Brand Management Of Apple Company

A brand is what can either attract people to you or make people avoid you; people would identify you by the brand you portray. One can communicate their brand through actions and words. “It is essential to understand that wherever we are, in whatever we do, we are all building our brand”.

Brand design plays a crucial role on the customers’ purchasing decision. The brand design is the tool to promote a product by any organisation that can either attract the customers or resist them to buy the product. The chosen topic is considered to evaluate the importance of branding for any product in UK and US. As opined by Kapferer (2012, p.76), Brand Design is important when trying to market a new product or service in the market, which is new or already exists.

According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental

Manras (Brand and its Importance, 2011) defines brand as a sign, symbol, name, term or design or a mixture of them, which is designed to recognize the goods and services of one seller or group of sellers and to differentiate them from the competitors. Do not stop at tangible aspects, a brand also implies emotional one, such as personality, value, attitude and a story behind the brand.

A brand is an organisation, product or service which has created an emotional connection with their consumers in order for them to favour their brand over their competitors. It is incredibly important for brands to keep up their image and one little thing could change the global perception of a business. It takes a lot to maintain a brand image that has been built up over a long period of time and even more to regain it if that reputation is lost. Brands are created through various different aspects such as their visuals, tone of voice, advertising, actions and reputation. The combination of these will leave their consumers with long lasting emotions and perceptions of a particular brand and will effect whether they support a business or not and whether they would favour or avoid it. When a brand looses their image it can cost a lot of money and time to rebrand to prevent complete failure of the product or service.

Brand strategy is of upmost importance when it comes to customer visualizing a company. Branding is critical to the company as well as the product. The company brand embodies what the company is about,including the product (Hatline, M.D. & Ferrel, O.C., 2014). Branding provides the company with leverage when it tries to enter new markets Whether that be new locations or new product offerings (Douglas, S. P., Craig, C. S., & Nijssen, E. J., 2001).

In the theory, it defines a brand as a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate the offering from those of other competitors. Simply put, branding is one of the most important aspects of any business, large or small, retail or B2B, which is the promise to customers and tells them what they can expect from the products and services. (Lake, 2015) (Williams, 2014) Consistent, strategic branding leads to a strong brand equity, which means the added value brought to your company's products or services that allows you to charge more for your brand.

According to the American Marketing Association (AMA), a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”. However, as Keller highlights, a brand is also “something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace”. Therefore, a brand is an identity created to differentiate itself from the competitors and to be remembered in consumer’s mind.

Since an increasing number of people focus on brand names instead of product, brands become important elements for customers to choose products (Carroll, 2008). When customers trust the brand, the benefits for the manufactures are generated. In the first place, brands can be used by products as the tool to identify and differentiate themselves from various products. Secondly, brands are helpful for companies to build a competitive advantage (Bick, 2009). Therefore, organisations take more attention to branding.

In today’s world each and very object is been marketed with a specific brand to a target markets or market segments. A brand is a name, term, design symbol or any other feature that identifies one sellers good or service as distinct from those of other sellers.

Branding and marketing is the most important part in the business. Marketing goods correctly can take time and a lot of work. If the goods are marketed the wrong way it will affect the brand tremendously. Marketing works hand to hand with brand, without one another the business wont exist. Branding gives a great meaning to the business and people remember your business name by branding. This is why, it is important to have and build a great brand name. You can have a great brand name and reputation, but it takes only one unhappy customer to ruin you and your brand name. Companies build brands using memorable names, symbols such as logos and other images and phrases. Catchy slogans, for instance, sometimes become strongly connected to your brand so that people easily recall the brand from hearing the slogan (Branding & Other Marketing Concepts).

In chapter 2, this paper will explain the “brand” in general with put the light forward on the related topics like- brand equity, brand image , brand loyalty , brand awareness, brand association etc, and allow the reader to understand the broad concept of the branding , its impact and importance in the industry. Then research product look in to the importance of growing a brand strategy for the products. Then researcher

Long before now has branding been considered as one of the peripheral aspects of business. Manufacturers, investors and other key players focused on the product without paying much attention to the consumer. But as the business landscape got tougher, marketing became not just an integral part of business but one of the fundamental principles of success.

This essay is written based on knowledge of brand management. Building a successful brand cannot without people’s attention; generating awareness, communicating brand values and building customer loyalty, and these demands need to take a long time to achieve. Thus, it is an extremely challenging marketing task(Fahy, J. and Jobber, D. 2012). In the other words, if a company want to be successful, it have to build a successful brand equity and created its brand identity, and expand its brand in the market.

Brand building involves all the activities that are necessary to nurture a brand into a healthy cash flow stream for the company after launch.