Brand Equity and Advertising

Question: Discuss about the Brand Equity and Advertising. Answer: Introduction The study consists of analysing a topic that will assist the viewer of the study to grow interest in the field of professional development related to the topic. Apart from that, different scholars and business leaders are described in the topic in details that will encompass various ideas provided. It will help in growing an interest related to the business topic. The topic selected for the study is the power of branding. It is a popular topic has huge significance in the business world. Apart from that, one can develop career in this field of work. Lot of scopes are present in the world of branding. Ideas of the contemporary topics Branding or a branding is defined as the sets of associations, which are created, by a single person or a group of persons for a company, individual, product or service. These sorts of associations are promoted within the minds of the target markets with the help of different activities of marketing and through corporate identity. For instance, a poor press review is responsible for degrading the brand image of the product. It will harm the brand image of the whole company while creating negative associations in the minds of the consumers in the target market (Buil et al., 2013). Power of branding is responsible for creation of positive impact regarding the brand of the product or individual in the minds of the target customers. Whenever a new product is launched in the market, marketers are busy in promoting the brand and its message in the target customers. The unconscious feeling regarding the brand is known as the fantasy of the brand. Fantasy of a brand is the responsible for the power of branding activities that is being proposed by the marketers associated with the brands. Branding is considered as everything. Business is solely dependent on customers. On the other hand, branding is solely focused to the customers of the target market and community as a whole. Proper branding of a particular product will mould and shape the minds of the customers in the target markets. Through the power of branding, interaction of the brands with the customers is done (Stahl et al., 2012). The conscious signs of branding include the features, prices, attributes, advert ising and marketing techniques of the products, services, individuals. On the other hand, the unconscious side of power of branding include the underlying feeling that is connected to the brand. Both the conscious side and unconscious side of branding help in making the consumer decision making process of purchasing that product (Horng et al., 2012). Exploring personal interests Power of branding is a huge topic that requires a proper understanding level in terms of the brand the person is working with. Branding includes many sub categories such as brand personality, brand equity, brand value, brand management, etc. It requires a high level of communication skills because a single person cannot do the job of branding solely. Many responsibilities are attached with it that requires cooperation of other employees of various departments. A professional of branding must understand the importance of communication in branding (Bruhn et al., 2012). Communication of message between the brand and the target customers are essential. The professional associated with branding should maintain a relationship between designing and branding. For instance, it can be said that, if a company lose its all assets related to production, it can survive in long run. However, if the consumers of the company forget everything about the brand, then that company will certainly not surv ive in the market. Branding is an area where it requires creativity. I am fond of things that require creativity. Brand management is a professional area where people can achieve a good position in their career life by their creativity. Creative strategies are to be formulated in order to improve the performance of the brand in the target market. It is seen that brand managers are responsible for designing elegant business plans regarding branding (Vomberg et al., 2015). If a brand manger does not have a proper knowledge about the power of the brand and the brand he is, working with then he will not be able to exploit the available market opportunities for branding and delivering the market share, sales volume, and projections of profit related to the chosen business vertical. Apart from that, knowledge regarding power of branding is required while executing the formulated strategies by taking the help of a cross-functional team (Zhang et al., 2014). A cross-functional team in the field of branding wil l work if the professional associated with branding communicate properly with the team by proper conveying the message. It is the aspect, which attracts me in the profession of branding. Apart from that, I have a keen interest in gathering knowledge of different types of branding activities that marketers are implementing not only for making the brand successful but also for making a successful growth of career. Demonstration of communication skills Communication skills are the important attributes that are required in almost all phases of life. Without communication, a person cannot express his views or solve the queries of the life. However, in this study essential skills of communication regarding the profession of brand management. Branding is an area that has been my favourite area of interests. Brand management is a difficult task that requires knowledge on various aspects. A person who is responsible for maintaining the image of the brand has to keep in contact with every department of the organization (Erdem Swait, 2016). Feedback from the various departments is necessary, as it is essential to decide the activities that will help in maintaining brand equity in the target market. Communication skills are required to maintain a good range of communication among the employees of the organization related to the department of marketing, customer relationship management. Apart from that, feedbacks of the customers both from online stores and from offline stores are required so that they can be implemented in the strategies of brand management (Buil et al., 2013). Communication is considered as the key aspect that involves collaboration. Both in terms of business life and in terms of social life, communication is essential. Communication skills regarding branding can be developed by following some simple activities. It will help the professional in achieving perfect results in understanding the power of branding. Finally, it will lead to improved branding activities of the company (Aaker Biel, 2013). The steps of improving communication skills in the workplace are taking responsibilities, staying calm in aggressive situations, keeping focus to the goals, encouraging listening, compromising things, avoiding arguments, conveying message to the required employees. If a professional follow the above mentioned steps, then an improvement of the level of communication between the internal and external stakeholders will be identified (Keller, 2016). Finally, it will result in developing a sound career in the field of branding or brand management with a multinational or a global brand. Conclusion Branding is an aspect that has importance both in terms of marketers and in terms of employees. It is seen that there are many leaders who are associated with the profession of branding of different types of world famous brands. Apart from that, it can be said that, there are many kinds of ideas that are found regarding the topic. An aspect of career development is described in details with a proper development of communication skills required to grab an opportunity while being recruited in the field of marketing and branding. For this, a vivid knowledge is required regarding different attributes of branding. References Aaker, D. A., Biel, A. (2013).Brand equity advertising: advertising's role in building strong brands. Psychology Press. Bruhn, M., Schoenmueller, V., Schfer, D. B. (2012). Are social media replacing traditional media in terms of brand equity creation?.Management Research Review,35(9), 770-790. Buil, I., De Chernatony, L. and Martnez, E. (2013). 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