Brand Management: Importance, Strategy, and Assets

BRAND
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
SECTION 1......................................................................................................................................1
P1. Importance of branding and the development of its relevance in business......................1
P2. Key elements of flourishing brand strategy and managing brand assets ........................4
M2 Make proper application of examples through an organization.......................................7
SECTION 2......................................................................................................................................7
P3. Various strategies of portfolio establishment, brand power structure and equity
management............................................................................................................................7
M3 carry out critical analysis of portfolio management, brand series and brand equity through
theories, models and frameworks.........................................................................................10
P4. Management at domestic and global level of brands included in Partnership..............10
M4 elaborate critically the usage of different techniques at leverage and extend brands....13
P5. For the measurement and management of the brand value refer different techniques. .13
M5 Describe the application of techniques for carrying out measuring and management of
brand value with respect to development of a strong and enduring brand...........................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................18

INTRODUCTION
In this over dynamic environment, every business organisation tends to promote itself so
as to reach large group of customers in a minimum time period. Companies prefer to produce
those products and services that are able to improve their brand image among target audiences. A
brand refers to promise of a seller towards providing unique products and services to their end
users. In other words, it is a way of bestowing products with novel associations (Algharabat and
et. al., 2020). Along with this, customers remain loyal and committed for a brand as long as they
believe in it. It should be able to meet customers' expectations and perform in an effective
manner. Present assignment is based on Apple which is one of the multinational technology
companies which formulates and develops electronics, online services and computer software.
The firm was found on 1st April 1976 and currently, it has approx. 500 retail stores. Moreover
this project is going to define the value of the name of a brand in emerging business environment
and key elements that are involved in successful brand strategy. Readers will also come to know
about the portfolio and equity management in order to gain high competitive edge.
SECTION 1
P1. Importance of branding and the development of its relevance in business
Brand can be basically used as a type of sign, trademark, public figure, word or sentence
that a company uses to create a differentiation and distinction their products from other firm . A
collection of more than those factors can be utilised for creation of a strong and positive brand
image. When legal interests are protected and given to any trade name then it is referred to as
trademark. A brand is an essential asset for any business. It is basically a company's face and
professional image. Brand name helps to create and stand for loyalty, trust and faith depending
upon how brand is marketed, advertised and promoted (Bilan and et. al., 2019). Apple is one of
the well reputed companies across international boundaries. It is a well-known company because
of its brand image in market. Firm provides unique features and services to their customers
which are mainly responsible for the success of company. Apple is a California based company
of America that mainly deals with electronic equipments, information processing system
software and digital services. This company was established and found by Steve Jobs, Steve
Wozniak and Ronald Wayne. They have got the power of branding that helps to keep them alive.
1

It has nothing to do with the products. Without brand, Apple is nothing. Company mainly
focuses on the emotions of customers. Building strong relations with customers and satisfying
them in every aspect helps company to stay ahead from other firms (Chakraborty, 2019) .
Thus, branding is an important tool for marketing department (Ebrahim, 2020) . It helps
to promote the products and services of company through advertisement of brand. Following are
some significance of branding:
Offers competitive advantage: Branding offers a great advantage to organisation as it helps in
gaining profits and benefits. Brand helps to differentiate in between the products of other
company and attract customers towards them. Brand like Apple offers competitive
advantages as it is a well reputed brand in the market with their unique products and
services.
Act as a stable asset: Brand of company helps in promoting their goods across international
borders and so, it can be considered as a fixed asset for company.
Creates business relations: Branding is significant for creating a friendly environment with
other business partners and customers. They become successful in gaining the loyalty and
trust of people by providing them goods and services.
Sometimes, people get confused in between the brand names of company and its
products. A proper difference between both the terms is given as below:
Product Brand
 Collection of attributes that a company
is going to offer in market in order to
fulfil the requirement of customers.
 Duplicate or substitute of products can
be easily made by the competitors.
 It represents the identity of a company.
 Only company of respective brand can
use logo of brand as they only have the
authority.
 There is no duplicity issue with the
name of brand as no other company can
use it.
Brand as a product - It refers to the value, scope, individualism and so on that are provided by
management to their consumer's.
Brand as organisation- This feature will undertakes all elements like functions,
operations that are presented by management at local or multinational.
2

Brand as a person - This framework termed as parallel manner of a person's attribute and
brand awareness with consumer's relationships.
Brand as a symbol - As according to this model respective management require to
develop audio, video, sign and symbol events through which goods is recognize in marketplace.
For respective management, there are some sort of proposition as per to this framework
that can be utilised by them for expansion of their brand that are discussed below -
Brand loyalty
Brand loyalty is an efficient manner through which respective management will
maximise their brand equity and expand their efficient way. With the implementation of it, it will
be easy for the management to maximise amount of loyalty in business by providing important
goods. It is possible by increasing cost of goods so the business of respective management that
emphasised on production of tactics that are directly that are liked with cost of goods. Low cost
goods tactics will support the respective management to influence higher term of loyal
consumers(González-Mansilla, Berenguer-Contrí and Serra-Cantallops, 2019).
Brand Awareness
Factor of brand awareness is utilised by management for modifications of brand equity in
marketplace. In this management concentrates on maximising suitable term of goods with
consumers. It is resulted tat customers or person will become familiar with goods by which their
market awareness about management take place in business.
Quality perceived
It is also an efficient manner for respective management that maximise their brand equity
in field of marketplace. This frameworks demonstrates that the management will create
qualitative goods at inexpensive cost through which more amount of consumers are influenced
towards respective management goods. Further to evaluate it in efficient manner management
will conduct test to gain competitive edge from its challenger.
Brand Association
There are higher amount of companion are present in management that make efficient
brand equity. In current case their social platform, print media, publish media and so on that are
the factors that will maximise their goodwill and positive picture between society habitants.
3

P2. Key elements of flourishing brand strategy and managing brand assets
The prime motive of every business unit is to build up a positive brand image in market
and achieve higher goodwill so as to remain competitive between other competitors. The
procedure is set on customers' perception, expectations and experiences. Different organisations
select various branding strategies so as to capture customers' eye and attain them towards
purchasing (Greco and Polli, 2020). If people get satisfied with products and services of Apple
then it enhances the sales and productivity in an effective manner. It results, people will refered
to others, it results they are the mouth publisher of a specific brand.
Below mentioned are several components which are getting involved in the brand strategy:
 Public relations – Public relation programmes integrated for managing market reputation
of company by incorporating new and leadership promotion as well as kinds of content.
Implementation of business goals and objectives and targeting audiences is one of the
major stage to build healthy and positive public relations. If organisations have strong
public relations then it can easily attain their goals and objectives. This would also help
them to launch any brand in the market. In order to build public relations, companies can
stay up to date with breaking news and emerging market trends within industry.
 Digital marketing – These tactics elevate with the brand strategy of Apple as well as
improve public relations. Basically, digital marketing consists of promoting itself by
using new tools and techniques; a wide component of this is content marketing (Iyer and
et. al., 2020). Sometimes, it is difficult to create an effective and ongoing content with
gathering relevant resources like blog posts, white papers, etc. which will be used to
improve the position of organisation. Apple uses various digital marketing techniques
like high profile websites.
 Social media – It is an effective and valuable tool that is used by all small and large
business organisations which allow companies to share their corporative ideas as well as
perspective.
 Search engine optimisation - While developing the brand strategy, management also
acquires search engine optimisation. Effective and efficient SEO strategies rely on
continuous and high quality content which helps in positioning a brand. The most
probable or common search engines are – Google ads.
4