This document discusses the importance of branding as marketing tools and successful brand strategy in brand management. It analyzes different strategies of portfolio management, brand equity management, and brand hierarchy. It also evaluates how brands collaborate in their partnerships.
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Brand Management
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Contents INTRODUCTION...........................................................................................................................3 LO1..................................................................................................................................................3 P1 Importance of branding as the marketing tools along with how emerged in business in business practice..........................................................................................................................3 P2 Analyse the key components of successful brand strategy for building by managing the brand equity.................................................................................................................................5 LO2..................................................................................................................................................6 P3 Analysis the different strategies of portfolio management, brand equity management and brand hierarchy............................................................................................................................6 LO3..................................................................................................................................................8 P4 Evaluation how brands which are collaboratively in their partnership..................................8 LO4..................................................................................................................................................9 P5 Evaluate the different types for measuring and managing brand values................................9 CONCLUSION..............................................................................................................................10 REFERENCES..............................................................................................................................10 https://www.locusassignments.com/units/unit-41-brand-management.........................................11
INTRODUCTION Brand management is the important aspects which makes the powerful influence on the customer engagement in the competitive environment for having effective management of company. Effective brand managements enable to build more loyal customers through positive level of brand association in way of strong awareness of brand. Apple Inc. is the American multinational company of technology headquarter which designs, develops electronics and computer software (Burmann and et.al.., 2017). The company is considered one of the big four technologies company alongside as Amazon, Google, and Microsoft. In this report there will be discussing of branding as marketing tools along with successful brand strategy of company. In addition to that different strategies of portfolio management with brand equity management and brand hierarchy. LO1 P1 Importance of branding as the marketing tools along with how emerged in business in business practice. Every part of the apple brand has their work seamlessly together in seamless manners regarding the products, packaging and differentiated promotional strategy. There is sense in level of simplicity and luxury which have come out with lifting the lid of mac book along with opening their new phone packages in the respective apple store. As per the Forbes recent level of study, Apple is the world’s most valuable brands as the tech companies are dominating the industry is more prominent way.The importance of brand managements has their perceived level of values in customer evaluations with the benefit and cost as comparative another brand which makes business successful. Importance of branding to Manufacturing is this make the firm helps in the fostering the emotional connections to the company by creating the focus of messaging as the people need by desiring the subtly emotional programs. Apple hones in on and reinforces this emotional loyalty through their advertising and messaging. Customer have good branding the creation of customer loyalty in order to have the supporting to good and bad times. This will make the spreading the positive messages which will influence in introducing new people. Intermediaries 3
This the powerful aspects to the intermediaries are considered to the aggrandizers in order to supply the stronger perspectives. This will be making of the tastemaker as the trafficking being competitive crowed sectors. Apple is able to have the pricing of products at the premium rates as there have the clear understanding as the brands have the power to pull in respective sales. The brand pyramid is the frameworkasthefundamentalquestionswhichassharedandcommunicatesacrossthe organization with easily shared and communicated across the respective organization (Keller and Brexendorf, 2019). There are several version of brand pyramids which is global marketing research in which apple pyramid as basic level as salience by moving up to the parameter of performance and imagery. The apple is looking for judgement and feeling to make the customer more loyal and satisfaction. Branding provided the strength as in apple have the great level of visibility in the respective marketplace and building customer loyalty. The strong level of brand as the interrelationship between the descriptive products along is customers.to buy another apple product to try another. Branding helps in succeeded in delivering the very strong results with the face hesitant consumers under recessionary pressures.This have resulted as apple to have delivering their consistent sales and profit in the tough level of recessionary times with the help of premium pricing as superior branding strategy. The apples able to have delivering the consistent in sales and profit growth in tough recessionary times with perineum pricing as competitors are delivering the poor results. 4
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The brand equity is the aspect o value the customer preconceptions as it is being measured as the overall par of value which is always based on there future sales. Brand equity have the important level of components which is considered to be an effective part of developing the strategy. The component is such as brand awareness, brand association, perceived quality as the experience and customer preference. Brand equity is considered t be marketing strategy as it is consistent to have built in some level of core disciplines which would benefited from the learning and application. At the same time there rea many other important aspects of the management as the strength easily becomes weakness points vulnerability. The firm have been identified as there firm which have priority on building a community as the dedicated fans along with maintaining an aura of secrecy surrounding of their respective brand inner working of brand, hype surrounding and creating conversation among. The company always positioned it self as positioning themselves something think different.Th firm gave the of premium exclusivity as promoting new product realizes and meticulous attentions towards the aesthetic of its product (Veloutsou and Guzman, 2017). Apple have enabled brand which is being associate with the luxury in the follower eyes. All the technology leading products which is being delivered by apples have not been designed to have accurate level of match of brand promises but also following the fundamentals e to keep the company apple profitable. This makes showing 5
up their product to be people have the livesas the campaign are more in way of reinforcing their brand pillars solidifies the emotional level of connection with respective audience. P2 Analyse the key components of successful brand strategy for building by managing the brand equity. Apple company is the one of the most successful companies in world which is enjoying there most visible level of brand names in the respective world. The company have launched the new level of products which is usually weighted with height Hing anticipates by the consumer around of world.In addition to that’s the financial performance of the company is exemplary which is been attributes with the major factors of visionary leadership offered by the CEO and the strategic goals by the emphasising on design along with willingness to envelope new products with the risk to have the developing of new products. The brand visons have the painting of the future picture for the brand which is far out the reaching the nonetheless making the statement about the passion of the apple. The firm have the establishments for the valuable business as the firm have becoming year symbol of innovations and elegance sin design. The apple has the brand personality regarding the implication of simplicity by removing the complexityfrompeople'slives;people-drivenproductdesign;andaboutbeingareally humanistic company with a heartfelt connection with its customers. The have the brand positioning for the emotional values to the brad as to be something felts in the heartand mind of customersby reflecting the core beliefin term of innovations , design and imagination. The elements of the successfulbranding strategy are chasing the consisting of brand awareness, brand association, perceived quality as the experience and customer preference. Brand equity is considered t be marketing strategy as it is consistent to have built in some level of core disciplines which would benefited from the learning and application.Brand position have the unique value if company which creates differentiations from the captive market by using product and services. In addition to that’s consumer can collectively know as brand position. Apple have the brand promise to think different by delivering their single times as the brand promises which makes need proper consideration of employees in aspect of customers.Every business move should be weighed against this promise to be sure. 6
On the hand, brand personality is considered to be traits which is followed by withing and outside the organization. There is need to have specific level of personality traits which is the perspective, partners, employers to have the description of organization (Atwal and Williams, 2017). The apple have the consistent level of branding as managing their product initiatives along with user friendly interface which have mostly unchanged in the respective recent years. The branding strategy have been recognisable in their recent years due to aesthetics of Apple hardware and software remaining consistent. The branding strategy is basically personality branding strategy as apple is majorly focussing on customer emotions which is all about the lifestyle, liberty, imagination, hopes, dreams and innovations which provided the aspiration a power to peoples to get out from the complications of humitas business with incline and genuine connections. Asthe brand story, Apple is trying not only to have the promotion and innovation of product but also the need of peoples which adds ore level of credibility by shaping the face and lend more level of value regarding the success of product and services. In addition of the respective brand associations which can be such as specific physical artefacts which included more of logo, names, colours, fonts along with respective image tagline. Apple brand promise have the brand traits which is been reflected through proper brand association in more way of supporting the bard positioning patient. Brand positioning within Apple Inc give positive effect to Apple Inc.Brand positioning will help as the company to improve their marketing strategy and benefit to the company. Apple fully understands that all aspects of the customer experience are important and that all brand touch-points must reinforce the Apple brand.The form have the development of the brand strategy as Apple’s iPhone and iTunes music business is profitable in its own right, Apple’s venture into these product areas was based on a strategy of using the music business to help boost the appeal of Apple’s computing business. as per the add of the apple.There is attempts to have the connectionin more emotional way with viewersby creating the brand which have the clear denoting the progress , innovation and respective creativity. 7
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LO2 P3 Analysis the different strategies of portfolio management, brand equity management and brand hierarchy. In the today’s world scenario, the corporations is of suffering from the brand prefoliations as the phenomenahavethecompanieswhicharekeepproducingbrandproliferationwhichis producing more and more brands without the strategic level of consideration. This is all level of portfolio with the key terms, concepts as which is related to the brand portfolio strategy which is strategic approach to have the preventing brand prefoliation. There is more related portfolio strategy which the strategic approach to have the brand proliferations. The brand portfolio which is considered to during the brand strategy decisions which the introducing the brand more perineum or low cost enter the new market or categories. The type pf brand house strategies are such as the Branded houseswhich is in this model have the firm is considered to be brand as the service and market sector are considered to be the subset of primary brands which are not formally branded. Apple are globally known for this model as Under Apple’s primary brand comes many subset brands: Mac, iTunes, iPhone. In this case more level of even smaller firm has the successfully pull of this dole as all level of instances are the subset of different brands which are recognised but do not have the extent to over shadow of detracts the primary band. More over on the professional level of services the approach of branded house is also known as the one firm brand strategy which can be such as the logo marketplace marketplaces positioning and messaging. The subordinate service offerings share these brand elements but contain their own unique messaging points. The benefits are such as the development of string brands which have the both level of high visibilityas strong levelof reputationswhich have therequirementof carefulnurturing (Chernev, 2020). It is not the surprise as the bend sergeants is consider to be easily sustainable under the guidance if brane douses as the firm channels have its financials along with labour sources towards the strengthen respective single bran rather than having the diluting bran. The firm is paying major level of attention of the lifestyle brand as their apples have the clear miming to be creative in more level of subconscious mind of the consumers. This will lead customer to have perception of clear belonging to the creative class which is cosnodered o be aspect which is more appealing. Creativity’ is a highly sought-after quality in the opposite sex. 8
It’s an indication of intelligence and problem-solving abilities which again could lead to high financial earnings. So, with the effect of the apple reproductive strategy have the part of evaluations which have the aging and again feeling for the creative class perception for the decision-making process which is more over benefiting their apple bottom line. The next is all aboutthehouse of brandstrategy as the strong level of professional services are not built overnight by been developed with effective branding which makes the customer to have support if house of brands.Under this, the firm have tending to managing of various brans as it has separate company dealing with all necessary brand as and legal requirements by certainly greater complexity.Sometimes the matrix of brands promises along with audience profileis considered o be diver decisionsas the brand are more way in creating the use brandswhich have the unrelated level of brand promises. This have the turn every different buyers or the salience profiles to have creation of house of brands. This have the clear level of dependence on the house of brands which can positionally have the compounding the challenges of building the firm verbal band level of strength in more respective way. as the nobility so their approach as have the greater level of ability to have unique level of state for target audiences to have broadening the demographic reaches along with creating safety nets knowing they have the strong level of brands to fall backson if necessary. LO3 P4 Evaluation how brands which are collaboratively in their partnership. Brand extension is the strategy is the concept which is used in marketing as the company which is being already have been branded in respective marketplace will make the use of same brand or the promotion of different companies.With the help of there this the new product category gave te linked with the existing brand names in order to make product reach easy. The different level of brand strategies ae such as the product line extension have the introduction of there to the product in similar market by use of current brand names which is one of common approach existing brand name which is relatively well received with variation. The next brand strategies multi brand as where the variation of product is being launched to have multiple plans in significant markets. This is makes brand more level of competing in the respective product category (Rauschnabel and et.al., 2016). The main reason to have different level of positioning in the market dominate the overall shelf space, and reduce opportunities for competitors to enter the market or to win market share. 9
The brand extension which involves broadening of market understanding which is branding market understanding with respective level of cares as the market is not fully accepted. Hence, apple have the have ore extension into software mobile phone along with music system and laptops. The final level of brand development strategy as the new brand when the firm have the expanding in respective offering for developing the new product line. This is more level of understanding as they dint have any level of offering before as the need to rebuild new brand. Fit and leverage’ in brand extensions is needed to be understood as a brand have the leverage over distinctive level of properties that own have lead customer in the new respective category in new category to have perceiving the brand extensions as the term to be superior to be exiting completive products. Successful brand extensions are not that easy to identify, develop and position. Having a great reputation for quality is not enough to launch a brand extension. Hundreds of brands have a great reputation. Reinforcing the brands have the dependence of the nature of association which is being involved as core level of association for the primarily products which is related attributes or other functionalbenefitssuchasinnovationindescriptiveproductdesignmanufacturing,and merchandising is especially critical to maintaining or enhancing brand equity. The Brand collaborations and partnerships have company which creates differentiations from the captive market by using product and services. In addition to that’s consumer can collectively know as brand position.There is need to have specific level of personality traits which is the perspective, partners, employers to have the description of organization (Ofek. and Schwalb, 2018). The apple have the consistent level of branding as managing their product initiatives along with user friendly. As considered to the development of the hybrid strategy, her company have the proper focus of thegeneric strategiesas which tends to be usedin the cost focus and differentiation focus along with implementing of the generic strategiesto make the utilization of resourcesfor growth of market share. It competes with the technological giants like Google, Microsoft, Amazon and the PC brands like HP, Dell and Lenovo.This is all a result of excellent products and a great strategy. As per the collaboration have the Accenture to have creation in apple solution s t have the transformation in business to work. Accenture has created dedicated Apple practices within 10
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select Accenture Digital Studios where development experts are collocated. Next to that Cisco provides leading networking, security, and collaboration solutions for Apple products with level of integration iOS, iPad OS, macOS, and the latest technology from Cisco. LO4 P5 Evaluate the different types for measuring and managing brand values. A strong level of brand awareness has the essentials element in the business as the strong level of branding and brand awareness strategies which is need to have the crucial level of development. On he other hand measuring brand awareness is the one of treks level of marketing in KPIs to have proper level of tracking. The two have the valuation of the brand have there actually make the measurementsregarding thebusinessworth’swithcalculatingthroughthe3importantapproachesastheasset approaches, market approach and the income approach. The market approach will be more useful as the business prices will be assuming the buyer will payswith the effeteness and evacuation of brand to all relevant factorsand neither completed sale. Creating brand awareness which is the next step for creating the strong level of bons which is considered to be important aspects for the business to sty up in the top of the market. Hence, brand awareness measures how famous a brand is within its target audience (Burmann and et.al., 2017). The measuring or more level of the brand awareness which can be considered as difficult aspects as the internet and technology have the numerous levels of aspect Overall, a business should be aware of itsbrand’sengagementlevels, impressions, and overall reachwhile measuring its brand awareness. On the other to have calculation of the techniques to measure brand equity are term to be the Qualitative and quantitative research techniques are design to understand the source of brand equity from consumer’s perspective. This will make the proper ensuring of there various aspects such as the customer attitudes and purchasing intent of customer with the influence of the brand. There can be application o the reach metric through more level of online sources which can he the resignation f brand advertisement through the help of retranslating aspects , social media ads and other paid adverting. Engagement comprises of numerous factors such as crowd sourcing participation, participation in discussion forums or contests, comments, social media sharing, etc. Here are some forms of data that can help a business measure its brand awareness. 11
In addition to that the search keywords can helps in mentions on social media and anastatic as the world wide web have been loaded with more level of tools which help the business to measure negative and positive social mentions. As per the social aspects have been positive can be helpful in evaluating their marketing strategies which effectible tackle the situation by taking measures to ensure. The use of online tools such as the websites f the social media in line to be understood as LinkedIn, Facebook or Twitter or through search engines. This is Google Analytics is a great way to acquire this data as it helps to understand the trends business has gone through over a period of time. CONCLUSION As per the above report can be treated asAs per the Forbes recent level of study, Apple is the world’s most valuable brands as the tech companies are dominating the industry is more prominent way. Brand equity is considered t be marketing strategy as it is consistent to have built in some level of core disciplines which would benefited from the learning and application All the technology leading products which is being delivered by apples have not been designed to have accurate level of match of brand promises but also following the fundamentals e to keep the company apple profitable.Apple fully understands that all aspects of the customer experience are important and that all brand touch-points must reinforce the Apple brand.Though Apple’s iPhone and iTunes music business is profitable in its own right.This have the clear level of dependence on the house of brands which can positionally have the compounding the challenges of building the firm verbal band level of strength in more respective way. Fit and leverage’ in brand extensions is needed to be understood as a brand have the leverage over distinctive level of properties that own have lead customer in the new respective category in 12
REFERENCES Books and Journals Online Burmann,Candet.al..,2017.StrategicBrandManagement.InIdentity-BasedBrand Management(pp. 91-172). Springer Gabler, Wiesbaden. Keller, K.L. and Brexendorf, T.O., 2019. Strategic Brand Management Process. InHandbuch Markenführung(pp. 155-175). Springer Gabler, Wiesbaden. Veloutsou, C. and Guzman, F., 2017. The evolution of brand management thinking over the last 25 years as recorded in the Journal of Product and Brand Management. Journal of Product & Brand Management. Atwal, G. and Williams, A., 2017. Luxury brand marketing–the experience is everything!. In Advances in luxury brand management (pp. 43-57). Palgrave Macmillan, Cham. Chernev, A., 2020. Strategic brand management. Cerebellum Press. Rauschnabel, P.A and et.al., 2016. Brand management in higher education: the university brand personality scale. Journal of Business Research, 69(8), pp.3077-3086. Ofek, E. and Schwalb, N., 2018. The Brand Management of Places. Burmann, C., Riley, N.M., Halaszovich, T. and Schade, M., 2017. The concept of identity-based brandmanagement.InIdentity-BasedBrandManagement(pp.17-90).SpringerGabler, Wiesbaden. 13
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