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Brand management assignment (pdf)

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Added on  2020-06-06

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In the context of M&S(Marks and Spencer), the present report will analyze and determine the various importances of branding as a marketing tool with the description of why various organizations use it in business practices as well as the methods how they utilize it. The report will also determine the main factors of brand strategies used for managing and building brand equity influencing functions of Marks and Spencer. "Marketing Management of Marks and Spencer" will be discussed. We will do a SWOT analysis of M&S(Marks and Spencer). Furthermore, the report will determine the factors that enable brands to manage partnerships at the domestic and global levels.  You can also check "A Case Study of Marks and Spencer" for depth analysis.

Brand management assignment (pdf)

   Added on 2020-06-06

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BRANDMANAGEMENT
Brand management assignment (pdf)_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1a) Importance of branding...........................................................................................................1b) Developing and growing brand equity of Marks and Spencer ..............................................2c) Suggestions to M&S brand can be reinforce, extended and revitalized.................................4TASK 2............................................................................................................................................5a) House of Brands Model..........................................................................................................5b) Branded House Model............................................................................................................5c) Hybrid Model..........................................................................................................................6TASK 3 - Brand extension and leverage.........................................................................................63.1 Brand Leverage.....................................................................................................................63.2 Strengths and Weaknesses of Marks and Spencer ...............................................................73.3 Collaboration and Partnership options for M&S..................................................................9TASK 4 : Measuring and managing brand value...........................................................................10There are various methods and techniques in order to measure or manage the brand value of acompany or organization. .........................................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
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INTRODUCTIONBrand management is the analysis and planning of the brand perception within amarketplace. Brand management focus on developing an effective relationship with customertarget and market. In context of M&S(Marks and Spencer) present report will analyse anddetermine the various importances of branding as a marketing tool with the description on whyvarious organisation use it in business practices as well as the methods how they utilise it. Thereport will also determine the main factors of brand strategies used for managing and buildingbrand equity influencing functions of Marks and Spencer. The study also consists an analysis ofdifferent portfolio management strategies, strategies for brand equity and brand hierarchy.Furthermore, the report will determine the factors that enable brand to manage partnership atdomestic and global level. Different methods of measuring brand value will also be identified inthe following report. TASK 1a) Importance of branding.Brand- Brand refers to a service or concept or product that differentiate the product andservices from others services and products and from competitors as well. Brand helps easilyinteract and marketed the products and services in the market. A brand can be seen in twoperspectives, first is financial and other is legal. First one defines brand as a mental associationmade by customers for a particular brand. It is actually a good feeling of consumer about itsproducts, company and it services. It a reputation of any person which can only be achieved byhard work and dedication (Fetscherin, and Heilmann, 2015). It can only be defined as therelationship, expectations with customer's. Branding is a most essential and critical part of amarketing process of each and every service or product. According to the present scenario ormarket situations every product has a huge number of competitors established by the otherorganisations. The brand in term is a name, symbol, design or overall combination of these al;lfactors formulated to identify the products and services of company as well as differentiate theproducts and services from the competitors goods and services. Marks and Spencer is not able tomaintains its brand in efficient way. The products and services of Marks and Spencer is adorablebut they have does not understand the importance of Brand. Importance of Branding1
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There are many reasons which proves that branding is very important to all the business whetherit is small or big. Increases the value of company- Branding helps in increasing the value of company inthe market as it links the name, symbol, logo, online presence, goods and services and appeal tothe audience in large. Branding brings unity and clear messages to consumers, upcomingpartnership and their challengers. Asset of business- Brand is an asset for all companies who maintain its brand name. Oncethe name of brand is become popular, customers are attracted towards the products and servicesthan company takes advantages and benefits in terms of revenue and income in efficient way.Branding also makes the differences in between debt/ liquidation and income/ sales. It is anintangible which can be feel by consumers and seen by the revenue and income of sales. Branding creates Trust- Branding help company is building trust among their customers.People are majorly attracted to those products and services that appears to be polished andauthorized. Company has to maintain its quality in order to maintain the trust and healthyrelationship between customers and company. Trust is not a solid thing, it is emotional reactionsof people towards the company (Ross and Hajjat, 2016). b) Developing and growing brand equity of Marks and Spencer .BrandEquity- It is the commercial value that derives from the perception of customersof the name of brand of a specific product or services, rather than from the products or servicesitself. It is the term of marketing which describes the value of brand. The value of brand can beanalyses by the perception and expectations of consumer towards the brand. Positive brandequity is when people are more thinking of brand and brand equity is negative when people usedto avoid it (Lin, Y. H., 2015). Brand equity is positive when it has value-With the great deal of brand equity, organizations can charge more for products andservices.With the positive brand equity, organizations can make money from the brand bytransferring the equity to line extensions.Positive brand equity can also aid company to boost in stock market price. 2
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