Brand Portfolio Strategy - PDF
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Added on 2020-10-22
Brand Portfolio Strategy - PDF
Added on 2020-10-22
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Brand Management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11)Introduction.........................................................................................................................12) Main Body..........................................................................................................................23) Conclusion .........................................................................................................................2TASK 2............................................................................................................................................31) Organisation's brand portfolio strategy..............................................................................32) Illustration of the hierarchy management of brands within organisations portfolio..........33) Strategies used for managing the equity of the brand within organisations portfolio.......4TASK 3............................................................................................................................................41) Strengths of the brand that can be leveraged.....................................................................42) Weaknesses that may need attention providing some possible suggestions......................53) Collaborative and partnership agreements.........................................................................5TASK 4............................................................................................................................................61) Brand value........................................................................................................................62) Brand Awareness:..............................................................................................................73) Market share:......................................................................................................................74) Consumer attitudes ............................................................................................................85) Purchasing intent ...............................................................................................................8CONCLUSION ...............................................................................................................................8REFERENCES................................................................................................................................1
INTRODUCTIONBrand management is refer to as an effective process of maintaining, upholding andimproving 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 theevaluation and planning on how that brand name is perceived in the marketplace. This involvesdifferent number of essential aspects such as customer satisfaction, cost, competition and in storepresentation (Arai, Ko and Ross, 2014). Main purpose of conducting this study is to identify thesignificance of brand and to give a clear understanding of how brand is developed and managedover time. This report is divided into different tasks, in task 1 given organisation is ‘OptimumImpression Ltd’ which is an advertising organisation. This task is based on an effective articlewhich include brand is a power for company. In 2 and 3 task, chosen organisation is Coca-Colawhich is a carbonated soft drink company in United kingdom. This chapter include Brandportfolio, 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 1To: Manager of ‘Optimum Impression Ltd’From: Marketing manager Date: 10th October Subject: Brand is Power 1)IntroductionOptimum 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 writean articles for the company's new marketing brochure. Brand management is requisite for anorganisation that helps in selling, trading and sustaining within the competitive businessenvironment. 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. Insimple word, brand is a concept, service or product that is distinguished in publicly from otherservices, concepts or products. It is the role of marketing manager of Optimum Impression Ltdis to develop easy and effective name of their brand which help them to maximise customer baseand maintain long run sustainability at marketplace. 1
Brand equity: It is identified as a term of marketing that determines a brand's value. Thatvalue 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 runsustainability at marketplace. If customer think extremely of a brand, it has a favourable orpositive brand equity. Companies can develop brand equity for their goods by making themsuperior, easily recognizable and memorable in reliability and quality. It can support companyto boost their business's stock price. As optimum impression Ltd has their different identity andperception in the mind of customers that enables to sustain in market with the help of equity thatis created by an organisation over the years due to the providence of quality services. Brandequity help an organisation to build good relationship with their customers as this will aid inbuilding 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. Brandextension is the activity of a well-established brand name for an innovative product or uniqueproduct category. It is used by Optimum Impression Ltd in order increase their sales andprofitability.One of the importance that can be associated with usage of this method is aboutthat help an organisation use their effective brand name within one sector to approach and enterin other sector easily. As having well reputed image of Optimum Impression Ltd. Help todiversify their business activities and grab the large market share in new sector with the help ofprofound image in advertising sector as the business clients and customers are having trust ontheir services.Stages of building a successful brand: In order to building a successful brand, there are mainlysix steps which are used by the business manager within a marketing department. Stages aredetermined as under: Step 1: Determine Target Audience: It is a role of marketing department to identify theirtarget 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 besttype of communication channel to deliver their message about product, service or concept to thetarget 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 toincorporate with their customer base. Company should focus on their mission and vision2
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