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Brand Management : Assignment Solution

   

Added on  2020-12-29

19 Pages6090 Words83 Views
BRANDMANAGEMENT
Brand Management : Assignment Solution_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1Creating an article for a marketing brochure..........................................................................1TASK 2............................................................................................................................................51. Analysing brand portfolio strategy.....................................................................................52. An illustration of hierarchy management of brands in P&G..............................................73. Analysing strategies used for managing brand equity of P&G..........................................9TASK 3..........................................................................................................................................101. Strengths of brand that can be leveraged..........................................................................102. Weaknesses of the brand .................................................................................................113. Partnership and Collaborative agreements ......................................................................12TASK 4..........................................................................................................................................13Measuring and Managing Brand value.................................................................................13CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
Brand Management : Assignment Solution_2
INTRODUCTIONBrand is a product along with its distinctive design, logo, sign, symbols or words which isemployed by an organisation for building an image that determines the personality of theorganisation. Brand management is concerned with the activities undertaken by a company foreffectively developing, improving and maintaining a brand in the target market (Keller and et.al,2011). The present report will focus on Optimum Impressive Ltd, a advertising companydiscussing about its brand building and management. A segment of the report will discuss theproctor & Gamble's (P&G) an article for marketing brochure named as brand is power in whichit will highlight creation of brand over time. Further, the assignment is going to discuss brandportfolio strategy and hierarchy management of Proctor & Gamble, a multinational consumergoods corporation. Strengths and weakness of Gillette brand will be shown in this report alongwith measuring and managing the brand value of an organisation which will throw lights onbrand awareness, brand value, market share, consumer attitudes and willingness of purchasingthe products and services.TASK 1 Creating an article for a marketing brochureBrand is powerINTRODUCTIONBrand can be described as products, services or a perception which is highly differentiated fromother products and services or such similar perceptions available in the markets. It is basically aname, a product derives from its distinctive features from unique design, symbol, sign or logoand also consumer's perceptions associated with it. Brand equity in simpler terms, means valueof brand. Organisation could charge higher prices of their products by having a well establishedbrand name and higher premium capability of company is known as its brand equity (Aaker,2009).Proctor & Gamble Ltd follows various stages in building its brand. The company believesthat brand is the combination of visual appearances, trademarks, signs, logo and the consumerperceptions towards that brand. According to Keller's model, building of brand could beunderstood in the following ways that are discussed below:1
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Illustration 1: Keller's model of brand equitysource: (Keller’s Brand Equity Model, 2019)The stages of building a brand is as follows:-Identity: Identifying the target marketis the first stage in creation of brand. Determiningthe audience and communicating with them as per target audience's needs builds the concreteformation of a successful brand.Meaning : Defining the mission proctor & Gamble then defines the mission of the brand.Company creates the vision and mission and tell the target customers that why it is formed andwhat it desires to achieve. Detailed research of company's rival firms and analysingcompetition's strengths and weaknesses helps the company in creating a successful brand asdelivering something innovative from competition's already available offerings would help theorganisation to build highly differentiated products and services. Convincing the target customerthat why proctor & Gamble is better than its rivals is all part of successful creation of brand.Response: The next stage involved in the creation of brand is developing a valuepropositions of products or services proctor & Gamble is offering or is going to offer. Value2
Brand Management : Assignment Solution_4

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