- One function of marketing is that uses techniques to increase the perceived value of a product line or brand over time. Effective brand management enables companies to set a high price and builds loyal customers through positive brand associations and images or a strong awareness of the brand.
Developing a strategic plan to maintain brand equity or gain brand value requires a comprehensive understanding of the brand, its target market and the company's overall vision.
Assume the role of a Brand Manager for a mobile phone devices(sets) selling company. You are given the task to develop and execute a branding programme to build awareness and create demand. The essay should contain the following:
Discuss why are brands important. What functions do they perform that make them so valuable to marketers globally? Discuss the different roles that brands play to both individual customers and business customers.
An introduction to the company chosen and its product. Identify its target market and target audience to develop a strategic plan.
A brand image is subjective mental picture of a brand shared by a group of consumers. Critically analyze this statement and apply it to the brand chosen
Critically analyze the " brand essence" or "core brand promise" for the chosen brand. Analyze the branding strategies adopted to promote the product.
Brand equity is essentially an expression of a brand's value or strength. Discuss how you would measure and evaluate brand equity for the chosen product.
Position your brand against any one major competitors( SWOT, points of parity and differences)
Finding and conclusion
At least 10 references (Harvard referencing system)
