Brand Management Assignment - Samsung and Sony
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Added on 2020-07-22
Brand Management Assignment - Samsung and Sony
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 its emergence ...........................................1P2 Different components of brand strategy and handling brand equity......................................3TASK 2............................................................................................................................................5P3 Different strategies of portfolio management, brand equity and hierarchy management......5TASK 3............................................................................................................................................6P4 Brands are managed collaboratively and in partnership as well............................................6TASK 4............................................................................................................................................9P6 different tools and technique for evaluation and management of brand value......................9REFERENCES .............................................................................................................................11Books and journals....................................................................................................................11
INTRODUCTIONIn this modern world, the competition is on the peek side and in such situation companiesare working hard to compete so that they can earn higher amount in better contrast as well. Thereare various marketing tool is that which make them to analyse various position and customerperceptions as well. Although, different and numerous view also consider several things likecosting, supply and demand and customer satisfaction as level (Ashworth and Kavaratzis, 2010).Moreover, placement and advertising is such which make company to bring out a positive imagein the market area. The report is based on Samsung and Sony which deal in electronic items fromlast so many years and satisfying million of people with their product and service. Organisationis having various stores around the world. Samsung founded in year around 1938 by LEEBYUNG-CHUL and Sony was founded in approx. 1946 by MASARU IBUKA and AKIOMORITA. Assignment will include different strategies which is required to bring a marketing
tool in proper way and thus it will allow to use the portfolio management and brand hierarchy aswell. Although it is such which collaborates the several kind of measuring techniques throughefficient working can be done in time period. TASK 1P1 Importance of branding as a marketing tool and its emergence Brand:The term “Branding” is a kind of marketing strategy that deals in creating unique image and name of the product in the minds of target audience, mainly via advertising or promoting campaign. Their main aim is to develop a differentiated and significance presence in the market place that retain and attracts loyal consumer (Bigné, Currás-Pérez and Aldás-Manzano, 2012). Insimple words, brand is a design, symbol, logo, term or combination of all that distinguish the product from competitor's product. In today's competitive world, where thousands of products are available in the market that satisfies the needs and wants of consumer, a brand maintains unique position in the market that makes easier for an organisation to attract attention of potential buyer. In general a brand name can generate & stand for trust, faith, mass-market appeal, loyalty, depending upon how it has been advertised, promoted or marketed. Importance of branding as a marketing tool: It is an essential aspect of marketing process of any goods and services. In today's era, every product has ample competitors who also provide the same product as they does. Branding not only deals with getting target market, but it also assist in giving competitive edge to company over their rivals by making them the sole-provider of specified goods or services that fulfils the desire and needs of buyer in a significant manner. From the last 79 years, Samsung is fulfilling the requirement of their target customer by offering unique products (Brodie and et. al., 2013). With the help of branding, Samsung is able to understand the likes and dislikes of their consumer in an effective and efficient way. For instance, For its S8 Galaxy their new brand strategy is “The new normal” which aims at designing iconic identity. They keep changing their business practices as per the demand of customers. Listed below are the importance of branding: 1.It encourages recognition: With the help of Branding, Samsung can hold its distinct position in the market place as compared to its competitors. It has been figured out that, customer buys product and services from the company, who owns strong goodwill and
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