing in retail industry subsequently
confronting elevated level of rivalry in the commercial center.
•Passive portfolio- This is the advertising approach in which organization thinks about different
techniques and define procedures in which danger isn't include. These little advances help them
in upgrading their image picture in the commercial center. In setting of Marks and Spencer, is
strategy isn't suitable for them as they are working at worldwide level so need to face challenge
at different phases of business tasks.
Hierarchy Management of brands
In setting of Marks and Spencer the organization consider following routes in brand portfolios
model which is clarify underneath (Abbas, 2014).
•Branded properties-The brand directors of the organization make various methodologies to
focus on all the brand with the business tasks with the intention to build the brand mindfulness if
the organization and to expand the piece of the overall industry.
•Housing brand technique- This is the sort of marking methodology which is been utilized by
organization to advance its distinctive scope of items independently in the commercial center.
This system includes significant expense henceforth organization need to have wide scope of
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monetary sources to make clients mindful about its diverse item under various name that is
singular marking strategy. In setting of Marks and Spenser, the organization has different brand
under its image name that is blue harbor, indigo assortment, per una and some more.
Subsequently they can create various systems and actualize them to advance their individual
image assortment name which help in improving the general brand picture of the organization
and ready to build its deals.
Corporate marking- It is the most fitting system which is use by enormous brands as by the
utilization of this strategy the organization is been advanced as one element in the commercial
center. With the assistance of this technique Marks and Spenser would have the option to
improve the market execution so clients incline toward their image in contrast with different
contenders. Thus help them in expanding the deals and benefit volume (Hatch and Schultz,
2010).
Strategies for developing Brand equity
In setting of Marks and Spencer they can utilize the accompanying portray techniques and
procedures to build up its image value.
•Brand picture Marks and Spenser can embrace this system in its business activities to improve
and keep up its image picture. The organization can keep up its image picture as they are giving
quality items and administrations to its clients which is helping them in expanding its number of
steadfast clients .
•Innovation in its scope of items In setting of the Marks and Spenser they are utilizing different
procedures and techniques to make its item more creative and alluring to pick up the interest of
the clients. As organization is confronting high rivalry in commercial center so to hold its
situation in the commercial center they need to embrace the various techniques. It has ready to
pull in the clients by giving planner, in vogue materials with great quality to draw in them.
Statistical surveying is one of the main action for business association to give successful
outcomes. With the assistance of statistical surveying organization come to think about different
patterns and the systems of the contenders so they can think about it and can figure better
methodologies and techniques to give powerful outcomes (Eisingerich and Rubera, 2010).
TASK3
P4 Determine how brands are managed collaboratively and in partnership in context of domestic
and global level.
Brand extention is characterize as the strategy which associations utilizes to improve or make
expansion in its promoting systems with the thought process to starch its image name in
commercial center. The organization utilizes different strategies and procedures to comprehend
the market notoriety of the brand and the perspective of clients with respect to its items and
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administrations. Astoundingly know in the wake of breaking down different factor what they
need to make next stride to build its items request in the commercial center. It is a fundamental
cycle for each business association to make strides to upgrade its image esteem so it is ready to
build up the interest of clients towards there brand items and administrations (Melewar, Lim and
Baumgarth, 2010).
•Re-situating of the item- In setting of Marks and Spenser, the organization can utilize this
methodology in the event that when they can't sell its item in the commercial center. By
repositioning a similar item with various inventive and innovative strategy they can pull in
clients towards their items. Something it happens that the scope of few items are not liked a lot
by client so all things considered they can utilize various courses to deal that item, for example,
by giving markdown or vouchers on the item they can draw in the potential; clients.
•Franchising-In regard of Marks and Spencer, they utilize this technique to extend its business.
The organization is working at global level and by designating its image position to various
expected finance manager in various nations it is growing its business in various parts and
making individuals mindful about its image. In addition it has helped the organization in
expanding its benefits and piece of the pie as they can make individuals mindful about its image
and offering wide scope of items with great quality and at moderate costs. This technique give
advantage to the organization as they can give extreme rivalry to its rivals in the commercial
center.
Brand extension
Fit and influence properties offer incredible help to the organizations who are wanting to
actualize the brand augmentation. Essentially it helps in estimating the purchasing intensity of
the clients and their necessities and inclinations before they make next stride that is interest
during the time spent brand expansion. In setting of Marks and Spencer it has offered the
extraordinary help to the business as they have same logo, slogan and brand name which helped
in pulling in huge number of possible clients (Leibner and Henderson, 2013).
Brand collaboration and partnership
In setting of Marks and Spencer they are include in a few cooperation and association which has
help the organization in growing its business. The organization has begun its business from food
industry and later with the assistance of different coordinated efforts and association they can
enter in apparel industry, home basics and some more. The accomplices of the organization are
WHSmith which are in association with the organization from year 2012 and working with M&S
in food stores, Moto is been in association with M&S since 2004.
Global branding and positioning
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In setting of Marks and Spencer, the organization need to receive different techniques and
methodologies to set up its image name and gain position in commercial center at worldwide
level . With the assistance of different channels of advancement they will have the option to
draw in the enormous number of clients towards its items. In addition worldwide marking and
situating will help in detailing compelling picture of organization among its clients over the
globe.
TASK4
P5 Identify and evaluate different types of techniques which company can use in order to
measure and manage its brand value in the marketplace.
In setting of Marks and Spencer there are different brand the board methods which they can
receive to quantify its piece of the overall industry and increment brand mindfulness (Moretta
Tartaglione and et.al., 2019).
Brand Awareness
•Survey-With the reception of this strategy organization can make brand mindfulness among its
expected clients and come to think about the taste and inclinations of clients.
•Social Media showcasing- With the utilization of different social stage they can make its clients
mindful about its different offers and new assortment. As larger part of individuals invest there
energy on different online media stage so it will be the most suitable channel for them to connect
with its possible clients.
For example- Marks and Spencer is taking effective measures to increase brand awareness in
marketplace due to increasing level of competition. For this with the help of visual content on
various popular social media platform they are informing its target customers regarding offers
and new collection.
Market Share
•Market share constructing- The organization is making different strides to increase its piece of
the overall industry as by getting development and innovativeness its items they can pull in
enormous number of clients over the globe .
•Market share decrease Marks and Spencer can utilize this methodology as by offering items at
low cost than of different contenders it is ready to pick up support ability in its business activities
and can expand its deals (Datzira-Masip and Poluzzi, 2014).
For example- Marks & Spencer is focusing on increasing its market share by implementing
market share construction. Due to increase in level of competition they are focusing on providing
high quality products and serviced with new an d unique designs to attract more customers.
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Purchaser Attitude
•Customer fulfillment- By offering quality items at reasonable costs as indicated by the
necessities and inclinations of the clients they would have the option to expand its deals and
benefits. As fulfilled clients want to return to a similar spot to fulfill their requirements and needs
.
•Affordable costs- The organization is managing in different scope of items, for example, in
home fundamentals, attire, nourishment and some more. The essential rationale of the
organization is to give quality items at reasonable costs. This technique has helped the
organization in drawing in huge number of clients which lead to increment in deals and benefit
volume of the organization.
For example- Marks & Spencer is providing quality products at affordable prices in order to
attract customers and taking feedback in order to the quality and service they are providing so
that necessary change can be done.
Relation between branding and finance
Marking and money office inside the association are between related and between associated. In
setting of Marks and Spencer marking division need to take support from account office with
respect to distribution of spending plan so that likewise they can build up the different (Balmer,
2011).
Brand Value
Brand is the main piece of each business. As now a days numerous organizations burn through
large number of cash on advancing their image and making an item esteem. The more
organization will spend, the more clients will draw in towards them. Brand esteem is the
monetary sum that is appeared yet to be determined sheet. The more it is famous, the higher the
worth will be. Marks & Spencer is taking measures to enhance its brand value by providing
quality products and services at affordable prices. The company is using social media to make
people aware about its products and services in order to attract more customers.
CONCLUSION
From the above study it has been concluded that brand managmnet is one of the basic
component in the organization as it helps in expanding the piece of the overall industry. With the
assistance of compelling methodologies organization can make its position more grounded in
commercial center. Successful marking techniques helps in creation its potential clients mindful
about the items and administrations of the organization and aides in expanding the deals and
benefits.
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REFERENCES
Books & Journals
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understanding of internal brand management and brand architecture in the public
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case study of LVMH. Journal of Fashion Marketing and Management.
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brand management. Psychology & Marketing. 37(9). pp.1171-1184.
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sized (SME) retailers: A future research agenda. Journal of Marketing
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Anagnostopoulos, C. and et.al., 2018. Branding in pictures: using Instagram as a brand
management tool in professional team sport organisations. European Sport Management
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Rahman, M., Rodríguez-Serrano, M.Á. and Lambkin, M., 2018. Brand management efficiency
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investigation. Journal of International Marketing. 18(2). pp.64-79.
Melewar, T.C., Lim, L.L. and Baumgarth, C., 2010. “Living the brand”: brand orientation in the
business‐to‐business sector. European Journal of Marketing.
Leibner, D.P. and Henderson, J.A., 2013. Social media brand management. U.S. Patent
Application 13/431,094.
Moretta Tartaglione, A. and et.al., 2019. A systematic mapping study on customer loyalty and
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Datzira-Masip, J. and Poluzzi, A., 2014. Brand architecture management: The case of four tourist
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