Exploring Brand Equity and Marketing Strategies

This assignment delves into the world of brand equity and marketing strategies, featuring a compilation of past papers and solved assignments from Desklib. It covers topics such as customer-based brand equity, brand architecture shift, consortium marketing, media relations measurement, external environment analysis, and more. The assignment is designed to provide students with in-depth knowledge and insights on branding and marketing management.

Group Marketing Management
Report and presentation

Executive Summary
This project is a continuation of the part strategic marketing report which describes
suitability of French market for upcoming hybrid super car named as 'Ecospeed'. This report
attempts to identify ways through which successful market entry can be carried out by the
organisation.
This organisation have identified major elements of the marketing mix are to adapted as
per specifications and requirement of the customers so that a probabilities of attaining success
can be improved.
CBBE model have been utilised that used to build a strong customer base on the basis of
strong brand and quality servicing. The concept of this model is basically determined how to
shape customer's behaviour and feeling towards a specific product which assist to build loyalty
and positive experience for business growth.
Integration communication mix method determining needs of undertaking distinct
promotional approaches in order to create awareness about products and services in customer's
mind. Major promotional tools that are being employed by this business for successful market
entry are billboard, web based advertisement and sponsorship.
The success of this business post venturing into the market will be carried out through
considering market share, sales target and profitability of firm on the basis of their new
innovation.

Table of Contents
Executive Summary.........................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
Adaptation and standardisation of marketing mix..................................................................1
CBBE Model..........................................................................................................................3
Integration communication mix and methods........................................................................5
Measurement of success.........................................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is considered as the activity through which organisations develops their
relationship with the customers in order to create value for them as well as company itself. This
report is based on McLaren Automotive, which is a automotive manufacturer and mainly offers
sports cars in United Kingdom. This company is expanding its business in France by launching
new hybrid super car named as 'EcoSpeed'. The reason for choosing France for expansion is that
it has one of the profitable automotive industry in the Europe. The motivation to expand in
France is further influenced due to presence of less competition in premium cars industry. In this
assignment, adaptation and standardisation of marketing mix is evaluated. Further, importance
of integrated marketing communication and its method are described. At last it also elaborates
about the different ways through which this company can measure its success.
TASK
Adaptation and standardisation of marketing mix
Marketing mix is the combination of various marketing tools which are used by
organisation to reach target market. It includes various components like product, price,
promotion, place, physical evidence, process and people. In context to McLaren Automotive,
this company is using all elements of marketing mix in order to expand their business in France.
Standardisation of marketing mix is the strategy in which organisations offers same
product with same price at every location. Main objective of using standardisation is to create
consistency throughout the world or to saving additional cost (Turnbull and et. al., 2016). It is
used by large organisations as it helps them in developing their brand name across the world
through offering similar products. For example: Apple provides highly standardise electronic
product like iPad, computers and iPhone to its customers at all geographical locations with
similar features. These products assist to providing higher satisfaction to customers
(Standardisation vs Adaptation in International Marketing, 2016).
On the other hand, adaption of marketing mix refers to the strategy in which organisation
firstly analyse the actual market where they are entering and then implement marketing mix
according to market situations (Guercini and Woodside, 2012). For example: Red Bull uses
adaptation strategy in all of its marketing strategy in order to satisfy requirements of its
customers at high level. This company designs its products and finalises its colour on the basis
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of culture of country. As in North America it uses red, blue and silver colours in their packaging.
Whereas, in China, they uses red and gold colour because red represents good luck and gold
shows happiness according to the belief of China (Six outstanding automotive marketing
campaigns to get your creative motor running, 2018).
7Ps of Marketing mix
Product: It refers to the item which is produced by organisation to satisfy needs and
requirement of the people. McLaren Automotive offers hybrid car named as “EcoSpeed” which
possess advanced features like kinetic energy recovery system (KERS) that assist to provide an
extra boost around the track, aspirated V8 engine for 1.6 turbo as well as effectiveness of energy
recovery system. It is recommended to McLaren Automotive to opt standardisation strategy,
while expanding its business in France. As this advance features of this car will easily persuade
people of this country towards it (Boateng, 2014). As McLaren provide unique as well as
expensive features in their car, so it might create possibility that customer's feel hesitate while
they desire for the experienced it.
Price: Price refers to the specific amount which customers pays for purchasing the
product. McLaren Automotive should opt focus strategy, as it offers products to customers at
premium price as it is mainly targeting niche market of business and service class people. It has
been recommended to this company to opt for standardised approach when determining price
(Christopher and et. al., 2013). Through this, McLaren can create loyalty of customer's toward
them easily. While on other hand, it might be possible that customers belongs to other segment
will not be able to afford the latest hybrid offering of the company.
Promotion: Promotion refers to various activities which are used by organisation to
increase brand recognition of its products and services at market place. McLaren Automotive is
using online web based promotions in order to reach target market segment. Main reason behind
the adoption of this promotional approach is that, France is a technological advanced nation in
which most popular organisations promote their services through web based platform (Navarro-
García and et. al., 2014). Therefore, customers of the country are tech-savvy in the terms of
analysing information over internet. Or the other hand, McLaren Automotive can go for other
promotional events like sponsorship, billboards, print advertisement etc.
Place: It is the area where organisation offers and distribute their product to the
customers. It has been advised to the company to expand its business in Colombes, France. This
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place is chosen as “Ecospeed”. The distribution channel of firm needs to carried out by more
wisely as comparison to comparison of Peugeot.
Process: It is recommended to McLaren to use adaptation strategy in the process. As
they have to opt relevant process of manufacturing Hybrid cars according to the environment of
France. This company should adapt process which is used by its Strategic partner as it will
support in executing all activities operational activities and also minimize administrative cost.
By this company may fail to involve candidates that are more talented as compared to existing
staff of Peugeot.
Physical Evidence: McLaren Automotive provides vast range of products to its
customer at retail showrooms. It is recommended to McLaren to use adaptation strategy by
using showrooms of its strategic partner Peugeot. This will help company is saving their time
and cost in developing their own showrooms (Yeu and et. al., 2012). This saved time can be
utilised in enhancing interior of showrooms so that customers can feel comfortable while visiting
the store .
People: Employees and customers are considered as people for McLaren Automotive.
Here, this company is entering into France by opting strategic alliance with Peugeot. It is
suggested to McLaren to opt adaptation strategy as they can easily hire skilled manpower of
their strategic partner. This will help them in interacting with customer in France as hired staff is
familiar with their language. Lack of communication or cultural differences can pose as a major
disruption in the operations of the business (Kubacki and et. al., 2015).
CBBE Model
Customer based brand equity model is also known as Keller's Brand Equity model.
Concept of this model is to simply build a strong customer base, which means to stimulates
consumers in purchasing more products of the business so as to achieve improved financial
position in the market. Therefore, McLaren Automotive company is adopting this for creating a
strong customer base. Moreover, Keller's Brand Equity Model can be illustrated by four steps
which are explained below:
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Source: CBBE Model
Step 1: Brand Identity: Under this, prime motive of company is to create “brand
salience” or awareness amongst customers. Main purpose of this process is that organisation
needs to be make sure about their products that can stand out among the major competitors in
market (Dias and Cardoso, 2017). Therefore, in relation with McLaren Automotive, they are
conducting research in order to understand how customer perceive McLaren Automotive as a
brand. Majorly the person as well as families buy such hybrid cars who are fond-off and wants
to have luxuries life.
Therefore, it is required for McLaren to identify existing competitors and their services
as well as additional demand of customer's toward them. These activities assist to make them
modification for trying to providing desirable as well as unique features services in market.
Through this, they can implement incomparable attribute to satisfying their user's need easily.
Step 2: Brand meaning: This shows what company is and what it stands for? Basically it
is based on “performance” which states about how effectively products offered by the company
meeting the needs of customers (Gabrielli and Baghi, 2016). For example: 'EcoSpeed' car
manufactured by McLaren Automotive, on customers demands now have implemented kinetic
energy recovery system (KERS), aspirated V8 engine as well as effectiveness of energy recovery
system which has fulfilled all basic performance categories. Whereas “imagery” refers how
efficiently brand has met consumers' needs on psychological and social level. For example: in
United Kingdom, McLaren Automotive was a renowned brand and clients have good image for
the company.
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Illustration 1:
CBBE Model

For the effective application of these strategies, McLaren needs to identify experience of
their customer's that assist to resulting performance of the car in new market. The possibility of
the success of Hybrid car is depends upon the implementation of customer's requirement who
are possessive toward their social image as well as psychological need.
Step 3: Brand response: In this, response of customer is very important, and it is done
through “judgement ” and “feelings”. It is a tendency that customer make judgement based on
four categories i.e. quality, credibility, consideration and superiority.
In order to improve the judgement of the user's, it is required to feeling of superiority
which is being offered by the products, uniqueness and most importantly quality. All these
activities assist to create loyalty of customer's toward the organisation as well as its products too.
Step 4: Brand resonance: In this process, it is required to attain a effective brand
resonance on the basis of unique servicing or featuring (Koththagoda and Thushara, 2016). The
results of this procedure can be identified when customer's share a psychological bond with
organisation with the level of loyalty.
The major requirement of improvement for this procedure is to create a strong brand
image in customer's mind for conducting a strongest brand loyalty. Therefore, McLaren needs to
implement possible unique features in their new innovation in order to actively engaged with
those user's who buying it or consuming it.
Integration communication mix and methods
Integration communication mix refers to the combination of all brand promotion methods
for promoting particular products in the targeted customers (Chaharbaghi, 2015). According to
Marianne Chrisos, 2018, McLaren needs to undertaking of distinct approaches to promotion that
should be eye catching for their new hybrid “Ecospeed” car in France. It assist to carries wider
reach as well as makes more consumers aware about products and services. McLaren can opt
various promotional methods so to reach its targeted customers in an more effective manner.
Most effective among them are evaluated as below:
Web based advertisement: Web advertisement means promoting products and services
with the use of internet (Marianne Chrisos, Benefits of Integrated Marketing Communications,
2018). It includes social media, websites, emails and blogs (What is Web Advertising, 2018).
Social media can be wide concept that assist in providing several platform to engage customers
on a personal level which helps in achieving improved level market reach.
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Mobile Technology: Mobile technology is also considered as effective promotion tool
as it helps in sharing information of the product and services with mass population. The reason
for undertaking mobile advertising is that there is an increase it the smartphone ownership all
over the globe (Mobile Technology, Its Importance, Present And Future Trends. 2018). This
business can promote its product and service through collaboration with mobile applications to
display a small advertisement highlighting the features of this supercar.
Customer Loyalty program: There are various customer loyalty programs which are
helpful in retaining customer for long term. It includes free services, discounts on every
purchase, loyalty points for every referral and recommendation etc. This avails different kind of
benefits to the customers for their loyalty (Customer Loyalty Programs: A Must-Have Retention
Strategy. 2018). McLaren Automotive can offer free services to the customers on their every
referral which will retain loyal customers toward the company. Along with this, it will also
increase satisfaction level of customers as they are getting additional benefits from the company.
Measurement of success
Measuring success is essential for every organisation as it helps in understanding actual
position that whether it is performing according to the plan or not (Leinemann and Baikaltseva,
2017). In context to McLaren Automotive, it is required by its management to measure it success
in France. There are various ways through which this company can measure its success. Some of
them are described below:
Sales targets: It is a target which is specified by management of company for employees
for specific period of time (Yang, and et. al., 2012). For Example: McLaren Automotive have
provided target to sell 100 car in the first year of their launch in the French market. After
completion of specified time they will monitor actual sales and evaluate performance revenue of
the company. If this target is not achieved by the employees then company can opt promotion
activities like sponsorship and web promotions which will improve its sales in future .
Market share: Market share refers to the actual portion of market which is controlled by
the company. Management of McLaren can monitor its market share by measuring total revenue.
In addition, McLaren needs to emphasize on innovation and strengthening customer
relationships in order to improve share of market which has been controlled by business.
Profitability: Profitability refers to the capability of company of earning profit in the
year (Unterkalmsteiner and et. al., 2012). In context to McLaren, this company can measure its
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revenue by comparing its balance sheet with previous year. For example: This business have
attempted to avail 30% net profit with sale of per hybrid car. It is suggested to McLaren
Automotive to minimise their expenses in operations and achieve economies of scale in order to
enhance profitability.
CONCLUSION
From the above mentioned report it has been concluded that marketing and promoting
product is considered as most essential element for sustaining longer in the market. It also helps
in increasing brand recognition of company. It is analysed that Integrated promotional approach
is best strategy for McLaren Automotive in order to make people aware about this existence of
its hybrid EcoSpeed car in France. IMC strategy will help in influencing targeted customers
towards the company with adoption of different tools such as sponsorships, internet platforms
and billboards. Various ways of measurement have helped in monitoring profit of the McLaren
Automotive.
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REFERENCES
Books and Journals
Boateng, S. L., 2014. Essays from a Marketing PhD: Year One. PearlRichards Foundation.
Chaharbaghi, S. S., 2015. The process of community constitution on the Iranian Plateau during
the Proto-Elamite horizon. State University of New York at Binghamton.
Christopher, M., Payne, A. and Ballantyne, D., 2013. Relationship marketing. Routledge.
Dias, F. and Cardoso, L., 2017. How can brand equity for tourism destinations be used to
preview tourists’ destination choice? An overview from the top of Tower of
Babel. Tourism & Management Studies. 13(2). pp.13-23.
Gabrielli, V. and Baghi, I., 2016. Brand architecture shift and corporate brand equity: an
exploratory study. Marketing Intelligence & Planning. 34(6). pp.777-794.
Guercini, S. and Woodside, A. G., 2012. A strategic supply chain approach: consortium
marketing in the Italian leatherwear industry. Marketing Intelligence & Planning. 30(7).
pp.700-716.
Koththagoda, K. C. and Thushara, S. C., 2016. Customer based brand equity for empowering Sri
Lanka as a tourism destination: with special reference to tea tourism.
Kubacki, K., and et. al., 2015. A systematic review assessing the extent of social marketing
principle use in interventions targeting children (2000-2014). Young Consumers. 16(2).
pp.141-158.
Leinemann, R. and Baikaltseva, E., 2017. Media relations measurement: determining the value
of PR to your company's success. Routledge.
Navarro-García, A., Arenas-Gaitán, J. and Rondán-Cataluña, F. J., 2014. External environment
and the moderating role of export market orientation. Journal of Business Research.
67(5). pp.740-745.
Peck, E. M., 2014. Designing Brain-Computer Interfaces for Intelligent Information Delivery
Systems (Doctoral dissertation, Tufts University).
Turnbull, S., Howe-Walsh, L. and Boulanouar, A., 2016. The advertising standardisation debate
revisited: Implications of Islamic ethics on standardisation/localisation of advertising in
Middle East Islamic States. Journal of Islamic Marketing. 7(1). pp.2-14.
Unterkalmsteiner, M., and et. al., 2012. Evaluation and measurement of software process
improvement—a systematic literature review. IEEE Transactions on Software
Engineering. 38(2). pp.398-424.
Yang, L. R., Chen, J. H. and Wang, H. W., 2012. Assessing impacts of information technology
on project success through knowledge management practice. Automation in
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Yeu, C. S., and et. al., 2012. A comparative study on international marketing mix in China and
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