Brand Management: Strategies and Tactics for Building and Managing Brand Equity

BRAND
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY ..................................................................................................................................3
LO 1.................................................................................................................................................3
P1- Explaining value of branding as a marketing tool and why & how it has emerged in
practices of business....................................................................................................................3
P2 Analysing key elements of a successful brand tactic for building and managing brand
equity...........................................................................................................................................6
M1 Evaluating how brands are managed appropriately over time utilizing application of
appropriate models, theories and concepts..................................................................................8
M2 Applying validated examples within an organizational context...........................................8
LO 2.................................................................................................................................................9
P3 Analysing varied strategies of portfolio management, brand hierarchy and brand equity
management................................................................................................................................9
M3 Critically analyse portfolio management, brand equity and brand hierarchies using
suitable frameworks and models...............................................................................................10
LO 3...............................................................................................................................................11
P4 Evaluating how brands are managed collaboratively and in partnership both at a domestic
and international level...............................................................................................................11
M4 Critically evaluating utilize of several techniques used to leverage and extent brands......12
LO 4...............................................................................................................................................12
P5 Evaluating different kinds of techniques for measuring and managing brand value using
particular organizational examples...........................................................................................12
M5 Critically evaluate application of approaches for measuring & managing brand value in
relation to develop a strong and enduring brand.......................................................................14
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Brand management is defined as function of marketing that utilizes effective techniques
and approaches to increase perceived value of a service or product over time. It is a set of
methods that a marketer used to gain a lot of benefits which is beneficial for their company as
well as other stakeholders. The current assignment will be based on Morrison's, which falls
under list of top 10 supermarkets in the UK. The study will explain significance of branding as
marketing tool and how & why it has emerged in venture practices. It will justify key elements of
successful brand tactic of building and managing brand equity and will also define varied
strategies of portfolio management, brand equity and brand hierarchy management. Furthermore,
the report will justify how brands are managed collaboratively and in partnership both at a
national & international level. Lastly, the study will clarify evaluation of several kinds of
techniques for managing and measuring brand value in context of chosen company.
MAIN BODY
LO 1
P1- Explaining value of branding as a marketing tool and why & how it has emerged in practices
of business
Branding is described as one of marketing practices that helps to create and shape a brand
in effective and systematic manner (Herzog and et.al., 2020). It may also define as process of
creating a strong and the most influencing brand image, which assist to gain the attention of new
consumers. Effective branding in return provides useful and beneficial outcomes as it help
organizations such as Morrison's to differentiate themselves from its rivals that has been
operating in same sector for longer period.
Importance of branding-
Branding is quite important process or activity that has been used by many marketers as
effective marketing tool. In context of Morrison's, this procedure is significant because it helps
company to make a unforgettable impression upon target customers. Along with this benefit,
branding help to determine a service or product and distinguish it from other items that are
offering by other brands (Stošić-Mihajlović and Trajković, 2020). It provides unexpected
outcomes of marketers in term of increasing customer base, profitability, productivity and sales

level even better than last few months or years. It changes the perception of buyers towards
Morrison's and drive them towards purchase, which turns into increase sales.
Branding is absolutely important in context of organization because it put positive impact
on overall brand (Anjali and et.al., 2020). With the help of this marketing tool, marketer may
allow customers to recognize firm and its quality products. While thinking to strengthen brand to
maximize market share, supermarket may use this tool which made company able to strength its
business in term of generating strong brand awareness in market, which help to gain the attention
of investors. It gives credibility, lead to consumer loyalty and help organization to stand out in
saturated market. Branding is one of those marketing tools that help ventures and marketer to
generate market share and maximized revenues, which is quite important for brand to increase
(Ardhanariswari, Probosari and Wijayanti, 2020). In recent time, each organization with retail
sector give touch competition to each other and that situation branding play vital role in term of
supporting firm to survive for longer and handle temporary issues. Not only for ventures, it may
also help to increase the productivity and performance level of employees. For example, when
Morrison's attempts to establish great brand image in market, its workers many also wants to
work for it, in order made firm more stronger than even. Branding is quite necessary because it
helps enterprise to drive the attention of trustable and loyal distributors who may contribute to
sell products in bulk.
Why and how it has emerged in context of business practice-
Branding is emerged in business practices because of intensive competition and
increasing competitive rivalry, it is one of those reasons that drives the attention of organization
towards conducting this practice in effective and systematic manner (Bobo, Mudombi and Gopo,
2021). It begins in ancient time, but major shifts took place in 19th and 20th centuries. Through
years of technological advancement and experimentations, companies whether small or large
attempts to learned how to break through capture and clutter attention of new consumers and
retain existing one for longer. Branding is begun in the 1500s as marketing practice and still
using in same manner but by using advanced technologies, which provides excellent chances to
organizations like Morrison's in context of generating awareness about own ventures all over the
world.
Keller's brand Equity model-