This document discusses the concept of strategic brand management and its importance in business. It includes a case study of Marks and Spencer, analyzing its current brand positioning. The document also provides insights on how to develop a new brand positioning.
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Table of Contents Introduction......................................................................................................................................3 .An introduction which explains the reasons behind the choice of your brand. (About 500 words)..........................................................................................................................................3 II. An analysis of the current positioning of the brand. (About 1000 words)..............................4 •INSERTTHEPOSITIONINGMAPOFTHEBRANDCOMPAREDWITH COMPETITORS..........................................................................................................................6 IV.Developmentofmanagerialrecommendationsabouthowtobringthenewbrand positioning to life. For instance, what communication leverages should be used to implement the new brand positioning with the target market?......................................................................7 REFERENCES..............................................................................................................................10
.An introduction which explains the reasons behind the choice of your brand. (About 500 words) Marks and Spencer is chosen for completing this project as it is one of the leading retail company within business environment. This is an organisation that is involved in developing new strategies ad plans for completing the goals. There are several marketing techniques used by the company to grab opportunities within business environment. These help in managing the work effectively and reaching organisational goals. Most firms concentrate their branding strategies on selling agencies, such as packaging and advertisement. But if your company struggles to motivate its staff to be brand ambassadors, one of your most valuable tools is losing out on you the employees (Blanchard, 2017). Building a good brand requires workers to feel linked to and a part of it no matter what product or service you provide, as well as to realise the role they play in bringing the vision of your brand into reality. A highly Diversified international retailer with offices in London, England, Marks and Spencer Group plc (usually referred as M&S or common parlance Marks and Sparks) deals in the distribution of clothes, home goods and food products, often of its own name. It is a member of the FTSE 250 Index and is listed on the London Stock Exchange, having previously been in the FTSE 100 Index from its inception until 2019. M&S was founded in Leeds in 1884 by Michael Marks and Thomas Spencer. At present, M&S has 847 outlets in the U.K. Like 615, which only sells types of food and claims the unique quality and luxury of its food and drinks both through tv advertising; it also has an online food distribution service. The firm was the first Retail business to make a pre-tax profit of more than 1 billion usd in 1998, but it eventually went through a sudden recession that shocked the employee and the company. These are some of the UK's oldest the most well brands has been Marks & Spencer. Initially developed in 1884, with an instructors on pricing, cost, and consumer service, it has been transforming the way we act and think about shopping for far more than centuries. Although Marks & Spencer has faced a few challenges on the path to growth, like any light as possible enterprise, it has also been able to show us the strength of an organisation that understands how to embrace its values and adapt to meet its clients' needs (Dohnalová,2019). The M&S brand has faced many struggles, dry spells, and PR concerns, and remains a colossal force in the middle of British culture, selling in more than 300 stores around the country. M&S wants to take advantage of the influence of logo design
to prove that whilst the central definition of quality remains important to the company, steps have also been made to m actually what "value means to its clients. "The new logo is clear, simple, representing a Marks & Spencer that is more focused, while the "Est. "1884" proves its place in history. Even the latest ad push, along with the current "Spend it Well" slogan, aims to illustrate how the brand has changed over the years, replacing the Only M&S" banner to demonstrate that M&S is actually focused directly on the community's needs. Article 1- It’s not just branding, it’s Marks & Spencer branding, Stewart Hodgson (https://medium.com/@Stewart_Fabrik/its-not-just-branding-it-s-marks-spencer-branding- bcd3df9988cc) Customers are vocal regarding giving their opinion regarding the British brand, marks and Spencer. This is an oldest brand and people are having loyal and faith trust on this brand. There are new hurdles within this brand when it comes to the success. This brand has survived a lot of hurdles and it is managing approximately 300 stores across the country. M&S is involved in identifying and providing services which have drastically changed. This British brand has proved it's efficiency in different ways. Article2M&SClothingistryingtostrikeabalancebetweenbrandandproduct marketing, ByImogen Watson-11 February 2020 M&S Clothing is trying to strike a balance between brand and product marketing When customers are asked about brand reputation in market then it is concluded that this company has been given fourth rank. This sells 15 pairs of product in context of women denim. There is analysis that this company is able to manage the success within market. II. An analysis of the current positioning of the brand. (About 1000 words) Marks and Spencer's (M&S) has been categorised into three groups of Ideal and Classic clothing lines, the Autograph range, and the Per Una range. Each collection has been created for a particular customer in the women's clothing industry target group. To satisfy their consumer standards and optimise the goods, Marks and Spencer must recognise what their client wants. According to their decision, consumers will appear to assess the goods and services to compare the price, cost, incentives, values, and pre-and post services along with rivals to decide which brand they want. Using population segmentation to determine what their client wants, Marks and Spencer. In terms of age, ethnicity, salary, social status, and others, Mark and Spencer target their clients (Hale-White, 2019). This is because, at any moment, consumers will change their
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desires and wishes. So, Marks and Spencer should be conscious that this problem is happening. The Best and Iconic ranges strive to represent Marks and Spencer's core clients. Main customers of Marks and Spencer are targeted by men and women between 35 and 55 years old. The apparel is built in a basic and simplistic manner and includes plain white tops, black roll-neck sweaters and pants. The complete set. For busy lifestyle clients, clothes must be machine-washable, non- iron, and tumble-dry comfortable. Customers who are looking for these ranges enjoy realistic high quality and value at fair prices. In addition, the design must be timeless, which suggests that the design will not be obsolete from time to time. The Classic Collection is targeted at more mature consumers and tends to serve their customers in various formats, such as smart, elegant and optimistic styles. For these ranges, the styles are minimal to ensure that buyers can find their right garments. In the spring and summer of 2000, the Autograph collection was introduced and it is a new seasonal range (Lemonnier, and Spencer, 2019). This variation is that M&S focuses upon income of customers. A variety of garments, male and female accessories has been created for this design. It offers the core demand for Marks and Spencer with a more up-to-market range of garments. The Autograph series offers the best designer collection inside a designer shop atmosphere to Market and Spencer buyers at high street prices. In the autograph range, though the spring and summer range is limited to only 60 paint types per season. A little like formal wear or fashionable clothes, the Autograph collection styles. Elegant clothes, for example, may be used for work or shopping. The Per Una range was launched. The fashion-conscious women aged between 25 and 35 years, sizes 8-18, were the target customers per Una selection. The high-quality fabrics are produced by this collection and the designs are the current trends. In addition, the products of the Per Una line are offered in a limited version, which makes them exclusive on the market. In comparison, the costs were 10 percent more costly than other ranges from Marks and Spencer. For age and gender in Per Una, their main consumers are under the age of 25 to 35 fashion- conscious young lady Marks and Spencer (Olubodun, 2019). The old ladies like to buy the fashionable or fashion clothes around this, particularly the limited edition, since it is very exclusive and tiny on the market. So to design the limited edition garments for the buyers, the Marks and Spencer designer must define their age group. In Marks and Spencer, both their order winners and their order qualifiers are very simple. The order winners and order qualifiers for
each range was listed by Marks and Spencer as the top retailer in the UK. This will help consumers perceive that the apparel manufactured by Marks and Spencer is of high quality and that their consumer needs are fulfilled by competitive pricing. Each range of clothing at Marks and Spencer has various order winners and order qualifiers to attract different customers in the UK. Order winners are those strategic attributes that allow clients of a business to prefer the products and services of that company over those of its rivals. It can be seen as a strategic advantage for the organisation (PARIZOT, 2020). Normally, it seldom relies on more than two of the above strategic strategies. Price or expense, speed of distribution, efficiency of delivery, consistency,productstyle,versatility,brandname,andafter-marketsupportwere included.Strategic management is defined as the way for managing reputation and image of brand within market. It needs a consistent and thorough view of three aspects to build a strategic brand management system to handle your brand equity (Beiginia, and et.al, 2019).the brand itself its target demographic, and the general mission and priorities of the business. For brand marketing, a strong relationship with the target market is a must. That would be seen in weak revenue, poor retaining of consumers, and slow growth if you have bad branding. Brand management must take complete care of the brand to be successful, employing marketing tactics in a manner that guarantees that the whole brand is highlighted, taken care of and marketed. Ultimately, it should be about making a decision and actually providing on the obligation to the clients. •INSERTTHEPOSITIONINGMAPOFTHEBRANDCOMPAREDWITH COMPETITORS
Competitors of Marks and Spencer Marks & Spencer's top competitors include Debenhams, Macy's, John Lewis Partnership, Aldi UK, Asda, Tesco, Next and Waitrose & Partners. III. Development of a new brand positioning. (About 1000 words) Brand positioning is defined as the way of managing business activities and tasks in such a way that all objectives and goals of company are achieved in specified time frame (Taylor, and et.al, 2020). Brand positioning is characterised in the mind of the target customer as the conceptual location you want to own the advantages you want them to think of as they think of your brand. Inoptimisingbrandappeal,anefficientbrandpositioningapproachcanoptimiseclient significance and strategic distinctiveness. Relevance, distinction and credibility/attainability are core goals of brand positioning, as defined here:
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Priority #1 is Strategic Positoning Importance. Customers ought to find the brand enticing. If not, regardless of how differentiated or trustworthy it is the brand won't make it into the consideration package. Differentiation is crucial and the primary predictor of performance in positioning. The brand must be exclusive in contrast to competitive deals. The final calculation is creditable and attainable. If you do not credibly deliver the bid, an empty guarantee is left to the client. It is increasingly important to achieve all three positioning targets at the same time while designing a brand positioning strategy. This is because the possibility of being commoditized is run by products that are extremely important, but not distinguished. Similarly, widely distinct, though not especially important, brands are becoming specialty suppliers. The decline of Marks & Spencer since the 1990s is attributed largely to external forces in the business climate and the failure of M&S to respond to them (K. Mellahi, 2002): ·Established UK distributors such as Next have been turned into good price and quality M&S rivals, new outlets such as Zara and H&M have captured a growing number of Market share, supermarketplayerssuch asMatalan and Primark grew, and older department stores re-invented themselves, like Debenhams, as brand-led boutique lines. ·The increased processing capacity in Asia resulted in a flood into western supermarkets of increasingly high-quality but substantially cheaper products. M&S was originally hesitant to change its 'purchase British' strategy, but it became a public relations (PR) failure when it was forced to do so to compete in the industry. M&S' comparative edge on the supply chain front was obviated by technical transition. There are many types of techniques for placement. Positioning by A few examples are: Attributes and advantages of the product: associating the brand/product with some qualities or with any advantageous meaning Product price: Associating favourable prices with the brand/product Value of the product: Associating good quality with the brand/product Usage and use of products: Associating the brand/product with a particular use Competitors: Make buyers believe your product/brand is better than your competitors' Brand management is essential to the organization's growth, and wise businesses recognise that successful brands are not created by ads alone, but need a position for every employee.
Althougheachapproachforbrandmanagementisdifferentintermsofcapitaland implementation, the aim is the same: to create a distinct and successful brand. Consistent advertising through every marketing medium can mean that their understanding of your brand is right in line with how you expect it to be viewed as consumers think about it. Customers now expect businesses to deal with their demands via social media. A good customer service investment will create positive partnerships between your business and your clients. Even with social media, the customer service problem remains as challenging as it was before. Social networking facilitates direct contact and input from customers. Businesses should also respond right away to their customers. With almost half of US customers using social media to ask questions about products or services, it is extremely important to have a customer service strategy for social media. Step 1: You need to evaluate the following in order to establish a special and effective placement for your brand: ï‚·Comprehend what the clients want ï‚·Understand what the strengths of your company and brand are ï‚·Understand how each rival places the brand Step 2: You may need to pick a positioning comment after you've done that: Resonate with the clients Your organisation will provide (capabilities) That's different from your rivals. Summarizing it in three terms is a simple way to describe a brand branding statement. "Vegan, traditional & feminine, for instance." Since this is the target of any brand, try not to use generic terms like "quality-products, unique, successful". Move 3: This brand positioning is then mirrored in everything you do (brand personality, packaging design, product, service, graphic identity design, communications, etc.) as the remaining challenge. Product: The wine produced by Marks and Spencer is smooth and sweet in taste and as accessible as beer and ready-to-drink cocktails. It resulted in an easy-drinking wine to grow an affection for it that did not need years of experience. Name: A fun and adventurous name which reflects the tail of an animal.
The visual identity: Without abstract oenological terminology, creating a friendly, colourful and unintimidating packaging style. The marketing strategy: Concentrating their communication with the brand ambassador on in-storeeventsthattendedtoperceivetheproductasopenandfunny/down-to-earth advertising. The amount: Promising a price of less than $10 to be viewed as "approachable" and used on any festive occasion. Point of difference is a phrase used to describe the areas in which brands distinguish themselves from others. In terms of consumer preference, many strategists believe that this is the way to achieve the best results. We also have points of parity, is from the other hand. In order to be called in the mind of the consumer, points of parity are factors that a company needed. .This is where a brand may be similar to others, leading customers to think that the brand is "good enough". M&S is into each and every sector like retail, garment, grocery, etc. This is a point of parity for this brand. Moreover, this brand focuses upon garment collection of women which makes it unique and this is a point of difference. IV. Development of managerial recommendations about how to bring the new brand positioningtolife.Forinstance,whatcommunicationleveragesshouldbeusedto implement the new brand positioning with the target market? Marks and spencer is a big organisation and this is basically focusing upon females. There are several campaigns followed by this company in order to attract females of different ages. It helps in managing the promotion of new products and services to potential females in specified time frame. There is need to use social media for attracting various people towards Marks and Spencer products. Christmas advertisements are made very attractive for attracting people and making them to convince potential people to come and buy new products.It continues its ways to encourage with consumers, presently running a promotion for its famous Percy Pig range of sweets to name classic features. In the 13 weeks to 28 December, M&S had a mixed Christmas, with like-for-like sales in its food company up 1.6%, but general goods, including clothes, dropped 2.1%. Nonetheless, M&S said it is making some headway, with Kantar figures showing "small market share growth" in womenswear for the first time in three years for the 12 weeks to 24 November and a positive reception for its Spring/Summer line from the fashion press. In "key strategy areas," the store said it saw revenue increases, with dress sales up 110 percent and coats
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growing by a third. The spokesman said that in places such as lingerie, consumers have "traded" on quality and design, sponsored by the Rosie for Autograph range, which featured in its Christmas ads.Several campaigns are started by M&S for making different individuals to visit the shop and buy new products. There is need to manage the effectiveness of products so that goals and targets can be achieved in less time. There is need to manage the advertisement on social media sites like Facebook, Instagram, etc. for attracting more number of people in less time. Social networking itself is a catch-all word for applications and platforms that can have social acts that are fundamentally different. Twitter, for example, is a social network designed to encourage users to communicate with others brief messages and media connections. Meanwhile, Facebook is a full-blown social networking platform that allows alerts, images, meetings, communities and a number of other activities to be shared. These websites help in posting videos, photos and experience of customers easily. Most of the people are using social media nowdays and it is convenient to attract new customers by using social media. There are following ways by which M&S can attract new youngsters towards clothing products - ï‚·Identify Your Ideal Client. It's easier to look for customers if you know the type of consumers you seek. ï‚·Discover Where Your Customer Lives ï‚·Know Your Business Inside and Out ï‚·Position Yourself as the Answer ï‚·Try Direct ResponseMarketing ï‚·Build Partnerships. ï‚·Follow Up.