Brand Management on Optimum Impression Ltd Assignment Sample

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Brand Management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 (Covers P1, P2)..................................................................................................................1TASK 2............................................................................................................................................4P3 Different strategies of portfolio management, brand hierarchy and brand equitymanagement................................................................................................................................4TASK 3............................................................................................................................................7P4 Evaluation of collaborative management of brands in partnership at national andinternational level........................................................................................................................7TASK 4............................................................................................................................................9P5 Various techniques of managing and measuring brand value...............................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONBrand management is defined as the process which involve planning related to themarketing of brand in industry. It refers to the analysis and planning of how a brand is perceivedby the customers in marketplace which help in developing a good relationship with targetmarket. This report is relays over Optimum Impression Ltd., an advertising agency which areplanning to make an article for new marketing brochure (Abrahams, 2016). For this it involvesdetailed description regarding brand portfolio management, hierarchy and brand equity. Inaddition to this it also involve an explanation regarding brand leverage along with its strengthand weaknesses with suggestions for improvement. It also involve discussion regardingevaluation of different techniques for management and measurement of brand.TASK 1 (Covers P1, P2)BRAND IS POWERIntroductionBrand is refers to as a unique, sign, design, symbol or combination of all for creating an imagewhich support company in differentiating its product from that of others. On the other side theBrand Equity is something that holds commercial value and which derived from the perceptionof brand name of a particular product and not from the product. Brand Equity is basicallydepend upon the effort directed by Marketing department through conducting several marketingactivities and social programs in order to communicate about product offerings, their price andbenefits its offers.There are number of components which are used in managing the Brand Equity such asselecting and target the audience to offer products, provide clear and accurate informationregarding the promise which brand is making, identifying the brand perception that customershold, educating about brand power to customers and finally the loyalty that brand gains fromcustomers(Annie Jin, 2012). This loyalty is maintained by tanking customers or by providingthem special discount or gift for their loyalty.Main BodyBranding is very crucial for an organisation as it support a company to create its identity withinmarket place and stand apart from the crowd. In addition to this it also support in success and1
growth of a company. The benefit that Optimum Impression Ltd get through branding ismentioned below:Branding support in creating customer preferences regarding the product or services if acompany who is offering commodity holds up higher brand image. The consumersfirstly seek toward the brand image of Optimum Impression Ltd. before purchasingservices as it brand image depict the quality of services.With the help of effective branding a company can leverage the power of its brandimage in context of entering new segment, gaining new licence or co-branding.By using branding the Optimum Impression Ltd will be able to increase its customerbase as a brand with higher recognition in marketplace attract customer to become apart of it and avail effective services.Optimum Impression Ltd., work as an advertisement agency that support brands in marketingand promoting their product or services from different measures which further support inenhancing the brand value within the industry. Optimal Impression Limited is promoting theBrand i.e. Apple which is discussed under this article. For identifying the importance of BrandEquity of AppleKeller's Customer Based-Brand Equity Modelis used. This model shows thebuilding of Brand Equity with the help of Pyramid which is basically done by understanding theneed, requirement and implementation of strategies accordingly. The customer base of Apple isrelatively higher but it doesn't get build up within few days as it take longer time to target andbranding the product which contribute toward forming strong brand equity.This model includessix levels which are mentioned below:2
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