Brand Management: Importance, Strategy, and Portfolio Management

Brand management

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
P1 Explain the importance of branding and how it emerged in business practice.................1
M1 Evaluate how brands are managed successfully over time using....................................3
P2 Analyse the key components of a successful brand strategy for building and managing
brand equity............................................................................................................................4
M2 Apply appropriate and validated examples within an organisational context.................5
TASK 2............................................................................................................................................6
P3 Analyse different strategies of portfolio management, brand hierarchy and brand equity
management............................................................................................................................6
M3 Critically analyse portfolio management, brand hierarchies and brand equity...............7
TASK 3............................................................................................................................................8
P4 Evaluate how brands managed in partnership both domestic and global level.................8
M4 Critically evaluate the use of different techniques used to leverage and extend brands..9
TASK 4............................................................................................................................................9
P5 Evaluate different types of techniques for measuring and managing brand value using
specific organisational examples............................................................................................9
M5 Critically evaluate application of techniques for measuring and managing brand value10
D1 Critical evaluation justified evidence demonstrating a comprehensive understanding of
branding................................................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Brand management is a basic function that is performed by marketing department
through which perceived value and market attentiveness both get increased in sustained manner.
It enables to build strong and loyal customer base through which adequate awareness is
processed within the competitive marketplace (Schott and et. al., 2017). It is perceived within the
business as per standardisation of suitable objective, target, vision and mission through which
ability to attain long term sustainability is perceived in balanced mode. The report below is based
on Waitrose is a supermarket company and it was founded in 1904 as Waite, Rose and Taylor.
The company has worked with food products and have looking forward to expand its business in
UAE in next year. The report below comprise of understanding about brand to manage over
time, organised in portfolio and its hierarchy, leverage over domestic and international market
and different technique to measure and manage brand value over time.
MAIN BODY
TASK 1
P1 Explain the importance of branding and how it emerged in business practice.
The branding is basically a marketing tool that is used by an organisation in order to
formulate, design, name and symbol of business so as to make easy for the customer to
recognise. It makes the business the different from the other business that has worked within
similar sector and offered similar products and services. Branding is an aspect with this working
experience and overall reputation of the business gets advanced that has direct impact over the
enhancement of sale and profit in appropriate manner (Milroy, 2019). The customer have lot of
options within the competitive marketplace and for that get switch as per their suitability in this
if business want to attain long term success and growth it is necessary to make their products and
service different from its competitors. In this Waitrose adopts branding to advance its
advertisement, promotional, suitable customer service, logo, symbol and reputation. It assist the
company to grab attention of more of customer and in order to build strong impact over
marketplace different aspect is as explained below as:
 Eye-catching brand name
 Brand logo i.e. a precise brand name with image.
 Brand memo and motto
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 Position and status of brand in market
 Brand packaging linked with brand practice
It is required for business to achieve desirable success and growth for this business uses
branding and its relative technique through which acquiring of success and development
perceived with attentiveness (Beverland, 2021). Waitrose have worked to induce higher profit
and sustained brand awareness that is processed by management as per consideration of
advancement of customer satisfactory level. There are different benefits of branding it is as
explained below as:
 Advance Company’s gratitude: The market recognition is only processed if more of
customers have knowledge and idea about the presence of business. In this management
has developed suitable logo that reflects identification of business in marketplace and
company get recognize with the similar icon. It facilitates the attractiveness of more
customers over regular period of time.
 Build trust in market: The trust is developed as per mutual understanding in between
the customer and company and it is processed as per the quality consumption and
favoured profit. It enhance the suitability of business in marketplace and for this
management of Waitrose assure to develop trustworthy relation so that more of customer
feel safe and secure over longer period of instance.
 Increase market share and profits: The market share is dependent on the likeliness of
customer towards offered goods and service of the business (González-Mansilla,
Berenguer-Contri and Serra-Cantallops, 2019). In this Waitrose and its management
ensure to provide continuous basis services so that customer get connect with business
over regular period of time through which market share as well as profit of business get
enhanced.
The branding is also being emerged with the wider business practice within Waitrose and it
is as explained below:
 The manager of business worked on to develop effective relation with the customer as by
identifying the need and requirement and as by fulfilling the same.
 The mission of branding is processed with support of objective of business so that
suitable ideology is developed in creation of market awareness.
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