Strategies for Brand Management

BRAND
MANAGEMENT

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Mention the advantages of branding as a tool of marketing and how and why it emerges as
a business practice.......................................................................................................................1
P2 Evaluate the key components for an appropriate brand strategy to build and manage brand
equity in an organisation.............................................................................................................3
TASK 2............................................................................................................................................6
P3 Discuss different strategies linked with portfolio management, brand equity management
and brand hierarchy.....................................................................................................................6
TASK 3............................................................................................................................................8
P4 Analyse the ways in which brands are managed in partnership and collaboration at national
and international level.................................................................................................................8
TASK 4..........................................................................................................................................10
P5 Mention about different kind of techniques to manage and measure brand value including
organisational examples............................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Brand management is referred as a marketing function in which different tools and
techniques are used to enhance the value of a brand or product. Increased value of a brand
benefits a business firm in attaining high sales due to which maximised profits can be earned.
Brand-management benefits a company in building their loyal customers due to positive brand
associations (Balmer, 2012). To prepare this assignment report, M&S is selected as firm which
is planning to strengthen its brand for increased market shares. M&S is a renowned MNC which
offers wide product line in clothing, home decors and food products. This company is operating
in global manner and its main office is registered in Westminster, London. This assignment will
cover about branding as a marketing tool and elements of an appropriate brand strategy to
manage and build brand equity. Also, distinct strategies of brand hierarchy, brand equity and
portfolio management are discussed. Management of brands at both global and domestic level is
carried out. At last, various techniques to manage and measure brand value is mentioned.
TASK 1
P1 Mention the advantages of branding as a tool of marketing and how and why it emerges as a
business practice
Branding is stated as a marketing practice where a business firm develops their design,
name or logo so that customers can easily distinct their services and products from offerings of
rival organisations. In context with M&S, company can use this tool to sustain a strong image
then their rival companies. For example, Without performing branding and associated activities,
concerned company can not carry out merchandise advertisement, promotion of logo, customer
service, reputation etc. Due to this, services or products of company will not gain wide attention
from customers and markets. To perform branding, a company needs below mentioned aspects:
 An attractive brand name and logo
 Effective slogan and message that can distinct the brands of M&S with other brands.
 Right brand positioning to popularise brand in marketplace.
Branding has numerous benefits due to which it will be easy for an organisation to
acquire their goals and targets in a proper manner. Branding helps in generating positive impact
about a brand in the mind of customers and this is the reason branding has emerged as a
marketing tool. In context with M&S, benefits of branding are stated below:
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 Enhanced recognition of company: Identifying and remembering the generic name of
services or products is very difficult for people due to wide range of products available
in market. One of the important element of branding is a Logo which benefits in creating
a unique identify of a brand or entire organization. Logo of M&S is its name itself due to
which people are able to differentiate the products of company in an easier manner.
Without this recognition of M&S, demand of company products will not be increased
and company will never be able to generate a space in the minds of customers.
 Builds trust within marketplace: Due to presence of multiple choices for a single
product, customers feel confused while shopping. According to the people, quality of a
product depends upon the firm which is producing it. This is the reason customers buys
services and products of those company which are renowned and popular. Non-Branding
will restrict M&S in becoming a popular and trustworthy brand due to which maximum
people will not buy their products without any second thoughts (Brexendorf, Bayus and
Keller, 2015).
 Improves sales and revenue: Branding has an important role in increasing the sales,
profits and revenues of an organization. Due to branding, visibility of brand will increase
and potential customers of company will also purchase their products. This will helps the
concerned company in earning expected sales due to which revenue earning will
improve and overall profits of company will rise considerably. Without Branding, M&S
will have limited sales due to which earning high revenues is not possible.
 Transforming potential customers into permanent customers: Branding benefits in
popularizing the products and services of a firm in front of existing and potential
customers. Due to this, their trust on a specific service or product increases and they
purchase it without any second thinking. This will benefits M&S in increasing their
customer base by conversion of potential customers into loyal customers (Burmann,
Halaszovich, Schade and Hemmann, 2017). If branding of company is inappropriate
then, it is not possible for M&S to target right people. This will act as a barrier in
converting potential customers into loyal ones. Hence, branding is very important.
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