BRAND MANAGEMENT INTRODUCTION.3 TASK 14 P1 Explain the importance of branding as a marketing tool and why and how it has emerged in business practice.4 P2 Analyse the key components of a successful brand strategy for building and managing brand equity .5 M1 Evaluate how brands are managed successfully over time using application of appropriate theories, models and concepts. .6 M2 Apply appropriate and validated examples within an organizational context 6 D1 Provide a critical evaluation that is supported by justified evidence