[SOLVED] Brand Audit and Equity Management Strategies

The given assignment focuses on the brand audit and equity management strategies adopted by Amazon and E-bay. It explores various techniques such as social listening, branded keyword tracking, and direct traffic tracking to measure brand value among customers. The residual method is also discussed as a means to evaluate brand equity using approaches like price premiums and customer behavior. This assignment aims to understand the significance of brand image and value in enhancing business operational activities and achieving financial goals.

BRAND MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Branding importance as a marketing tool and how it has emerged in business practices.1
P2 Key components of successful brand strategy for building and managing brand equity..2
TASK 2............................................................................................................................................4
P3 Various strategies for managing brand portfolio, equity and hierarchy............................4
TASK 3............................................................................................................................................6
P4 Management of brand with collaboration and in partnership at international and domestic
level........................................................................................................................................6
TASK 4............................................................................................................................................8
P5 Various techniques used to determine and manage the brand value.................................8
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Brand management is important for the firms in order to reach the customer perception
and preference and also to increase the market share and managing brand value and equity. The
report will cover the importance of branding as a marketing tool and key components of brand
strategy to manage the brand equity. Portfolio management strategies, brand hierarchy and equity
management will be discussed in this report. Branding with collaboration and partnership using
different techniques to measure the value and equity will be discussed in this report.
TASK 1
P1 Branding importance as a marketing tool and how it has emerged in business practices
BRAND DEFINITION
Brand refers to a symbol, design or name or can be a feature used by the organisations in
order to identify their products and services in the market towards customers effectively. It will
also help businesses to differentiate their products from any other firm's products in the market
for the same business efficiently. Customers can easily recognise a brand name with the help of
brand feature. Brand can be described as an expectation or memory of customers which helps
them to purchase the products and services over another.
IMPORTANCE OF BRAND
Branding is crucial for the firms in order to make it special and specific from another in
the market and also towards customer’s point of view (Alhaddad, 2015). It also helps businesses
to improve their image in the market and increase the revenues in terms of profitability as well as
production which correspondingly help to expand their business activities effectively. Brand can
be a logo, message or experience of customers after using the product, brand sound and name or
colour. Everything used to describe the business activities in terms of products and services is
known as branding.
 Increase loyal consumers: Customers always expect the best quality products and
services in low rates in the market which they can trust and use effectively. Brand has a
strong bond with consumers that happy customers tell at least three people about his
experience with brand.
 Remembering: Normally it can be seen that, consumers does not remember the products
and services that the brand will help them to recognise the product of the firm. Brand
1

attractiveness and image help them to remember the products offered by brand in the
market for sell.
 Increase reputation: Brand image also aids business to manage its reputation in the
market with the help of quality products. Happy customers remember the name of brand
and tell others about the effectiveness and quality of products which help business to
increase its reputation towards the customers in the market.
 Differentiate: Branding help businesses to differentiate their products and services from
others in the market for the same business activities (Baumgarth, Kaluza and Lohrisch,
2016). For an example, Coca-Cola and Pepsi both are the similar brands which produce
soft drinks for the customers in the market. The different logo and colour which is used
for branding will help their customers to recognise and select the product over another.
 Branding make strong and powerful emotional connection: Emotion can be described
as a strong energy which will help businesses towards their effective decision making in
operational activities and market as well. This will also help them to identify the target
customers in the market effectively.
 Branding creates meaning: Marketing is everywhere in terms of multiple channels
which is also associated with advertisements. Branding will help businesses to
demonstrate their initiatives, purpose and meaning in the market. It is effective towards
products and services which is winning the hearts of customers. This will also help firm
to create its own message which clear the communication between customers and them
effectively.
The role of branding in the business practices is important that it helps to advertise a
specific product or service which is offered by the firm to be used by customers effectively. This
will help businesses to increase their profitability and production which enhance their market
share effectively (Shah, 2017).
P2 Key components of successful brand strategy for building and managing brand equity
IMPORTANCE OF BRAND STRATEGY
Branding strategy is helpful as well as important fir the firm which helps to determine the
demands and requirements of customers in the market which also assists to manage the business
operational activities effectively. Strategies related to branding and plans help management to
evaluate and determine the customer perception and perspectives from which they are able to
2

provide quality products and services in the market. This will also benefit them to increase their
decision efficiencies.
MANAGING BRAND OVER TIME
Management of brand for the long period of time in terms of effectiveness and quality of
products and services refers to managing and controlling brand over time. It can be said that the
market is now full of competitors where brands should manage their effectiveness towards
customers with the help of techniques, customer preferences, services, products and framework
effectively and efficiently (Brexendorf, Bayus and Keller, 2015). This can be done by balancing
brand management and the process used for this is Life cycle which helps businesses to manage
and control their operational activities plus brand image for long period of times.
CHALLENGES INDEVELOPING A BRAND
 Brand as an asset: Brand is in a pressure of generating short term results relating to
financial activities and to measure such asset as well as values effectively.
 Compelling vision: Businesses need to focus on differentiating products and services
from any other brand in the market towards customers in order to manage the brand value
and effectiveness efficiently.
 Subcategories: Brand faces challenges when it comes to make subcategories for the
brand in order to bring the brand vision into life cycle process effectively.
 Integrated marketing communication: Integrated marketing communication is
important for the firm and also difficult in order to select the method of advertisement,
social media platform or any other thing which communicates with market efficiently.
 Strategy development: Developing a plan or strategy is important for the firm in order
to manage the brand equity and value in the market that it is a difficult stage where
management needs to focus on elements which help to increase the brand value.
BRAND EQUITY
Brand equity will help businesses to manage and control their brand value in the market
in front of customers. It also helps to increase the revenues by selling quality products in the
market that products with superior quality, reliable and recognisable for customer increase the
brand equity and market share effectively (Chinomona, 2016). It is based on consumer
perception which includes experience and knowledge.
3

 Target customers and audience: There are some people in the market who are willing
and likely to purchase the products and services offered by the firm. They are also known
as target customers for the firm that it is important for the firm to target people who are
not yet connected with the brand.
 Brand promise: Brand promise can be defined as the products quality and effectiveness
which an organisation provide in description. It is crucial for the firm to achieve the
customer preferences and perception which will help to fill the expectation of consumers
in the market towards the products (Sharma and Singh, 2017). This will also help them to
increase their profitability and production which leads to accomplish the goals and
objectives effectively.
TASK 2
P3 Various strategies for managing brand portfolio, equity and hierarchy
Brand portfolio strategic management will help both Amazon and E-bay to evaluate and
determine their scope, roles, structure and interrelationships of the brand portfolio. An effective
brand portfolio strategic management will help both organisations to achieve consumer
perceptions in the market.
 Brand roles: Brand roles for both firms Amazon and E-bay should be clear and defined
in relation to marketing for the products and services effectively. The roles should be
well defined in order to achieve the customer perceptions. This will help brand portfolio
by providing strengthen. This will also help to manage the brand portfolio in various
conditions for both business effectively.
 Thinking for long terms: Brand portfolio should be controlled and managed effectively
in order to manage the available resources in the firms. This will also help both firms to
make strategies for present and future growths and profits effectively (Dai, 2015). This
will help Amazon and E-bay brands towards making strategies for present and future
growths and managing the brand portfolio effectively.
 Customer perspective: Decisions regarding to the brand portfolio management not only
considers the review of financial data but also takes customer perspectives effectively.
These are normally originated inside the board rooms. Both Amazon and E-bay can use
qualitative and quantitative approach in order to achieve the research on consumers and
market conduction and managing their brand portfolio.
4

 Connect with business strategy: Brand portfolio management is done effectively with
the use of strategy. This will help both firms to evaluate and determine the market growth
which is also associated with values propositions.
Relationship and different roles create happy family of brands towards the brand portfolio
management. This can be delivered through synergy, differentiation and energy to achieve clarity
and leverage which leads to accomplish the objectives and goals.
BRAND-HIERARCHY
Brand-hierarchy can be defined as a short summary of brand strategies which also help to
describe the nature and number of common elements effectively for both Amazon and E-bay. It
is based on realisation in which Amazon and E-bay products and services can be reproduced in
different methods (Dolak, 2014). This also depends on previous elements used for branding.
Brand-hierarchy moves from upper level to lower level which includes entries at each level of
succession. Moreover, it is also used to determine the logo or image of brand with the help of
market research and information.
KELLER'S BRAND EQUITY MODEL
The brand equity model is also known as Customer Based Brand Equity which improves
and develops strong and powerful strategic brand management. The model will help Amazon and
E-bay towards making strong strategy to manage and control the brand equity.
Brand identity: Brand identity will help Amazon and E-bay in terms of making recognisable it
for the customers and aware of products and services in the market. This will help business to
manage the brand equity towards existing and new customers.
 Decision making and consumer market segmentation.
 Identify the preferences and perceptions of customers.
 Classifies the brand and products.
Brand meaning: Brand meaning includes the communication of the purpose of Amazon and E-
bay. The main elements of building a brand meaning is performance and imagery. Performance
is for customer demands and imagery refers to demands on social and psychological level.
 Products and services should meet the demands of customers.
 Customer experience with Amazon and E-bay (Erkmen and Hancer, 2015).
 Accounting for imagery and performance to develop brand personality.
5

Brand response: Brand response refers to the feedbacks and comments provided by the
customers after using the products and services offered by brand. It is divided in two parts:
judgements and feelings.
 Brand superiority as compared to others.
 Judgements of customers towards the products on the basis of brand.
 Customer consideration towards products with unique needs.
Brand resonance: Brand resonance is important for the firm as well as difficult that it comes up
at the top level of brand equity. This can be accomplished by customer psychological bond and
feelings.
 Repetition of purchasing by customer.
 Customer loyalty and love for the products.
 Active engagement of customer with the brand (Walsh, Schaarschmidt and Ivens, 2017).
This will help to achieve the brand equity management and will be divided in two parts such as
feelings and judgements. The Keller's brand equity model will work as an strategy for the firm in
order to manage their brand awareness and effectiveness towards customers in the market
effectively. Brands connects with the business strategies and plans in order to achieve the
effective management of brand portfolio. This will also increase the brand equity awareness
towards new and existing consumers. This will also help to achieve the brand measurement from
the point of view of consumers which lead towards the profitability and production for both
firms.
TASK 3
P4 Management of brand with collaboration and in partnership at international and domestic
level
STRATEGIES AND APPROACHES FOR BUSINESS EXTENSION
 Ignoring critics: Amazon and E-bay both are the online retail shopping websites which
provide essential and effective products in terms of clothing and home accessories. There
are so many critics arise that the product is not good as in the image or service is poor etc.
this will create a negative impact on new customers. Thus, business should ignore such
critics and try to deliver valuable services for the customers.
 Ordinary to beautiful: Both Amazon and E-bay is able to increase their market share in
terms of making their products and services more effective in terms of new shape, size,
6

packaging and patterns (Gustafsson, 2015). This will help them to re-innovate their
products from which they can increase their market share.
 Price justification: Both Amazon and E-bay are the online shopping websites that price
is a main factor for customers in order to purchase the products and services effectively.
Price strategy will help both firms to manage their products and services under budget as
well as in favour of customers.
 Discounting: Discounting is also a strategy which will help firms to sell their products
and services which becomes old now in terms of fashion. This will also help to attract
new customers in the market to purchase the products offered by various brands. It will
increase the market share for both Amazon and E-bay which leads to extent their market
activities.
BRAND REINFORCEMENT AND REVITALISATION
Reinforcement is a process which helps both firms to manage their brand equity towards
customers in the market. It will be done by ensuing that customers have sufficient knowledge
and experience of products and services from which organisation is able to receive feedbacks to
manage their brand equity (Kasemsap, 2015). Sometimes, reinforcement strategy fails due to
latest techniques, customer trends and preferences, competitors etc. Revitalisation is a strategy
from which both Amazon and E-bay firms come back to the roots used in the past to capture the
lost resources of equity effectively.
STRATEGIES FOR REVITALISATION
 Identification of opportunities: Identification of extra opportunities refers to the use of
products and services offered by different brands to increase the frequency of uses. This
will help both firms to increase their present and future opportunities.
 Various ways to use brand: There are so many ways which help both Amazon and E-
bay towards selling the products and services in the market to customers which will also
help to make positive impact on brand (Molinillo, Ekinci and Japutra, 2016).
 Entering new markets: Potential markets will help firms to expand their business
operational activities in the market. They are also able to enter in new markets which will
extent their activities and increase revenues effectively.
PARTNERSHIP AND COLLABORATION
7

Collaboration and partnership is way from which both firms are able to expand their
business activities in the same market. This will be done by merging the activities and
collaboration with any other firms related to the same market. For an example, Amazon and E-
bay can merge together and work as a partner for increasing the business activities and values as
well as the production.
Ignoring critics, Ordinary to beautiful, Price justification, Discounting are some strategies
from which both Amazon and E-bay brands are able to manage collaboratively and effectively.
Identification of opportunities, Different ways to use brand, Entering new markets such things
can be done by managing the brand in partnership which will help to expand the business
activities working as a partner for each other at domestic level. For an example, brand
revitalisation is an effective strategy for both brands in order to innovate their products and
services offered in the market towards customers effectively.
 Be strategic: Amazon and E-bay are able to make a partnership with any other brand in
order to increase their market share and business activities which will help them to
achieve the objectives and goals of working collaboratively (Shah, 2017). Both firms
should be strategic in order to make their own vision.
 True towards brand: Both firms should manage their business activities collaboratively
and in partnership that they will remain true for each other in the market effectively. This
will help them to increase their revenues and achieve the market goals and objectives.
TASK 4
P5 Various techniques used to determine and manage the brand value
DIFFERENT TECHNIQUES
 Surveys: Surveys will help both Amazon and E-bay towards determining the brand value
in terms of customer point of view in the potential market effectively. Surveys can be
done by telephone, existing customers, E-mails and websites efficiently.
 Website traffic: This is the best and appropriate way from which both firms are able to
reach their customers in the market by using direct channel method. It will help them to
know the number of people visited to their sites and likely to buy the products and
services.
8

 Social listening: Social listening is also a better platform for both Amazon and E-bay
firm in order to evaluate the brand image and equity in the market towards customers
(Sharma and Singh, 2017). This can be done by monitoring the Instagram, Facebook,
Twitter and other online sites of activities.
Inbound lead tracking, branded keyword tracking, brand tweet tracking and direct traffic tracking
are some more strategies and techniques which can be used by both Audi and Hyundai in order
to measure the brand value in the market effectively towards customers.
BRAND EQUITY AUDIT
 Clearing the consumer perspective: The evaluation of brand equity can be done by
different perspectives. Financial results of both Amazon and E-bay will help them to take
a look at price premiums. This will also help them to measure the price of products and
services which customers are ready to pay effectively.
 Objectives: Determining brand equity research objectives will help both firms to
evaluate their position in the market by exploring, extending and tracking. This will also
help them to increase their revenues and profitability which leads towards achieving
business objectives and goals.
 Behaviour of customer: Customer behaviour after using the products and services
offered by various brands through Amazon and E-bay will help them to manage the brand
value and image in terms of customer perspectives and preferences effectively.
APPROACHES TO VALUING BRAND
 Brand sale comparison method: Comparison method refers to comparing the present
data to the recent data and information which will help both Amazon and E-bay to
measure the sales level in the past, present and future effectively.
 Equity evaluation method: Equity evaluation will help both firms to describe the results
between price and profitability. It can be an advantage for the firms in order to manage
the financial values which help to control the brand value towards customer perspective
and preference.
 Residual method: The brand equity model by Keller will help both Amazon and E-bay
to evaluate their brand value using various approaches towards customers in the market
(Walsh, Schaarschmidt and Ivens, 2017).
9

Such techniques and strategies will also help to achieve the brand value evaluation and
determination of brand equity audit effectively. Thus, it can be said that there are some effective
strategies from which both Amazon and E-bay are able to manage their brand audit, equity and
effectiveness towards customers in the market.
CONCLUSION
It can be said from the above report that brand image and value is important for the firms
in order to increase the business operational activities in the market towards customers. Strategy
for brand management will help firms to enhance their brand value among others in the market.
It will also help them to reach customer perspectives and preferences effectively. Management of
brand equity will also help Amazon and E-bay to manage their brand portfolio and value as well
as hierarchy efficiently. Brand is also able to manage the business activities with partnership and
collaboration which will help them to expand their business at domestic and international level.
Different techniques will also help them to manage their brand value towards customer tastes and
perception.
10

REFERENCES
Books and Journals:
11

12