Brand Management Assignment

BRAND MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
SECTION 1......................................................................................................................................1
P1 Importance of branding as a marketing tool and how it has emerged in business practices. 1
P2 Discussing and analysing the key components of a successful brand strategy for managing
and building brand equity.......................................................................................................3
SECTION 2 .....................................................................................................................................5
P3 Analyse different strategies of portfolio management, brand hierarchy and brand equity
management............................................................................................................................5
P4 Brand management with collaboration and in partnership at domestic and global level10
P5 Different types of techniques to determine and manage the brand value.......................13
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Branding is crucial for Coca-Cola and Pepsi in order to maintain their brand value in the
market towards customers which increases the production and profitability. The report covers the
branding uses as a marketing tool which emerged in the business practices. The key components
of successful brand strategy for building and managing the brand equity will be discussed in this
report. Different strategies of portfolio management, brand hierarchy and equity management is
also explained in this report. Brand management as working collaboratively and in partnership at
domestic and international level will be discussed. Different types of techniques to measure the
brand value is also assessed in this report for Coca-Cola and Pepsi.
SECTION 1
P1 Importance of branding as a marketing tool and how it has emerged in business practices
DEFINITION OF BRAND
Brand is a name, design or symbol or can be said as a feature which describes the identity
of any product and service which is sold by any seller or company. Brand also differentiates
products and services from any other product effectively. Brand also leaves an image of products
and services offered by organisations on customers minds (Sevel, Abratt and Kleyn2017). It can
be also described as a memory or expectations which helps any consumer to make a decision to
purchase the products or to choose over another.
BRANDING IMPORTANCE
Branding is crucial for firms which provide soft drinks for customers in the market
effectively. The soft drink taste is different from any other brand which makes it special and
effective in the market. Apart from this, any other firm related soft drink company . Both are
well known firms in the market with effective revenues and tastes. Branding is crucial for firms
in order to expand their business activities in the market (Hudson, 2017). Any brand takes the
eight basic blocks as consideration such as colour, name, logo, sound of the brand, position,
messaging, experience and packaging of the brand. Branding will help to expand markets and
increase revenues with market shares.
 Remembering: It is very hard for the consumers or any other people to remember the
name of products and services that brand helps Organisations to remember their
customers about their products and services effectively (France, Merrilees and Miller,
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2016). Brand image and attractiveness will help them to remember the products offered
by the organisations efficiently.
 Increase reputation: An effective brand image will help businesses to enhance their
reputation in the market towards consumers effectively. Customers who used the
products and services remember them by the brand image and logo which will help them
to tell others about the effectiveness of brand and products. Thus, brand also helps to
increase the loyal consumers.
 Differentiate: Branding will help Organisations to differentiate their products and
services from each other in the market. In addition to this, both brands are from the same
sector which sells soft drinks for customers.
 Perceived value: Perceived value is all about the way in which consumers perceive the
brand effectively. In respect to this, consumers thinking for the brand has a significant
impact on choices that whether they want to purchase the products or not. The identity of
brand will help them to increase the perceived value with looking more effective and
professional.
 Branding creates meanings: Marketing is spread all over the places with multiple
channels and also assessed with advertisement. An effective branding of Organisations
will help them to demonstrate their meaning, initiatives and purpose in the market
towards consumers effectively. Branding is winnings the heart of consumers with
providing them good products and services. Thus, an effective branding will help
Organisations to create their own values and meaning plus a message as well for the clear
communication.
 Branding creates powerful and strong emotional connection: Emotions is a strong
and powerful energy which helps Organisations to make their decisions effective
(Merrilees, Miller and Halliday, 2016). It also influences the behaviour of organisations
in terms of what they decide to do effectively. Brand work will also help businesses to
evaluate their target customers and helps to know the business activities in the market
efficiently.
The main role of branding in business practices is to advertise the particular products and
services offered by Organisations which will help consumers to use the products with quality in
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