Brand Management: Importance, Strategies, and Examples

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