Brand Management: A Comprehensive Analysis of Knorr and Unilever

Brand Management

Introduction

Brand management plays crucial part in assimilation of the variant types of techniques to adhere the better perception of a brand of an organisation. Therefore, this study will provide the information regarding the importance of the brand management along with magnification of tools for achieve the success. It will be followed by analysis of different types of strategies that helps in assimilation of collaboration with local and global context. In addition, the assignments will shares information regarding accession of techniques for adherence of estimation of value of brand of an organisation.

The food and beverage industry is worth globally at over $7.8 trillion. This industry stands on the basis of different types of large and small enterprises such as food cafes, restaurants, and others. A major sub-set which is present in the food Industry in the frozen and stored food section which itself is valued at over $291.8 billion. In the case of Knorr, it can be illustrated this business is present in the frozen and preserved food and beverage industry. The total margin of income within the organisation is above is above 3 million, which is expected to rise even more in the future.

Knorr is British-Dutch company, which falls under food and beverage industry. In respect to the ownership, the company is owned by Unilever plc and follows private ownership pattern (knorr.com, 2020). Speaking of the residence, the company falls under German based food cuisine whose headquarter is at Heilbronn, Germany. Speaking about the generation of revenue, as the organisation falls under Unilever; therefore, the annual turnover is more than 1 billion US dollars. Personal care, food products and home care ranges are available in this organization. Other brands of Unilever can be stated as Axe, Dove, Rexona, Sunsilk and Lux. Unilever is expanded over 100 countries. There are more than 310 factories in case of 70 countries. More than 400 warehouses can be experienced in the organization. The organization has been incorporated in 1894. Alan Jope is the CEO of the organization. London is the headquarter of Unilever PLC. Georg Schicht, Samuel van den Bergh, Antonius Johannes Jurgens and Lever Brothers are the founders of the organization (unilever.co.uk, 2020).

Explain the importance of branding as a marketing tool and why and how it has emerged in business practice

Brand management plays a crucial part in creation of different as well as lucrative image of the company from the fellow competitor in the present market scenario. In addition, the prime importance revolves around generation of control and authority that promotes the success along assimilation of opportunities in an organisation. Therefore, in respect to Knorr, the major importance of brand management aids in the proliferation of the company, in the present market for increment of visibility. Thus, it helps in acceleration of customer integration along with creation of awareness about the company. In addition, it respect to the marketing tool, brand management plays a crucial part in creation of brand equity (Andersson et al., 2019). For example, in respect to the digitization, the prior mentioned organisation Knorr uses online social media platform like FACEBOOK to promote the company on global platform (adbrands.net, 2016). Thus, it serves as a prime reason as major marketing tool in the world of business industry and Knorr is not an exception from this scenario.

Speaking about the importance of the brand management for an organisation, it serves as a prime reason that supports usage of the financial satire in effective manner. Furthermore, as it is a common plight that, customers serves as one of the prime reason for enhancement of the company growth and prosperity. Therefore branding, a marketing tool helps in fulfilment of the target and goal of an organisation, unlike Knorr. In respect, to mitigating the target and need of customers, brand management serves as a major tool in marketing that helps in addressing the desire of target customers. Thus, it helps in captivation of the customers and increase customer loyalty. However, according to the sources report, as the prior mentioned organisation Knorr, is presently focusing on the branding of products that caters interest of customers (thedrum.com, 2016). Therefore, it the brand management as a marketing tool helps in creation of informational message that aids in expansion of business on demographic and geographic basis.

In respect to the business practice, brand management helps in addressing the target of an organisation and Knorr is not an exception in this scenario. For example, in respect to integration of customers, brand management helps in creation of visibility among the global arena. Therefore, it serves as a business practice that promotes the growth of Knorr. In addition, in the area of induction of the awareness, brand management aids in deliberation of information about products. Thus, it narrates ingenious practice in business industry for accumulation of integration of customers along with generation of revenue.

Importance of branding as a tool

Branding helps in creation of better image of the company in execution of memorable and long-lasting impression. Therefore, in respect to Knorr, it provides the opportunities to enhance the creation of expectation from the brand to the customers. Moreover, it provides the credibility to the company in the present market. Thus, it helps in inclusion of customer loyalty for towards company and Knorr is not an exception to this scenario. Thus, it imparts the necessary assistance in respect to integration of customer and financial accession in the company.

Multiple different types of branding models are present that can facilitate in understanding branding equality and helping in building a brand. Some of these might includes The Value-Based Brand Theory, The Branding Theory, and Theory of Brand Loyalty. These approaches help in understanding the key concepts of brand strategy at a further capacity. Theory of Brand Loyalty highlights the way in which psychology of consumers is used effectively in order to modify products and services appropriately and better utility delivery. This is an important tool for branding as it helps in being able to customise products at a better capacity. Another tool is value based brands, which is a strategic customer value approach through which it collaboration in making good design, establishing social networks and market expansion prospects are highlighted (Elliott et al., 2015). This can help Knorr to expand social media reach effectivel.

Analyse the key components of a successful brand strategy for building and managing brand equity

Brand equity is defined as the adherence to a value of specific brand for a particular product. The major reason of brand equity, acts as a catalyzing agent for creation of perception in the psychological dimension of customers (Foroudi et al., 2018). Therefore, it specific section shares the information regarding the elements of success of brand of Knorr.

Brand loyalty

In context to the loyalty, it helps in integration of customers in an organisation along eradication of fear of substitution from the mind of an organisation. Therefore, in respect to the prior mentioned organisation Knorr, it defines as the preferential selection of the product over the other existing goods and company in the market. Thus, it respect to increment of brand loyalty, the esteemed organisation can apply the strategy like inclusion of healthy, taste and unique food product for customers. Thus, it will helps in creation of strong customer base along with increment of loyalty in the target consumer for Knorr.

Brand Association

Association defines as the formulation of relationship with the target customers as per the need and preference. Therefore, in respect to brand association, it helps in creation of link and formulation of the value and equity for the particular company. Thus, in respect to Knorr, according to the sources report, the recent merger of Knorr-Bremse aids in increment of the commercial value for the company (knorr-bremse.com, 2018). Thus, it the prior mentioned business strategy helps in creation of niche market for Knorr along with increment in the recognition. Moreover, this key element provides the necessary assistance to understand the psychology of the stakeholder and generate business plan accordingly.

Brand awareness and differentiation

Brand awareness helps in creation of information along with the knowledge about the particular brand and product. Furthermore, the presence of the variation in representation of the products for the consumers helps in generation of awareness about the company and product. Thus, in respect to Knorr, according to the sources report, the company aids in creation of marketing campaign with involvement of customers. Therefore, this helps in creation of information about the specific organisation. In respect to the strategy in the business, the utilisation of the prior mentioned planning helps to enhance awareness about the company and product. Moreover, the above-mentioned key component helps in increment of the brand awareness of the food company by accession of social media as a strategy (fooddive.com, 2017).

From all of the three aspects which have been elaborated earlier that includes Value-Based Brand Theory, The Branding Theory, and Theory of Brand Loyalty. The Branding Theory is the framework which has not been explored adequately. This approach focuses upon being able to create sustainable approaches through which it is easier for corporate social responsibilities will be elaborated (Stobart, 2016). Some of the strategies, which can be used is environmental strategies such as recycling resources, managing toxic gases and other activities as well. Knorr can the change also to recruit people in need of employment.

Evaluate how brands are managed successfully over time using application of appropriate theories, models and concepts.

Value Based Brand theory

As stated by Rauschnabel et al.,(2016), value-based brand theory defines about incorporation of strategies that helps in increment of value of products in the eyes of customers. Therefore, the application of this theory helps in creation of importance by introduction of the image of the brand in the psychology of target customers about the features. However, in respect to Knorr, this provides the necessary assistance for establishment of the customers’ relationship and loyalty with the esteemed organisation. Furthermore, the utilisation of different strategies helps in increment of the marketability of the product that promotes success. The marketing team aids in introduction of the products that helps in mitigating the needs and desire of customers, which generate the value of branding.

Aakar brand equity model

Aaker brand equity model defines as the amalgamation of brand awareness along with creation of association with the stakeholder (Çifci et al., 2016). Furthermore, this model shares the information regarding the creation of the loyalty among the customer for a specific brand. Thus, in respect to Knorr, the application of this strategy helps in execution of managing the success of the company image as per the demand of the situation. Furthermore, it promotes and initiates different types of strategy to maintain popularity of the company in the present. Thus, in reference to the application of the this model, it provides the necessary assistance to create differentiation and opportunities for Knorr.

In respect to the application, as this model is an amalgamation of brand awareness, association along with loyalty, thus it provides better creation of image for the customers. Thus, in context to awareness, better branding of Knorr helps in inclusion of awareness about the inclusion of productivity, pricing strategy and many more business activity. Moreover, in provides exquisite solution for the company for creation of better branding of the product.

Keller’s Brand equity model

In accordance with Keller’s equity model, brand identity must be obtained at the first stage. Unilever will be required to communicate the brand meaning among customers. Brand response from the customers can be adopted along with the brand resonance (Yousaf et al., 2017). Loyalty among customers can be created through the help of this model. Brand equity management can help to obtain competitive advantage by Unilever in the economy. Long-term growth of the brand can be fostered through the help of brand equity management. On the other hand, negative attributes among customers can result in the deterioration in the sales of Unilever.

Keller Brand Resonance Pyramid

In respect to the pyramid structure, it is divided into four grid. In the first grid, it enunciates about the salience feature, about the identity of the brand. In respect to the second grid, it provides the opportunity for the in Knorr to execute the image of the company along with the marketability. The third section is a mixture of judgement and feeling. It is the customer feedback and increment in the sales ratio that provides the information about the brand popularity. Resonance is the last grid, which narrates about the establishment of relationship with the customer and brand and Knorr is not an exception to this rule.

Kapferer brand identity prism

This specific model defines as the creation of the image of the brand that enuncuiates the core value of the brand for better understanding of the customers. Therefore, in respect to KNorr, it executes the creation of the image of the company by execution oif the following characteristics that promotes better brand image of the Knorr. It constitute of six element. In physique it promotes the message about the representation of the brand. Personality defines as the creation of brand character of Knorr for better captivation of customers. Culture defines as the working culture of the company. Relationship enunciates about the formulation of better establishment of relationship with the customers. The last factors like customers reflection and self image provides the knowledge about the execution of understanding about the buyer persona along with the psychology (Berrozpe et al., 2017 ).

Apply appropriate and validated examples within an organisational context.

In reference to the prior-mentioned organisation, Knorr holds the popularity on a global platform due to the deliberation of the foods and unique quality. Therefore, according to the sources report, this esteemed organisation has initiated marketing campaign to increase the brand popularity and equity of the company. In addition, the accumulation of the traditional way of marketing provides creation of the value for the company in the eyes of the customers. On the contrary, it is a common plight that, the indulgence of rival organisation aids in introduction of the competition in the market. In respect to Knorr, the major competition faced by this esteemed organisation is from Oxo Uk, Premier Foods and many more. Therefore, the adaptation of the different strategy in respect to the organisational context aids in creation of niche market for Knorr. For example, the utilisation of the social media platform, like FACEBOOK, INSTAGRAM helps in creation of the brand awareness among the customers. Therefore, it helps in increment of the visibility of the company and encourages the customers in terms of buying nature. In addition, the introduction of the innovative products helps in accumulation of the brand value along with integration of loyalty for the brand Knorr.

Analyse different strategies of portfolio management, brand hierarchy and brand equity management.

Portfolio Management

Portfolio management can be defined as a process of managing the investments of the investors in the organisation to ensure the maximization of earnings. Knorr of Unilever is a strong brand that has been established in UK dealing in food manufacturing operations. In this context, Unilever will be required to maximise its investment for the further returns for investors. Objectives of portfolio management of Unilever can be regarded as to appreciate capital. Maximization in the returns on the investment will be possible through the help of an effective brands management process (Platanakis and Urquhart, 2019). In addition to that, overall proficiency of the brand can be improved in this context. Optimization of risks in the development of the brand can be identified and reduced through the policies of Portfolio management. Unilever can ensure flexibility through the help of the effective portfolio management. Active portfolio management refers to the process of managers in case of development of the brands in international market in a method to attain the maximum returns on the investments.

Passive portfolio management suggests that the managers in the organisation will mostly invest in index funds. Advantage of investment in this portfolio management will be less but steady amount of returns. Less risk can be reflected in case of passive portfolio management in Unilever. Alternatively, managers in Unilever can choose the discretionary portfolio management accordant with the risk-bearing capabilities of the investors (Jiang and Liang, 2017). Finally, managers in Unilever can opt for non-discretionary portfolio management for its investors. It will suggest the best policies for the investors however; the final decision will lie on the investors. In this scenario, Unilever can choose passive portfolio management hence steady growth of the brand Knorr can be maintained. Number of investors can be retained in the organisation as well.

Brand hierarchy

Brand hierarchy suggests the distinguishing of products of a brand in a systematic and hierarchical manner. Products of Unilever can be segregated into different parts such as food, homecare, personal care and water purifiers. Benefits of brand hierarchy can be stated as the reduction in the competition with other organisations (Charumbira, 2016). Besides that, customer confusion regarding the utilisation of products and brands can be identified with the help of efficient brand hierarchy. Alternatively, clarity in operations of Unilever can be adopted through the help of this method. Levels of brand hierarchy can be stated as:

Corporate brand: It is the highest level of brand hierarchy that depicts the actual owner of a brand. Knorr has different elements of food products. However, the corporate brand in case of Knorr is Unilever.

Family brand: Family brand is regarded as umbrella brand in the companies (Panda, 2017). It has a range of products to offer in the economy. Homecare, personal care and food products of Unilever can be stated as umbrella brands. Bru Coffee, Lipton Tea and Knorr are brands of food products of Unilever. In addition to that, Surf Excel, Comfort and Ariel are products that are available under homecare range of Unilever.

Individual brand: A single product is available in case of individual brand of an organisation. In this scenario, water purifier of Unilever is individual brand as it has only one product.

Product modifiers: Product modifiers and descriptors are the important and lowest level of brand hierarchy. It can guide the customers and encourage them to purchase products by providing them relevant information about brands.

In case of Unilever, it can be stated as the corporate brand. However, Knorr has been regarded as a family brand. Products of Knorr are stockpots, stock cubes, organic stockpots and concentrated liquid stock (knorr.com, 2020). Additionally, the brand has come upon with granules, readymade soups and seasoning. Thereafter, the organisation is regarded as an umbrella brand with different types of other products within it.

Based on the above pictorial representation, it can be concluded to the fact that, the execution of the presence of huge products satisfies the customers. Furthermore, in context to Unilever, it promotes the enhancement of the strong brand image of the company in the niche market. Furthermore, the presence of multiple array of product results in creation of huge opportunity for the company to captivate customer in wider range. Therefore, the esteemed company access huge product in family genre, individual genre and many more for better marketability of the company.

Brand equity management

Brand equity refers to the value generated by a company from a product compared to the other generic equivalent. Dimensions of brand equity management can be stated as brand loyalty, awareness and association. Reduced marketing cost and trade leverage can be reflected with respect to brand loyalty of customers in Unilever. Brand awareness can create reputation of the organisation in the economy hence it can enhance the liking of the people of the brand (Ianenko et al., 2020). Alternatively, brand association of Unilever will help to communicate information to the customers. Creation of positive attitude among customers can be possible with the help of brand association.

Unilever can adopt quality of products over the price as a brand equity strategy. Thereafter, it will benefit Unilever in case of attracting more number of customers in the organisation (Quan et al., 2020). Low price along with the quality can be significant for Unilever to attract customers. Loyalty of the brand must be maintained in case of management of brand equity of Unilever. Finally, the brand is required to remain consistent in the service that is provided by the organisation.

Critically analyse portfolio management, brand hierarchies and brand equity using appropriate theories, models and frameworks.

Random Walk Theory

Portfolio management of a brand can be analysed with the help of this theory. In accordance with Dow Theory, return on investment in an organisation can be predicted with the help of the past behaviour and demand for products among consumers. On the other hand, Random Walk Theory suggests that the future return on investment of the investors cannot be predicted beforehand (Yang et al., 2018). Modifications in the return on investment can be experienced due to the changes in the industry or Unilever. Thereafter, portfolio management in Unilever can facilitate smart decisions and risk management along with better productivity. On the other hand, past return on investment will not be calculated in case of future returns. Besides that, size of the organisation differs the returns on investment of investors in Unilever.

Hierarchy of effects model

In accordance with the hierarchy of effects model, three elements of consumer behaviour can be reflected in the economy. Cognitive behaviour suggest thinking of consumers of Unilever. Feeling and behaviour can be reflected as affective and conative behaviour of consumers. Unilever can target three of these behaviours of consumers to affect the decision-making for purchase of the products in Unilever. Thereafter, the brand will be required to create awareness, knowledge, liking, preferences and conviction regarding Unilever to attract customers. That is how the decision-making for the purchase of products can be affected (Mokhtar, 2016). Brand hierarchy can help in the smooth operation in the organisation along with the maintenance of balance between the main brand and sub-brands. On the other hand, the theory depicts that the failure of brand hierarchy can result in the declining the value of the brand. Unilever will experience deterioration in sales of the entity as well.

Evaluate how brands are managed collaboratively and in partnership both at a domestic and global level.

Unilever has the purpose to make sustainable products for its consumers in domestic and global market. Brands in Unilever are being managed to improve the health of the people. Confidence and well-being of the people in the economy can be managed through the emergence of Knorr in Unilever. The organisation has promised to improve the experience of the consumers by the help of these brands. Additionally, sustainable living purpose of the customers in Unilever can be identified. Brands of Unilever are being managed collaboratively to elevate the health of the planet. Domestic brand management will require steps to be followed by the organisation (Kucharska et al., 2018). Values and ethics of brand management must be identified and understood at the first stage of the brand development. Mission and vision of sustainable development of Knorr must be elaborated to the customers to attract them for further purchase. Brand positioning in the domestic market will be important in case of Unilever. The organisation will be required to adopt the strategy of low price and high quality products. Positioning of the brand in domestic economy can help Unilever to attain competitive advantage. Improvement in sales of products of Unilever will be possible in UK.

Furthermore, implementation of brand marketing programmes can be experienced in case of UK. Importance of brand value chain in the domestic market can be evaluated with the help of the brand marketing programmes in Knorr. Finally, brand equity growth must be measured in the organisation for domestic growth (Rebiazina et al., 2020). Brand portfolio, marketing mix and brand equity of Unilever will be elaborated in accordance with the brand management in UK market. In respect to thew domestic marjet, it formulates the execution of better mitigating the needs and demands of the customesr in the local area. Furthermore, the branding of the company helps in addressing the image of the company in better manner.

Global brand management of Unilever will be possible with the help of responsive, future proof and growth-oriented policies. Flexible and adaptive strategies must be adopted by brands for global management. Preferences of the customers can be changed and that can affect the branding and sales of Unilever. In this scenario, the organisation must be adaptive hence; Knorr can adopt new changes. On the other hand, flexibility approach of the organisation can be significant in the decision-making of Knorr in the global market. Unilever must introduce technology in its global brand management policies, as it will be significant in the brand awareness. Reach of the organisation can be improved in the global market (Pamfilie and Croitoru, 2018). Knorr can engage custodians in the organisation for the maintenance of rules and regulations in the organisation. Quality of products of Knorr can be maintained to ensure the brand loyalty of customers in the economy. On the other hand, Knorr of Unilever must be proactive towards the brand equity management in the economy. Thereafter, global brand management of Knorr will be possible through the help of improvement in the brand loyalty of the organisation. On the other hand speaking about the global market, the presence of the partnership helps in execution of global expansion of the business. Thus, it promotes greater visibility and increment in sales. Moreover, in respect to the active collaboration, the presence of the active collaboration with other organisation results in creation of increment in profitability along with execution of better image. Furthermore, it helps in creation of better captivation of customers, with the help of the existing customer from the existing organisation (unilever.com, 2020).

Critically evaluate the use of different techniques used to leverage and extend brands

Extension of brands in Unilever will be possible with respect to line, category, market and geographic extensions. Line extension suggests the addition of products with the existing line of goods in the market (Boisvert and Ashill, 2018). Unilever can be able to invest a low amount for line extensions. Besides that, brand loyalty and established reputation can help to increase the demand for new line of products. However, brand loyalty of Unilever can be weakened. Conflictions between customers and retailers will be an issue as well. On respect to the advantages, line extension provides better opportunities in creation of new range of product to the existing customers. Thus, it helps the company for easy accession in promotion. However, on the other hand, it can aids in creation of negative aspect as the needs and demands of customers are not permanent in nature.

Category extension suggests the addition of a new category of products in complementary of existing goods available in the market. Launch of new products in Unilever can be beneficial as these will be complementary elements to the existing goods. Besides that, the current objective of the brand must match the introduction of the new category of products. Loss of reliability of customers on the brand will be an issue in Unilever. Speaking about the advantages, it helps in creation of new niche market for the company. Thus, it helps introduction of new customer for the company. On the other hand, the negative aspect caters to increment in level of dependency on the parent brand. Furthermore, it aids in creation of negative aspect for failure of new product.

Market extension can be stated as a strategy to enter into a different market by the brand rather than the existing products (Rui et al., 2016). Unilever has entered the market of water purifiers. Lack of promotions of the new range of products can be a disadvantage in this type of extension. Furthermore, market extension helps in creation of better image of the brand along with saving of the costing in promotional activity. On the other hand, the chances exhumes in loosing of the reliability over the brand image and original company Unilever and product Knorr.

Geographic extension of Unilever can be referred to as the introduction of the products of the organisation in a different geography. Enhancement in the customer base will be the strength of this extension method. However, risks of a new market and differentiation in preferences of customers can be issues in this type of extension. It helps in captivation of new employees, creation of lucrative product idea along with extension in branding of the existing company. The lack of market research, customer variation can be a major challenge for the esteemed company Unilever.

Ansoff’s matrix

Four types of growth strategies can be reflected in accordance with Ansoff’s Growth matrix. Market penetration refers to the improvement in sales of the products in the current market. Product development suggests the introduction of new products in an existing market (Tsatsoula, 2018). Market development of an organisation is the entry in a new market with the current products. Finally, diversification will reflect the introduction of new products in the new market.

In this scenario, Knorr can adopt the market development policy. Thereafter, the current products can be introduced by the entity in a new market. Introduction of new products in the time of global pandemic can be an issue for the business. That is why the organisation must focus on the expansion of the entity with its current products. The existing products have already incurred brand image in the market. That is why entering a new economy will be easier for Knorr through market development strategy.

Evaluate different types of techniques for measuring and managing brand value using specific organisational examples.

Brand valuation of an organisation can be measured in different ways. Almost six strategies can be adopted for the measurement of the value of a brand in the market. These can be reflected as:

Brand Value can be illustrated as the amount of financial worth that a business processes. This amount is evaluated through an effective balance sheet that facilitates in being able to funnel and understand what the market value of a business is (Zarantonello et al., 2016). In order to measure brand value of an enterprise, it is essential that focus is given upon correct measures of business improvement through branding. This can be done through the followings strategies:

• Gauging customer knowledge and preferences: Knorr has the ability to do this through assessment customer management relations tools. This will enable the scope of understand of the popularity of Knorr products in the market.

• Distributed Reach: As per the distributed reach in multiple locations, it can be understand how far the business has been able to perform well. This will allow the scope of effective progress to be obtained effectively over time.

Assessment of attributes: Traits of consumers can be stated as measures for the brand value of an organisation. Loyalty, satisfaction and awareness among customers of Unilever can be assessed for the analysis of the brand value that has been generated by the organisation (Banu et al., 2018). All of these can be measured collaboratively or individually for the measurement of the brand value of the organisation.

Brand valuation: Unilever can adopt brand valuation method for the evaluation and measurement of the satisfaction among consumers. This technique can be utilised by the brand for managing the organisation and the customers as well. Meeting of the objectives of the entity can be analysed with the help of brand valuation. It can reflect the awareness and of Knorr among customers.

Algorithm: Forecasting the value generated by a brand in the economy will be possible with the help of algorithms. Financial data of Unilever can be analysed through the help of algorithms. Market dynamics along with that the assessment of the amount of generated income in the organisation can be evaluated for the production of the brand value among customers.

Brand equity: Three elements in brand equity can calculate the value of an organisation in the economy. First of all, total market share can be calculated along with the amount of market share acquired by the brands of Unilever. Besides that, relative price of the products in the organisation can be calculated as well (Niculescu et al., 2019). Relative price is the proportion of the cost of a product of Unilever compared to the price of goods of competitors in the market.

Royalty relief: Amount for the royalty relief can be calculated with the help of the brand valuation. It will help to generate the amount that Unilever will receive if it lends the license of Knorr to be used by third party. It can be a significant approach for the measuring of the brand value of Unilever in the economy.

Net Promoter score: Customers are required to provide scores to a brand in the market. It suggests if the customers of Unilever will recommend the products of the brand to their friends and relatives. “Promoters” will rate the organisation 9 or 10 whereas passives can provide only 7 or 8. Detractors will rate the organisation in between from 0 to 6.

Critically evaluate application of techniques for measuring and managing brand value in relation to developing a strong and enduring brand.

Assessment of attributes can be significant to understand the different aspects of the consumers and preferences will be understood. It will be beneficial in case of the assessment of the brand value and awareness of Unilever. However, there are different types of elements. Information of these elements for the valuation of Unilever will be difficult. Brand valuation can foster the amount of investment in Unilever and alignment of leadership can be possible. Prediction of the market shift can be acquired by brand valuation (Petelska, K., 2016). On the other hand, brand valuation can be time-consuming for Unilever, as the organisation will be required to evaluate the value of its Assets and goodwill. Furthermore, quality of the organisation can be evaluated with respect to the brand valuation of the entity. Algorithm can enable the calculation of the brand value of Unilever in financial method. However, attributes such as the performance of the employees and the improvement of opportunities of the organisation cannot be evaluated through this technique.

Brand equity can foster the introduction of new products of Unilever in the market. Different types and categories of products can be developed accordant with this technique. Alternatively, it is a complex process with difficult in its maintenance. Royalty relief can measure the value of the organisation financially. Presentation of this value in front of the investors will be easy. On the other hand, it is difficult to analyse the value for intangible resources in Unilever. Net Promoter score can be significant in the calculation of Knorr as it can help the brand to attain competitive advantage. Alternatively, it will require time for collection of answers from the consumers of Unilever. Identification of the consumers of the brand will be time-consuming as well.

Brand value defines as the financial worth price of the brand in the present market. Likewise, the inclusion of the integrity along with the customer feedback aids in creation of better brand value of the company in the present market. It leverages the increment in acquisition in focus on growth along with better performance by the company. Therefore, in respect to the brand value of Unilever addresses and advocate in three factors, which are integrity, responsibility and Respect. Therefore, as mentioned above, the company cater to the customer dwelling in all economic class. In addition speaking about the market cost approach, it aids in inclusion of compensation of the cost in respect to which is equivalent to the costing of the product along with the customer income. Therefore, in respect to Unilever, it provides the execution of better approach to the customer as it offer variety of product as per the required market price along with customers affordability.

Conclusion

This project defines about importance of the branding and it role in creation of awareness in the prevailing market. Therefore, this project shed light about the importance of the brand management in an organisation. Thus, it can be stated to the fact that brand management helps in increment of the brand value of the organisation in the present market. Furthermore, the assignment shares information regarding the key component along with accession of different types of theories as well as models. Therefore, it provides the knowledge about brnad awareness and brand loyalty. Thus, it provides the necessary assistance in formulation of information regarding the portfolio management in association with financial satire. Therefore, it can be stated to the fact that, it helps in selection of budgeting along with gaining popularity of the company in the prevailing market scenario. Furthermore, the project defines the techniques that help in understanding the present value of the brand and its current association with the market.

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