logo

Brand management assignment - Nestle

   

Added on  2021-02-20

15 Pages5084 Words153 Views
Brand management

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1 :- Building and managing brands over time......................................................................1TASK 2 :- Analysing organization's brand portfolio strategy and managing the brand equity ......5organization's portfolio................................................................................................................5TASK 3 :- Brand Extension and leverage........................................................................................7TASK 4:- Different techniques for measuring and managing brand value...................................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONBrand management is a process to analyse what image the brand have in eyes ofcustomers when it reaches to the market. It is very important for every firm to make goodrelationship with customers by offering such products to them which they can accept as a brand.For this they target audience who are willing to purchase there product at a given price. Thepresent study is based on Nestle which is a Swiss multinational food and drink company foundedby Henri Nestle in the year 1866 headquarter in Switzerland and due to a huge market share it issixth largest Swiss company by revenue of 89791 million Swiss franc. The study will be base onimportance of branding as a marketing tool and what brand and brand equity is all about.Different strategy for strengthening brand equity, brand extension, reinforcing and revitalisingbrands have been studied in the report. Further the report includes Nestle's brand portfoliostrategy and hierarchy management of there brands. Strength and weaknesses of the companyaccording to brand leverage have been studied in the report which finally includes differenttechniques which can be used for measuring and managing brand value, brand awareness, marketshare, consumer attitude, and at last purchasing intent(Avery and Zaltman, 2019).TASK 1 :- Building and managing brands over timeBrand is powerIntroductionA brand is a product or service that distinguishes it from its competitors and helps the companyin easy communication and marketing. Brand name is the name of the unique product, serviceor a concept. Since, a brand name is the USP (unique selling proposition) of every company, itneeds to be protected by intellectual property right. IPR includes copyright, trademark, patentetc. Brands can be expressed in terms of logos or through graphical representation of brandname. The logo needs to be appealing and attractive and it must immediately catch the publicattention. One such brand is Nestle, the world's largest food group with more than 2000 brandsselling under its name in the market. Headquartered in Switzerland, Nestle was established in1866 as a milk company and as the years passed by, the company successfully established itsbrand name in the global market(Avery, 2016).Main BodyBrand equity is financial value of a brand. It can be tangible or intangible. Tangible financial1

value means contribution of brand in company's revenue and intangible value means strategicbenefits received by the company because of its brand. Nestle is a major food productioncompany that has its products sold all around the globe and the brand equity of the companyalso helps them in boosting their sales(Chiu and et.al.,2017).Aaker's brand equity model-Brand awareness: As the name suggests, brand awareness is the level of awareness andconsciousness a brand creates towards the consumers. It is the ability to attract acustomer in such a way that he ends up buying the product. Nestle has been successfulenough in getting the attention of its consumers because of the unique product name andtag lines. The company has built a strong image in people's mind and they are alwayscurious to purchase any new product that company launches(Chiu and et.al., 2017).Brand loyalty: Brand loyalty is the pattern by which the consumer gets committed andloyal to a specific product or service. There are consumers who have been loyal toNestle for almost their entire lives. The products that people are most loyal to areNestle's baby food, chocolates, Maggie, bottled water, coffee etc(Gürhan-Canli, Hayranand Sarial-Abi, 2016). In order to retain its consumers the company also offers attractiverebates and discounts.Perceived quality: Perceived quality is the customer's perception towards the product.The perception can be about manufacturing quality, product based quality or objectivequality. Nestle as a brand has never compromised on its quality. Maximum customersatisfaction has always been company's priority(Zheng and et.al., 2015).Brand associations: Brand association is anything that has been deep rooted incustomer's mind about the brand. The brand should be associated with somethingpositive and its values and beliefs should relate with the customers. Nestle has a strongbrand association with its customer and this is what induces them to buy Nestleproducts.Other proprietary brand assets: Other proprietary brand assets include patents,trademarks, copyright and channel relationships. These are important as they preventNestle's competitors to copy their brand name, logo, idea or tag line. This gives thecompany a competitive advantage and it helps them in retaining their customer base.Successful strategy for brand extension can be done by using Ansoff's Matrix-2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
BRAND MANAGEMENT INTRODUCTION
|17
|4833
|214

Brand Management: Building, Leveraging, and Merging Brands
|12
|3990
|30

Brand Management - Optimum Impression Limited
|18
|5647
|286

Brand Management INTROUCTION 3 TASK 13 a) Building and managing brand portfolio and Hierarchy management 5 TASK 13 a) Building and managing brand over time 3 TASK 13 b) Brand Portfolio and Hierarchy m
|16
|5227
|373

Business Organisations and Environments in a Global Context Assignment Solution
|15
|3303
|309

Brand Management In Marketing
|24
|6964
|465