Brand Management - Assignment

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
A) Importance of Branding as Tool and Emergence of Branding in Business Practise.........1
B) How do organisations develop and grow brand equity.....................................................2
Key Components of Successful Brand Strategy for Building and Managing Brand Equity..2
TASK 2............................................................................................................................................4
Different Strategies of Portfolio Management, Brand Hierarchy and Brand Equity
Management...........................................................................................................................4
A) House of Brands:...............................................................................................................4
B) Branded house...................................................................................................................5
TASK 3............................................................................................................................................6
Evaluation of Management of Brands Collaboratively in Partnership at Domestic as well as
Global Level...........................................................................................................................6
A) Meaning of Brand Leverage..............................................................................................6
B) Strengths and weakness of the M&S brand.......................................................................7
C) Some options for collaboration and partnership................................................................7
TASK 4............................................................................................................................................8
Techniques to Managing and Measuring Brand Value:.........................................................8
1) Brand Awareness:..............................................................................................................8
2) Market Share:.....................................................................................................................8
3) Consumer Attitude:............................................................................................................8
4) Purchase Intent:..................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Brand Management can be defined as the function of marketing that makes use of various
techniques in order to enhance the value of product or brand. The following assignment will
make its focus on the significance of branding, development and growth of brand equity and
suggestions will be provided to M&S can be extended, reinforce and revitalised. In addition to
this, the discussion will also be made about the brand portfolio and hierarchy management.
Further the discussion will be made about the brand leverage, strengths and weaknesses of M&S
Brand and will provide the options for collaborating and partnership for the growth of brand
locally and internationally. Moreover, the evaluation of various techniques used for measuring
and managing the brand by making use of different organisations will be provided. The company
chosen for the completion of this assignment is M&S. The company was founded in the year
1884 and is headquartered in London, United Kingdom. The company provides their customers
with high quality clothing, home products and food products.
TASK 1
A) Importance of Branding as Tool and Emergence of Branding in Business Practise
For the businesses, Branding plays crucial role in the success and failure of an
organisation. It is because branding provides various advantages and help to an organisation in
the growth and development (Abrahams, 2016). This will ensure long term survival and good
image in the market and in the mind-set of consumers. So the reasons due to which Marks &
Spencer should consider the importance of branding and make strategies to increasing their
brand image in the market are provided as under;
Branding gets Recognition: The firs importance of branding as tool for organisations is related
to the recognition that it provides to the brand of an organisation such as Marks & Spencer. Logo
of the company is the most important element that support in the differentiation of the product of
one company from that of others. So it can be said that branding will help an organisation in
increasing the brand awareness in the minds of customers.
Branding Increases Business Value: The second importance because of which branding
is used as tool is the increment in the business value. As the strong established brand could help
in increasing the business value as the company such as Marks & Spencer could make use of
leverage in the industry by making advantage from the opportunities to investment.
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Customer Creation: With the help of branding, it is easy for organisation to increase the
number of their customers. As earlier, the customers do not know about firm but with the help of
branding, customers will come to know about the organisation and may provide the company a
chance to prove itself (Annie Jin, 2012).
In this way, Branding also works for an organisation like the Marketing Tool that helps in
image building, customer creation and many more to companies such as Marks & Spencer.
Emergence of Marketing in Business Practise:
Earlier, there were no means with the help of which an organisation could make the
people aware about the products and services offered by it to their customers. So it was not
possible for the business to enhance the sales of their services and various products offered by
them. Additionally, the products of all the sellers also look alike so there needs to be
differentiation in them that could help customers in differentiating the product of one
organisation from that of others. So the emergence of branding as tool for marketing was related
to differentiation and increase in the sales of organisation (Asmussen and et. al., 2013).
Additionally, it came into practise because of increase in competition and making the products
different from that of other competitors. As branding provides the product with a differentiated
look from that of others. As the quality of products of different companies differ from one
another so branding helps in providing separate distinction from that of others. So, the reason
behind the existence of branding is related to the distinction and making the people aware about
the services and products of a company.
For the extension of the brand of Marks & Spencer, the company could make use of
arrange Public Relation Campaign, making use of poly flow packaging, educating the retailers
about keeping safe the products for a long period of time.
B) How do organisations develop and grow brand equity
Key Components of Successful Brand Strategy for Building and Managing Brand Equity
In order to analyse about building and managing brand over time, the use of Keller's
Customer Based Brand Equity Model will be done. The following model will be applied to the
context of Marks & Spencer (Balmer, 2012). This model is used in building the brand equity
with the help of Pyramid, and this has been facilitated with the help of understanding the needs
and demands, requirements and the implementation of the strategies accordingly. For the
creation of good brand equity, it is important that the organisation must connect with the
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customers so that they could be attracted towards the products and services of the organisation.
As the products and services of Marks & Spencer are not appreciated within a short span but it
took a lot of time in the creation of good brand image of the organisation in the minds of
customers. With the help of six key levels, the following model of brand equity will be described
as under:
Salience: Marks & Spencer enjoys a high brand salience on the whole because of the high brand
recall of the company related to its logo. Some of the strong associations of the Marks and
Spencer includes the food products and home products. So the good brand image of the company
helps in strengthening the brand image of the company (Braun, Kavaratzis and Zenker, 2013).
Performance: Apart from the minor issues for sometime related to the quality of products of
company, Marks & Spencer made changes in the their strategies and eradicated all the problems
related to the quality of the products of the company. These strategies also helped the company I
building good brand equity.
Imagery: It can be defined as the image or perception of the image of brand developed in the
mind-set of customers over a period of time. Not only the quality but also there are some other
aspects that helps in the strengthening the brand image of Marks & Spencer such as the design,
packaging of the products that creates difference from that of others. For example, at the
entrance of showrooms of Marks & Spencer, different varieties and designs of products could be
seen.
Judgement: Because of the good quality and prices of the products of Marks & Spencer, people
not only prefer the products for themselves only but for their family, relatives and to other
connected people also (Buil, De Chernatony and Martinez, 2013). This is the the benefit that as
the customers are not worried about the price or quality as they know it better because of the
already established good image and years of service of the company.
Feelings: The products of the company are not only limited to self use but they could also be
used to express feelings to other also such as friends, relatives, families, etc. As the products
could be provided to the them as a gift which they will like the most.
Resonance: The customers group of Marks & Spencer is very loyal for the company and not
only in one country, but from the existence of the business could be enough to prove the
popularity of the business.
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Suggestions of How the M&S Brand can be Extended, Reinforce and Revitalised
In order to extend the brand of Marks & Spencer can provide their customers with
discounts and this will help the organisation to make an increment in their sales of the products.
The company for reinforcing for their brand can makes use of differentiation in their products
such as in the quality, quantity and many more which will help in creating and attracting the
customers. For revitalising the brand of Marks & Spencer, it will be good to focus more on
advertisement and analysing the needs and demands of customers and provide them with those
products which could satisfy their needs and demands.
TASK 2
Different Strategies of Portfolio Management, Brand Hierarchy and Brand Equity Management
Portfolio Management
The following term can be defined as the adoption of the ways that helps in maintaining
and increasing the brand image of the company in the market. The main focus is on maintaining
the level of customers of the company as Marks & Spencer believes in maintaining the existing
customers as compared to making new customers so that the company could achieve
sustainability in the industry. Marks & Spencer have good brand image in the minds of
customers as the variety of products provided by the company and also in different economies of
the world. So on the basis of above description, certain brand portfolio are accepted by Marks &
Spencer which are listed as under:
A) House of Brands:
In the house of brands of Marks & Spencer, many items are included which are formal
wears, baby wears, perfumes and the company has made use of different strategies in order to
attract the customers (Dessart, Veloutsou and Morgan-Thomas, 2015). This differentiation is
because of different products and the company also makes use of differential pricing policy for
attracting the customers.
Endorsed Branding: This model says about the use of some already produced product in order
to establish good market for the new product. As Marks & Spencer was earlier associated with
dealing in clothing products but now has also introduced many new products such as the home
care products and food products. So the already established image will help the company in
getting good response from the customers.
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Mixed Brand Strategy: The following strategy could be defined as the mix of the all strategies
and they are used on the basis of the requirements of the business that could provide the business
with the most profitable situation. Branding of the products could be done in the form of making
changes according to different width of the brand (Dinnie, 2015). So for the alteration of external
business situation of Marks & Spencer proper strategies should be formulated. Brand Image of
Nestle can be extended into two forms which are discussed as under:
Breadth Extension: In the following strategy, the business enhances the range of products and
services of the company. As Marks & Spencer was firstly dealing clothing and then later to home
and food products.
Depth Extension: In depth extension strategy, the business launches many products of similar
type such as formal and informal clothing products of Marks & Spencer which is the greatest
example.
B) Branded house
BRAND HIERARCHY
It can be defined as the pictorial description of branding about different products and
services of an organisation. With the help of brand hierarchy, it becomes easy to identify about
the products and services by any organisation such as in the case of Marks & Spencer. Brand
Hierarchy of Marks & Spencer is provided as under:
Corporate Brand: In the following brand hierarchy the difference exists in the products on the
basis of their name such as the formal wears, informal wears, causal wears, etc. are provided
under the company, Marks & Spencer.
Family Brand: Family brands refers to the parent company of the brand of an organisation such
as Bank and Energy of the organisation which are also covered under the name of Marks &
Spencer, which is the parent brand for the Bank and Energy Brand of the company (Elliott and
et. al., 2015).
Modifier: The demands of the customers also changers from time to time so on the basis of
changes in the needs and demands of customers, the changes are made in the strategies of the
company and fulfil the demands of the customers.
Product Descriptor: It is the descriptive model that has been used by the company in order to
provide the customers with the ingredients used in the making of the product produced by the
company. For different products, the ingredients used are different and on the basis they have to
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make use of ingredients and describe on the label. The ingredients used should also possess all
the essentials which are required and demanded by the customers to make the product capable of
attracting the customers towards the products and services of the company.
Brand Equity Management
Brand Equity can be defined as the total value of the brand as a separate asset apart from
the assets and liabilities of the company. So Brand Equity Management can be defined as the
process with the help of which an organisation manages the brand equity of the organisation. The
method of managing the brand equity is also different for different companies. The measurement
could be done with the help of customer knowledge, financial metrics and the preferences of the
customers. Marks & Spencer is dealing in a very competitive environment that makes to develop
suitable strategies that could help the company in facing the competition which is described as
under:
Continuous Differentiation: With the help of this strategy, the company could constantly cover
the market share as this will become a source of attraction for the new customers and make the
potential customers of the company into real customers (Heding, Knudtzen and Bjerre, 2015).
Building Brand Awareness: It can be defined as the awareness about the brand of a company
which are the people know about. It is also an important and crucial concept on which the
companies must look on because this will help in creating and maintaining the customers and
hence the brand equity will be increased and maintained.
C) Hybrid
Hybrid Strategy can be defined as the strategy which an organisation makes use of
achieve differentiation in their products and services and to provide the differentiated products at
low prices to their customers in comparison to the customers of the company. Marks & Spencer
is also making use of this strategy in order to manage their brand portfolio. With the help of this
strategy, it has become possible for the organisation to manage their brand portfolio properly.
The uniqueness is related to the differentiation created in the colour, size, taste of the products
for the people so that they could like them and make their purchase decision.
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TASK 3
Evaluation of Management of Brands Collaboratively in Partnership at Domestic as well as
Global Level
A) Meaning of Brand Leverage
The following method can be defined as the method under which the organisation makes
use of its already existing market image and reputation and makes use of it to enter into the new
markets. This will help the organisation in expanding the business which will ensure long term
growth and survival of the business. In addition to this, brand awareness will also increase, sales
will be positively impacted and profits will also be positively impacted, and the level of
satisfaction of customers will also increase (Hutter, Hautz Dennhardt and Füller, 2013). This will
help in creating a good image of the company in the mind-set of customers which is beneficial
for the growth and survival of the company. Global existence of business will also provide the
company with advantages such as economies of large scale which will lower down the cost of
production of the business.
For example, Marks and Spencer were earlier dealing in clothing products and later on
the benefit of good image of organisation helped in the diversification of business to home
products and food products which also prove to be successful (Santos-Vijande and et. al., 2013).
The benefit of the already existing brand image and reputation of the company has proven to be
successful in the successful launching of new home and food products of the company.
Line extension Brand extension
 Line Extension relates to the extension
of products in the same line such as the
company produces different varieties of
formal wears.
 The difference in the preferences and
suitability level of customers differs, in
this way it will benefit to the customer
and company both (Jugenheimer,
Sheehan and Kelley, 2015).
 Brand Extension is a different concept
in which the existing product of the
company is not related to the new one,
instead a new product is launched such
as the home are and food care products
of Marks and Spencer.
 It will benefit the customer as the
customer base of the company will
increase as the new buyers will also
make the purchase of the products.
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B) Strengths and weakness of the M&S brand
Strengths of Leveraged Brand
 The customer base could be easily increased.
 It will help in achieving competitive advantage over the competitors.
 It helps in the establishment of coordination products offerings. The reduced cost of production is also counted under the strengths of leveraged brand.
Weaknesses of Leveraged Brand with Suggestions for Improvement
 It is not possible that the services provided by the company to customers will always be
upto the level which will impacts negatively on the company. So the company should
make good research about the needs and demands that could save from loss.
 In case the company is launching new product that it may possible that the prices may not
meet the needs and demands of customers so it is important for them to set price lower
and tend to increase.
C) Some options for collaboration and partnership
COLLABORATIVE AND PARTNERSHIP AGREEMENT
In the collaborative agreements the main concern is about the achievement of common
objective and in partnership the main focus in on the achievement of common objective with the
firms that are doing the same business (Kapferer, 2012).
Such as for collaboration, Marks & Spencer could collaborate with some local firms to
get raw materials as the good quality of raw material will help in producing good quality
products and hence brand equity will be managed at the local level.
At the international level, the company could also make partnership agreement which
will help the company in making ease about the environment of new country and the company
will have sufficient time to have knowledge about the new culture and environment.
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TASK 4
Techniques to Managing and Measuring Brand Value:
Brand Value can be defined as the reputation of organisation. It can also be said as the
goodwill of the company that is gained by the company from years of successful work. With
good brand value, it will be easy for the company to gain market share (Mosley, 2014).
1) Brand Awareness:
It refers to the knowledge that people have about the products and services of an
organisation. For ZARA, managing the brand value, the company may make use of
advertisements in newspapers and televisions that will help in managing the brand value. For the
measurement of brand value, it will be clear from the sales and customer satisfaction.
2) Market Share:
The area captured by the company in market is market share. For ZARA, the
measurement of market share, the company can divide the firms earning with that of industries
earning. For managing market share, innovation in the products and improved quality will prove
to be helpful.
3) Consumer Attitude:
It is the behaviour of customers towards products and services of company. For managing
customer attitude, good quality products can be provided to them and for measuring the customer
attitude, the company could make use of surveys could be conducted which will provide the right
answers to the company (Qian, 2014).
4) Purchase Intent:
The probability about the buying or not, condition of the customers regarding any product.
For the measurement of purchase intent of customer, the company can conduct surveys to know
about their intent as such the mostly is about the cost and quality of the products. For managing
purchase intent, ZARA can focus on these two aspects which will provide the company with
competitive advantage and help in managing the purchase intent (Rageh Ismail and Spinelli,
2012).
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CONCLUSION
From the above assignment it has been concluded that branding is very important concept
for the success of an organisation. The application of CBBE Model will also be helpful in
managing the brand equity of an organisation. Additionally, the discussion has been made about
the brand portfolio which helps in the growth and development of the products and services.
Moreover, the focus of the company should be on making the products different from
competitors so that they could increase the market share and create good brand image in the
minds of customers.
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REFERENCES
Books and Journals
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Online
Brand portfolio strategy and brand architecture. 2018. [Online]. Available through:
<https://www.tandfonline.com/doi/full/10.1080/23311975.2018.1483465>.
15 tips on Managing Brand Equity. 2018. [Online]. Available through:
<https://www.marketing91.com/15-tips-managing-brand-equity/>.
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