Importance of Branding as a Marketing Tool

BRAND MANAGEMENT

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
Importance of branding as a marketing tool................................................................................3
Key components of successful brand strategy.............................................................................3
LO 2.................................................................................................................................................4
Strategies of portfolio management, brand hierarchy and brand equity management................4
LO 3.................................................................................................................................................7
Brand leverage.............................................................................................................................7
LO 4.................................................................................................................................................9
Measuring and managing brand value.........................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
To have a stable sales and profit margins it is very important for the businesses to have an
element of brand management. There are a lot of businesses which have made a lot of investment
in this factor which is a great factor for them in a long run. Dyson Group Plc which was
established by Sir James Dyson in 1991 is belonging from the technological industry. The
headquarters of the business is in Wilshire, England. Products and services are going to be
maintained and the choosing the right strategy is going to make the functioning and operations of
the organization more effective would be discussed in the further report.
LO 1
Importance of branding as a marketing tool
Branding is important for the company because it supports to build strong customer base and
differentiate brand from others effectively. But to achieve good brand positioning requires
appropriate funds to the company. There is high requirement of technological factors that
supports to influence brand image in the market. Branding is a type of practice that company
uses to influence goodwill of company in it’s market (Veloutsou and Guzman 2017). Dyson plc
is technological company and offers wide variety technology-based products accordingly
customer demands, so it has achieved good brand image in the technology sector. There are key
importance that gives to Dyson plc and can be discussed as follows: Provides exclusive identity
Branding differentiate brand from others in it’s sector that helps to gain competitive advantage as
well as influence customer trust on the brand. Brand always focuses on innovation and products
that are undertaken to give value-based customer service to the customer. Innovation is essential
for the market because it brings values and recognition of brand in the business market. The
reason behind is that customer influences creativity and new ideas in the business market that is
golden opportunity for the Dyson plc. Creates trust
Strong branding of the company brings high trust among customer for the product and services
and influences them to buy products and services from particular brand. Dyson have gained
strong trustful brand positioning because it always stands on it’s commitment. Due to strong trust
factor enables to communicate and operate better and effectively in it’s market. Competition is

rising in it’s technology market so it is important for the company to achieve high new income
which influence it’s potential to invest large funds in developing a higher brand positioning in
it’s market. Attracts new customers
A strong brand image always attracts new customer towards company for buying products
because customer strong brand image means customer keeps blind trust on the company and it’s
products. As same Dyson plc has created strong brand image for customers in the business
market which brings higher productivity and better functioning.
 Enhances recognition
Branding actual play effective role in Dyson plc because today’s world everyone aware about
Dyson and it’s products. It will be right to say branding supports to influence recognition of
company. So, Dyson enables to stay long run in the competitive market. As know technology
sector is become more competitive market due to emerging technologies and Dyson also have to
face intense competition but branding supports company to be able to better functioning and
differentiate brand time to time from others (Paul, 2019).
There are other effective key tools that must consider by Dyson to make it’s brand
valuable for the customer in the technological sector. There are another productive steps that
will have to practices by upper management to keep it’s brand image stable and highly
competitive. There are other tools like JIT and TQM etc. are the best option for the operation
management of Dyson that will improve quality of products and services that automatically
influence reputation of the Dyson in it’s market.
Key components of successful brand strategy
There are a lot of strategies which can be used by businesses to be able to promote
themselves and create a larger brand image in the market. To have loyalty and trust of the
customers the company will have to increase the brand value and image in the market.
Dyson Group has been using Keller’s brand equity model framework from a long run so
that they can get a good place for themselves in the market. In this model there is a full detail
which is given to the customers in the first place and then the company will focus on the
performance and then understand the feelings and then work upon the brand image and the
organization which is the last stage.