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Various Components of Brand Management

   

Added on  2020-06-06

19 Pages6596 Words433 Views
BRAND MANAGEMENT

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Various marketing tool and its importance............................................................................1P2 The different components of brand strategy and handling brand equity...............................3TASK 2............................................................................................................................................5P3 Various strategies of portfolio management, brand hierarchy and equity management........5TASK 3............................................................................................................................................7P4 Brand managed collaboratively and in partnership like domestic and global level...............7TASK 4............................................................................................................................................9P5 Various types of techniques for measuring and managing....................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONIn today's world the competition is on the peek side and many other companies are tryingtheir level best to keep their brand in market and to earn higher profit and although firm alwaysbring quality products and services to their customer. The marketing part and its tool is thatwhich help to analyse positioning and customers perception etc.. Therefore, concept is such andits numerous aspects does also include the various thing like costing, satisfaction of customerand supply/demand. Hence, brand also leads to sometime like placement and advertisingsomewhere this thing help to bring the brand image and this also make a positive aspect inmarket part (Ashworth and Kavaratzis, 2010). All such thing also make firm to get their goal andobjective in better manner and make their firm more stable in market place for longer period ofscenario. The report is based on ZARA and it is a clothing store which is founded in year 1974by Amanico Ortega and somewhere company is having around 2266 stores in many countries.Assignment will discuss about various strategies is required and bringing marketing tool,portfolio management and brand hierarchy as well moreover, brand is that which is beingcollaborated and type of measuring techniques can be done. TASK 1P1 Various marketing tool and its importance.To achieve P1, please answer the questions....What is a brand? Why is branding an important marketing tool? What does brand equity means? How is a brand differs from a product?Don't use Zara in Task 1, P1, will be use in TASK 2.Brand is that which play a effective role for organisation and thus it is somewhere a keyelement as well which help to bring a positive image of brand and represent image of firm andmanufacture the quality product and services in better manner. BRAND:- Brand identification can be in form of name, logo and its image in market aswell. For recognition in the minds of customer the entity uses various marketing tool which plays

a efficient role and this make a great lifelong picture of company and brand in minds of differentconsumers (Bigné, Currás-Pérez and Aldás-Manzano, 2012).Branding is seen as crucial aspect and thus it is a marketing process and of product andservice. In today's world it is like every product is such which has several rivalries in market andby different companies as well. This is being a fight for the consumer and thus it is kind of fiercealthough competition is such which helps in cut throat competition. Brand equity:- It is something from which the power is being derived from the goodwilland also name recognition is there which is earned over time in right contrast as well, which isbeing translated into the higher level of sales volume and higher profit and margins is also madeagainst the competing brands in correct way. Through, such thing difference in between the brands can be made easily moreover,marketing tool thus also help to increase sell of their product and services with whichorganisation will able to attain its goals and objectives. Different tool of marketing are asfollows: Brand create trust: Branded company which is serving million of people with theirproduct and service which is making company to earn higher amount of earning in bettermanner. Trust is that which has to be created by firms in the minds of customers by providingthem quality product and services in better manner. Trust is like providing great quality in goodsand services and thus firms know that customer are rationale in nature and they need qualityproduct in consideration for amount they are paying. Having such thing bring a trust level oncompany and giving many more extra services to their consumer in better manner. Although thishelp firm to create a better and proper relation with their client and through all they also try toattract many more customer as well (Brodie and et. al., 2013). Advertising and brand: Marketing is such which make company to advertise theirproduct and services to large market in proper way. Although this thing help firm to cover thelarge market and population so that people can get aware about availability of different productin market. This concept does also attract many more customer towards the company and theirproduct and services in right contrast. Brand is using a marketing devise for making aware tolarge customer that firm is introducing a new innovation in product and services and any otherinformation as they are brand so it is required to provide information about the their product tolarge market. Advertising does support the brand and this makes them to earn higher profit and

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