Brand Management in Microsoft Corporations : Report

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Added on 2020-07-22

Brand Management in Microsoft Corporations : Report

Added on 2020-07-22

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Brand Management

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Importance of branding as a marketing tool and the way it has emerged in businesspractice........................................................................................................................................1P2 Key components of successful brand strategies and managing brand equity........................4Task 2...............................................................................................................................................5P3 Different strategies of portfolio management, brand equity and hierarchy management......5Task 3...............................................................................................................................................8P4 Brands are managed collaboratively and in partnership........................................................8Task 4...............................................................................................................................................8P5 Different tools and techniques for evaluation and management of brand value....................8CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................11

INTRODUCTIONBrand management is a organisational process in which is used to having specificknowledge of the term Brand. This is generally used to build specific position of organisationalproduct and its services in target market. Effective brand management is used to alter prices ofgood for customer for build a specific image and brand awareness. Through this processorganisation can easily build strong competitor in target market and appropriate relation withcustomers. It is use as appropriate procedure to creating awareness among strong competitorsfirm. This is basically used to introduce new values and quality services in market to theirconsumer and target market (Ashworth, 2010). This report is based on Microsoft Corporationswhich is an multinational technology company and its headquartered in Redmond, Washington.This organisation was established in the year of 1975 by Bill gates. This company is deals inWindows, office, Skype, visual audio, mobile services and all. Project report determinesimportance of branding as marketing tool and some key components of successful brandstrategies or managing brand equity. It includes different strategies of portfolio management,brand equity and hierarchy management. At last it is represent brand management importanceand partnership impacts as well as Different tools and techniques for evaluation and managementof brand value.TASK 1P1. Importance of branding as a marketing tool and the way it has emerged in business practiceFor a business organisation it is very important to build specific image of their productsand quality for customers. Through this process, they can easily build strong relation withcustomers. It is help to create specific image of a brand for gaining competitive advantageseasily. In this organisation build a process to getting higher information about market, customerdemand, new trends and some other elements like culture which is follows by individuals toproduce quality goods for them easily. These kind of process are use to provide them highersatisfaction and earn effective portability easily (Bigné, 2012). Brand – This is a creation of a product that includes unique design, combination, symboland sign which make them different from others. It is basically a specific name of product whichis used to provide them a identification. This is used to build loyalty, trust and faith betweencustomers for company and its products. But it is all de3pends on quality of various products that1

includes in brand, its market value and promotional tool to spread awareness about specificinformation of product and its services.Brand as a marketing tool – In a market, lots of business organisation lots of businessorganisation use effective promotional toll to spread specific information of brand in front oftarget customers and market. This is all about create new world for a brand which is used toprovide effective services to consumers. Microsoft is a well known company which is deals inmultinational products and services for worldwide customers. Brand management for them isvery useful for getting effective competitive advantages easily (Brodie, 2013). There are somemarketing tools are given below - Establish credibility for the products: In this process management of organisationbuilds effective strategy for their products and services to create new and appropriate image intarget market. These kind of credibility help to maintaining products quality and services forgetting higher profitability easily.Key in to customer psychology and connect them emotionally: These kind ifstrategies are build by managing level department of organisation who work to create specificrelation with customers to get higher business advantages easily and for long terms as well. In it,they analyse customers and market demand for services and after this manufacture quality goodsfor them. Create loyal customers base: Customers are internal part of organisation who affectsdecision making approach of organisation. So for organisation it is very important to build highercustomers range to getting long term benefits easily. Customers loyalty helps to getting higherbusiness advantages easily (Buil, 2013).Difference between Product and Brand - Products and brands are very different to each other but it crates complexity tounderstand them individually. Sometimes it makes lots of confusion between products an brandbecause these both things are help to providing higher satisfaction to customers. There re somespecific difference between them are given below - BrandProductsBrand is basically used to built a specificimage in front of customer for organisationservices and its goods.Products are manufacturing to buildrelationship with customer in terms of moneyby selling goods.2

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