Brand Management Report: Analysis of Dyson Ltd's Strategies

Verified

Added on  2023/01/06

|19
|6479
|78
Report
AI Summary
This report provides a comprehensive analysis of brand management strategies employed by Dyson Ltd. It begins with an introduction to brand management as a marketing tool, emphasizing its importance in creating a unique identity and competitive advantage. The report then delves into the key components of a successful brand strategy, including brand perception, target audience, brand positioning, and brand extension, all contributing to brand equity. The analysis further examines how Dyson manages its brand over time using models like Keller's brand equity model, evaluating brand revitalization and reinforcement strategies. The report also explores portfolio management strategies, brand hierarchy, and brand equity management techniques, providing a detailed overview of how Dyson leverages these approaches to maintain and enhance its brand value. Finally, the report assesses different techniques and tools for managing and monitoring brand value in the marketplace, culminating in a discussion of how Dyson has developed a strong and enduring brand. The report is a valuable resource for students studying marketing and brand management, offering insights into real-world applications and strategic decision-making.
Document Page
Brand Management
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
P1) Illustrate the value of Branding as a marketing tool along with its emergence within
organisation............................................................................................................................3
P2) Analyse the key components of a successful brand strategy for building and managing
brand equity............................................................................................................................4
M2) Apply appropriate and validated examples within an organisational context................6
TASK 2............................................................................................................................................7
P3) Analyse different strategies of portfolio management, brand hierarchy and brand equity
management............................................................................................................................7
M3) Critically analyse portfolio management, brand hierarchies and brand equity using
appropriate theories, models and frameworks........................................................................8
TASK 3............................................................................................................................................9
P4) Management of brands collaboratively and in the partnership at domestic and Global level
................................................................................................................................................9
M4) Evaluate how different techniques are used in order to leverage and extend brands...11
TASK 4..........................................................................................................................................11
P5) Different techniques and tools to manage as well as monitor the value of brand at market
place......................................................................................................................................11
M5) Monitor applications of different techniques to measure and manage brand value to
evolve a strong and enduring brand:....................................................................................13
D1) Develop an evaluation and justified it with appropriate evidence by demonstrating detail
understanding of branding in context of organization:.........................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
Document Page
INTRODUCTION
Brand management is a marketing function that is related to adopting of techniques for
enhancing the value of a product line. It is a function that is used by organisation for purpose of
leading and attracting customers. Brand posses a impact on the purchase decision of customers.
Present report is based in Dyson Ltd. Which was started in 1991 and was founded by James
Dyson. The organisation is dealing in products such as hand dryers, hair dryers, vacuum cleaner.
The report is based on importance of marketing and different components of marketing that are
related to managing of partnerships and collaborative relationships at global level (Ströbel and
Germelmann, 2020). Portfolio management strategies and hierarchy management strategies are
part of this report that is further assisting in development of a suitable brand image. There is
evaluation of techniques of managing and measuring brand values.
MAIN BODY
P1) Illustrate the value of Branding as a marketing tool along with its emergence within
organisation
Branding is an important marketing function that helps in order to create an unique
identity of an organization at market place. It includes symbol, logo, colour and other visual
elements belongs to company. This practice is essential to make a difference in product and
services offer by business entity from other competitors. Dyson has strong brand value among
the consumers of UK (Świeczak, 2016). The importance of branding as a marketing tool in
selected company is elaborated as follow:
Develop Customer preference: Branding function is crucial to create a difference at
market place. When consumers get satisfy with a particular product they give preference to the
goods and services offer by that brand. It helps to create a loyal customer base and give
competitive advantage to company. Marketing managers of Dyson, ensure to create a positive
image of company among buyers. Consumer give preference to products of company over other
competitors such as Bosch, Samsung electronics and so on. They need to use attractive name,
logo, colour and other elements in order to grab the attention of new buyers. With this, it is
analysed that managers of organization need to more focus on branding strategies and adopt new
practices as per current trend.
Document Page
Enhance market share: Branding helps to position the product or service among target
segment. It creates an unique identity of company at market place due to which consumer give
preferences to the products of a particular brand. Furthermore, it is essential to attract more
number of new buyers that will increase revenue of organization. This function of marketing
helps a company to enhance its market share by increasing in existing customer base. Dygon has
strong presence in the market. They are using effective brand marketing practices to
communicate their USP with target audience. Mangers of company are able to make efficient
strategies and policies to promote their brand in different countries (Barger, Peltier and Schultz,
2016). It will enhance their business and increase in the revenue and profitability. Nowadays,
competition is increasing rapidly, so it is essential for organization to use creative and innovative
approaches such as name, logo, colour, tag lines in order to increase in number of consumers and
escalate market share.
Competitive advantage: As per the prevailing trend, it is essential for business entities
to differentiate themselves in order to sustain at competitive market place. Brand demonstrate the
culture, identity of overall company that works as a point of difference for consumers. There are
various other competitors of Dyson present at market place such as Samsung electronics, Bosch
and many more (Schaufelberger and Holm, 2017). Branding practices will help marketing
managers of company to create a difference in their products. It will help them to grow and
sustain at competitive market place for a longer period of time.. It is monitored that organization
should adopt brand extension strategy in which they can offer new products to target audience
under the same brand name. It assist them to take advantage of their existing brand value at
market place and simultaneously increase the profit margins
Above discussion emphasis on the importance of branding function in the current
scenario. It has been analysed that in order to create preferences among consumers, earn higher
profits, it is essential to formulate efficient brand strategies.
P2) Analyse the key components of a successful brand strategy for building and managing brand
equity
Brand equity is the premium value that is generated by recognized products. There are some
crucial products and services that lead to creation of premium value. In case of Dyson it is
necessary to manage the brand equity that is that posses a direct impact on productivity and
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
performance of a organisation (King, 2017). Brand strategy is regarded a a action plan that has to
be considered for enhancing the brand image of a organisation. It is necessary to evaluate some
key components of brand strategy for targetting audience, brand perception, brand promise and
brand positioning. All such components are leading to creation of significant value towards
brand equity for Dyson. Some of components are discussed below:
Brand perception: It consist of the perception of brand image in external market and customers.
It is crucial for organisations to identify and further analyse a market area to form suitable brand
strategies. It can be said that brand perception is based on the images that are developed by
customers according to the quality and variety of products that is actually experienced by
customer.
Target audience: It is regarded as customer base and market area that is considered by a
organisation for offering their products. Brand equity is influenced by target audience of Dyson
as Brand equity assist in managing of product especially according to customers choices and
preferences. It is the target market that is being targeted by brands so as to influence the
customers and crate product according to customer demands & specification.
Brand positioning: It is described as different brand strategies hat helps in creation of a positive
image for a organisation and is products by focussing on positioning of the brand. In Dyson this
process assist in increasing sales (Wang, , He and Barnes, 2017). it can be summarized that a
brand can create effective position in the external market when there is focus on strategy
formulation according to the changing dynamic environment.
Brand extension: It is a process that is regarded where the focus is on already developed market
with existing brand name. Dyson has been able to extend their products with the help of their
established brand name that is leading to enhancing their present level of sales of newly launched
products. Brand extension is a tool that can assist a brand by using their existing brand image to
launch some new products or add new products to existinglines.
M1) Evaluate how brands are managed successfully over time using application of appropriate
theories, models and concepts
There are different frameworks and model that is supportive for organisation for management of
brand in a more appropriate manner. Customer based brand equity model that is Keller's brand
Document Page
equity that is significant for managing brand for a respective organisation. This model consist of
four models that is recognizing loyalties and customer attitude.
Level 1: Brand salience:
It is identification of ways that can help customers in differentiation one brand from another.
Brand identify can benefit Dyson to attract more customers. It is primary stage and is targetting
particular customer section.
Level 2- Brand meaning:
It is a stage that is regarded as communication and interaction with customers according to
products and services in which the brand is dealing. This level is divided in two basic parts that
is performance & imaginary. Imagery is regarded as customer satisfaction at psychological and
social level.
Level 3: Brand response:
It consist of customer response while they are purchasing a products from Dyson group. In
Dyson group the organisation is willing to focus on culture of society to enhance the value that is
being perceived by customers so that they are able to timely respond to the changing pattern and
nature of buying behaviour of their customers (Maldonado-Guzman, Mellado-Sille. and Reyes-
Ruiz, , 2018).
Level 4: Brand resonance:
It is the last stage that is sometimes difficult to be reached by organisations. This stage is reached
when there is It includes company relationship with their future potential and present target
market of customers.
This model is going to assist in assessment of progress made by Dyson group. Below mentioned
is the way assessment is being made of the progress of this brand: Brand revitalisation: It is a strategy that is adopted when products are reached at last
stage of their product life cycle. In present scenario of Dyson group this strategy is not
successful as Dyson is at the growth stage where they are launching new product to
ensure success in market.
Brand reinforcement: In this focus is on development of brand equity by increasing the
popularity of brand for their existing customers (Kapustina, and Zhadko, 2019). Dyson
has able to maintain brand reinforcement by acknowledging their customers and
increasing the value that is being perceived.
Document Page
M2) Apply appropriate and validated examples within an organisational context.
Dyson is a British brand that is dealing in high quality products and services. The organisation
has been able to crate a storing brand equity and brand value with use of advance technologies.
Respective organisation have to consider value to be provided to customers by features and
design of the product in which the organisation is dealing. Dyson is mainly dealing in electronic
products that includes hair dryers, vacuum cleaner. All these aspects are part of developing high
brand equity of Dyson.
TASK 2
P3) Analyse different strategies of portfolio management, brand hierarchy and brand equity
management
Portfolio management:
Portfolio management consist of different investment tools that consist of mutual funds, stocks,
bonds, cash and shares that are determined to take timely decisions. It is regarded as strategies
that have to be considered for understand the trend of merging ideas in market.
Brand portfolio strategy: It is a strategy that is part of brand equity. There are three
components of a brand portfolio strategy that are adopted for purpose of formation of appropriate
strategies. It consist of achievement of high returns with low level of risks (Shaari, 2018). Dyson
is using this strategy for achievement of higher sales and cost management. There are two
strategies of portfolio management that are used by organisations as mentioned below:
Active portfolio management strategy: It is a portfolio management strategy that is based on
particular management style for generation of results so that there can be long run survival of
organisations and competitors in external market. Dyson is investing huge amounts for
generation of higher profits to achieve a competitive position in market.
Passive portfolio management strategy:
It is a strategy that differs from active portfolio Strategy where there are low cost investments for
generation of better outputs. Dyson has not adopted passive portfolio Strategy as there sum of
investment are generally very high.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
Branded house: It is a branded house Strategy that is easier to manage and a cost effective
option for brands. As in this all the marketing activates are dedicated to one brand. There many
be complex branding structures that are becoming more expensive and difficult to manage as the
brand is growing. On this Dyson will build a string brand image that will be easily mensurable
and recognisable by the target market.
House of brands: It is a complete opposition strategy of branded house that is sub brands are
promoted and features rather than a corporate brand. In this the hierarchies are very complex. In
this the firm is operating like a holding company for different brands and each brand is managed
with a separate company that is important to fulfil according to the requirements of this strategy.
Hybrid strategy: It is strategy that is leveraging the strength of power and credibility of a
corporate brand that is according to the specification and uniqueness of the brand. It allows the
Document Page
company to expand further its markets share to other different market areas in order to enhance
the process of corporate brand visibility.
According to the above mentioned three strategies it can be siad that the most suitable
marketing strategy for Dyson is to use branded house when all the marketing efforts will be
focussing on just one brand and it has to be managed by Dyson. It increase the overall focus of
the target market towards different products that are manufactured by this brand.
Brand Hierarchy: It is a process that is assisting organisation for enhancing their present
goodwill. In Dyson there is adoption of brand hierarchy in three different stages:
Leverage: It is the initials stage where the organisations is willing to build a brand image at
horizontal & vertical axis (Depecik, 2016).
Clarity: There has to be clarity of all the gaols and objectives that provides basic direction of the
way strategies have to be implemented in long run in the organisation.
Synergy: In the third stage all activities are to be synchronized with company objectives. The
major objective of Dyson is to provide high quality products that can lead towards achievement
of higher competitive advantage.
Types of brand hierarchy:
Umbrella branding: It is a types of branding strategy that is adopted by organisations
who already posses a competitive position in the market because of established brand
image.
Document Page
Corporate branding: Dyson is using this strategy to maintaining their brand image.
There is focus on established brand name for purpose of attracting more number of
customers. In this there is launching of new products with pre determined quality
standards
Brand Equity management:
Brand equity management is adopted by transnationals or analysing different aspects that are part
of the brand as mentioned below:
Brand awareness: Brand awareness is a aspect of brand equity that is used by different target
segment of customers who are willing to build brand equity (Sanz-Marcos, 2019). In this there
is focus on creation of awareness by reminding customers about existing products that are
already present in the market. It leads to increasing visibility of brand for future prospective
customers.
Brand association: It is related to building of connection with customers so that they can recall
a memory of a brand. In this customers can form association with brands according to
interaction, quality, variety and prices that are offered by such brands. The quality and variety
are two basic sources that is helping Dyson in creation of higher brand association with their
customers.
Brand Loyalty: there is presence of customer loyalty for a brand when there is higher
preferences as compared to different brands part of same industry. It related to respective
customer behaviour. It is a very crucial aspect that is used for measuring brand equity as it is part
of post purchasing customer behaviour that is indicating customer patronage for a longer
duration of time. Dyson is using this aspect to ensure repeated purchase of customers.
M3) Critically analyse portfolio management, brand hierarchies and brand equity using
appropriate theories, models and frameworks.
There are different approaches and models that are adopted for analysing the brand hierarchies,
portfolio management and bran equity. For development of brand equity the most suitable
method is to apply Keller's brand equity model. It is a popularly used model that is used ti
identify the appropriate hierarchy that is required to be considered by a organisation for
advertising and promotion of brands.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
TASK 3
P4) Management of brands collaboratively and in the partnership at domestic and Global level
Brand collaboration & partnership:
Collaboration or co branding is a strategy that is adopted by brands as a strategic alliance
Strategy. It is a common tern of co branding and brand partnership that is part of different
branding collaborations. The main aspects of co branding are to combine market strength, brand
awareness, positive associations of two or more brands for ensuring higher premium for
customers.
Brands management at domestic level:
Managing branch at domestic level is related with some of the crucial aspects because
branch affected by high competition supply chain regulations and some of the distribution issues
that require constant advocacy and high reputation management. Organisations to manage this
plethora of external and internal factors across multiple geographies Global brand management
practices have to be responsive growth-oriented resilient and future proof. Dyson is managing
their brand at visible ensuring a consistency in the brand identity and marketing activities that is
the core role of this organisation. There is management of teams across different marketing
teams on different strategic issues like managing brand guidelines and ensuring higher
consistency in the positioning of brand and localisation of the brand communities. It is for the
leading towards integration of local marketing strategy in the domestic brand strategy which is
for the facilitating the exchange of knowledge and best practices between Global branding teams
and local teams of Dyson.
Brands are managed at global level:
Brands are managed at international level by balancing the consistent brand guard race
with the freedom to adapt the leverage local growth opportunities. Evaluation of brand strategy
against the vision commission to ensure that there is consistency in the Global brand promise
across regions and countries. There are three key issues that are focused by Dyson in order to
manage the brand at global level.
Adapt: This before going through International borders Dyson understands the consumer going
to choose my products with other similar products that are already produced in the home country.
Document Page
In this Dyson is focusing on the innovations and surely connect two cultures are not the same so
there has to be effective marketing strategies.
Provide: In this concept Dyson is focusing on providing higher value to consumers so that there
is equation to the price Point by offering simplicity high quality of product and convenience that
will for the lead to Innovative purchasing process to differentiate from other competitive brands.
Brand: In this there has to be building of brand image so that there is dedication and timing that
is properly invested by the management of Dyson in giving the brand a voice that comes to
cultivating their brand image. In case of Dyson is focusing on building of a social media team so
that there is proper engagement of prospective customers and using a need the campaign created
on social media events. It was the leads to higher visibility that creates a positive image of the
organisation and save them from making terrible PR mistakes while marketing.
Above discuss are three strategies that are used by Dyson for the purpose of managing their
International brand image at global level.
Dyson is a brand that is managed by balancing of the “consistent brand guardrails”
where there is freedom to adapt to leverage the local opportunities of growth. There is constant
evaluation of the strategy of brand against guardrails, core mission and vision so that there is a
consistency in the way Dyson is offering a brand promise across all their established locations.
In Dyson it is ensure that there is no compromise with the overall mission, vision or the
core values of the brand so that there is higher consistency across all the regions and countries.
Further the emergence of technology enabled solutions have completely changed the
practise of brand management, there are forward thinking organisations that have identified the
benefits and scalability of technology so that there are quickly adopted solutions. There is use of
a marketing software in Dyson that is supporting their global brand management practises.
Global branding & its positioning in market:
Global branding is strategy that is used in organisation for ensuring that products are getting
required recognition (Powell, 2019). There is promotion of brand by use of attractive marketing
strategy with similar quality products & services. This aspect is part of standardised advertising
& marketing strategies for developing a product.
chevron_up_icon
1 out of 19
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]