Unit-42 Brand Management Assignment Solution

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Unit-42Brand Management
ContentsIntroduction:..................................................................................................................3LO1 Understanding of how a brand is built and managed over time...........................4P1 The importance of branding as a marketing tool and why and how it hasemerged in business practice...................................................................................4M1 Evaluating how brands are managed successfully over time using applicationof appropriate theories, models and concepts..........................................................5P2The key components of a successful brand strategy for building and managingbrand equity..............................................................................................................7M2Appropriate and validated examples within Uniliver...........................................8LO2Analyzing how brands are organized in portfolios; how brand hierarchies arebuilt and managed........................................................................................................9P3Analyzing different strategies of portfolio management, brand hierarchy andbrand equity management........................................................................................9LO3Evaluate how brands are leveraged/extended over time domestically andinternationally..............................................................................................................11P4Evaluate how brands are managed collaboratively and in partnership both at adomestic and global level........................................................................................11M4Critically evaluate the use of different techniques used to leverage and extendbrands.....................................................................................................................14LO4Evaluate techniques for measuring and managing brand value over time........14P5Evaluate different types of techniques for measuring and managing brandvalue using specific organizational examples.........................................................14M5Critically evaluate the application of techniques for measuring and managingbrand value about developing a strong and enduring brand..................................15M5Critically evaluate the application of techniques for measuring and managingbrand value about developing a strong and enduring brand..................................17Conclusion..................................................................................................................18References.................................................................................................................182
Introduction:In the competitive market brand is a significant asset for a company. A brand is somethingthat helps the customer distinguish and identify a company from other companies. Brandbears the identity of a company. If a brand is famous, it represents the reliability and qualityof the company's products and services. This marketing tool is very effective in positioningthe company image in the customer's mind. Today, every company is trying to improve thebrand value of their products. This way the companies are trying to take over the market. Inthis report, effective brand management has been discussed to improve the market equity fora particular organization.3
LO1 Understanding of how a brand is built and managed over timeP1 The importance of branding as a marketing tool and why and how it hasemerged in business practice.A brand is a good, service, or concept which is distinguished publicly from the other goods orservices. So that it can be identified and usually communicated or marketed to the customers(Fenn, Liang, and Prowse, 2003). This name or symbol is of the distinctive goods andservices of a particular company or organization. Branding is the process of making andselecting the name of a brand (Mosley, 2009).These are expressed in the form of symbols,icons, logos, infographics of the brand. Brands provide the customers with certain benefitsand values in a marketplace. A brand bears corporate identity in the market and make thecompany distinguished from the competitors.The process of planning and analysis regarding how the brand needs to be perceived by thecustomers is known as Brand Management (Mosley, 2009). The brand can make an image inthe mind of the customers through brand management that helps the company to build up agood relationship with the stakeholders especially with the customers. Indeed, brandmanagement is very much crucial for a business to make the goods or services produced orserved by the company distinguished from that of the other company (Mosley, 2009).Branding provides a unique identity of the company or products and the brand managementcan make the brand remarked to the market.As a marketing tool, branding plays an important role in a business organization.Brandingcan change the perception of people to a brand. It can help to be run a new business andenlarge brand awareness. There are several reasons for branding to be a largely used businesspractice.Branding makes Recognition:Through branding company gets recognition and thecustomer can come to have a clear concept or perception about the company(Kapferer, 2012). The iconic symbol is the most important thing of branding. It isessentially the face of the company.Branding Increases Business Value:Business value can be ensured by branding. Itincreases the value of the business by making perception or knocking the mind of thecustomers and by establishing appealing opportunities in the marketplace (Kapferer,2012).4
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