Brand management is the marketing function that uses different techniques and strategies to increase the value of the product line. An effective brand management assists the companies to set a reasonable price for the products and increase loyal customers. The implementation of a strategic plan enables the companies to maintain a brand position in the market and achieve the vision of the company (Sanders, 2012). For example, the companies such as Intel and Microsoft have implemented different strategies to attract a large number of customers. The companies have introduced innovative and high-quality products in the market. Intel introduced Intel Core processor, and Microsoft introduced Microsoft Windows suite that enhanced their market share. Both the companies have built their brand reputation in the market.
The relationship between the buyers and suppliers is one of the most important aspects of the value chain management where the business organization provides great effort to create value for the money of the customers. Power dominance in supply chain management implies either suppliers or buyers power in a transaction. Before any transaction, both the parties, the buyers and suppliers, used to negotiate, and in this negotiation, the dominating party uses their power to make the transaction more profitable for them. However, the importance of the power concept is reducing over the time as within the increasingly competitive market, each organization has numerous options, and thus mutual understanding and trust are becoming a more important factor in buyer and supplier relationship and outcome of the relationship. The power influence in buyer and supplier relationship is reducing, and the mutual understanding and trust are becoming vital in this relationship and outcome.