Brand Management: Importance, Strategies, and Examples

This document provides an overview of brand management, focusing on the importance of branding as a marketing tool and how it emerged in business practices. It discusses strategies for portfolio management, brand hierarchy, and brand equity management. The document also includes examples of successful brand management and techniques used to extend brands. The case study of Tesco plc, a retail business dealing in groceries and general merchandise, is used to illustrate the concepts.

Brand Management

Table of Contents
Table of Contents.............................................................................................................................2
Introduction......................................................................................................................................3
Background of organisation...................................................................................................3
LO 1.................................................................................................................................................3
P1) Importance of branding as marketing tool and how it emerged in business practices....3
P2) Building and managing brand equity...............................................................................5
M1) Evaluation of how brands are managed over time.........................................................7
M2) Appropriate example within organisational context.......................................................7
LO 2.................................................................................................................................................8
P3) Strategies of portfolio management, brand hierarchy and brand equity management....8
M3) Critical analysis of portfolio management, brand hierarchies and brand equity............9
LO 3...............................................................................................................................................10
P4) Brand management through collaborations and in partnership.....................................10
M4) Use of techniques to leverage and extend brands.........................................................11
LO 4...............................................................................................................................................13
P5) Techniques for measuring and managing brand value..................................................13
M5) Critical evaluation of application of brand valuation techniques.................................15
Conclusion.....................................................................................................................................16
References......................................................................................................................................17

Introduction
Brand management is a process which helps in building, managing and improving a
brand through marketing activities which help in increasing the perceived value of a product or
service for the customers so that the sales can increase. Through improving a brand image in
market the loyalty of customers towards the company can increase which can also help the
company in increasing its prices so that more profits can be earned. Brand management is thus
important for gaining a competitive advantage in market so that profitability can be increased
(Ande and Natarajan, 2017). In this report, Tesco plc is taken which is a retail business that deals
in groceries and general merchandise and is headquartered in England, UK. The company has its
international branches in more than 7 countries and is the third largest retailer in the world
measured by gross revenue. In this report the importance of brand management, strategies of
portfolio management, brand equity management, techniques used to extend brands etc. will be
discussed so that an overall knowledge related to managing and measuring brand image in
market can be developed.
Background of organisation
Tesco plc is a British multinational company which deals in groceries and general
merchandise and has its headquarters in England, UK. Tesco is the world’s 3rd largest retailers in
terms of gross revenue and 9th largest in terms of revenues. It employs over 450,000 employees
and is the UK’s largest private sector employer. The company also has a market share of about
28.4% in UK and it deals in more than 7 countries. Brand management plays an important role in
the success of Tesco which means that it should include strategies that can help it in
strengthening its brand so that more profits can be earned.
LO 1
P1) Importance of branding as marketing tool and how it emerged in business practices
Branding helps in creating a reputation or image of company in market so that it becomes
identifiable amongst other companies which help in increasing the value for its customers and
also in creating loyal customers. Branding is also important as a marketing tool as it help in
making marketing easier so that new customers can be acquired and sales of company can
increase. Brand relates to building a perception amongst customers which help Tesco in

attracting more customers due to their perceptions related to increased value for money spent. In
order to develop a brand following steps needs to be followed:
 Conducting a brand audit: It is related with researching the audience, competitors and
value proposition which can help the company in determining the product for which
brand image needs to be created. It help in formulating strategies that can help in brand
creation in market (Baalbaki and Guzmán, 2016).
 Establishing unique value proposition and message: It relates with identifying the
values which the company products or services will create for the customers so that brand
image can be built by focusing on the unique brand proposition.
 Developing brand’s creative elements: It means developing a brand in an attractive
manner so that it can be marketed through various channels like websites, social media,
advertisements etc. so that customers can be attracted.
 Implementing strategies to establish brand identity: It is related with implementing
strategies so that brand awareness can be increased and it can grow and develop in
market (Brooks and Anumudu, 2016).
 Analyse and refine brand identity: In order to remain competitive in market it is
important that the brand value proposition for customers should be updated so that new
demands of customers can be efficiently fulfilled through its products.
Brand pyramid is a model which details about the steps through which a customer establishes
brand loyalty to a particular brand like Tesco.
Source: Brand pyramid .2017

 Features and attributes: It relates with the qualities ad attributes of the products so that
they can satisfy certain needs of customers.
 Functional benefits: It relates with the needs that the customers can expect the products
to fulfil and the problems of customers which the product can solve.
 Emotional benefits: It relates to how the customers feel after using a product which can
help in gaining emotional value for them (Burmann and Schade, 2017).
 Brand/Product persona: It relates to the unique value proposition which the brand is able
to achieve for a person.
 Brand idea: It relates with how it is different from other competitors which help in
differentiating the brand from others.
Thus the brand image help in creating brand loyalty among customers so that the revenue
potential of Tesco increases. Tesco is known for increasing customer satisfaction by providing
them products at high quality so that their value for money and standard of living can increase. It
also helps intermediaries of Tesco in raising their prices which help in increasing their revenue.
P2) Building and managing brand equity
Brand equity is the additional premium which a company is able to generate from a
product because of its brand image in the market. Tesco create brand equity by providing high
satisfaction to customers through high quality and reliability of its products. Brand equity can be
built by a company by introducing a quality product in market which can help in attracting more
number of customers, monitoring the trends and competitors so that better products than their
competitors can be delivered in market, building a consistent brand image by providing
consistent positive value for customers, consistency of brand messaging which help in increasing
the brand awareness and finally capturing customer feedback so that positive responses can be
given to them on time. All these steps can help in building brand equity in market for company
products (Chinomona, 2016).
Marketing plays an important role in building brand equity by creating awareness about the
company in the market through promotional and advertising activities of company. It also helps
in positioning the brand in market though the effective use of marketing mix so that more
number of customers can buy the products. Keller’s brand equity model is also known as the
customer-based brand equity model (CBBE) is a pyramid which helps in understanding the
customers and implementing strategies in such a manner that high customer satisfaction can be

achieved. This model helps the businesses in increasing positive relations of customers with the
brand so that they can reach to the topmost level of the pyramid:
 Brand identity: At this level the customers are able to identify the brand of a company
and distinguish it from other competitors so that a strong awareness of brand is created.
 Brand meaning: At this level customers start associating meaning to the brand as it
satisfy their needs through their high performance and add value for them (Choi, Ko and
Kim, 2016).
 Brand response: On this level the feelings and judgements are hard to separate and may
vary from each customer with the brand being more important to one customer than the
other.
 Brand resonance: At this level customers become loyal to the brand and also they
advocate the merits of using the brand to others which help in spreading good word of
mouth for the brand.
Source: Keller’s brand equity model .2020
Another model that can help in building brand equity for Tesco is Aaker model which was
developed by Professor David Aaker of the University of California who considered that brand
equity is a combination of brand awareness, brand loyalty and brand associations which together
help in offering value to customers. There are five components in this model which control brand
equity:
 Brand awareness: The extent to which brand is known among public so that they can
relate to brand.

 Brand loyalty: The extent to which people are loyal to a brand which can be measured
through reduced marketing cost, trade leverage, attracting new customers etc.
 Perceived quality: the extent to which brand is perceived to provide high value for money
spent which can be determined by the level of differentiation, price etc.
 Brand associations: It relates to feelings associated with a brand, the ‘feel-good factor’,
number of available brand extensions and differentiations.
 Patents, IP and trading partners: Brands that have high proprietary rights have
competitive edge against other brands.
Brand extension is a strategy which is used by companies to launch new products under
popular brand names so that favourable response can be achieved from customers that helps in
minimising the risk associated with launching an entirely new brand and maximising the profits.
Thus the brand equity of customers can also be strengthened which can help in making
customers loyal towards company (France, Merrilees and Miller, 2016). Brand reinforcement is
related with maintaining brand equity by effectively monitoring the product at all the levels of
product life cycle and innovating the products so that changing needs of customers can be met
efficiently. Brand revitalisation is related to marketing strategy that helps in boosting the brand
image of a product after it has reached the maturity stage of PLC. Innovation can help in
improving the features and attributes of product so that demands of customers are satisfied
through improved products (Kim, 2016).
M1) Evaluation of how brands are managed over time
As the companies operate in dynamic markets where competition and taste and preferences
of customers keep on changing, it is important that the brand image of company is efficiently
managed. Increasing the brand awareness in market, innovating the brand so that new attributes
and features are added which can help in satisfying customers, revitalising brand over time etc.
can help in managing the brand image over time. Tesco can use the CBBE model so that the
brand equity can be increased through increase in customer loyalty over time.
M2) Appropriate example within organisational context
In order to successfully build and manage brand equity in Tesco the company provides
high quality products and services to its customers which help in increasing the loyalty of
customers. It use brand extension so that it can expand the number of products offered in the
company so that customers can be attracted to purchase from company. The company also use

Keller’s brand equity model so that to manage its equity in market which help in increasing its
customer loyalty so that the profits of company can be increase through increased sales.
LO 2
P3) Strategies of portfolio management, brand hierarchy and brand equity management
It is essential to manage the brand effectively so that long term benefits can be gained by
company through the brand in market. Brand crisis are well publicized claims of
unsubstantiated or false brand propositions which can damage the brand image in market. It is
important that the companies take effective steps in overcoming brand crisis by positively
dealing with the issues or problems faced by the customers. Also the company can make use of
social media to increase their connection with customers so that a positive brand image can be
developed and their issues can be well addressed. Interaction with customers is important so as to
improve the brand awareness in market and also in building customer relations so that their
loyalty can be achieved (Kotsi and Gottlieb, 2018).
Brand portfolio strategy is related with establishing and managing a portfolio of brands
in such a manner that returns can be maximised and equity can be built in customer markets.
This can help Tesco is effectively managing its brands in market so that customer can be
attracted and high profits can be earned by it. There are two strategies of managing brand
portfolio: House of brands and Branded house. In branded house strategy the firm is the brand
and any sub-brand do not detract from main brand which help the company in building a strong
brand in market like Apple, Google. House of brand strategy on the other hand promotes sub
brands rather than the company like P&G, Unilever etc. Hybrid brand strategy is also used by
companies which is a mixture of house of brand and branded house strategies so that maximum
advantage can be achieved by each brand like Coca Cola, Marriott etc. Tesco use branded house
strategy which helps it in building a string brand image in market.
Following are the brand hierarchy levels based on the way products are branded:
 Corporate brand, umbrella brand and family brand: These are the consumer facing
brands which are used across all the activities of a firm and are well known to all the
stakeholders like Heinz, Virgin Group etc.

 Endorsed brands and sub-brands: In this the products are branded as endorsements of
parent company so that parent company can be prevented against reputation risks like
Nestle, Cadbury dairy milk etc.
 Individual product brand: In this individual product brands are promoted and the parent
brand is given little or no prominence like P&G, Unilever etc.
Brand equity can be built by a company efficiently identifying the manner in which
branding of its products will be done in the market by managing the brand portfolio so that
customers can be attracted towards the products of company. Building a brand hierarchy is a way
of using corporate brand equity to creating brand recognition in the market. A product of a
company can be branded in different ways depending on how many new and existing brand
elements are used and how they are combined for any one product.
Based on the customer based brand equity model the brand equity can be built from the
brand hierarchy. The companies must use strategy in such a manner that the levels of CBBE
model can help in creating effective brand image for customers (Lin and Chuang, 2016). This
helps them in identifying and distinguishing a brand, associating importance to the brand,
positively responding towards the brands and finally resonating with the brand. Tesco use
corporate brand strategy which helps it in creating awareness in market related with company
and its products so that a distinguished image can be built in market.
Market research is an important tool in brand management as it helps in knowing about the
customer needs and competitor’s strategies in dealing with their customer so that the company
can formulate effective strategy to create a brand image. It also helps in developing a brand
portfolio so that customers can be attracted towards all the products of company. It is important
that Tesco use market research so that effective branding strategies can be developed which can
help in creating a wide spread awareness of Tesco and its products and dealing with its
competitor like ASDA, Sainsbury etc.
M3) Critical analysis of portfolio management, brand hierarchies and brand equity
It is important for Tesco to efficiently manage its brand portfolio so that all the brands
under its portfolio can be effectively managed and the brand awareness for all the brands can
increase in market. Tesco uses corporate brand hierarchy in order to build its brand equity in
market and with the use of Keller’s brand equity model; it efficiently manage its brad image so
that high customer loyalty and competitive advantage can be achieved. It is important that the

brand equity is managed in market which can help businesses in taking positive advantage of the
brand image in market.
LO 3
P4) Brand management through collaborations and in partnership
In order to manage a brand following approaches can be followed by Tesco so that it can
reach to its target customers in an effective manner:
 Economic approach: This is an approach which is used by companies so that they can
attract their customers through prices.
 Identity approach: In this approach the companies try to create their identity through
storytelling in marketing so that customer decisions can be influenced. Same kind of
people affects the same kind of people-positive reference.
 Customer-based approach: In this approach the company focus on customer behaviour
so that they can be offered products as per their needs and wants.
 Personality approach: In this the products are shown to be used in movies, music videos
etc. so that the customers can be convinced to buy same products.
 Relational approach: In this the companies try to make a dyadic relationship with their
customers so that they can feel companionship with its products.
 Community approach: In this approach ethnography and community theories are used so
that customers can be clarified on what they should purchase.
 Cultural approach: This approach focuses on the affect which brands create on culture
and vice-versa so that a culture of using the company’s products can be created.
Brand partnership or co-branding is a marketing technique which helps in transferring
the success of one brand to the partnered brands. Brand partnership can also help in increasing
the customer base by offering them with varied products under a brand name so that
diversification can be achieved and more value can be added for customers. Following are the
ways in which co-branding can be done:
 Ingredient co-branding: It involves creating brand equity for materials, components or
parts that are contained within other branded products for example Dell computers use
this strategy with Intel processors.

 Same company co-branding: It involves co-branding products from within the same
company like HUL can promote packet of Knorr soup with a packet of Bru coffee.
 Joint venture co-branding: It is between a merchandising company and a financial
institution which produce debit cards so that offers can be given by merchandising
company on a particular debit card.
 Sponsorship co-branding: It is related with sponsoring a brand so that branding of
sponsoring company can also take place.
Brand collaboration on the other hand is a strategic alliance between two or more brands
so that a unique product or service can be developed and competitive advantage can be gained in
the market (Moorthi and Mohan, 2017). Brand collaboration help the businesses in dealing with
wide range of customer tastes and preferences and dealing with changing market conditions so
that companies can efficiently compete in market. It also helps in increasing the brand portfolio
and increasing the number of products which can be offered through brand collaboration thereby
satisfying needs of customers.
Global branding is related with increasing the brand image of a company in different
countries with similar and centrally coordinated marketing strategies. Tesco can use global
branding strategy so that it can create awareness about its brand in other countries so that it can
efficiently deal with customers and improve its brand image internationally. In order to position
its brand globally it is important that the company is efficiently able to fulfil the customer
perceptions which help in increasing their sales globally. It also help in improving the global
brand image of company and high value is attached to the brand globally which can help in
increasing the profits of company (Raji, Mohd Rashid and Mohd Ishak, 2019).
M4) Use of techniques to leverage and extend brands
A brand extension occurs when company use the name of already established brand to
launch new product under the same brand which can help it in minimising its risk of introducing
a completely new product and maximising the attraction of customers. Following are the
approaches of brand extension:
 Brand Line extension: In this the parent brand is used so as to launch a new product
under the already established parent brand so that new market segment can be targeted
like Head & Shoulders.

 Brand Category extension: In this the parent brand is used so as to enter a new product
category which can help in diversifying the products offered by company like ITC.
 Product extension: It is a strategy under which an established product’s brand name is
placed on a new product which is in the same category like Oreo which offers its
products in different flavours under same product name.
Before making brand extension it is important that the customer’s intent to purchase the
products is analysed so that the benefits of leveraging a brand name can be taken. The market in
which products are to be offered by company should be researched and analysed before
extending their brands so that risks can be minimised and profits can be increased. Fit and
leverage allows measuring the intent of customers of purchasing the brand so that decision
regarding brand extension can be made (Melewar and Skinner, 2018). This help in analysing the
category of products the customers are ready to purchase so that teh products which are fit for
extension are introduced in market so that a competitive edge can be gained by company.
Leverage can be achieved through brand extension if the product can help in satisfying a new
need of customers which can help in making the brand extension successful. Ansoff matrix can
be used by Tesco in making efficient decisions regarding strategies related to reaching their
target market:
 Market penetration: This strategy focuses on increasing sales in existing market by
offering existing products which can be done through increased marketing, discounts,
offers etc.
 Market development: This strategy is related with offering same products in different
market so that market base can be increased which can be done by expansion.
 Product development: This relates to offering new products in the same market which
can help it in strengthening its brand image in market.
 Diversification: This strategy is related with offering new products in new markets which
is a risky strategy but can help the company in gaining competitive advantage by offering
better products to new customers.
A brand can be revitalized through various ways like continuously reminding customers
about the brand to customers through advertisements, increasing the approach of products in
untapped market by understanding the needs of customers, effectively using marketing mix to re-
position brand in market, adding new characteristics to the products or services etc.

Reinforcement of the brand can be done through maintaining brand consistency, leveraging the
brand through increased awareness of brand, protecting sources of brand equity which help in
earning premium amount due to the brand image in market etc. are the ways of brand
reinforcement.
LO 4
P5) Techniques for measuring and managing brand value
It is important that different techniques are applied which can help in measuring brand
awareness, market share, consumer attitudes and purchasing intent of customers. This help in
analysing the impact the brand is able to create on customers in market so that sales can be
increased. Various ways that can be used by Tesco in order to measure the efficiency of its
brand:
 Growth in direct traffic: Through web analysis the amount of direct traffic that visits
company websites can help in analysing the increase in brand awareness among
customers in market.
 Earned media value: It relates to the publicity which a brand gets without paying for it
on the social media platforms by tracking tools so that the positive mention of company
can be analysed which also help in analysing customer attitude towards can brand.
 Comparing the earned value with competitors: By comparing the media popularity of
company with respect to its customers can help in determining the market share of
company in comparison to competitors (Renton, Daellenbach and Davenport, 2016).
 Surveys: Through surveys the brand awareness of company among customers can be
found which help in improving brand image of company.
 Increase in sales: Increased sales can help in determining the purchasing intent related to
the company products and services.
 Customer loyalty: Increase in loyal customer base can help in determining the brand
effectiveness in attracting customers in an efficient manner.
Following are the techniques for measuring and managing brand value over time:
 Survey search engines: It relates to the frequency with which customer searches about
the company on their websites so that the brand awareness and brand knowledge among
people can be determined which can help in determining its value for customers.

 Video views: It relates to the number of people who have viewed the company brand
video so that their perception regarding company can be changed and they can be
influenced towards brand.
 Document views: It relates to measuring the number of times the documents related to
company are viewed by customers so that brand awareness can be created.
 Measurement of customer attitudes: Changing customer attitude towards brand so that
more number of customers can be attracted and made loyal towards the company can
help in determining the brand value in market.
 The utilitarian function: It is the level of utility or value for money a customer is able to
gain so that the brand value can be calculated.
Brand audit is important so that the performance of brand in market can be analysed and its
effectiveness in achieving company goals and objectives can be determined. Brand auditing can
be done by analysing the customer satisfaction with their perceived value with brand through
surveys, reviewing web analytics so that customer traffic can be analysed which can help in
determining brand awareness, reviewing the brand effectiveness of competitors so that
improvements can be made in improving the brand image. Brand tracking techniques can be
used so that the health of brand in market in achieving its objectives can be analysed. Techniques
of brand tracking are customer research surveys, brand impact surveys, sentiment analysis etc. so
that the brand efficiency can be analysed (Starr and Brodie, 2016).
It is important that Tesco use lean production principle which can help it in using the
available resources in an efficient manner so that high value for customers can be created while
maximising the efficiency of company. It can also help in creating an efficient workflow in the
company so that customer demands can be effectively fulfilled. It also helps in reducing the
wastage while giving services to the customers so that cost and time efficient services can b
provided to customers. This can also help Tesco in improving the brand image in market as it
will deal efficiently with customer needs.
Queuing theory is the study of amount of waiting time for customers to avail their
products and services. This concept can be used in Tesco so that efficient workflow can be
created in company which can help in reducing the queuing time so that high value can be
created for them thereby improving the brand image of company. It also help in improving

various processes in company so that customer demand can be fulfilled on time and their value
proposition can increase (Tasci, 2016).
M5) Critical evaluation of application of brand valuation techniques
Brand value is the financial worth of the brand which can help in evaluating the amount
of money someone purchasing the brand will offer. The brand value of a company can be
increased through creating brand visibility and awareness in market so that more number of
customers can be attracted towards a business. The number of brand associations which can help
in determining the number of positive and negative relationships of others towards the brand so
that the importance of brand in market can be determined. Customer loyalty can also help in
determining the number of customers who are ready to purchase from the company which
increases its value in the market. These attributes help in determining the brand value which is
created by a brand in relation to the amount which is spent by it in improving its brand image in
market. Brand valuation approaches are as follows:
 Income based: Various methods are present in this method like relief from royalty
method which help the owner of brand in analysing the amount of money that can be
received if the brand name is licensed to other party; excess-earning method which help
in calculating the earnings above profits which can help in attracting an investor etc. so
that the brand value can be created from the incomes that can be received due to brand.
 Market based: P/E ratio and turnover multiples method can be used to evaluate the brand
value in which the former help in determining the profits which can be gained by selling
brand in market while the latter help in determining the increase in turnover due to the
brand.
 Cost based: For calculating brand value through this method methods like creation cost
can be used which help in determining the total amount spent in creating the brand;
re[placement value method can help in estimating the investment which is required to
build a similar brand can be calculated.
These techniques can be applied by Tesco so that the brand value can be known in the market
which can help it in determining the profits it can make because of its brand image in market
which help it in developing a string and enduring brand.

Conclusion
From the above report it can be concluded that brand management play an important role
in increasing its sales in the market and increasing the awareness about its products and services
among customers. Various theories can be applied for building brand equity so that brand image
can be strengthened and customer loyalty can be increased. It is important that companies
efficiently manage their brand portfolio which can help in effective brand extension and brand
positioning in market. Brand value must be determined by the companies o that the profits which
are achieved in comparison to the investment made in building brand can be evaluated so that
brand image can be improved in market.

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<https://www.madmork.com/single-post/brandpyramid >
Keller’s brand equity model .2020. [Online] Available through:
<https://www.qualtrics.com/experience-management/brand/customer-based-brand-
equity/>