Comprehensive Analysis of Branding Strategies and Techniques

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This report provides a comprehensive analysis of branding in the modern business environment, emphasizing its importance as a marketing tool and its evolution in business practices. It delves into the key components of a successful brand strategy, focusing on building and managing brand equity through models like the Keller Brand Equity Model and the Aaker Model. The report evaluates how brands are managed over time, using examples from Unilever and Ben & Jerry's, and examines different strategies for portfolio management, brand hierarchy, and brand equity management. Furthermore, it assesses collaborative brand management at both domestic and global levels, critically evaluating techniques for leveraging and extending brands. The study also evaluates techniques for measuring and managing brand value, providing specific organizational examples and a critical evaluation of their application, ultimately offering a comprehensive understanding of branding supported by justified evidence.
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A new era of Branding
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
Explaining the importance of branding as a marketing too land why and how it has emerged
in business practice.................................................................................................................3
Analysing the key components of a successful brand strategy for building and managing
brand equity............................................................................................................................5
M1 Evaluating how brands are managed successfully over time using application of
appropriate theories, models and concepts.............................................................................7
M2 Applying appropriate and validated examples within an organisational context............7
TASK 2............................................................................................................................................7
Analysing different strategies of portfolio management, brand hierarchy and brand equity
management............................................................................................................................7
M3 Critically analysing portfolio management, brand hierarchies and brand equity using
appropriate theories, models and frameworks......................................................................10
TASK 3..........................................................................................................................................11
Evaluating how brands are managed collaboratively and in partnership both at a domestic and
global level...........................................................................................................................11
M4 Critically evaluating the use of different techniques used to leverage and extend brands13
TASK 4..........................................................................................................................................13
Evaluate different types of techniques for measuring and managing brand value using specific
organisational examples.......................................................................................................13
M5 Critically evaluating the application of techniques for measuring and managing brand
value.....................................................................................................................................15
D1 Provide a critical evaluation that is supported by justified evidence demonstrating a
comprehensive understanding of branding...........................................................................15
CONCLUSION..............................................................................................................................16
REFERENCES:.............................................................................................................................17
Books and Journals...............................................................................................................17
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INTRODUCTION
Branding helps the organisation to differentiate their products with other individuals
which are present in the market. It is one of the most crucial aspect for the company. It generally
drives organisation brand image in market. Unilever is a multinational organisation which
provide various products to consumers in market. They provide the everyday essential products
which helps them to become more profitable in the market. There are various brands which
comes under Unilever (Ruiz-Real, Uribe-Toril, and Gázquez-Abad, 2020). Ben and Jerry's is a
famous cream manufacturer which is handled by Unilever. They had achieved a significant
growth in the market by offering quality products to the consumers. The report aims to analyse
about understanding the importance of branding in today's competitive market. On the other
hand, in this report there will be brief discussion about key components which helps the brand to
formulate various strategies this will help them to generate more revenues in the market. Along
with that, there will be evaluation about different strategies of portfolio management. For further
instance, in this report there will be discussion about different types of techniques which helps
the measure and manage the brand value in an effective manner.
MAIN BODY
TASK 1
Explaining the importance of branding as a marketing too land why and how it has emerged in
business practice
Branding helps the company to differentiate their products in the market. The consumer
can buy the products of their favourite as per their needs and wants. The organisation needs to
offer excellent quality products to the consumer to attain maximum customer satisfaction. There
is a significant importance of branding which is described below:
It represents which the organisation has promised to the consumers – Branding
essentially helps the organisation to provide better products which they had promised to
the consumers (Spry, and et.al 2021). Ben and Jerry has been providing great quality
products to the consumers. They had promised to provide good quality products to the
consumers at an affordable price.
Branding helps the connect wit the customers emotionally – Effective branding can
help the organisation to communicate with the consumers. They can offer great products
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to maintain a positive brand integrity in the market. Ben and Jerry use various techniques
to achieve a systematic growth. They had managed to attract various customers with the
help of different strategies and approaches.
Branding has become an emerged business practice which helps the organisation to create
a positive impression in front of the consumers. They are able to attract various customers with
the help of effective marketing (Pizzi, Vannucci, and Aiello, 2020). It allows company to build a
healthy relationship with the customers. It is one of the most prominent business practice which
the organisation is following in today's world. In relation Ben and Jerry they are enhancing the
customer experience by providing quality products to the consumers. This will help them to
generate more revenues in the market.
Branding has actually begin in the era of 1950s. The companies tends to become more
efficient and promote their products to achieve great profitability in market. In the beginning
most of the organisation use the radio to promote their products. After that there is a significant
change in promoting the goods and services. In this new era of branding there are various
methods and new platforms like Facebook and Instagram which the companies use to indulge in
different campaigns. They focus on attracting more customers to enhance the overall revenue of
company.
Analysing how branding has emerged as a business practices
Most of the organisation which is been commencing their operations in the market using
branding as an important tool which helps them to gain a competitive advantage over other
competitors. It is the emerging business practices which is been the major source for the growth
of the organisations. Ben and jerry has analysed the market conditions and use branding as a tool
to attract new audience. There are various factors on how it has become the emerging business
practices which is been described below:
Allocating the desired goods to the consumers – This is the most common phenomena
which states that branding has been emerging business practices. Most of the companies
use the marketing tactics to attract customers and provide the quality products which they
have promised. Ben and jerry is been commencing their business operations for a longer
period of time. The organisation engage the customers with the advertisement in which
they promise the quality products to the consumers. Ben and jerry has analysed the
marketing trends and providing the quality goods and services to customers. They use
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branding as the tool and use new social media platforms to attract the customers to
enhance the sales in the market.
Analysing the key components of a successful brand strategy for building and managing brand
equity
The organisation can establish a successful brand strategy which helps them to attract
various consumers ion the market. There are multiple models which can be used is mentioned
below:
Keller Brand Equity Model – It is also called as an customer based model. The
organisation can offer better services to the consumers. There are multiple components in this
model which is mentioned below:
1. Step 1 brand identity – In this step the organisation needs to create brand awareness of
the product. The company needs to decide the target audience to sell the particular
product or service (Perkins, Khoo-Lattimore, and Arcodia, 2020). Ben and Jerry has
diversify their business and sell the products to different consumers in the market. Ben
and jerry identified their way of doing out the operations in the market. Ben and jerry
have build their identity by offering the products according to the customer preferences.
This will help them to gain a competitive advantage in the market and they have managed
to create a positive brand integrity in the market.
Step 2 Brand Meaning – In this step the organisation needs to identify what is the value
of their brand in the market among different customers. Ben and jerry's needs to be create
a positive brand value in the market to enhance the sales volume. The organisation has
build their brand image by fulfilling the needs and desired of customers. There are
various measures which is been taken by the company. Ben and Jerry is been optimising
their performance by providing them unique products which include their new products
like organic ice cream etc. It enhances the lifestyle of the customers by providing the
healthy organic products.
Step 3 Brand Response – In this there are various factors which typically helps the
organisation to understand the customer response. Ben and Jerry can provide excellent
quality products to the consumer to achieve maximum consumer satisfaction. In relation
to the customer satisfaction Ben and jerry has implemented feedback system which helps
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them to improve the areas in which they are lacking and identify the essential needs of
the customers which they want to improve it an effective manner.
Step 4 Brand resonance – The organisation needs to create healthy bond with the
customers to incur more profits in market and achieve the loyalty. It consists of four
categories which includes behavioural loyalty, sense of community. Enhancing
engagement, attitudinal attachment (Verčič, 2021). The organisation needs to work in a
effective manner to create a special bond in the mind of the consumers. Ben and Jerry is
been doing their operations continuously for a longer period of time. They have managed
to build a loyal customer base which will help them to gain viable position in the market.
They are using several techniques to satisfy the customer wants and needs and establish
and healthy bond with them. Through this they have to create the positive brand equity in
the market.
Aaker Model
It helps the organisation to create various unique paths on which they can clarify the
brand strategies. There are four aspects in this model which is mentioned below:
Brand Awareness – The organisation can create brand awareness with the help of
different technological tools. This will help the company to achieve great results in
future. On the other hand, in relation to ben and jerry's they had managed to achieve
systematic growth in the future (Peck, 2019). They had creative a positive brand image in
the industry by offering high quality products.
Perceived quality – It is the impression which customer experience while using an
excellent quality product or service. Ben and jerry's can attract new potential audience by
providing unique products which is excellent in quality. They need to understand the
changing preferences of the consumer.
Brand Association – It is a mental connection which include multiple activities. There
are different factors concept of the brand, image, experience, interest etc. Ben and Jerry's
needs to influence different consumers to purchase their products with the help of
different marketing strategies.
Brand Loyalty – The company needs to provide excellent products to the consumer to
improve their brand image in the market. In relation to Ben and jerry's they are providing
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new and unique products according to the consumer preferences. This helps them to
attain maximum customer satisfaction. They can generate increased profits in the market.
Differences in these models
Keller brand Equity Model enhances the brand performance by improve their image
and brand resonance in the market. On the other hand, in Aaker model there needs to be
perceived quality of the products (Mucundorfeanu, 2018). The organisation needs to endorse
their brand product with the help of different strategies and methods. Ben and jerry's can use the
Keller brand equity model to create a positive brand value in market.
M1 Evaluating how brands are managed successfully over time using application of appropriate
theories, models and concepts.
It is evaluated that brands can be effectively managed in order to increase the sale and
profitability of an organisation. Ben and Jerry's have used Keller Brand Equity Model so that
they can provide best services to their customers. It enhances the awareness of products and
services among the targeted customers which results in higher revenue generation. This model
included 4 steps which aims to increase the engagement of customers (Yang, and et.al 2020).
They have also used Aaker model which establish the unique path for an organisation so that
they can offer products in advanced manner. Brand loyalty can be easily increased with the help
of these models which assist Ben and Jerry's in establishing their better image in market.
M2 Applying appropriate and validated examples within an organisational context.
It is essential to maintain the effective brand image in the market so that reputation can be
maintained in desired manner. Ben and Jerry have used Aaker model in order to establish the
brand position which is necessary in order to expand the operations (Maurya, and Agarwal,
2018). Keller brand Equity Model improves the performance and productivity of the brand image
so that customers can get the desired products and services. For example, Ben and Jerry provide
higher quality of products and services so that they can acquire large portion of market.
TASK 2
Analysing different strategies of portfolio management, brand hierarchy and brand equity
management
Portfolio management helps the organisation to select and prioritize various objectives
which could help them to achieve the strategic goals and objectives in the market(Lucarelli,
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2018). To build an effective portfolio the organisation needs to utilise the resources in an
significant manner. Portfolio Management process is mentioned below:
Inventory – The organisation needs to identify the resources and manges the allocated
budgets to achieve the strategic goals and objectives in the market. Ben and jerry has
managed to build and effective supply chain by using the new technological tools and
aspects. This helps them to become better and carry out the operations in an effective
manner.
Analyse – This stage helps the organisation to mange the cots budget and resources
which needs to be utilised in an effective manner. Ben and Jerry has analysed multiple
strategies which helps them set the effective budgets of their products and services which
they provide to the customers.
Align – There are different opportunities on which the company can capitalise in the
market. They need to establish a proper balance and align the projects in order to achieve
the necessary goal. Ben and Jerry is been focusing in building a new project and
providing the new quality products. They have aligned a better structure which they have
been established in the workplace.
Manage – This is final step in the strategic management process the organisation needs
to manage the resources effectively. This will help them to generate more revenues in the
market. Ben and jerry has managed the activities in a better way and utilise the resources
in an effective manner to achieve a better growth in the market.
Brand Hierarchy
It helps the brand to provide systematic structure. There are various elements which can
implemented by the organisation (Khedher, 2019). It determines how the brand will perform in
the market. There needs to be a systematic structure in the workplace. There are three types of
brand hierarchy which is mentioned below:
Corporate – This is the highest level of hierarchy the individual needs to identify
different structure of their product and service. In relation to Ben and Jerry's the follow a
systematic structure which helps them to provide the essential products and services in
the market. Ben and jerry workplace has the positive atmosphere in which the employees
can work in a productive manner. The organisation has carried out the operations
effectively and achieve the better prosperity in market.
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Endorsed – This is the component where different other organisation promotes the
products and services of the brand. Ben and Jerry's comes under a regulating brand which
is Unilever. They promote their products in the market. Ben and jerry has endorse and are
ba;e to set up the positive image in the market. They have endorse their products with the
help of new technological tools which includes new digital platforms like Facebook,
Instagram etc.
Individual – These brand promotes the products without any parent company. There is
no link between the individual brand with other companies which are present in the
market. Ben and jerry parent company is Unilever which is one the fastest growing
organisation all over the world. Ben and jerry can take strategic decisions in relation to
their growth and evolve their strategies in the market.
Brand equity
It describes the brand value of the organisation. There are four factors in the brand equity which
is mentioned below:
Brand loyalty – The organisation needs to establish a positive brand image in the
market. This helps them to generate more revenues and achieve greater results in the
future (Keller, 2021). In relation to the Ben and Jerry's they had managed to achieve
positive brand in the industry by providing excellent quality products to the consumer.
Ben and jerry has loyal customer base due to the satisfying customer experience and the
excellent quality goods which they have been providing. This helps them to build the
positive brand equity in the market.
Brand Awareness – There are various platforms which could help the organisation to
create a positive brand awareness. They can indulge in various campaigns to attract
potential customer in the market. In this new digital era the brand can attract the
individuals about multiple products and services. They can enhance the overall sales in
the market. With the new technological advancements the company can promote their
products effectively. Ben and jerry has created awareness in the market by enhancing the
services and their quality of the goods. They have also implemented the digital
infrastructure which will help to provide the enhanced customer experience in the market.
Brand associations – In this stage the organisation tells about the uniqueness in the
product. The organisation needs to offer new and unique products according to the
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customer preferences. This will help them to generate more revenues in the desired
industry. Ben and jerry is been using new methods to fulfil the customer desired and
wants. The management has taken special measures by introducing the three pillar system
which includes care, collaborate and improve. Through this they are able to provide the
best services to the customers and uplift the brand equity in market.
Perceived quality – It is the impressions which the consumer demands from the
products. In relation to Ben and jerry they are indulge in providing quality products to the
consumers. This helps them to attain maximum customer satisfaction. They are also
achieving positive brand image in the market. The quality of goods which is been
provided by Ben and jerry provide the never imaging experience to the customers. This is
the major reason they have managed to established a positive brand integrity in the
mindset of the customers.
In relation to ben and jerry they had maintain the quality of their products. They provide
various ice cream flavours which helps to attract various customers in market. They had to
maintain the perceived quality through which they are able to generate more profits in market.
The organisation has managed to build a positive brand integrity in market. This helps
them to become more competitive among various other competitors.
M3 Critically analysing portfolio management, brand hierarchies and brand equity using
appropriate theories, models and frameworks
It is essential to manage the projects of an organisation so that return on investment can
be increased in effective manner (Iyer, Davari, and Paswan, 2018). Changes can be managed in
desired manner with the help of theories and models which include inventory and align so that
organisation can enjoy smooth procedure. Brand hierarchy enhance the productivity of an
organisation with the help of maintaining formal structure. Ben and jerry follow all the
procedures strictly so that they can manage their brand hierarchy in appropriate manner. Their
brand equality affects the sales and profitability which should be improved by taking necessary
actions. Brand awareness should be focused by organisation so that they can attract audience in
best possible manner.
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TASK 3
Evaluating how brands are managed collaboratively and in partnership both at a domestic and
global level
The brand influence in multiple partnerships which helps them to promote their products
and services in the market (Hospers, 2020). The brand can attract different consumer in the
market. They can collaborate on different social medial platforms which includes Instagram
Facebook etc. The brand can enhance their reach over different customer which are present in the
market. This will also help them to generate more revenues in the market.
There are various practical examples of the brand which has indulge in partnerships to
promote the products and services in the market.
Go Pro and red Bull – Both of the brand has collaborated to attract various new
customers in the market. They promote their products and services in different concerts,
conferences etc. They had managed to enhance their sales in an effective manner. This
also help both the organisation to diversify their business operations in various other
regions in an significant manner.
The organisation needs to manage the collaboration at the domestic and global levels inn
an effective manner. They can formulate different strategies to attract the customers in the
market.
Domestic level – In domestic level the organisation can collaborate with other brand to
promote the products in a specified region. The management needs to work in an effective away
and formulate different strategies to attract new target audience in the market. There are sic steps
which the company needs to follow is described below:
Define the desired outcomes – The company needs to analyse all the factors with the
changing market scenario. They need to define the desired outcomes of the ventures in
which they are regulating. The management needs to establish an effective plan in order
to enhance more revenues in the market.
Endorse the process – The company needs to be collaborative there are various desired
outcomes which needs to be analysed in an effective manner (Guenther, and Guenther,
2019). The organisation needs form an effective process which includes various factors.
This will help the company in indulge in the collaborative partnership significantly.
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Developing alternatives and options – The organisation to make a strategic plan which
includes a process. This will help them to enhance the overall sales in the market. In case
of any loss there are various plans which needs to be prepared by the organisation.
Evaluate select and refined option – The management needs to select a viable options
after evaluating all the sales. This will help them to promote the product or services in an
effective manner and helps them to generate more revenues in the market.
Ben and jerry is been providing and promoting the products at domestic level. In the
domestic level the organisation use the local challenges to promote their products in the specific
areas. Ben and jerry using various ways to promote the products ta domestic level which is been
described below:
Print media – This is the major channel which is been sued by ben and jerry to promote
the products at domestic level. This will also help them to enhance the overall sales in the
market and help them to achieve great results.
Advertisements - Ben and jerry also promotes their products and services with the help
of advertisement. They use various channels and create engaging ads to attract new
audience in domestic market.
Global Level
In the global level the organisation might face various stiff challenges. They need take
important steps in order to promote the product and service effectively in the market. There are
different cohesive ideas which needs to be addressed in a effective manner. In global level the
organisation needs to involve in the partnership with the established brand. This will help them
to attract various customers which are present in the market. They can generate more revenues in
the industry.
Ben and Jerry use various collaborative strategies to attract various customers in the
market. This will help them to enhance the overall sales and help them to achieve an effective
growth. The organisation can diversify their business operations in various regions. With the
help of global level strategies and approaches. The management of the brand needs to formulate
a plan and the outcomes which they will get while involving in the collaboration with other
brands. The brand can dominate the market at the global level by providing excellent quality
products according to the customer preferences. There are different new opportunities on which
they can capitalise in the market. At the global level Ben and jerry is collaborating with the new
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