Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 Covered in Boucher................................................................................................................3 TASK 2............................................................................................................................................3 Organization's brand portfolio strategy..................................................................................3 Hierarchy management of brands within Apple portfolio......................................................4 Strategies used for managing the equity of brands within company portfolio.......................5 TASK 3............................................................................................................................................6 Strength of one brand that can be leveraged and weakness that need attention.....................6 TASK 4............................................................................................................................................7 Differenttechniquesused for managing and measuring brand value, brand awareness, consumer attitudes, purchasing intent and market share........................................................7 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................10
INTRODUCTION Brand management refers to the activity of supervising promotion of specific brand of products (Flint, Signori and Golicic, 2016). Brand management is planning and analysing on how the brand is recognized and perceived in marketplace. Developing the good relationship with target market is important for brand management. The procedure of brand management usually includes 4 stages, such as establishing and identifying brand positioning. In short, brand management is the process of improving, upholding and maintaining the brand so that name is associated with better outcome. The present report is based on Apple multinational company and itsbrandmanagementsystem.Itexplainscompanybrandportfoliostrategy,hierarchy management of brands within firm portfolio and strategies for managing equity of brands related to in context of organization. Strength of one of the favourite brand that can be leveraged and weakness that need attention and describe some possible suggestion and partnership and collaborative agreements. Furthermore, it justifies different techniques used for evaluating and managing brand value, purchasing intent, consumer attitudes, brand awareness and market share. TASK 1 Covered in Boucher TASK 2 Organization's brand portfolio strategy Brand portfolio strategy is about the family of brands, its roles and responsibilities with each other. It must deliver synergy, clarity, leverage, energy, relevance and differentiation. Apple istheAmericanmultinationaltechnologyorganizationthatdesigns,sellsanddevelops customer’s electronics, online services and computer software. Apple is considered as one of the big four of technology along with Google, Amazon and Facebook.Brand architectureis one of the best brand portfolio strategy used by company to strengthen their brand. It is the system that helps to organize brands, services and product in order to consumer access and relate to that brand. Organization used this model as strategy for their brand portfolio which enables clients to form opinions and preferences for whole group of brands by learning or interacting only one brand in that group.
Brand architecture in the field of brand management is the structure of brands within Apple, it is a way in which brands within firm portfolio is related to and differentiation from one another (Greve, 2016). Company brand portfolio strategy is based on particular product and its number of sells. It is essential brand strategy tool that defines relationship of parent brand with their several another brands. Hybrid architecture, house of brands and branded house is the three most popular types of brand architecture that is beneficial for company as well as business progress and success. In order to mange portfolio effectively, organization need to implement new strategy that is allocation of assets. Through allocate assets, divide roles and responsible between workers company can manage portfolio. Furthermore,theycanmanagehierarchymanagementbydefiningaccountabilities equally at different levels. Hierarchy management of brands within Apple portfolio Brand hierarchy is summarizing branding strategy by displaying nature and number of common and distinctive brand components across the Apple products, revealing explicit ordering of brand elements. Brand hierarchy defines the top products along with their attractive features and number of sell. Apple iPhone XS maxis at the top of organization brand portfolio along with different features and good quality that attract peoples towards purchases. This iPhone have the best screen 60% better dynamic range which must make videos and photos of peoples appear more vivid. It improved their camera software by introducing the new smart HDP mode with zero shutter lag which permits to capture multiple pictures. On the other sideApple iPhone XRis at the second stage within organizational brand portfolio, it grabs the attention of consumers the most and drive them towards buying it. This handset notch houses the couple of attractive features like FaceID functionality and True depth camera system. Apple iPhone XSis number third in brand portfolio of company along with 12 Mp rear camera and some more additional features. It comes with bundled lightning connector earbuds which many consumers like to use and it is one of the reason that drive peoples towards it. iPhone XS is water resistance to IP68 rating, it means consumer can slosh it about in shower or bath without a care.
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Apple iPhone X- 64 GB,is placed at fourth position within organizational brand portfolio with first OLED screen with appropriate stunning colours, high brightness and true blacks and 1,000,000 to 1 contrast ratio. Strategies used for managing the equity of brands within company portfolio Apple used range of strategies for maintaining their equity of brands with portfolio which is beneficial for firm as well as helps to increase profitability and productivity (Heding, Knudtzen and Bjerre, 2015).Keller's customer based brand equity modelis one of the best system which can be used by company. This model is used for building reputation of brands in minds of clients and continue progress of business over time. It takes shape of pyramid which is divided into four levels such as identity, response, relationships and meaning. Identity- Communicatingandfindingoutwhatbrandisallaboutisthebasisofbrand, management must assure that they are getting appropriate message to consumer which helps to maintain brand equity and sustain for longer. Apple need to focuses on quality of products which help to increase sells and make brand identity higher as compare to other brands. Meaning- With the general identity in market, next level is going to be to carve out the meaning of brand that will start to build loyalty within target audience. Brand meaning is going beyond quality of goods that company offer. Firm need to build meaning of brand around number of various things, for example commitment to particular social causes which helps to maintain equity of brand such as iPhone XS max. Response- To maintaining equity of brand within organization's portfolio, considering response is essential for firm. Once clients makes the purchases iPhone XS max brand, what is there response to that purchase? If those iPhoes that Apple selling for high price and cannot delivery on quality that is expected response from consumer is not going to be positive one. In short, company need to provide good quality along with high prices which provide good consumer response and give satisfaction to them. If firm delivery good quality as expected to people, they can be able to be maintaining equity of brand and strengthen brand as well. Relationships-
It is very important to build relationship with consumer effectively for Apple to maintaining equity of brand. It is one of the biggest challenge for company to build and maintain brand equity, by using keller's brand equity model they can start procedure and able to take better decision for the same. If organization build good relationship to their consumer they can build and garb their trust and loyalty towards them. Conducting market research is defines as portfolio management strategy that help to gathers more information about current trends in market. To manage brand hierarchy company, use different strategy for example, they can restructure portfolio and remove that particular products which is less considered by consumers. TASK 3 Strength of one brand that can be leveraged and weakness that need attention Strength of iPhone XS max- Apple iPhone XS Max is one of the most favourite brand form Apple along with different and various attractive features (Veloutsou and Guzman, 2017). This iPhone has 12 MP rear camera, 4 GB RAM, 7 MP front camera, Hexa core processor, 256 GB storage and 6.5 inch Screen. Along with all the features company leverage brand successful and build good product category by communicating valuable goods information to consumer. All above characteristics is leverageable strength ofiPhone XS max. There are a lot of another spectacular features that make phone as all time favourite premium one. This iPhone has beautiful and big screen that provide opportunity to consumers to see pictures and videos on wider screen. Battery life of this iPhone is much better than another phone, it has the best and improved camera that capture vivid images. Mobile features the huge 6.5 inch super retina OLED display. It is backed by A12 bionic chipset which is based on 7nm architecture and has quad core CPU and six CPU cores. iPhone XS max has the dual rear camera within 12MP primary lens with 1.8 aperture and 12 MP secondary lens with 2.4 aperture that leverage brand successfully. Weakness of iPhone XS Max that need more attention- iPhone XS Max is getting weak reception or WiFi signal, WiFi issue in mobile device occur in different symptoms which need attention and extra focus to improve it more than before. Poor reception, no connectivity and weak Wifi signal denotes the wireless issues (Rosenbaum- Elliott, Percy and Pervan, 2015). It is very costly for their features and due to average battery
capacity it make negative image in marketplace. Still like pervious iPhone range, weakness of this brand that they do not have headphone jack port. It does not have figure print sensor that might be effect on sell of this brand and it can be the reason for most of peoples avoid purchase it. Possible suggestion and collaborative and partnership agreements- Apple need to focuses on iPhone XS Max features and battery capacity that improve brand equity and values. They need to add headphone jack port because most of the consumers expect it as previous experiences. A partnership agreement is one of the best way or possible suggestion for Apple to strengthen their brand and increase sales. Apple collaborating with Microsoft apps, both companies are working together to create the new iCloud app for Windows operating system, Apple allows Microsoft apps to open within their brand which is quite beneficial and effective for brand equity. TASK 4 Different techniques used for managing and measuring brand value, brand awareness, consumer attitudes, purchasing intent and market share Techniques for measuring and managing- Brand value-organization brand value is depending on their market reputation and position (Du Preez and Bendixen, 2015). Company can measure brand value via considering of purchasing rate which helps to define that exact rate of iPhone purchase. Brand value is today value or net present value of earning iPhone XS max is expected to generate in future. Brand value is measured by considering the current consumerpurchase rateand defines how many people were like to buy it as compare to another brand. Company can track loyalty, satisfaction level of consumer and market share separately which is one of the best ways to evaluate brand value. They can identify revenues from goods that are generated with brand. On the other side company can be able to manage their brand value via providing quality products and create good brand image within marketplace that help to grab the attention of consumer and attract the new ones towards them. They can manage brand value via making the best brandmarketing strategiesor plans for promoting it in market in order to attract consumer and retain the new ones for long period of time.
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Brand awareness-it refers toextent to which clients are familiar with image or qualities of specific brand of services or products (Beverland, 2018). It is the key consideration in advertising management and consumer behaviour. Brand awareness increased clients loyalty and build brand equity that is beneficial for business. With the help ofcustomer feedbackcompany can be able to measure brand awareness. Clients reviews is precious for Apple as helps to know who many people’s will like goods and purchase more than any another products. These reviews provide information about whether consumer is dissatisfied or satisfied with brand. Survey by email and Websites Company is able to evaluate brand awareness and improve it more than before. On the other hand they can manage brand awareness through with themarketing plans whichincreaseawarenessaboutbrandandgenerateprofitandincreaseproductivity. Organization set up their websites on current social media platform such as Twitter and Facebook that help to manage brand awareness and aware more peoples about brand. Market share-market share is percentage of the market accounted for by particular entity. It refers to portion of market controlled by Apple, they has huge market share in Smartphone sector, but company has the small MS in personal computing sector. Organization can measure their market share with the help ofmeasuring number of buyers,larger number of buyers helps to increase market share. But on the other side large number of sealer decrease the market share and not appropriate for company growth. With the help conducting market research organization can be able to measure market share and make plans for betterment. Managing Market share is very essential for firm as it helps to increase market reputation and position within marketplace. They can maintain market share via providing equal profit to their buyers which helps to grow number of buyers and company will increase their sales more than before. Consumerattitudes-clientsattitudesisthecompoundofcustomerbeliefsabout, behavioural towards and feelings intentions toward some object within context of selling (Atwal and Williams, 2017). In simple words, clients attitude defined as the feeling of unfavourableness or favourableness that individual person has towards a product. Apple can evaluate people’s attitudes towards product with the help of theirreviews.With the help of conducting market research management will be able to evaluate preferences and attitudes of people. They can measure it with the support of creating application in which people will give their reviews about
goods or services of company. Market research is one of main elements used in measuring competitors and consumer attitudes within market. Company can maintain client’s attitudes towards their products viaproviding great quality to peoples which is beneficial and profitable for them. They need to deliver more than promise in order to maintain customer preferences and retain with them for longer time. If organization used positive words to describe their brands, they can be able to balanced attitudes of peoples. Purchasing intent-purchasing intent is probability that the customer will purchase services or products. To measure purchase intent, company marketers used predictive modelling to contribute determine possibility of future results based on historical data. Generally, this model uses the core set of variables that involved factors like website engagement, demographics, interaction with marketing messages, past purchase and in business 2 business marketing, event or webcast attendance. Marketers evaluate purchase intent via researching on clients visiting numbers at Apple stores. Brands is leveraged at international as well as domestic level when they continuously conducting market research which helps to sustain for longer time. CONCLUSION From above, it has been concluded that brand equity is one of the most essential element for business as helps to increase sales and generate revenue. There are many stages of building the successful brand which has been used by Apple in order to create brand image within market and attract peoples towards them. With the help of Aaker' brand equity model company can be able build brand successfully. By using range of strategies such as marketing plans, advertising and launch new products company can be able to strengthen their brand equity, reinforcing etc. on the other side to overcoming brand crisis they restructure existing technologies used in mobile battery in order to improve it better than before. It has been summarized that iPhone XS max is one of the most popular iPhone in organization brand portfolio along with attracting features that can leverage brand and increase sales. Furthermore, Apple is using different techniques for managing and measuring brand value, purchasing intent, market share and other elements which are beneficial and useful for increasing brand equity.
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