P2 key Components of Successful Brand Strategy - Brand Management
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Added on 2020-11-12
P2 key Components of Successful Brand Strategy - Brand Management
Added on 2020-11-12
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BRAND MANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1LO1.................................................................................................................................................1P1 importance of branding tool as a marketing tool...................................................................1P2 key components of successful brand strategy. ......................................................................3LO2..................................................................................................................................................5P3 Different brand strategy of portfolio management, brand hierarchy and brand equity.........5LO3..................................................................................................................................................6P4 Brands are managed collaboration and in partnership both at global and domestic level.....6LO4..................................................................................................................................................8P5 Types of techniques for measuring and managing brand value ............................................8CONCLUSION ...............................................................................................................................9REFERENCE:................................................................................................................................10
INTRODUCTION Brand management is process of improve and develop brand perception. Managementmakes a positive relationship between the customer and product. The company includes differenttangible element for the brand. Brand management improve productivity, product price, buildcustomer satisfaction. It involves Cost, composition, marketing, market share and sales. Nestleinclude baby food, coffee, tea, medical food, dairy product, pet food ice cream, and snacks. thecompany mostly concern milk product, snakes, and chocolate. Nestle is a food making compaythat will be founded in 1905 by Henri Nestle at Switzerland. The company provide therecustomer healthy and testy product. Nestle manufactures product quality is internationallyfamous brand like as NESCAFE, MAGGI, MILKBAR, KIT KAT, BAR-ONE etc products areprovided by company. The Nestle work for the providing customer food services and snakesservices. The company will be work for the customer satisfaction. The company will be providewild range services for the customer. The company will be work provide many products andservices for the customer satisfaction. The company also work for the employee and there skilldevelopment. Report will analyse and highlight importance of branding as a marketing tool.Furthermore, it will explain key components successful brand strategy, brands are managedcollaboration and partnership at a domestic and global level. Report will describe different brandstrategy of portfolio management. The brand management create the customers trust for goodand service, It helps to generate the revenue, increased markets shares, improve sale andproductivity. It will make a unique and interesting brand image. The branding as the marketingtool has emerged in the business organisation. Branding help recognises the organisation logo .The Branding supports the advertisement for the company development. The Branding helpcompany to inspire employee for the company development. The successful brand managementwork for the company improvement customer Target Audience, Brand promise, Clear vision forbrand perception, Brand value, Brand voice and Brand positioning. the brand value is defined thecompany image. the brand value decided company share and growth in the market and it alsodefines customer satisfaction. he companies Nestle use their product hierarchy according tocustomer need and requirement. he companies Nestle use their product hierarchy according tocustomer need and requirement. 1
LO1P1 importance of branding tool as a marketing toolBrand it is the thing which are used for the business marketing from which the NESTLEwould be attract to the customer towards them to increase their business. The organisation canpromote to their brands by advertising in front of the customer.Importance of the branding :-Branding is very important in order to change perception of consumers and attractingmore people towards brand. Product and services create consumer preference, increased revenue,marker share, productivity, profitability by commanding a higher price, attract new customer,inverter. The most important feature of the nestle is brand of the product. Because the brand ofthe product it may helps to the organisation to improve shares in the market, profitability, and inthe value of the business((Du Preez and Bendixen, 2015.). Branding requires a larger numberof the amount to invest but if once the organisation invested then it can be survive for the longterm in the marketThere are some another importance features of the branding which aredescribed below:-Itcreatesthecustomerstrustforgood and service- Ithelps to generate the revenue and increased markets sharesIt helps the company to saleproduct -Makes a unique and interesting brand image-There are larger numbers of productsare presented in the market due to which the consumer gets confused. While purchasing theproduct the customer prefer for the brand of the nestle because it can be trusted on the producteasilyIthelps to generate the revenue and increased markets shares-In that nestle use extensive marketing or branding that company market share andrevenue increase. The firm can become strong than before. It can help to enter new marketIthelps the company to sale product -When the product suddenly comes into the market customer can't believe on the productvery easily. The brand of the nestle which was very familiar with the customer in the market sothey can easily trust that firm because people must prefer nestle brand product2
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