ASDA Brand Management: Strategies, Equity, and Value Measurement

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BRAND MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION....................................................................................................................1
TASK 1......................................................................................................................................2
P1, M1 Explaining the importance of branding as a marketing tool and how it has emerged
in business practices...............................................................................................................2
P2, M2 Analysing key components of a successful strategy towards brand in order to build
and manage brand equity.......................................................................................................4
TASK 2......................................................................................................................................7
P3, M3 Analysing various strategies of brand hierarchy, portfolio and brand equity
management...........................................................................................................................7
TASK 3......................................................................................................................................9
P4, M4 Evaluating how brands are managed in partnership and collaboratively both at
global and domestic level.......................................................................................................9
TASK 4....................................................................................................................................11
P5, M5 Evaluating various types of techniques to measure brand value.............................11
D1 Provide a critical evaluation that is supported by justified evidence demonstrating a
comprehensive understanding of branding within an organizational context......................12
CONCLUSION.......................................................................................................................14
REFERENCES.......................................................................................................................15

INTRODUCTION
Brand management is crucial and important for every business in order to remain effective in
the market towards customers that helps to make operations, production and profits more
effective. The report will cover the importance of branding as a marketing tool and how it has
emerged in business practices including key components of a successful strategy towards
brand in order to build and manage brand equity. It will also describe various strategies of
brand hierarchy, portfolio and brand equity management and how brands are managed in
partnership and collaboratively both at global and domestic level. Finally, the report will
demonstrate various types of techniques to measure brand value.
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TASK 1
P1, M1 Explaining the importance of branding as a marketing tool and how it has emerged in
business practices
BRAND
Branding can be described as a marketing practice for ASDA in which they create a symbol,
design or name that can be easily belonging and identifiable to the firm effectively. Branding
helps to determine the products and services of business and also distinguish it from other
brands in the market. It is important to make a memorable impression on customers and also
clarify the operations managed by business in terms of products and services offered to
consumers in the market (Punjaisri and Balmer, 2016). Customers can easily recognise
services of business over another from an effective brand name, symbol or design.
IMPORTANCE OF BRAND
Branding is very crucial for business that it not only helps to create impression on customers
but also allows them to know what to expect from the firm including quality, effectiveness
and requirement of products and services. It is also critical for firm because it has an overall
impact on business operations. It is very useful to drive business and its operations and also
enhance brand awareness in the market. Branding works as marketing tool for ASDA and
provide several benefits which are described below:
Branding gets recognition: Branding is an important element of business that it helps to get
recognition and become known in the market. The logo is an important element of branding
as it is an essential face of the business. Thus, a professional logo must be designed which is
memorable and powerful to make an effective impression on people at first glance.
Increase business value: Branding helps to increase business values by generating future
opportunities and business values. It helps to provide leverage in the industry and enhance
opportunities for firm. This helps to increase customers and provide benefits in terms of
expanding operations in the market.
Improve employee satisfaction and pride: It can be said that employees become more
satisfied when they work for a powerful and strong brand. This also helps to increase their
pride towards their individual work (Thaichon and Quach, 2015). The firm is able to work
more freely and enjoyably through high reputation of brand in the market. Employees love
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their work and feel more satisfied when they create a sense of belonging to the business
effectively.
Create trust within market: An effective, well-strategized and professional appearance
branding helps business to build trust within customers. It can be said that people likely to
purchase products and services of a firm that has professional and polished portrayal. This
helps business to create impression of being an industry expert so that public can trust
services offered in the market.
Supports advertising: Advertising helps a firm by direct reflecting its desired portrayal.
There are so much advertising strategies available for ASDA in order to promote their
products and services in the market. It will help customers to find enough information
regarding products so that they can understand their uses in their daily lives effectively.
The key concept for ASDA to manage their brand successfully in the market is to describe
their vision, mission, purpose, and characteristics and position that will help to communicate
its strengths and consistency. Consistency helps business to differentiate their services from
others and also create flexibility and relevancy in order to adopt certain changes according to
the market environment (Cavender and Kincade, 2015). The management is able to make
effective use of tactical strategies to enhance their productivity and profitability.
BRAND EQUITY MODEL BY KELLER
The model is crucial for business that it helps to develop strategies to manage brand equity
and hierarchy.
Brand identity: Brand identity is a design or symbol used by business for their products and
services from which customers can easily recognise services offered in the market (Keller,
2016). It also helps to increase customer awareness towards brand and also differentiate
services over another. This helps customers to choose products and services over another.
Brand meaning: Brand meaning communicate and describe the purpose and vision of
business in which two factors imagery and performance used by management to build a
strong and recognisable brand meaning. Here performance stands for demands and imagery
for psychological and social needs of customers in the market.
Brand response: Brand response is provided by customers in terms of their opinion and
feedbacks after using the services of Asda. Brand response is divided into two parts such as
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feelings and judgements of consumers that helps to manage brand equity effectively. The
firm must address judgements and feelings shared by customers in order to make their brand
superior in the market.
Brand resonance: It is important for ASDA management to accomplish feelings and
psychological bond of customers in order to maintain the repetitive behaviour towards
products and services offered in the market (Michele, 2018). It helps to enhance active
engagement, loyalty and love of customers towards brand which helps to manage the brand
equity effectively in the market.
The brand equity model by Keller is also known as customer based equity model which helps
business in terms of making strategies for the effective management of brand hierarchy,
equity and portfolio. It also helps to accomplish production, operational and profitability
goals and objectives.
P2, M2 Analysing key components of a successful strategy towards brand in order to build
and manage brand equity
BRANDING STRATEGY
The management of ASDA must evaluate and determine effective and efficient branding
strategies in order to identify needs of consumers in the market. The strategies also help to
make important changes within operations which provide quality and superior products and
services to customers. Customer taste, preferences and perception is also determined by
branding strategies so that brand equity can be managed effectively. The key components of
managing a successful brand strategy for managing brand equity are described below:
Brand loyalty: Brand loyalty can be described as a reflection of consumers attached to a
brand when faced with competition in the market in terms of quality, repetitive purchasing
behaviour and price. A loyal consumer sticks to a brand like a glue and hardly choose another
brand (Dao, 2017). Thus, it can be said that improving quality of services helps to enhance
loyal consumers for the brand and also increase effectiveness of brand equity.
Brand awareness: It is important for the firm to provide valuable and enough information to
customers about business operations and products in order to create brand awareness. It will
help to recognise and recall brand for a customer. In this regards, various branding strategies
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can be used by management to make consumers comfortable to choose Asda among
competition in the market.
Perceived brand quality: The firm must attribute quality to brand so that other products and
services offered to customers can perceive to have the same quality level. For example,
ASDA food products are produced with high quality, hence, consumer suspects that other
food items are also have the same quality. Thus, perceived quality helps to build sustainable
brand equity and trust within consumers.
Brand association: It can be said that a unique set of brand association helps towards
customer process and also retrieve related information about brand effectively. It helps to
differentiate among its competitors and establish positive image and attitude towards brand.
For example, ASDA could be associated to environment sustainability, luxury life style or to
safety. Thus, the main point here to consider is that the brand equity must be meaningful and
stronger so that customers can remember in their minds (Powell, 2016).
IMC: Integrated marketing communication is important for management of ASDA in order
to select the best strategy to communicate their vision and mission to customers in the market
such as social media or advertisement.
Proprietary assets: These features help a business to provide an effective competitive
advantage and protection of brand from other competitors over time in the market. That
includes, trademarks, established relationship, patents and intellectual properties effective and
efficiently.
BRAND EQUITY
It is important for the business to manage their brand equity that it helps to increase revenues
and sales by delivering quality services and products in the market. Services must be reliable,
recognisable and made of effective quality to enhance effectiveness of brand equity.
Target audience: Target customers are those people who are attached to ASDA when faced
with competition in the market in terms of quality, repetitive purchasing behaviour and price.
It helps to improve production and profits of business that more consumers are attracted
towards brand (Jackson, 2018).
Brand promises: Brand promise can be described as commitment given by business to their
customers regarding products and services in terms of quality and assurance. It includes
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information related to products such as its description and usefulness for a customer. It also
helps to meet requirement of market effectively.
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TASK 2
P3, M3 Analysing various strategies of brand hierarchy, portfolio and brand equity
management
Strategic management of brand portfolio, hierarchy and equity helps Asda to describe their
roles, scope, structure and responsibilities. There exist numbers of strategies for managing
brand portfolio which are as follows:
Branded house: Organization with the help of this strategy uses individual brand name for
showcasing its different products. This is effective in seeking the customer attention and
contributes further in boosting the sales. It also gives recognition to the new product.
House of brands: This model is effective in promoting sub brands instead of corporate firm’s
name. The model emphasises on product quality and features for attracting customers.
ASDA more or less focuses on House of brands that sells different type of products with their
unique name and identity.
Brand Hierarchy Management: It outlines strategies for identifying various elements of
brand and their associated products. It can be described as a summary of strategies for the
effective management of brand. The strategy is also useful for describing the common
elements and factors associated with the nature of brand. The brand hierarchy is based on
realisations that help to reproduce products and services of business and it also moves from
the top to bottom level at each step of succession.
Individual Brand – It includes multi branding that focuses on single brand name for
individual product for effective and easy recognition. It is important for Asda to use unique
and distinct brand name for different services by formulating brand strategies.
Corporate Brand – The brand name is recognized by name of an enterprise as brand name of
new product. Therefore, ASDA can successfully implement Corporate Brand Model.
Family Brand – It becomes easier for the organization to promote its products by utilising
individual brand name for number of its products. This helps the organization to establish
effective relationship with customers and stakeholders of the organization.
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Strategies for Brand Equity Management
Brand roles: The management of ASDA must define their roles and responsibilities in order
to make effective strategies for managing marketing of their services. It helps to achieve
perception and preferences of customers which provides strength to portfolio management.
Employees working within firm must be aware of their roles in order to manage portfolio of
products and services (Basit and Durrani, 2018). It will help to manage brand portfolio in
various situations.
Long-term thinking: The management must think towards long term strategies in order to
manage resources such as raw materials, equipment and other financial resources available
within firm. It will help to make strategies for the current and future management of brand
portfolio.
Consumer perspective: Brand portfolio management is effective to make decisions regarding
business operational activities and also consider different perspectives of customers. In this
regards, management is able to make use of qualitative and quantitative approach to achieve
an effective research of the market to manage their brand portfolio. In this context, customer
taste and preferences must be evaluated by management for effective portfolio management.
Business strategy: Strategies are formulated and implemented by management to accomplish
operational, production and profitability goals. In addition, they should also make strategies
for brand portfolio management to ensure that they are associated with market propositions
and values effectively (Xiong, King and Du, 2016). It will help to develop strategies and
plans that are helpful for managing an effective brand portfolio. This will also help to
improve and develop products portfolio and provide benefits in terms of long term growth
and development of firm.
A happy family of brands can be produced by making various roles, responsibilities and
differentiation in products and services. This helps to accomplish synergy, leverage and
clarity for the management of brand portfolio, hierarchy and equity.
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TASK 3
P4, M4 Evaluating how brands are managed in partnership and collaboratively both at global
and domestic level
STRATEGIES AND APPROACHES
Ignoring critics: A lot of critics arise about a brand in the market which can affect its
reputation and goodwill towards customers. It can be related to products and services or
procedures managed by business. The management of ASDA must ensure that they ignore
such types of critics and try to make quality and effective products for their customers which
will minimise the negative impact of these critics effectively.
Ordinary to beautiful: The management is also able to make strategies that are helpful in
making some certain changes in their products and services according to the market and
customers (Roy, Khandeparkar and Motiani, 2016). This includes, making ordinary products
into beautiful in terms of packaging and attractiveness. This will help to meet demands of
consumers according to their taste and preferences and firm is able to expand their operations
at both domestic and global level effectively.
Discounting: Providing discount on old stock helps business to enhance their sales and
revenues and also attract new customers in the market. The strategy is useful for firm in
improving their profitability and creating new customer base. It will also increase the market
share of firm so that they can produce more effective services for their customers and receive
competitive advantage.
Justification of price: Customers in the market are always worried about the price of
products and services. They look for services that are provided by business in cheap rates
with superior quality. In this regards, price justification strategy must be prepared by
management of ASDA in order to provide justification of prices towards their products and
services. It will help a customer to understand why the product is of high or low price over
another (Lasserre, 2017). It will also help to make customer loyal towards brand and increase
awareness in the market.
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BRAND REINFORCEMENT AND REVITALISATION
Brand reinforcement is a strategy used by management to enhance effectiveness of brand
equity in the market. Customers provide feedbacks and share their feelings for products and
services, so that firm can make necessary changes accordingly. The strategy may be affected
by competition, new technology and regular changes in customer taste and preferences.
Hence, ASDA management can come back to their previous roots to recover the lost
resources and equity. This process is called revitalisation.
Identification of opportunities: Opportunities helps business to grow and develop their
operations, productivity and profits. It is important for the management to identify
development and growth strategies to enhance its operations at both domestic and
international level.
Ways to use brand: There are different platforms available for business in order to present
their operations and services in various sectors. It will help to attract both new and potential
customers and will improve the brand position in the market.
New markets: The firm is also able to enter in new markets so that productivity and
profitability can be increased over time. New markets will help business to acquire new
customers and provide a chance to expand their market and get higher position and
competitive advantage.
PARTNERSHIP AND COLLABORATION
Partnership and collaboration is a way from which ASDA is able to expand their operations
in new areas and countries. In this regards, products and services will be new for the market
and customers which will help to enhance its sales and revenues. Joint venture with any brand
can help firm to improve brand image in customers mind and they are also able to deliver
their services in new and different ways (Zhang, Benyoucef and Zhao, 2016). It will help
management to increase their brand equity and value at both domestic and international level.
In addition, management must manage strategies for collaboration and partnership activities
to enhance their profits and market share effectively.
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