Brand Management: Importance, Strategy, and Equity

BRAND MANAGEMENT

Contents
INTRODUCTION...........................................................................................................................3
LO 1.................................................................................................................................................3
P 1 Importance of branding for a tool of marketing....................................................................3
P 2 Components of strategy that is successful for a brand to build and manage the equity of it 5
M 1 How brands are managed successfully over time using application of appropriate theories,
models and concepts....................................................................................................................6
M 2 Appropriate and validated examples within an organizational context...............................6
LO 2.................................................................................................................................................7
P 3 Management of portfolio, hierarchy of brand and management of equity............................7
M 3 Analyze portfolio management, brand hierarchies and brand equity using appropriate
theories, models and frameworks................................................................................................9
LO 3.................................................................................................................................................9
P 4 How brands are managed collaboratively and in partnership both at a domestic and global
level..............................................................................................................................................9
M 4 Evaluate the use of different techniques used to leverage and extend brands...................10
LO 4...............................................................................................................................................10
P 5 Techniques for measuring and managing the value of the brand........................................10
M 5 Evaluate application of techniques for measuring and managing brand value in relation to
developing a strong and enduring..............................................................................................11
D 1 Critical evaluation that is supported by justified evidence demonstrating a comprehensive
understanding of branding.........................................................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Brand management begins with an analysis on how a brand is currently perceived in the market,
proceeds to planning how the brand should be perceived if it is to achieve its objectives and
continues with ensuring that the brand is perceived as planned and secures its objectives. This
report contains issues such as Importance of branding for a tool of marketing. Components of
strategy that is successful for a brand to build and manage the equity of it. Management of
portfolio, hierarchy of brand and management of equity. How brands are managed
collaboratively and in partnership both at a domestic and global level and Techniques for
measuring and managing the value of the brand (Fetscherin and et.al., 2019).
LO 1
P 1 Importance of branding for a tool of marketing
Branding is an important aspect for the company which cannot be taken lightly and there
is a reason for that and that is with the help of it they can sustain their share in the market for a
long period of time through which substantial amount of returns are achieved. It is important for
the brand to imply right strategies of positioning in the culture so they are able to reach the minds
of the audience. If done effectively company will be able to enhance the level of awareness of
their brand (Seliga and Sułkowski, 2018).
Earning Recognition-
It is very important for the company to consider branding because if not it won’t be
possible to reach the mind of target audience and get more sales. They need to make sure that the
logo made and introduced by them is attractive enough that the second time people watch it they
remember the brand. With the help of this brand will be able to establish the base and ser their
earnings in the market.
Brand Value-
It is an important aspect as value of the brand is the respect it has in the market. if they
are able to set the value of the brand the only it is possible for the company to consider the plans
of expansion. In establishing the value Dyson has been successful and that is why other

companies in the market are suffering and struggling to survive. It is because of this reason that
they will gain success over other companies easily and will enter in new markets before them
(Dierks, 2017).
New Customers-
The time that the company has invested in the market has been useful for them as with
the help of it they have learned about the whereabouts of market through which they have gained
insight about what factors they need to comply with in order to get attention of people and retain
them. After establishing their brand it has been easy for the company to deal with new
customers. Any product they bring into the market is launched under the name of Dyson as
people have trust over them. Also they use a lot of strategies for promotion to increase the
awareness.
Employee Satisfaction-
Employees who works for the brand that have value in the market works with pride
because they get respect in the market and from other people which gives them a sense of respect
and pride. This reflects changes in their behavior and attitude on the positive side which also
makes them put more efforts in their work so that company can achieve their goals. There are
many other factors which satisfy them such as getting a package that is decent and an office with
all the other amenities that is the reason why employees are loyal to the company (Kinnwall,
2017).
Trust in the market-
The company deals in the sector of goods where it is important to make the consumers of
the company understand the details about the product and the benefits of its use to the customers.
With that they have positioned their brand in a very professional manner by keeping everything
in mind so that they can earn their trust and make them loyal. This unique strategy helped the
company to take the attention of the customers and after that they had trained employees who
made the sales which increased their revenue and share in the market.