Brand Management: Importance, Strategies, and Building Equity

BRAND
MANAGEMENT

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Why Branding is important as a marketing tool and how it has emerged in business
practices..................................................................................................................................3
P2 What are the key components of a successful brand strategies for managing and building
equity......................................................................................................................................5
M1 Evaluate how brands are managed successfully over time using application of appropriate
theories, models and concepts. ..............................................................................................8
M2 Apply appropriate and validated examples within an organizational context.................8
TASK 2............................................................................................................................................8
P3 what are the different strategies accompanying with portfolio management, brand
hierarchy and brand equity.....................................................................................................8
M3 Critically analyze portfolio management, brand hierarchies and brand equity using
appropriate theories, models and frameworks......................................................................10
TASK 3..........................................................................................................................................10
P4 What are the ways which are used by the company to collaborate and in partnership at
national and international level............................................................................................10
M4 Critically evaluate the use of different techniques used to leverage and extend brands.12
TASK 4..........................................................................................................................................12
P5 What are the techniques of analysing and managing the brand value with context to the
organisation..........................................................................................................................12
M5 Critically evaluate application of techniques for measuring and managing brand value in
relation to developing a strong and enduring brand. ...........................................................13
CONCLUSION .............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Brand is mark which helps in generating the image in the public. Managing the name of
the brand is the difficult task for the organisation. Brand management is the function which
analysis on how a brand is competing in the current situation. It also talks about the process that
how a business enterprise can attain their objectives in an effective manner. It is used as an array
of tools of marketing and techniques which are helpful in enhancing the perceived value of the
commodities. It is the process which helps in analysing the core value of the brand among
competitors and reflecting it to their customers, which helps them to build the brand creditability.
Awareness of brand is the main component brand management. If the customers are not aware
about your product then that will be difficult fro them to decide that they should buy it or not.
Another most important task for the organisation is to analysis what their customers’ needs and
wants so it will be helpful for the enterprise to full fill such demands in order to gain image in the
market (Alonso-Dos-Santos and et. al., 2018). This assignment has discussed in context with
Marks and Spencer which is a multinational company located in London. The company is
dealing with the home and food and cloths products. The firm is operating more than 1000 store
in United Kingdom. This report is deal with analysing how effective brand management can be
achieved by the company. It covers the branding as a marketing tool and the ways in which they
can emerged as a business practices. Further, it has discussed about the key components of
making a brand strategies for managing their brand. Other then this, different strategies of
portfolio management, brand equity and brand hierarchy are covered. Lastly, it has analysed the
different manners to manage the brand at domestic and global brand are mentioned with their
techniques to measure and manage their value of brand.
TASK 1
P1 Why Branding is important as a marketing tool and how it has emerged in business practices.
Branding is a plan of action in a market which helps a company in planning their design,
symbol and name of the firm which helps the customers to recognise it. It helps the company to
differentiate their products and services from their competitors (Alshathry, Clarke and Goodman,
2017). Branding plays an important role as a tool of marketing because it helps the company to
select the market on which they can serve their products and services. It also helps in analysing
oneself as the sole provider of the solution to the issues of their customers and their needs and

wants. M&S uses this tool which helps them to differentiate their goods from their rivals. For
developing this the organisation has adopted promotional merchandise, customer service desk,
advertisement and logo. These factors helps in promoting their products and grabbing the
attention of their customers and helps in attracting the new customers. For building a good brand
there are some aspects which must be considered by the organisation which are as follows:
 They must use an attractive name of the brand.
 The company has an specific brand icon which helps the customers to recognise it easily.
 They must use an attractive slogans and messages which can be easily remembered by
their customers.
 The organisation must have an good and repudiated position in marketplace.
 They must use attractive packaging of their products which helps in attracting their
customers to buy it.
It is essential for the company to attain their desired goals and objectives to have an
branding in the market. This helps the firm in attaining their set goals and targets which helps in
their growth and revenues (Asghari Sarem, Khodadadi and Saeedi, 2019). M&S uses this tool
foe increasing the awareness of their brand which helps in identifying the measures so that they
can enhance the level of satisfaction of their clients. There are different benefits which are
associate with this branding those are as follows: Increase in the share of market and their revenue: Branding helps in increasing the
share of market which enhance their revenue. This helps in enhancing their business.
M&S uses this tool to attain their set goals (Hollebeek, Juric and Tang, 2017). This leads
to the increment in share at market space. Attracting new customers: when the company has a good brand image in the market this
helps in enhancement of the new customers due to the positive image of their brand in
market. M&S will enhance their share of market because they believe in providing the
satisfactory services.
 Builds trust in the market: In market there are many same products served by different
competitors to attract the customer to buy good from M&S they have to develop different
strategies to build the trustworthy and popular brand which helps the customers to feel
secure and satisfied while purchasing their products.
Branding has emerged as a business practice of Marks & Spencer in following way: