Brand Management: Research, Theory and Practice

This assignment is a study guide on brand management, which covers research, theory, and practice in the field. It includes references to various studies and articles on topics such as customer-based brand equity, brand personality, and storytelling in marketing. The assignment also touches on the importance of branding in small and medium enterprises, and how it can impact consumer behavior and purchase intentions.

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1)Introduction.........................................................................................................................1
2) Main Body..........................................................................................................................2
3) Conclusion .........................................................................................................................2
TASK 2............................................................................................................................................3
1) Organisation's brand portfolio strategy..............................................................................3
2) Illustration of the hierarchy management of brands within organisations portfolio..........3
3) Strategies used for managing the equity of the brand within organisations portfolio.......4
TASK 3............................................................................................................................................4
1) Strengths of the brand that can be leveraged.....................................................................4
2) Weaknesses that may need attention providing some possible suggestions......................5
3) Collaborative and partnership agreements.........................................................................5
TASK 4............................................................................................................................................6
1) Brand value........................................................................................................................6
2) Brand Awareness:..............................................................................................................7
3) Market share:......................................................................................................................7
4) Consumer attitudes ............................................................................................................8
5) Purchasing intent ...............................................................................................................8
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................1

INTRODUCTION
Brand management is refer to as an effective process of maintaining, upholding and
improving a brand so that the name is connected with positive outputs (Brand Management -
Meaning and Important Concepts, 2017). In terms of marketing, brand management is the
evaluation and planning on how that brand name is perceived in the marketplace. This involves
different number of essential aspects such as customer satisfaction, cost, competition and in store
presentation (Arai, Ko and Ross, 2014). Main purpose of conducting this study is to identify the
significance of brand and to give a clear understanding of how brand is developed and managed
over time. This report is divided into different tasks, in task 1 given organisation is ‘Optimum
Impression Ltd’ which is an advertising organisation. This task is based on an effective article
which include brand is a power for company. In 2 and 3 task, chosen organisation is Coca-Cola
which is a carbonated soft drink company in United kingdom. This chapter include Brand
portfolio, hierarchy management, brand extension and leverage from Coca-Cola. In last chapter,
different examples of popular brand are used for measuring and managing brand value.
TASK 1
To: Manager of ‘Optimum Impression Ltd’
From: Marketing manager
Date: 10th October
Subject: Brand is Power
1)Introduction
Optimum Impression Ltd is an advertising and private limited company in United Kingdom.
It was incorporated on 6 August 2003. Marketing manager of the organisation decided to write
an articles for the company's new marketing brochure. Brand management is requisite for an
organisation that helps in selling, trading and sustaining within the competitive business
environment.
Brand: It can refer to as an unique design, words, sign, symbol or a combination of these.
Brand is used by each and every company in developing an effective image in marketplace. In
simple word, brand is a concept, service or product that is distinguished in publicly from other
services, concepts or products. It is the role of marketing manager of Optimum Impression Ltd
is to develop easy and effective name of their brand which help them to maximise customer base
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and maintain long run sustainability at marketplace.
Brand equity: It is identified as a term of marketing that determines a brand's value. That
value is described by consumer experiences and perception with the Optimum Impression Ltd .
As per the case study, brand equity of such organisation support them to retain long run
sustainability at marketplace. If customer think extremely of a brand, it has a favourable or
positive brand equity. Companies can develop brand equity for their goods by making them
superior, easily recognizable and memorable in reliability and quality. It can support company
to boost their business's stock price. As optimum impression Ltd has their different identity and
perception in the mind of customers that enables to sustain in market with the help of equity that
is created by an organisation over the years due to the providence of quality services. Brand
equity help an organisation to build good relationship with their customers as this will aid in
building trust.
Brand Extension: Brand extension, also called as brand stretching, popularity of the well-
known brand and leverages the reputation to maximise demand for innovative products. Brand
extension is the activity of a well-established brand name for an innovative product or unique
product category. It is used by Optimum Impression Ltd in order increase their sales and
profitability. One of the importance that can be associated with usage of this method is about
that help an organisation use their effective brand name within one sector to approach and enter
in other sector easily. As having well reputed image of Optimum Impression Ltd. Help to
diversify their business activities and grab the large market share in new sector with the help of
profound image in advertising sector as the business clients and customers are having trust on
their services.
Stages of building a successful brand: In order to building a successful brand, there are mainly
six steps which are used by the business manager within a marketing department. Stages are
determined as under:
Step 1: Determine Target Audience: It is a role of marketing department to identify their
target audience and tailor their mission to meet with customer's needs in the best possible way
(Buil, De Chernatony and Martinez, 2013). For example: Business decide to implement best
type of communication channel to deliver their message about product, service or concept to the
target audience. It will assist an organisation to maintain trust and loyalty of customers.
Step 2: Define Brand Mission: In this step, company want to define their value to
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incorporate with their customer base. Company should focus on their mission and vision
statement, as it is clear and basically depicts the motive of existence. It will lead brand building
process of enterprise across channels. Thus, with the help of this, Optimum Impression Ltd
present an authentic image and goodwill in marketplace and in customer's mind.
Step 3: Research Competition: Under this phase, role of marketing department is to analyse
their competition and examine what they are producing to their target audience. In order to
building a successful brand, Optimum Impression Ltd always aware regarding what competitors
are doing, differentiate them from other and conduct research about their USPs.
Step 4: Create Value Propositions: In this phase, marketing department of Optimum
Impression Ltd is always focus on what strategy help them in order to create valuable and
unique brand. Role of this department is to analyse their propositions or aim that sets business
operations apart from their competitors (Chauhan and Pillai, 2013). Today, audience are more
interacting with different other brands, therefore, manager require to communicate that they
stand out from the market. In every marketing communication, business include their value
preposition which help them in driving across channels. Thus, it is one of the most essential
phase to build a successful brand in all over the globe.
Step 5: Determine Brand Guidelines: This step define brand's tonality of company and sets
particular regulation about how they should interact with the customer. It supports them to
maintain consistency in across different channels and makes business operations more
recognizable. In order to develop brand guide, marketing department should sets a definite
design for their visual components like templates, logo and structure of brand tone.
Step 6: Market Your Brand: In this role, marketing department is to prepare a definite
marketing strategy in order to advertise their brand in successful manner. Optimum Impression
Ltd should apply their branding in every channel of communication from website to marketing
collateral. To promote their brand, company should identify new channels such as affiliates, web
and email. All these are help an organisation to maintain long lasting position at large scale.
2) Main Body
Optimum Impression Ltd is a advertising company that support many other organisation to
promote their products or service at marketplace. Coca-cola take help from the Optimum
Impression Ltd in order to introduce and serve their beverages in all over the world.
Successful strategy for strengthen: There are certain models that are used by the marketing
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manager in order to strengthen their brand across globe. Some are explained as under:
Brand equity: Business brand equity comprise all the emotions, experiences and associations
that comes to mind when an audience is exposed to the brand (Da Silveira, Lages and Simões,
2013). It is important part for the success and development of company so in order to strengthen
their brand, they should provide quality products or services, communicate all information to the
customers and many other. For this, marketing department of the advertising company apply
CBBS model.
Keller’s Customer-Based Brand Equity (CBBE) model: It is also known as brand equity
pyramid which tells us how to make strong brand equity by knowing audience and developing
strategies in accordance. If there is strong connection between the consumer and brand which
help Optimum Impression Ltd to maintain long run sustainability at market. Example: there are
different popular brands like Adidas and Nike which are highly emphasised on sports. Another
solid brand equity such as Optimum Impression Ltd h s Audi and BMW which have worked
more hard. CBBE model has 4 level which is defined as under:
(Source: Keller’s Customer-Based Brand Equity (CBBE) model, 2018)
Level 1- Brand identify: It is an effective way the audience look up to a business brand and how
they differentiate each brand name from another. In order to building equity through brand
identity, large number of the business are spend more amount on advertising and developing
consciousness even before company have profits in the organisation (Dessart, Veloutsou and
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Illustration 1: Keller’s Customer-Based Brand Equity (CBBE)
model

Morgan-Thomas, 2015). For example: different companies and products have developed brand
equity such as Kirkland, Tylenol signature by Starbucks, Coca-Cola and Porsche.
Level 2 – Brand Meaning: This part of the model is divided into two parts which are
determined with the help of example: Brand performance: It is more important and essential for the clients. Companies like
Siemens, Caterpillar, Bosch and many other are well-establish brand because of their
better performance. Not only physical goods, even services such as Apple, Microsoft,
Google operating system are trusted and loved because of their performance. Brand imagery: It is identify the image of organisation in customer's mind. For example:
BMW requires to be rocky but Barbie requires to be soft as a trade name. Word of mouth
and targeted marketing can make a strong image of brand for company.
Level 3 – Brand Response: Once an audience purchase their product or service, they make
expectation towards business brand. If the actuality matches customer's expectation, then they
are more happy and has better feelings regarding the brand. There are different brands such as
Google, Flickr, Ebay etc. for this customer experience is good.
Level 4 – Brand Resonance: It is one who has investigated the last level of Keller’s Brand
equity model. There are some organisations which reach such type of level. For example: Harley
Davidson is the epitome or prototype of brand resonance in such model (Dinnie, 2015).
Company are famous to their bikes such as Harley which is one of the main bile that they ride.
In this, different factors are includes such as behaviour, engagement of customers, value and
attitude, connection and feeling.
Brand extension:
Brand extension refers that when any company wants to launch their products in market then
they use brand name in which consist logo, mark, symbol, name etc. which differentiate the
particular company from other companies. Using an constituted trademark and brand name on
new product for increase the sales (Gundala and Khawaja, 2014). It is a strategy which is used
by an organisation to leverage and increase brand equity. A company use this strategy in its
different different products for product's benefit, featuring, attributes, experting, designer image
etc. Along with this, a similar type of goods can be settled into a various way from the actual
parent goods. For instance: Snickers made into snickers ice cream bars.
Brand reinforcing:
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Brand reinforcement concentrate on maintaining and keeping the brand equity among
new and existing consumers via satisfying the needs and wants of consumers. An organisation
adopt this scheme to reminds consumers about the trade name and its long lasting profit. Brand
reinforcement done through various programs like exhibition, advertising, showroom layouts,
event and sponsorship and promotion etc. for increase the sales and profit maximisation.
Revitalising brand or overcoming a brand crisis:
Revitalising brand strategy or plan of action adopted when profits decrease and product
reaches the maturity stage of product life cycle. This strategy adopted for secure the origin of
equity (consumer) and bring the goods back in the marketplace. For example: Lego started
suffering different losses, then they make up one's mind to get back to basics, advertising its real
line of Lego blocks in forms that provided to imaginations of children and even enlarging to a
broad media presences with movies and video games.
3) Conclusion
Importance of branding as a marketing tool: There are different significance of branding as a
marketing tool. Some are explained as under: Creates consumer preferences for the service or product behind the brand: In order to
promote product and service at marketplace, company follow advertisement and market
research. Both are essential and beneficial for the success and growth of brand.
 Keeps New Competition Away: Segmentation of market is targeted by famous brands
which has more hurdle or barriers to new competitors. If company develop and target a
segment then they will achieve tremendous advantages.
TASK 2
In this task, chosen organisation is Coca-Cola which is a well-known brand in all over the
world. It deals with carbonated soft drink organisation which was introduced in 1886 by John
Pemberton (Hanna and Rowley, 2013). This task includes hierarchy management and brand
portfolio of company.
1) Organisation's brand portfolio strategy
Brand portfolio introduce to the umbrella in which entire brands and brand lines of an
individual firm that include in order to serve the requirements of various market segments. There
are mainly two types of portfolio management strategy which is used by the Coca-Cola are
determined as under:
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Active Portfolio Management Strategy: It is mainly relies on the fact that specific style
of management can create returns or outputs that can beat marketplace. This strategy consists
more average costs and it strain on taking benefit of market inefficiencies (Heding, Knudtzen
and Bjerre, 2015). Such approach is developed by the advice of administrator who evaluate and
examine market for the inefficiencies presence.
Passive Portfolio Management Strategy: This strategy of portfolio management is relies
on fact or figure that marketplace are prompt and it is not easy to beat return of market on regular
basis. This approach includes different style or way of stock selection such as efficient market
theory, aggressive portfolio and many other that help the business to maintain their brand equity.
2) Illustration of the hierarchy management of brands within organisations portfolio
Brand management hierarchy is identifying about treating the expansion, growth and
performance of a brand (Hutter and et. al., 2013). In simple word, it engages in identifying the
brand image and design of logo in line with information done with the assist of market research.
This support in developing few points of differences and parties which set an unique brand name
apart from many other challengers and effect the market share, revenue and sales of the Coca-
Cola.
Management hierarchy
Management hierarchy applied by Coca-Cola are as follows: Umbrella brand: It is a part of family branding, in this same brand product are included
in the marketplace and to the customers (Hwang and Kandampully, 2012). For instance,
in Coca-Cola, diet coke and coke zero are entering under umbrella brand.
 Endorsed sub brands: In this, business sign a bidding with famous person in order to
develop strong image in marketplace. It supports in maximise customer base and achieve
better results within predetermined time period.
3) Strategies used for managing the equity of the brand within organisations portfolio
In order to managing brand equity within organisations portfolio, Aaker Brand Equity
Model is suggested to the Coca-Cola. This model was established by Professor David Aaker that
covers four main elements are determined as under:
Brand as product: This part of the model include product attributes, quality scope and
value. It is important for the Coca-Cola to identify all features of their product which help them
to maximise customer base and attain their gaols and objectives.
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Brand as organisation: This section of the brand equity model includes organisation
attributes, global activities versus local working (Jugenheimer, Sheehan and Kelley, 2015). Thus,
it help the company to provide quality product or service to the customers. It help them to
manage their presences at international and global level.
Brand as person: It includes of consumer brand relationship and brand personality. Thus,
it is the role of manager to maintain strong relation with customers by providing quality product
and services at reasonable price.
Brand as symbol: This part is includes of visual and audio imagery, brand heritage and
metaphorical heritage.
TASK 3
Coca-Cola specialise in marketing of different brands such as Diet coke, Sprite, Fanta,
Mello Yello, Gold peak, Minute Maid and many other. All these are popular brand but in this
chosen brand is Fanta (Kapferer, 2012). This task include strength and weakness of coca-cola
brand and strategies to overcome weaknesses in an effective and systematic manner.
1) Strengths of the brand that can be leveraged
Fanta is a most popular of fruit-flavored carbonated drinks which is develop by the Coca-
Cola organisation and marketed internationally. It was introduced in 1940 and has more than 100
flavours worldwide. There are some strengths of Fanta which are shown as under:
Good return on capital expenditure: Fanta is a papular brand name of Coca-Cola which
is relatively successful at performance of innovative projects and yield better returns on capital
expenditure by making attractive and unique revenue streams.
Superb performance in new markets: Popular brand of Coca-Cola has built expertise at
coming new marketplaces and making progress of them (Lundqvist and et. al., 2013). Therefore,
expansion has supported the business in order to make unique revenue stream as well as change
the economic cycle uncertainty in the marketplace it operates in.
Strong dealer community: Fanta has develop an effective culture among dealers and
distributors where the dealers of company not only advertise business's products but also
capitalised in training. It is essential and important for the sales team to explain entire features of
Fanta to the customer's.
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Excellent branding and advertising: Branding and advertising of Fanta is good and
attractive. It is essential for the business to maximise customer base and accomplish long term
goals and objectives in given time period.
All these are essential for the growth and success of company in large scale. Brand
leveraging is identify as an effective process of developing and building a brand for unique
product. In this, Coca-Cola add new feature in Fanta such as colour, taste and many other. It will
support an organisation to increase their sales and revenues within predetermined time period.
There are some strategy of brand extension which are determined as under:
2) Weaknesses that may need attention providing some possible suggestions
There are some weakness of Fanta which are shown as under:
Aerated drinks not famous with health conscious people: For health conscious people
Fanta is not healthy because it increase diabetes and many other disease (Rageh Ismail and
Spinelli, 2012). Thus, it effect on business operations and profitability ratio in a direct way.
No fruit content but still promoted or advertised as orange drink: It is a main weakness
of the Fanta which effect on entire activities and functions of company.
In order to overcome this weakness, business should provide sugar free drinks to the
health conscious people which help an enterprise to achieve better outcomes and results within
predetermined time period (Rauschnabel and et. al., 2016). Company also use different channels
of communication which assist in maximisation of customer base and benefited to maintain long
run sustainability at marketplace.
3) Collaborative and partnership agreements
Fanta is a most popular brand which is managed collaboratively and in partnership both
at a global and domestic level. Brand extension and leverage: Brand extension is refers that
techniques which is use by an organisation for launching new product under different concept
and category. In this strategy high risk is involve because if brand extension is decline or fail
then its negative impact on parent brand name. For example, Pepsi and Coca-Cola both
organisation deal various kind of products and this raise brand equity of both organisation.
TASK 4
1) Brand value
Brand value could be defined as net present value of a future cash flow of a branded
product that add on to the brand name and its personality. For a global company like Coca Cola,
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it is highly requisite to measure and manage its brand value as it assists firm in taking various
decisions related to mergers and acquisition, licensing, budget allocation, financing and so on
(Rosenbaum-Elliott, Percy and Pervan, 2015). There are various elements that are related to
brand value comprising brand awareness, market share, consumer attitudes and purchasing
intends that equally add on in enhancing a goodwill and brand image of a multinational
organization like Coca Cola. Thus, it is equally important for firm to measure and manage all
these attributes so as to maintain its market position, growth and profitability. Mentioned below
are certain techniques that are adopted by Coca Cola to measure and manage its overall brand
value : Gross Profit Differentiation: One of the easiest way to ascertain brand value is by using
gross profit differential approach. Under this technique, the value of a branded product of
Coca Cola will be equal to price of its that product deducting the average price of similar
non branded products.
 Historical cost or accumulated cost method: This methods take into consideration all the
historical expenses as the brand value i.e. it includes historical cost of creation of the
brand as its actual brand value (Solomon and et. al., 2014). However this method is
subject to a sort fall that it creates confusion for managers to find an attribute to classify
marketing costs and subsequent amortization of marketing cost as percentage sales over
the brand's life expectancy years and also cost of creation of product does not have any
significant relevance with its present value. Coca Cola in order to overcome this
loophole, adjusts its actual cost incurred on launching its brand in inflation where this
adjustment in launch cost is considered as its brand's value.
2) Brand Awareness:
It could be defined as the ability of the consumer to identify and recall that a brand is a
member of certain category of a product. It reflects those brands that are having high value inn
mind's of the customers that significantly impacts their purchase behaviour by inducing them to
select the known brands irrespective of its overall market reviews (Song, Hur and Kim, 2012).
For instance Unilever which forms one of the biggest brand in consumer goods make use of
mentioned below techniques for measuring its consumer's awareness about its various brands. Surveys: This forms one of the most common and easiest method for measuring and
assessing brand awareness of Unilever in its customers. Utilizing this technique the
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researchers surveys limited sample size and make use of general qualitative data to
determine whether people have heard the brand, are aware of its latest products or how
they receive the message that a particular brand gives.
 Search Engine Queries: Another technique that is useful in ascertaining brand
awareness of the company is using tangible metrics for determining accessibility of
customers to locate and navigate company's website. For Unilever, this technique aid
managers to know whether or not customers in their questions are using generic queries
or those related to brand. Tools like Google Analytics reveals out top 2000 solid queries
related to products or brands of Unilever branded messages that helps in maintaining
strong connection as well as two way communication with the audience to make them
aware and influence their behaviour.
3) Market share:
It could be defined as the percentage of an organization or market's total sales that is
earned by a particular firm over a specific period of time. In context to Pepsi, it is one of the
leading beverage brand in the world captures a market share of of around 34% in UK and approx
47% in total world's market share of beverages and soft drinks. Mentioned below is technique
used by Coca Cola for measuring and managing its market share :
 Market Penetration metrics: It helps in measuring the market share or brand popularity
and could defined as the technique to gain knowledge about total number of consumers
that are buying firm's product over a specific time period divided by size of market
population (Wallace, Buil and de Chernatony, 2014). Thus, this technique helps Pepsi to
develop an insight about its total market share by ascertaining the percentage of market
penetration through dividing number of customers who are using company's product by
the total population of that particular region, state or nation.
4) Consumer attitudes
It could be described as amalgamation of three elements i.e. cognitive information,
affective information and one that is related to past behaviour or future intension of a customer.
Thus, it could be describes as thoughts, feelings, beliefs or intension of a consumer towards a
particular brand (Arai, Ko and Ross, 2014). For instance Cadbury which forms to be one of the
biggest confectionery brand critically keep on evaluating the attitude, taste and preferences of its
consumers consistently so as to bring necessary modification or product innovation as per their
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demands. Technique utilize by Cadbury to measure and manage its consumer attitude is
mentioned below :
 Scaling techniques : It assist managers of Cadbury to measure and manage various
aspects of attitude, perception and preferences of its customers with help of certain pre-
determined set of brands of a product and instructions. It involves various tools like
paired comparison, orderly category sorting, ranking method and rating techniques that
helps in predicting demand of a particular product or brand of Cadbury
5) Purchasing intent
It is the probability of consumer to make a purchase of a product or service. For a global
leading cosmetic brand like Lakme, it is of utmost importance to see whether the firm is able to
reach to its potential customers or not (Da Silveira, Lages and Simões, 2013). To measure and
manage its purchase, intent Lakme make use of predictive modelling technique.
 Predictive modelling: It involves the procedure of making use of data mining and
probability forecast outcomes based on historical data of Lakme. It involves core
variables such as factors like demographics, past purchase interaction, website
engagement etc. that get insight of how effective an offline or online marketing campaign
implemented by Lakme.
CONCLUSION
From the above mentioned information, it can be concluded that brand is more important
and essential part for the growth and success of an organisation. There are different models and
approaches are used to maintain brand equity such as Keller’s Customer-Based Brand Equity
(CBBE) model, Aaker Brand Equity Model and many other. All these help in maximisation of
business reputation and goodwill at large scale.
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Online
Brand Management - Meaning and Important Concepts. 2017. [Online]. Available
through.<http://www.managementstudyguide.com/brand-management.htm>.
Keller’s Brand Equity Model. 2018. [Online]. Available
through.<http://www.managementstudyguide.com/brand-management.htm>.
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