Brand Management: Importance, Strategies, and Success

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Explain the importance of branding as a marketing tool and why and how it has emerged in
business practice.........................................................................................................................3
Evaluate how brands are managed successfully over time using application of appropriate
theories, models and concepts.....................................................................................................5
Analysis the key component of a successful brand strategy for building and managing brand
equity...........................................................................................................................................5
Apply appropriate and validated examples within an organisational context.............................6
TASK 2............................................................................................................................................7
Analyse different strategies of portfolio management, brand hierarchy and brand equity
management................................................................................................................................7
Critically analyse portfolio management, brand hierarchies and brand equity using appropriate
theories, models and frameworks................................................................................................9
TASK 3............................................................................................................................................9
Evaluate how brands are managed collaboratively and in partnership both at a domestic and
global level..................................................................................................................................9
Critically evaluate the use of different techniques used to leverage and extend brands...........11
TASK 4..........................................................................................................................................12
Evaluate different types of techniques for measuring and managing brand value using specific
organisational examples............................................................................................................12
Critically evaluate application of techniques for measuring and managing brand value in
relation to developing a strong and enduring brand..................................................................13
CONCLUSION .............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
In today's lives, brands are seen in stores, television, billboards and on internet. For the
people brand are not just a name but an identification and emotion that made them to buy the
project. Many organisation have observed branding as the valuable aspect, but they are fail to get
full understanding of branding for their business. Thus, Branding management is a practice and
function of the marketing for harnessing the market value of a product over a time(Al-Zyoud,
2018). The underlying report outlines and structured to understand how brand is built and
managed to gain the advantage of the uniqueness in business within the targeted market by using
various tools and techniques for maximising the brand value. Moreover, the following report
also analysed how an organisation is managing the brand in their product portfolio. In order to
support finding, Lidl GB store Store is being undertaking in the assessment for measuring and
managing brand equity, brand strategy and brand value.
TASK 1
Explain the importance of branding as a marketing tool and why and how it has emerged in
business practice
Branding is a marketing function and practices in which company separate its product
portfolio by creation of particular name, symbol and design that is easily identifiable for their
potential customers. Lidl GB store store is the leading food retailer in the UK with a more than
800 stores with more than 22000 worker working in 13 different regional territory across the UK
Branding helps the company to gain publicity by the word of mouth due to their incredible
market value and presence (Mourad, Meshreki and Sarofim, 2020). Lidl GB store store choose
branding of their product not only to get ahead their competitor but the ultimate aim to built a
business agenda that they are the lone warrior in the market to solve consumer problem and
need. Some of the importance of the branding for the Lidl GB store stores are as follows:

(Source: BRAND ESSENCE WHEEL, 2020)
 Trust building with branding:
People often loves to shopping with a company that has polished and professionalism strategies
for their product. Thus, a well structured branding strategies enables Lidl GB store store to build
the trust with their potential customer (Budur, 2018). Moreover, when a company succeed in
building trust with their targeted consumer, consumer do not feel to hesitate to spend their money
on that brand.
 Market recognition improved with branding:
One of the foremost role of branding for Lidl GB store store is to get market presence due to
their unique service in the food retailing. Branding helps the company to get the market
recognition. Company logo and symbol helps the consumer to separate Lidl GB store Store
product from underlying product range. Branding works as the face of the company.
 Branding as a tool for motivating employees:
Every job seeker loves to mentioned a reputed brand name in their resume to enhance their
value. Therefore, when an employee work for a brands that will truly inspired them to work for
the brand and grow with brand. Lidl GB store store have more than 22000 workforce. Moreover,
positive branding of the company comes in from of more enthusiasm of the employee . When
Lidl GB store store offer their merchandising to their employee, it allows them to build a feeling
of self-belonging in the mind of their employees.
 Branding helps in attracting new customer:
Illustration 1: BRAND ESSENCE WHEEL, 2020