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(Solution) Brand Management - Assignment

Added on - 08 Dec 2020

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Brand Management
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31. Introduction........................................................................................................................32. Main Body..........................................................................................................................53. Conclusion..........................................................................................................................7TASK 2............................................................................................................................................81. Costa Coffee's brand portfolio strategy..............................................................................82. Illustrations of Hierarchy management of brands within Costa Coffee's portfolio...........83. Strategies used for managing the equity of the brand within Costa Coffee's portfolio....10TASK 3..........................................................................................................................................111 Strength of Brand that can be leveraged............................................................................112. Strengths of Costa Coffee so that it can achieve leverage................................................113. Weaknesses of Costa Coffee that need to be taken care of while developing its brand image..............................................................................................................................................124. Collaborative as well as partnership agreements..............................................................12TASK 4..........................................................................................................................................131. Brand value.......................................................................................................................132. Brand Awareness..............................................................................................................143. Market share.....................................................................................................................144. Consumer attitudes...........................................................................................................155. Purchasing intent.............................................................................................................15CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONBrand is simply a unique design, symbol, word, design or combination of all thesethrough which a company can create their brand differentiation in market place. Brandmanagement is an effective combination of marketing techniques related to a particular productor brand. It is a functional process which includes steps like, identifying and establishing brandpositioning, planning and implementing brand marketing programs, measuring and interpretingbrand performance and sustaining brand equity (Heding 2015). Effective branding done by acompany can increase their consumer loyalty. In this report, company which is chosen in taskfirst is an advertising company named Optimum Impression Ltd. In this project discussions havebeen made on importance of branding as a marketing tool, key components of successful brandstrategy, different strategies of portfolio management, brand hierarchy and brand equitymanagement. In this report, different types of techniques in order to manage brand value anddifferent techniques that are required to leverage and extend brands are also highlighted.TASK 1Article: Brand is PowerTo: Board of Directors of ' Optimum Impression Ltd 'From: Marketing ManagerDate: December 23rd, 20181. IntroductionAn advertising Organisation ' Optimum Impression Ltd. Is private company which operatestheir business in United Kingdom. Company offers wide range of services . This organisationaim towards to deliver first class service to their consumers in order to ensure that their work iscompleted on effective time frame with high standards. Marketing manager of this company hasprepared an article that will benefit Optimum Impression Ltd. To develop new their newmarketing Brochure.Brand:Brand is a unique design, name, sign, symbol, words or combination above all touniquely identify to create differentiate between one product of a seller to other. On the otherhand, branding is a process which is use to create a unique image or name of a product incostumer's mind. Therefore, a brand is mainly a total of company value as an evidence by themanner a company deliver their values at each and every point of contact. It is one of the basic3
responsibility of Optimum Impression Ltd marketing manager to create proper design orsymbol in order to benefit consumer to develop product differentiation of company product .Importance of brand:A brand enables a business to create self recognisance in order tobuild reputation for company. Mentioned below there are some basic importance of brand:Brand helps companies to increase their business values that aid organisation to acquirenew range of consumers (Elliott 2015).This will help business to identify their business and enhance their sales by creatingbrand differentiation in marketing.Brand Equity:It is an added value to product and services. A brand equity is mainlyaffected by name awareness, brand loyalty, brand association and proprietary brand assets.There are generally two elements which plays an effective role in brand equity that areperception and thinking of consumers. It is necessary for Optimum Impression Ltd to createremarkable and positive image of their products and services in consumer's mind. This willbenefit company to enhance their cash flow and overall attitudes of business.There are some effective steps mentioned below through which company can create theirsuccessful brand image:Step 1: Find out Target consumers: It is first and foremost role of a marketing manager tofind effective consumers. In addition to this they need to ensure that they are appropriatelyachieving mission of Optimum Impression Ltd .Step 2: Define Brand Mission: According to this factor, Optimum Impression Ltd cancreate values of their company which will benefit them to increase their consumer base. Withhelp of this organisation can able to make proper decision according to need of companymission.Step 3: Research Competition: As per this factor, it is essential for marketing manager toevaluate overall competition prevailing in a marketplace and examine products which they areproducing for their targeted consumers. This will benefit them to deliver a successful brandimage of their own easily. With help of this process Optimum Impression Ltd can effectivelymake required changes in their products and services in order to improve its quality.Step 4: Create Value Propositions: In this factor Optimum Impression Ltd can evaluateexternal and internal environment factors in order to create systematic strategies.Step 5: Determine Brand Guidelines: In this Optimum Impression Ltd need to create4
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