Concept Of Brand Management : Building A Successful Brand

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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. In the past few years, the grown of fast fashion is one of the biggest threat of luxury fashion brand. Fast fashion retailers express the least fashion trend from Fashion Week, then put these trendy elements into their products with a…show more content…
and Shaw, D. 2009). D&G as a sub brand of Dolce&Gabbana, it did gain young customers, but it was closed in 2011, because D&G caused unbalance between its parent brand and itself. D&G was more popular than Dolce&Gabbana, and it also earned more profit than its parent brand. The leading position of Dolce&Gabbana was confused by diffusion brand. Thus, to position the diffusion line in the correct place is not easy. Conversely, Prada is much better to deal with its diffusion line Miu Miu. The more specific discussion with relevant literature of how luxury brand manage its brand extension by launch diffusion line, as well as building brand equity and brand identity will be demonstrated in the following context. Moreover, these knowledge will be analysized with the choose brand Prada and its diffusion line MiuMiu. 2.0 Literature Review According to Fernie, Lawire and Hallsworth(1997), a diffusion brand is defined as a step- down line extension of an existing luxury brand. The launching of diffusion line always capitalize on the equity of the established parent brand. Chen and Liu( 2004) believe that the brand equity of parent brand can help the extension diffusion line enter the new market quickly, and a brand extension can also produce possible reciprocal effects that enhance the equity of the parent brand. Every luxury brand is building its brand equity and brand identity for a long time, when the name of this brand is familiar by people which
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