Brand Management of Apple
20 Pages5663 Words52 Views
Added on 2020-06-04
Brand Management of Apple
Added on 2020-06-04
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Brand Management
Table of ContentsINTRODUCTION...........................................................................................................................1Section 1...........................................................................................................................................1LO1.............................................................................................................................................1Define Brand...............................................................................................................................1Branding as a marketing tool......................................................................................................2Brand equity................................................................................................................................2Difference between a brand and the product...............................................................................3Key elements of Strong brand.....................................................................................................3Brand management and development over time.........................................................................4Challenges in brand development...............................................................................................5Section 2...........................................................................................................................................6LO2.............................................................................................................................................6Brand Portfolio strategy..............................................................................................................6Management hierarchy of two brands.........................................................................................7Brand Equity management using CBBE model..........................................................................9LO3...........................................................................................................................................11Extension approach and strategies............................................................................................11Brand reinforcement and revitalisation.....................................................................................11Collaboration and partnership...................................................................................................12LO4...........................................................................................................................................12Brand measurement techniques.................................................................................................12Brand equity audit and tracking techniques..............................................................................13Approaches of valuing brands...................................................................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
Illustration IndexIllustration 1: Management structure of Apple................................................................................8Illustration 2: CBBE model...........................................................................................................10
INTRODUCTIONA brand is the unique identity that is been hold by a product of the company and helps itto gain a better recognition and customer base. Thus, management of the brand is very necessaryfor a business organisation (Klopper, Lubbe and Prins, 2016). For this report, Apple andMicrosoft have been taken for the context. This report will focus on the brand as a marketingtool, brand equity and its key elements. Besides this, various challenges faced in the branddevelopment are also taken into the brand consideration. Various strategies and models havebeen discussed and the importance of collaboration for a better brand has been discussed. Apartfrom this, different sort of brand equity audit techniques have been discussed to support brandvalue (Kristal, Baumgarth and Henseler, 2017).Section 1LO1Define BrandA brand is the unique identity or recognition that has been taken into consideration todevelop a brand, company or its products and services. It is the specific identification like name,image, design, symbol or its effective combination that helps the company to gain a better shareof the market and help them to meet the requirements of the consumers. It helps the company topromote, sell and generate better revenue by gaining a brand loyalty of the customers for itsproducts and services. It benefits the customers in the market to identify the goods produced by aparticular brand as compared to their rivals or the competitors (Schmidt and et.al., 2015).Many times, the brand name is equivalent to the epitome of high quality, trust and betterservices, making the customers to purchase a brand of a particular brand in the market. Besidesthis, it helps a lot to the company to attract the large number of customer, giving a competitiveadvantage to the organisation in the market. It helps the business organisation to build better trustor faith level with the consumers and aids the firm to gain a better revenue in the market. It alsoleads to the generation of high demand for a product or the service of a peculiar brand that helpsthe business firm to generate high amount of revenue and effectively carry out the operations ofthe company (Dennis, Melewar and Mauri, 2016). 1
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