Brand Management and Marketing Study Guide
Added on 2020-07-22
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Brand Management
Table of ContentsINTRODUCTION...........................................................................................................................1SECTION 1......................................................................................................................................1P1 Significance of branding as a marketing tool........................................................................1P2 Key components of a successful brand strategy for building brand equity...........................4SECTION 2......................................................................................................................................6P3 Various strategies of portfolio management..........................................................................6P4 Management of brand in partnership and collaboratively.....................................................8P5 Various types of techniques for measuring and managing brand value..............................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13...................................................................................................................................................14
INTRODUCTIONIn current scenario, brand management is an effective analysis as well as planning onhow the brand is perceived in market place. It is important for business organisation to developpositive and good relationship with the target market. Basically, it is a process of maintainingand improving a brand which helps in attaining positive results (Brand Management - Meaningand Important Concepts, 2017). With the help of this, company easily enhance their positivebrand image in customer’s mind. It includes various aspects like cost, consumers, competitionand so on which directly contribute in building positive brand image of the company. For this,every organisation create as well as maintain good relation in priority. Along with this, itinfluences the customers for purchasing products. Mainly, this function is performed bymarketing department of the company in which manager uses appropriate tools and techniques inorder to increase product quality in the most effective manner. The main advantage of brandmanagement is to increase profitability level of the company which helps it in getting long termbenefits. Present report is based on Coca-Cola, which is a multinational beverage companyproduces different type of non- alcoholic beverage. Moreover, important elements of brandmanagement strategy are discussed in this report. In addition, management of brand inpartnership and its strategies of portfolio management are also mentioned in this assignment. SECTION 1P1 Significance of branding as a marketing toolBranding is an important process for an organization which include various activities tocreate an unique image as well as name of particular products in front of customers througheffective promotional activities. The main aim of business organization to use this process is toattract larger number of customers towards the specific products and services. With the help ofthis company easily analysis as well as determine customers feeling that how they think aboutthe company products. Along with this, it help customers to evaluate the better products as pertheir requirement and demand which leads in increasing the satisfaction level in appropriatemanner. In current scenario, it is more important for business to create positive image of theproducts which helps in inviting larger number of customers and at the same their also getcompetitive advantage in which they offer quality services to its customers (Ashworth, G. andKavaratzis, 2010). Basically branding is an main activity which help company to differentiate1
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