Assignment on Brand Management Project

BRAND
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
SECTION 1......................................................................................................................................1
P1. Significance of branding as a marketing tool and the way it emerged in a business practice
.....................................................................................................................................................1
P2 Key components of successful brand strategy.......................................................................4
SECTION 2......................................................................................................................................8
P3 Different strategies of portfolio management, brand hierarchy and equity management......8
P4 Management of brands in partnership both at domestic and global level..............................9
P5 Different types of techniques for measuring and managing brand value............................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
A brand cab bee defined as a term which is used to determine a product and its features.
It can be in the form of name , symbol, design or ant other element through which the product
can be differentiated from its competitors. Basically it is used to promote the product in the
market in such a manner that the customers cannot forget it (Annie Jin, 2012). So, brand
management is all about managing the brand in the market so that the company can gather more
and more customers and increase their market share. It is also considered as one of the beneficial
tool used by the marketing managers so as to gain the trust of the customers. This project will
help in understanding brand management in a deep manner. It will also explore various tools and
techniques that can be used by marketing team for maximising brand value. Along with this, key
elements of successful brand and the schemes of managing portfolio will also be covered in the
project. Also, the various techniques that will be used by the companies to popularize themselves
in the market so as to achieve their goals and objectives will also be covered. The popular brands
hat will be considered here are Audi and Hyundai. They are the popular automotive companies
that are enjoying a global brand image.
SECTION 1
P1. Significance of branding as a marketing tool and the way it emerged in a business practice
BRAND :
Definition of brand - A Brand can be defined as a name which is given to an product or a service
so that they can create an identity of themselves. It can in any form like design, symbol, feature,
term etc. It is basically done by the companies so as to make a place from their product in the
market and also it will be used by them so as to distinguish their product from other products in
the market.
It can be said that if a brand is having good image in the market them they will be able to
gather more and more customers as people will be able to remind it at then time of doing any
kind of purchase. This strategy is used by almost all the companies so as to increase their sales
volume as well as satisfying the needs and demands of the customers (Balmer, Liao and Wang,
2010).
Audi and Hyundai both are top automotive companies that is serving their customers
since many years. Their products are of highest quality and are having latest features as well and
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that is the reason they are being liked by the customers a lot. Audi is considered as a part of
Volkswagen company which is also a very famous company across the world (Baumgarth,
2010). Audi initially gained its market share because of its parent company Volkswagen but later
on Audi made their own image in the market through its good quality products and services.
Differentiate brand from product/logo :
Brand Product
 It is something that distinguishes a
product from another product in the
market.
 It cannot be copied easily as it is having
features that is different from other
products.
 It is created by customers.
 It can be categorised in both tangible as
well as intangible form.
 It can be considered as an item that is
present in the market already for selling
purpose.
 It can be copied very easily.
 It is basically created by manufactures.
 It is always in intangible form.
Importance of branding : It is very important for every company to do branding of their
products as it will provide various kinds of benefits to the company. They are like:
 It will help them in building customer loyalty because of which the customers will never
stop buying products of the company.
 Once the brand is liked by the customers then they expect the same product quality from
other brands they buy as well.
 The customers will also prefer and believe the new products launched under the same
brand like if Audi will come up with their new series car then they doesn't need to do any
kind of advertisement. It also help s in creating an image of the product in the market.
Building good impression :
If a brand wants to gather more market share then they will have to serve the customers
in the best possible way and try to satisfy the needs and wants of the customers (Bergkvist and
Bech-Larsen, 2010). This will help them in making good impression in the minds of the
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