Effective Place Brand Management Strategies

This assignment provides an overview of effective place brand management strategies used by companies such as Coca-Cola. It discusses the procedures and techniques employed to develop a strong product brand within a market. The role of advertising and sales promotions in creating brand equity is also examined. Additionally, the importance of international employer brand management, and the use of quality management systems are highlighted.

Brand Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Importance of branding and components to build and manage brand equity..............................3
TASK 2............................................................................................................................................6
Brand Portfolio and Hierarchy Management...............................................................................6
2. Hierarchical management of brands in Coca- Cola ................................................................7
3. Analyse strategies for managing equity of brands...................................................................8
TASK 3............................................................................................................................................9
Brand extension and leverage......................................................................................................9
Task 4 ............................................................................................................................................11
Measuring and managing brand value.......................................................................................11
CONCLUSION..............................................................................................................................13
REFERERNCES............................................................................................................................14

INTRODUCTION
In present time, brand management is consider to be an effective method that help in increasing
and managing the image of brand within the existing market. Manager use to consider important
aspects such as price, customer, cost and rivals that help them to analysis the current market
image of their brands (Ashworth and Kavaratzis, 2010). In this project, optimum impression
company is chosen to understand the importance of brand. In the evaluation context Coca- cola is
selected that is a soft drink manufacture company.
In this project, brand development and management related to branding activity is
discussed. This report also show organisation portfolio strategy and hierarchy management along
with the brand extension and leverage of brand within the respective organisation. Project report
also discuss that different techniques for evaluating and controlling brand value that support to
build best image of company product in the market.
TASK 1
Importance of branding and components to build and manage brand equity.
Introduction
Branding is a process of increasing and promoting a specific product of company with
the help of different marketing strategies, methods and distinctive structure. Optimum
Impression Ltd is one of the leading companies in UK that provide different advertising
services to various other companies. Marketing manager of company prepared an article that
help in developing a complete fresh marketing brochure for Optimum Impression (Hollebeek,
2011).
Brand:
Brand is a unique shaped design or a symbol that helps a company to carry a different identity
in front of its competitors. It is observed that good brand name is helpful in creating trust, faith
and loyalty among customer.
Brand equity: This is preferred to be an effective marketing strategies that help to
examine a value of brand. This specific value comes from customer point and their experience
connected with use of brands. In general it is consider to be premium amount that is generated
by company through different product and brand value. Manager of optimum impression
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applies Keller brand equity model to add value to their product that is discussed below:
Step 1: Brand identify: This step is consider to be important factor that describe
particular identify of brand that is completely different from other firm (Brodie and et. al.,
2013). Thus manager of optimum impression build particular identify in its brand like best
quality, innovative design etc.
Step 2: Brand meaning: At this step company define the exact purpose for developing
new brand that are helpful for customer. With the brand goal and aims optimum impression are
able to increase customer base and increase sales.
Step 3: Brand response: This step is related to the responses of customer towards the
branded product of company (Hwang and Kandampully, 2012). With the help of customer
responses company are able to determine the available o
Step 4: Brand resonance: This step is related to create strong brand image in front of
customer this will beneficial for optimum impression to sustain for long in competition market.
Stage of building a successful brand.
In present era, brand is valuable factor that add power, profit and value to company and
different product. Therefore, manager of company needs to build a successful brand image in
this present market that help to increase sales and improve the overall status of company within
the market (Steps For A Successful Brand Building Process, 2018). There are important stages
of developing a successful brand that are discussed below:
Identifying target audience: Manager of optimum impression must ascertain their
target customer while developing the brand for their product. They should also make sure that
needs must be fulfilled and customer must feel satisfy with company’s product. Manager must
divide the customer into different groups on the different basis such as age, life-style, income
level etc.
Define brand mission: It is very important for company to define the main purpose and
mission of developing new brand. Thus to attract large number of customer manager must
clearly state the exact mission of brand and value to consumer.
Determine competition: This stage is consider to be very important, because building a
successful brand image company must know about their competition in detail. This help
optimum impression to determine the different company in market and product and services
offered by them. Thus they can offer more advance and innovative product.
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Build value propositions: Nowadays organization always centre to make their brand
specific, unique and precious to the clients. In present era, there is huge competition within
market, so its is essential for optimum impression to add quality in their brand that attract large
number of people.
Market the brand: Last stage is related to marketing of brand produced by company to
existing and new customer (Balmer and Chen, 2017). Thus Optimum impression must use
different channels of marketing like email, website and display advertise on various other social
platform.
Role of marketing department in developing brand equity.
In today's world competition is to high as every company wants to attract large
customer. Thus marketing department plays an important role in creating a strong and positive
market image. This help to convey customer and buy product in order to fulfil their needs.
Marketing division of Optimum impression promote different services offered by them through
different channels like T.V ads, newspaper etc. They also provide useful information related to
promotional coupons, offers etc. that support to increase sale and enhance customer base.
Manager identify the development and growth opportunities present in market. This assist to
develop product according to the needs and requirement of customer.
MAIN BODY
In recent time, the Nike is facing a problem of maintaining quality in customer services
and packaging different product. But it is observed that company is able to position them well
in market by adopting and implementing different marketing strategies that are discussed
below:
Successful strategies for brand equity
Quality product: This is considered to be most important element for company growth
as quality product help to enhance customer base. Nike provide the best quality sports product
to the customer to make them satisfy. This makes them to become permanent purchaser of
product of Nike. Manager of company make sure that quality of product doesn't comprise due to
any reason that may reduce customer interest (Buil, Chernatony and Martínez, 2013).
Maintain brand image: Manager of Nike comes with the objective to maintain the
brand image same for the life time. They use to target customer in order to determine needs and
wants so that quality of product can be maintained.
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Listen to customer: Recently, Nike have also developed after sales services in order to
maintain customer base and make them feel special. They develop a team that listen to the
query and problem of customer and gives provide valuable solution.
Brand extension:
This process is basically related to developing and marketing a fresh good in the existing
market with the name of already popular brand. Thus Nike has extended its product from shoes
to cloths, games equipment etc. that help customer to buy different product under the same
store. This also help to build valuable brand image in market and increase profitability
(Christiaans, 2012).
Reinforcement and revitalising the brand.
Company uses brand reinforcement that help to maintain brand equity in the existing
market with the support of building good brand among new and existing customer. Thus
manager of Nike applies various effective strategies to make customer aware about new product
manufacture by company. These are discussed below:
Advertising: With the help of proper and attractive advertising activity Nike are able to
increase customer base from adults to children's. As customer are always wants quality product
and Nike deliver best quality goods.
Promotion: In order to increase sales at a specific time period company apply various
promotion activity. Thus Nike gives special sales and discount offer to attain the attention of
consumer and increase profit.
Conclusion
From the above discussion it has been concluded that branding helps in promoting and
marketing of different product of company. It help in developing faith and interest of customer
towards particular product. Company in order to increase sales and attract customer adopt the
process of brand extension (Jiang and Iles, 2011). Further branding is also important for
marketing as it not only create loyal customer but also develop loyal employees. It also help to
increase credibility of business by improving the perception of various operation .
TASK 2
Brand Portfolio and Hierarchy Management
1. Analyse the organisation’s brand portfolio strategy
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Brand portfolio strategy – This is an important strategy which is used by the
corporation to operate in more than one brand products (Dempsey and Gruver, 2012). There are
various brands of Coca- Cola such as Maaza, Sprite, Thumps-ups etc. These are the brands of
organisation and it uses different strategies for every product which provides help in brand
portfolio strategy. Different strategies for properly managing brand portfolio are described as
below -
Well defined brand role- To identify the role of specific brand it is important for an
organisation and Coca- Cola always defines the purpose when it introduces the brand. As a
result, brand value of that product can be established in the market which help the corporation to
grab more market share.
Umbrella sub brands- Under this category company can sell two or more products under
the one brand name. Coca- Cola company is selling diet coke and coke under the category of
same brand and its get success in this.
Distinctive products against competitors- To distinct products from the competitors is
necessary for an organisation so that it can grab more market share. Coca- Cola differentiate its
products from Pepsi which help it to makes its brand value and maximize the profits.
2. Hierarchical management of brands in Coca- Cola
It is way of summarising the branding strategies by displaying the number and nature of
distinctive and common brand elements across company's products. To make differentiate from
its rivals hierarchy management is to develop by Coca- Cola.
Hierarchy management of Coca- Cola:
Umbrella Brand- Under this category two or more products of company are sold under
one specific brand (Esch and et. al., 2014). Diet coke and Coca-cola comes under the umbrella
brand. It is very useful technique which provides help the organisation to enhance its market
value and brand image.
Products- There are various products of company which are introduce to satisfy the
needs of different segments of persons. Coca- Cola offers variety of products such as Maaza,
Thums-up etc. and it is using different strategies of branding to these products.
Endorsed sub brands- In the present context, Coca cola should hire a famous
personality so that right approach for the promotion can be used to increase profits and enhance
customer targets
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3. Analyse strategies for managing equity of brands
Brand equity is a marketing term which is associated with brand value. Consumer
experience and perception helps to evaluate the value of brand. It reflects that company has good
brand image in the market which can attract more consumers.
Strategies for managing equity of brands
Proper and effective communication- To survive in the market, effective communication
is required and Coca- Cola is able to communicate about its products to the consumers.
Proper image and reputation- Good reputation and image can be built by satisfy the
needs of consumers and products of Coca- Cola are able to satisfy the desires of persons. As a
result, it has a good reputation in the market.
Effective Collaboration- To develop a brand it is essential to make collaboration with all
members of organisation. Employees of Coca- Cola are always ready to solve the problem which
help the company to reach its targets on time.
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Legal and ethical decision making- To survive in the nation it is essential to follow all
legal compliances and ethics which help Coca- Cola to survive in the market for a long time and
expand its reach. By using these strategy brand value can be enhanced and company can earn
more profits.
TASK 3
Brand extension and leverage
Strength of the brand that can be leveraged
Brand leveraging: It is regard to be an effective strategy that is related to the use of
power of already present brand to help organisation enter into new market but with the same
product concept. Company use to communicate valuable information to the customer about the
product. For example, Coca cola have produced new sugar free diet coke that help them to
increase customer faith and increase profit. In general, Coca-Cola is a popular brand that shall
permit thumps-up to decently come in the existing market and obtain large market share.
Different strength that Thumps-ups a product of coca cola used to leverage:
Return on capital expenditure: It is noticed that Thumps-ups is one of the popular
product of coca cola that will helpful in attracting large number of customer in short period of
time. Thus it will provide greater return on capital expenditure as company do not have to spend
more on advertising activity.
Low investment on research: In addition, coca cola does not have to spend amount on
research of market and customer demand as they in order to sales Thumps-ups. As company
already knows about the specific wants of customer. This will permit the brand name to acquire
big industry without doing investment on examine client demands.
2. Weaknesses that may need attention providing some possible suggestions
Following are the major identified weaknesses of Thums-up that require some amendments in
order to cover large share in market:
Not popular with health conscious people- Due to negative publicity of Thums-ups
with regards to health issue, it is not popular among people who are health conscious (Hanna and
Rowley, 2011).
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Internal brands/ Similar product category- Substitute or similar products also affects
revenue from sale of product, in this context Pepsi, sprite etc. are similar products that affects
revenue of Thums-ups by providing similar drinks at low prices.
Suggestions to overcome the weakness or to become superior against their competitors
In the present time, it has been observed that people are more conscious about their health
as they prefer eating healthy food and avoid drinking drinks that could harm the body. Thus its is
observed that Coco cola has produced various kind of drink that do not effect the body of
customer. For example company produce diet coke for the individual those have high sugar
problem. Coca cola has also relaunched Coke Zero for customer sio that the can enjoy the real
taste of Coca cola in a Zero calorie, sugar free beverage. To sell Thums-ups among health
conscious people Thums-up should start advertisement campaigns to spread positive views about
Thums-up. It is also observed that company have launched Dasani and smart water brands that
are gaining popularity among customer all over the world. This help coca cola to become one ogf
the leading company in world covering more that half market share that also help to increase
profitability during recent year. Some of the important points are:
 Brand should come up with sugar free products which would attract the customers who
are health conscious and would likely capture larger market share and enhances good
image in the market.
 As there is wide variety of similar products brand should maintain high quality and taste
in their drinks which satisfies customer needs which will reduce customers switching
cost.
3. Collaborative and partnership agreements
In general, branding is known as one of the valuable process that support company to
make their product different from rivals present in market. Collaborative and partnership
agreements are commonly known as the valuable decision and strategies taken by company to
share available resources and attain common goal. Recently coca coal and spotify have
partnership in order to promote music services for customer. The main focus of this partnership
is to provide best online music facilities in different mode to large and connect customer on the
basis of music the love. This help both company in order to build good market image at global
level and also aid to expand business across different countries.
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It is also observed that Thumps-ups and McDonald's has done collaborated agreements in
respect to increase goodwill and enhance customer base that directly help to increase profit for
both company. Thus it is observed that brand can be more superior in this competitive market as
company will add more advantage to their product. For example, in McDonald's outlet customer
are provided with variety of coke manufacture by coca cola. Such as they offered combo pack
including burger, coke and french fries that makes product special in market. Thus it will be
helpful for coca cola and McDonald's to gain huge profit during an accounting year (Gratwohl
and et. al., 2011).
Task 4
Measuring and managing brand value
Brand value- Actual net present value of the cash flow which is directly associated with the
brand is known as its brand value. To maximize the value of brand it essential for an organisation
so that it can expand its business which provides help to Coca- Cola to increase its sales. It refers
to the net present value or future value of cash flows that are attributable to the brand name. For
example, when Coca- Cola brings new coke than there were a huge protest from the persons as
the organisation has compromised with the taste of drink. It reflects the sign of brand value of the
product and forced corporation to reintroduce original coke named Coca- Cola Classic.
To manage the brand value is important for an organisation so that it can grab more
market share and earn more profits. There are various approaches of valuing brands such as:
Cost based approach- By using this approach value of the brand can be identified by
comparing the cost with the historic data analysis. It is used to replacing or creation of brand.
Financial based approach- According to this approach an organisation can use it to
replace old products or modify the existing products which help to increase the brand value.
Research based approach- This approach is focuses on figures and facts of recent market
situation where organisation targets market value. It helps to identify consumer behaviour and
attitudes in context to the brand. Coca- Cola can use various techniques which provides helps to
identify its brand image in different ways:
Brand awareness- For an organisation it is essential to aware the persons about its brand so that
more number of persons can know about the products and services of company. It helps the
corporation to expand its market reach and maximize its profits by higher sales. Brand awareness
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can be measured with the assist of special research based on formulation by grouping
information about the commodity reported to consumer activity. It provides a better perceptive
regarding its execution by measurement the figure of possible customers of their company.
Market share- For a company it is essential to grab more market share so that its profits
can be maximize. Coca- Cola always try to capture higher share in the market by applying
effective marketing strategy so that it can expand its business and generates more revenues.
There are various techniques which are used to measure the market share such as:
Market share building- With the help of this technique organisation can build its market
share through innovation, promotion and segmentation. Coca- Cola is able to do it perfectly as a
result it has good market share.
Consumer Attitudes- To know the behaviour of consumers is important for an
organisation so that it can deliver the product as per the needs of persons. Consumer likes the
products of Coca- Cola and have positive attitude towards the products of corporation.
Consumer attitude could be measured by-
Structured Methods- The method which is formal in nature and has systematic sequence
This method can be use by Coca- Cola company to know about attitudes of customers so that it
can provide products as per the desires of consumers.
Purchasing intent- It represent the willingness of consumers to purchase the products or
service of the organisation and it is based upon brand perception. Persons are willing to buy the
products of Coca- Cola because it provides the products as per the needs of consumers and it
always try to satisfy the wants of persons so that more number of people can be satisfy. It helps
the corporation to build image and there are different techniques of measuring buying intent
which are as follows:
Quality Products- Willing of buying in a consumer can be develop by satisfy the needs
of consumers and Coca- Cola always try to provides quality so that more number of consumer
can be satisfy.
Offers- To develop buying willing intent, it is most essential tool which can be used by
Coca- Cola to provides time to time offers so that consumers can attract towards the
organisation. As a result, sales can be maximized.
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CONCLUSION
In the conclusion, it has been stated that brand management is process that is used by
almost every in order to make their product distinctive and productive in this competitive market.
Various company are paradigm on creating unique and valuable brand that help them to make
their product look special form the competition. Respective company Coca-cola uses various
procedure and strategies that support to develop strong product brand within market. This also
assist in developing impressive portfolio management of brands inside the company functions. It
is also concluded that company have also done extension and agreements with more brand. This
aid in growing brand value and increasing better public image within the existing market.
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REFERERNCES
Books and Journals
Ashworth, G. and Kavaratzis, M. eds., 2010. Towards effective place brand management:
Branding European cities and regions. Edward Elgar Publishing.
Brodie, R. J. and et. al., 2013. Consumer engagement in a virtual brand community: An
exploratory analysis. Journal of Business Research. 66(1). pp.105-114.
Balmer, J. M. and Chen, W. eds., 2017. Advances in Chinese Brand Management. Palgrave
Macmillan UK.
Buil, I., De Chernatony, L. and Martínez, E., 2013. Examining the role of advertising and sales
promotions in brand equity creation. Journal of Business Research. 66(1). pp.115-122.
Christiaans, L., 2012. International employer brand management: A multilevel analysis and
segmentation of students' preferences. Springer Science & Business Media.
Dempsey, J. M. and Gruver, E., 2012. “The Public Interest Must Dominate”: Herbert Hoover
and the Public Interest, Convenience, and Necessity. Journal of Radio & Audio Media.
19(1). pp.96-109.
Esch, F. R., and et. al., 2014. Corporate Brand Management: Marken als Anker strategischer
Führung von Unternehmen. Springer-Verlag.
Gratwohl, A. and et. al., 2011. Introduction of a quality management system and outcome after
hematopoietic stem-cell transplantation. Journal of clinical oncology. 29(15). pp.1980-
1986.
Hanna, S. and Rowley, J., 2011. Towards a strategic place brand-management model. Journal of
Marketing Management. 27(5-6). pp.458-476.
Hollebeek, L., 2011. Exploring customer brand engagement: definition and themes. Journal of
strategic Marketing. 19(7). pp.555-573.
Hwang, J. and Kandampully, J., 2012. The role of emotional aspects in younger consumer-brand
relationships. Journal of Product & Brand Management. 21(2). pp.98-108.
Jiang, T. and Iles, P., 2011. Employer-brand equity, organizational attractiveness and talent
management in the Zhejiang private sector, China. Journal of Technology Management
in China. 6(1). pp.97-110.
Online
Steps For A Successful Brand Building Process. 2018. [Online]. Available through:
<https://blog.payumoney.com/6-simple-steps-for-a-successful-brand-building-process/
>.
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