Importance of Branding as a Marketing Tool

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Importance of branding as a marketing tool and its emerge in business practice..................1
M1 & D1 Critical evaluation and analysis how brands are managed with related theories,
concept and their justification.....................................................................................................3
P2 Key components for the successful brand strategy to build and manage it with brand equity
.....................................................................................................................................................3
M2 Apply appropriate examples within an organizational context............................................4
TASK 2............................................................................................................................................4
P3. Analysis of different strategies of portfolio management, brand hierarchy and brand
equity management.....................................................................................................................4
M3 Critically analyse the portfolio management, brand hierarchies and equity........................7
TASK 3............................................................................................................................................8
P4 Brands evaluation on the bases of collaboration and partnership based on domestic and
multi-national level.....................................................................................................................8
M4 Critically evaluate the use of techniques which are used to leverage and extend brands.. . .9
TASK 4............................................................................................................................................9
P5 Different types of techniques and their evaluation to measure and manage brand value......9
M5 Critically analyse the application of techniques for measuring and managing brand value
in relation to develop a strong brand.........................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1

INTRODUCTION
Brand management is one of the most important function of marketing that can uses
various techniques to increase the value of their products or brand. Brand management helps the
organisation to decide the premium prices of their products by making effective strategies for the
goods and services. This results it is easy for organisation to build loyal customer's base for the
firm. Along, with this it also helps management to understand the brand, its target market that
improve the overall vision of organisation. The present report is written from the perspective of
Waitrose & partners which operates their business in retail organisation. Its headquarter is
situated in Bracknell, United Kingdom (Cooper, Merrilees and Miller, 2015). Further, this
projects highlights on importance of branding in the marketing tool and the key components for a
successful brand strategy. Strategies related with portfolio management and brand hierarchy will
also be cover in this report. In the last, evaluation of different brands and techniques will be
focused in this report.
TASK 1
P1 Importance of branding as a marketing tool and its emerge in business practice
Branding is one of the most important business practice that leads the management of
Waitrose & partners to generate symbol, design, name etc. in a unique way for organisational
products. This results it is for customer's to identify the organisational products from a large
range of products. Their are several importances of branding are present in market such as people
perceive about brand, to enter into new business, to increase brand awareness and many more in
the market. Some of the major importance of branding are mention as follow:
Branding gets recognition- One of the most important reason for branding is its
importance because it helps company to recognise their different products in a easiest way. Like
with the logo of a company it is easy for customer's to identifying the organisational name. This
determines that logo works as the face of organisation. It determines that logo need to be
designed in a powerful and a memorable way (Dessart, Veloutsou and Morgan-Thomas, 2015).
The printed and promotional products works as an effective method through which it is easy for
management to increase their brand awareness across the globe. Therefore, it is mandatory for
Waitrose & partners to design an effective logo that is easy to remember and represent the motive
of organisation.
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To increase business value- Branding is one of the most important features when it is
related with future business. Along, with this the process relates with organisation enhances the
business value to strongly represent their market area. This makes with the more appealing
products it is easy for organisation to increase their market share and its value by giving more
leverage to the industry. This makes it appealing investment opportunity because the firms
established place in market. Moreover, there are various results are also established to generate
positive factors to enhance their business performance by making more investment opportunities
in the market (Brooks and Anumudu, 2016).
Branding generates new customers- A good brand will have to become trouble for
drumming various referral to makes branding. In simple terms, there are various factors are
related with positive impression of the organisation that is generated through various business
opportunities in order to perform the business with in an appropriate manner. Along with this
there are various factors which considered as the most effective methods that is used to advertise
the products. Once the various factors which is considered relates with advertising and word of
mouth.
Improves employee pride and satisfaction- When the employee's works strongly work
for the organisation then it is easy for Waitrose & partners to complete their work with more
efficiency and effectiveness. This governs it is for management for increase in their brand
awareness. This results in increasing the motive factor to enhance their employee's because theur
are related with an well organised organisation that is working with their business performance.
This results that there is positive relations will be generated in the organisation and their
employee's (Du Preez and Bendixen, 2015).
Waitrose & partners is implementing various factors related with brand in order to emerge them
effectively in the business practice. Some of this methods are mention as below:
Make your brand meaningful- Management of the organisation is introducing various
factors that are related with brand strategy. Along with this the main motive of organisation is to
communicate different brands which are related with consistency and communication of firm. Its
make commitment to take care about the needs and giving them positive experience to satisfy the
needs of customer's.
Priorities to market needs- In the present scenario, there are different task are performed
by management such as survey of market, analysis of customer's needs and many more. This
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