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Nestle's Brand Management Strategies

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Added on  2020-12-10

Nestle's Brand Management Strategies

   Added on 2020-12-10

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Brand Management
Nestle's Brand Management Strategies_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Importance of branding as a marketing tool...........................................................................1P2 Analysis of the key components of a successful brand strategy for building an managingbrand equity.................................................................................................................................3TASK 2............................................................................................................................................5P3 Analysis of the different strategies of portfolio management, brand hierarchy and brandequity management......................................................................................................................5TASK 3............................................................................................................................................8P4 Evaluation of the way in which brands are managed collaboratively and in partnership bothat a domestic and global level......................................................................................................8TASK 4............................................................................................................................................9P5 Evaluation of different types of techniques for measuring and managing brand value usingspecific organisational examples.................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONBrand management can be defined as the process of analysing and planning they way inwhich specific products of brands are going to be launched in market. Main requirement for it, isto establish good relations with target market so that clients can be retained for along period infuture. Elements that are included in it are products, its looks, quality, quantity, price, packagingetc. It is mainly used by business entities to enhance perceived value of product line (Cavenderand H. Kincade, 2014). Main aim of this project is to analyse various elements of brandmanagement for the purpose of knowledge enhancement. The organisation which is selected forthis report is Nestle UK which is multinational food and drink company. It was founded in year1866 and its CEO is Fiona Kendrick.This report covers various topics such as demonstration of the understanding of the wayin which brand is built and managed over time, analyse of organisation of brand portfolio andprocess of building brand hierarchy. Evaluation of the way in which brands are leveraged orextended overtime domestically and internationally, different types of techniques for measuringand managing brand value etc. are also discussed under this report.TASK 1P1 Importance of branding as a marketing toolBranding: The process which is involved in creating an attractive image and name forthe products is known as branding. Main purpose of this procedure is to capture large marketarea by attracting large number of customers with the help of unique marketing campaign. Itaims at the establishment of differentiated and significant presence in the market which helps toretain existing clients and attract prospects (Branding, 2019). In Nestle UK managers andmarketers build effective strategies that helps to describe all the products and services that areoffered by the company. For this purpose they continuously update website of entity and designattractive campaigns that helps to aware large number of customers about items sold by Nestle. Iteffective branding strategies helps the company to be competitive in the market. It is a marketingtool which is very important for all organisations such as Nestle. Significance of branding as amarketing tool are discussed below:Significance of branding as a marketing tool1
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Branding is very beneficial for the company as it helps to create consumer preference forthe product or service behind the brand.It is very important for Nestle because attractive branding strategies helps to generatehigher revenues and capture large area of market because it attracts large number ofconsumers (Batey, 2012).Branding create a brand image in the market which helps Nestle to deal with competition,hence to overcome such type of challenges branding is vital for organisation.As it results in well known company where everyone wants to work which helpscompany to hire skilled and talented employees who can work productively and enhanceproductivity of whole organisation.It is required to strengthen negotiation power with suppliers because when company isthe biggest customer of them then they can't afford to loose it.Branding helps to reduce employee turnover because when enterprise is having goodimage then workers do not prefer to leave the organisation.It is mainly important for the purpose of attract investors when a company has capturedlarge market area and generating higher profits then investors get attracted as they alwaysinvest in such entity which can provide them higher returns on their money.Branding has been emerged in business practice because it is considered as a majorelement for business. In Nestle it is highly focused by managers as it helps to attain competitiveadvantage, attract customers and generate high profits. All type of organisations whether it issmall or large are emerging branding in business practices because it helps to reach businessobjectives (Cox, Gyrd-Jones and Gardiner, 2014). It has been emerged by analysing its requirement because top executives think that it isnot possible for company to accomplish its goals without proper branding. It increases value ofcompany, helps to provide motivation and right direction to staff members which helps to attainlong term sustainability. It creates trust, improves recognition of brand, support marketingefforts, inspire staff members, generate revenues, create message that illustrate value of companyand use emptions. By monitoring all these aspects business entities such as Nestle have emergedbranding in business practices because it is also a main part of activities that results in attainmentof long as well as short term goals.2
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