An effective management of brand is referred to be one of the most considerate approach of the organisations. It is an activity of administering the advertising policies of particular goods and services. It is with a foremost concern of developing good relationship with the targeted set of consumer (Nagurney and Yu, 2012). This involves some tangible elements of the product with relation to its price and packaging, etc. The present report is about a similar concept of brand management of 2 undertaken organisations named Nike and Adidas. It has covered total 4 parts started with the demonstration of some basic concepts of branding
P1 Importance of branding as a marketing tool and has emerged in business practise:
Brand- A brand is an identifying name, logo, mark, word sentence that company use to comprised their product from other. All these elements create a brand identity. And legal protection given to a brand name is called a trademark. A brand represents company and create value of its company, a company also represent by its own brand.
Branding is important marketing tool- A branding important aspect of the marketing process of any product. In now days products have many patterns made by companies and company present many brands in the market. Brands presents their market reputation. Popular brand already set their marketing. Branding give products identity and character so customers trying to connect with them (Heding.,et.al., 2015).
Brand equity- brand equity refers total value of the brand as separated asset. Brand equity is reflected in the way customers see and feel the brand. The effect of this intangible asset Like financial books. Prices, demands and profitability.
Brand differs from a product- consumer make product and company make brand. A product is made by company and purchased by customers. A product which is included all the material made by company and brand is label or symbol of this product. A product is which company designed and innovate in their own pattern or brand is legal sign of product. For example Nike is brand of company and shoes, clothes other are their products.
Key elements of a strong brand- brands is something very specific . Brands elements is target to audience, brand promise, brand perception, brand value , brand voice, brand positioning etc. brand elements comprised all the element which affect their brand reputation. Brand elements follow the all brand tools they affect their brand value and their popularity (Jugenheimer.,et.al., 2015).
Manage and develop a brand over time- branding is process which is developed and mange all the process in the marketing like all what type of products and what their popularity, hoe to mange with that etc. branding is techniques which is identifying their products and companies profit and loss.
The main challenges developing a brand- brand is not easy, it is not about giving name or attractive slogan or logo. It is most challenging task to manager face. Those challenges are known as three C's of branding . Every companies and their manger faces those challenges. First challenge is cash or dealing with financial concern, second is ,manager wants to interact with their client at any time . Third is cutter , company wants to promote their products a hundred time or more then.
M1 brands are
Managed successfully over time
As people living in the world they manage so many needs and they want to maintain a string sense of personal identity. The same holds for brands – especially those in the consumer packaged good category.
Marketing communication- marketing communication comprised the strategic activities for brand mangers to build and maintain the brand image of targeted customers. Marketing communication is mange customers relationship that affects brands value lastly (Vigneron and Johnson, 2017). Marketing communication is about promotion and such activities advertising about the brand sales promotions.
Branding is defines company is promotional rates and its area of company compress their legal marketing. In the evidence justified branding is most crucial prat of an organization which is defined their products with high rates and their products variety. Branding is also defines the rates of their of products which is unique and expensive. Any products which branded their rates are high and their material is good for use (Dinnie, 2015).