Branding and Portfolio Management : Report

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
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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
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