F/508/0600 - Apple And Samsung Brand Management

SECTION 1   

P1. Significance of branding as a marketing instrument

Brand- A brand is a name, design and signal or any other feature that is different from other goods of company. It is a kind of good produced by a company under a name. A brand is the name given to goods and services such that it takes on an identification by itself which stands for clustering and attracts attention of customers. In this assessment there are two most important brands in Apple and Samsung. Brand is develop by the better productivity of business in the market and hike in the consumers in the market place. A powerful image of brands plays significance role for the business. As per the present market conditions, each and every product in a market has a lot of substitutes introduced by other companies. These company make over highly competition in the business and create a strategies for enhancing the market share. Several selling organization account brand as a name, sign or design and the collection of those factors highly-developed for identification of the trade good or services of a group and seller also distinguish them from company’s trade goods and services (Chernev, 2018).

Brand Equity- Brand equity means the commercialized worth from the consumer perceptual experience of the brand name of a specific commodity and services, instead of the products and services from itself. It is value generated from products and services with identifiable name. Brand hierarchy plays a significance role in branding as it is presentation of graphs of the strategies of branding of the organizat