Importance of Branding as a Marketing Tool and Brand Strategy for Building and Managing Brand Equity

UNIT 41-BRAND
MANAGEMENT

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAINBODY ...................................................................................................................................3
TASK 1............................................................................................................................................3
P1 Discuss the importance of branding as a marketing tool as well as why and how it has
emerged in business practices.....................................................................................................3
P2 Evaluate the main components of a successful brand strategy for building and managing
brand equity.................................................................................................................................4
TASK 2............................................................................................................................................5
P3 Assess various strategies of portfolio management, brand hierarchy and brand equity
management................................................................................................................................5
TASK 3............................................................................................................................................8
P4 Critically analysed the brand which managed collaboratively and partnership both at
domestic and global level. ..........................................................................................................8
TASK 4..........................................................................................................................................11
P5 Analyse the different kinds of techniques for calculating and managing the brand values.11
CONCLUSION .............................................................................................................................13
REFERENCE.................................................................................................................................14

INTRODUCTION
Brand management is an activity that is used by the management team of marketing
which uses various tool and approaches to enhances values & image of product at marketplace
with the aim of increasing sale and profit margin of company. It is a procedure used by company
for maintaining, holding and improving the brand values of product which includes cost,
customer satisfaction, etc. (Greco and Polli, 2020). The present report is based on Samsung
company of electronic industry, founded by Lee Byung-Chul in 1938. It is a south Korean
company which operates its business across globally. In this current assignment the discussion
about the importance of branding as a marketing tool is carried out as well as about main
components of successful branding strategy for creating and managing the brand equity. Various
strategies of portfolio management, hierarchy and brand equity management are demonstrated
along with it, how brand manges collaboratively is explained. At the end evaluation of several
techniques are used by Firm to measure and mange the value of brand.
MAINBODY
TASK 1
P1 Discuss the importance of branding as a marketing tool as well as why and how it has
emerged in business practices.
Branding is defined as an effective business practices which provides benefits to produce
a good image. The major main of branding is to analyse the quality of products which is an
essential aspects in order to hold the valuable clients for longer period (Melewar and Skinner,
2018). This is basically used to check the taste and preferences of consumer.
In context of Samsung their main aim of branding is to establish differentiation in
products on the basis of quality in order to grab or attract more people towards their products. In
the aspects of earning more reputation at market place , there is some importance of branding as
a marking tool and which is described as below:
Branding enhances recognition: The most key elements for a company is brand logo
which helps company to attract huge number of people towards their product so that people will
get influence towards their product or service. This will provides benefits to them in enhancing
the sales and profit of company. In context of Samsung they adopted innovation and creation into

their products as well as produces good quality product and give them a brand in order to make
different from others products.
Branding generate new consumers: Strong image of brand leads to the successful
execution of company strategies and that aid company to capture large market shares by
increasing the sell of companies product. In relevance to Samsung, they are well known at
marketplace for their brand (Beverland, 2018). This is because they offers variety of products
which posses different quality to other brand and that provides opportunity to Samsung group to
generate new customers.
Improves employee pride and satisfaction: when workers carry out function in a strong
branded company and truly stands behind the brand then they receives a huge amount of
satisfaction while working in a company for instance the employees of Samsung feels proud that
they are the employees of a well images and branded company.
Creates trust within marketplace: A well strategies and professional appearance aids
company to build trust among their potential consumers and clients. All these more likely to
perform with reputed company.
Additionally, there are certain variation by which consumer get confused about their
products offered by company and its brand. Product and brand both are the distinct term which is
explained below:
Brand Product
Brand is different term that explain the
nature and quality of goods at marketplace.
Products are fundamentally copyrights in
industry with the aim of selling.
Brand is designed on the basis of
preferences and trends of consumer and that
cannot be copies by any others.
The products of any firm can be copied
easily by other players at marketplace.
Brand is totally different terminology that
creates the perception of consumers.
Product can be tangible or intangible in
nature.
Therefore it can be said that branding is the main component of firm which creates
several benefits for company in order to gain success and growth in business unit. It aids
company to establish a strong connection to their valuable customers by gaining their trust