Brand Equity Management Report

Added on - 21 Jul 2020

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BRAND MANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1SECTION 1......................................................................................................................................1LO1 Demonstrate an understanding of how a brand is built and managed over time.....................11.What is brand?..........................................................................................................................16.What are the main challenges developing a brand?.................................................................3SECTION 2......................................................................................................................................4LO2 Analysis how brand are organized in portfolio and how brand hierarchies are built andmanaged...........................................................................................................................................4Brand portfolio strategy..............................................................................................................4The management structure of the Apple and BMW...................................................................5The brand Equity management...................................................................................................8Extension approaches and strategies of BMW and Apple Inc..................................................10Ways in which brand are reinforced and revitalized.................................................................11Collaboration and Partnership with each brand........................................................................12Brand measurement techniques in relation to Apple Inc and BMW........................................12Brand equity and tracking techniques of the selected brands...................................................13Different approaches to valuing brands....................................................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONBrand management plays an significant role in the firm to established of various brandwhich will promise to the and maintain. Firm will be benefited to manage tangible andintangible characteristics of brand. The aim of branding is to send the message and brings thecustomer loyalty. The proper management of the brand will help to set an firms image. Thereport will highlighted the various key element in which significance of branding an marketingtool. Brand equity and its differ from product, key element of an strong brand. Important tomanage and develop brand overtime and its main challenges for the development. The effectivebrand portfolio strategy. The management hierarchy of the Apple and BMW under whichcorporate, umbrella, family, products and endorsed sub brands. The brand equity managementusing CBBE model. Extension approaches and strategies of both brands. Manner by which thebrands are reinforces and revitalised. The better collaboration and partnership with each brand.Brand measurement techniques in relation to both brands and its equity audit, trackingtechniques of the selected brands as well various approaches brands.SECTION 1LO1 Demonstrate an understanding of how a brand is built and managed over time.1.What is brand?Brand is an goods, services or the concept which is makes an impact on the public fromthe another goods and services to communicating and commonly marketed. It will help torecognise the name as per the branding made done by organisations.2.Why is branding an important marketing tools ?For every firm branding is the important marketing tools which will help to identify tothe target customers. The customer behaviour will help to understand their needs. The brandobjectives of the various firm will realizes the significant of the marketing tools will beresponsibility of the higher authority(Wallace, Buil and de Chernatony, 2014). It will establishthe credibility for the goods and premium consumer psychology and connect them with highemotion. As well makes a loyal customer base. For every brand there are various element whichwill replicated the firms such as :Firm namelogo of the BrandThe message and theme of brand1
Packaging of the brandsExperiences of Brands3.What does brand equity means?It refers as the values and capability of the brands that decided its worth. In other wordsbrand equity define as the dissimilarity consequence of brand knowledge on user responses to thebrand marketing. The various factor which are contributing to any brand such as the awareness,association, perceived quality and loyalty of the brand.4.What are the key elements of a strong brand?For each and every brand there is an message in their logo, name and unique selling proposition.There are various key element of strong brand which will support to makes and impactThe mission and purpose of a strong brand is clear:This can be the main element ofan strong brand which will predefine its mission and work for their goals no mater whatthe position they had set up in the market. They keep communicating to their targetmarket which are the important part of the firm.Understand and leverage its uniqueness:This can be the another key element of strongbrand in which brand can be understand and took advantage with their new idea andinnovation for attracting customer. So they try to value in goods and services for thecustomers and promote them with the clear message.It will help to set its target market:It can be the most important aspect for an strongbrad which will help to set its target market or the customer(Dinnie, 2015.). Theirstrategy of effective marketing will help to communicate with the target customer.Strong brand will maintain a consistent on brand message:For every strong brandthis is an challenging key element in which strong brand will maintain a consistent withtheir brand message. For that it required to set an effective brand management action planto communicate and help to manage from the brand message. The presence of the firm atvarious level of communication will be the main element for the strong brand.Strong brand continue to build solid relationship with its society:This can be theanother reason to set up an strong brand with the continue for building a solidrelationship with its stakeholders.5.How to manage and develop a brand over time?2
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