Brand Management Report: Analysis of Optimum Impression Ltd's Branding

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This report delves into the critical aspects of brand management, focusing on Optimum Impression Ltd., an advertising company. The report examines the core concepts of branding, emphasizing the importance of brand equity and its impact on customer loyalty and market share. It outlines the stages involved in building a successful brand, including identifying the target audience, defining the brand mission, researching competition, creating value propositions, determining brand guidelines, and effectively marketing the brand. The role of the marketing department in fostering brand equity through promotional techniques is also discussed. Furthermore, the report explores brand extension strategies and analyzes the organization's brand portfolio, highlighting the techniques used for measuring and managing various brand-related tools to enhance brand value. The report also discusses the applicability of brands in business and provides examples within the organizational context of Tesco, examining how they manage their brand hierarchy and portfolio to meet consumer needs and maintain market competitiveness.
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Brand management
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Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Introduction..................................................................................................................................1
Main Body ..................................................................................................................................2
Conclusion...................................................................................................................................3
TASK 2 ...........................................................................................................................................4
Analyse the organization brand portfolio strategy.......................................................................4
Hierarchy management of brands within organizational brand. .................................................5
Analysing the strategy used for managing the equity of brand...................................................6
TASK 3............................................................................................................................................7
Evaluation of the brand ...............................................................................................................7
TASK 4............................................................................................................................................8
Techniques used for measuring and managing various tools .....................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12
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INTRODUCTION
Brand management is the approach that will be used to increase the awareness among the
people regarding the availability of brand in the marketplace. Effective branding will help in
increasing its value among the customers (Atwal and Williams, 2017). This will help in
improving market share and position of brand. There are different techniques that is being used
to aware people such as through online marketing.
This study will emphasize on Optimum Impression Ltd. Company. It is an advertising
company.
Report will mainly focused on brand and brand equity, stages that is being used in
building brand and role of marketing department in creating brand equity. It will also include
brand portfolio and its strategy to survive in the market (Buil, Catalán and Martínez, 2016).
Furthermore, it will include brand extension and measures that will be taken to improve brand
value in the marketplace.
TASK 1
Introduction
Brand refers to the product or services that is being provided to the customer. Brand
always has unique characteristic. Every brand is having its own quality and features that will
distinguish it from other product in the marketplace. Optimum Impression Ltd. Is and advertising
company that promote its brand through online marketing. It has certain logo that is being used
by the specific company through which the product belong. Every brand is designed with some
trademark that will facilitate them to become popular in the market (Dessart, Veloutsou and
Morgan-Thomas, 2015). Most of the consumers are buying product through its brand name so
for some brand their name is sufficient to sell product to its customers.
Brand equity provides value to the brand that will help in attracting more customers
towards the product and services. It provides additional value that will help in providing
consumers unique products and services from the other competitor in the market. It is developed
by measuring the customer's experience with the brand. Brand equity is having a positive impact
when customers are loyal to it. If it is using at consistent rate then its equity will be increased in
the market.
Stages of building a brand in the market
There are six steps that will help in building brand are as follows:
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Determine target audience:- This is the first stage of branding that will help in targeting more
customers towards it. In this step company is identifying its target customers that will help in
building brand in the marketplace.
Defining brand mission:- In this step Optimum Impression Ltd. Is setting up its mission
statement that will help in building brand in the market. This also helps in building various
channels through which brand can be defined into the market.
Research Competition:- This will help in analysing the competitors who are offering different
product and services to its customers (Du Preez and Bendixen, 2015). This will help in focusing
on the brand that helps in creating competitive advantage in the market.
Create Value Propositions:- This will help in creating a difference between the brand and make
it unique as compared to other products in the market. Through this a business can be set apart
from other competitors in the market.
Determining brand guidelines:- This will emphasize on the brand guidelines through which
company will enable to interact with its customers easily. This will help in making consistency
among the different channels of the company.
Market your brand:- In this proper strategy is being made to set brand in the market. New
channels will be identified that will help in creating more channels in the market. This stage will
help in building more brad awareness.
Role of marketing department
Marketing department will help in building brand equity by promoting product and
services into the marketplace. It uses various promotional techniques that will help in advertising
product in the market. It provides flexibility so that product can be easily marketed.
Main Body
Brand extension is the process of introducing new product in the market with many
information contained in it. This is the part of the doing marketing that will emphasize in
building more product and services existence (Ertimur and Coskuner-Balli, 2015). As optimum
impression Ltd is doing its advertisement of product and services online by using different
strategies. This will help in increasing visibility of the brand that attract more customer's towards
the brand. Through this brand value of the product will increase. Brand extension will help in
increasing the product that will help in creating brand value that will enhancing product and
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services. There are different strategies that is being used to verify various opportunities that will
help in building various forms in creating brand value.
Brand extension will be strengthen by promoting products and services into various
sector in the market. There are different methods that will help in creating various forms of
techniques that will be used in facilitating brand extension. Research is being done to analyse the
different factors of the market that will help in utilizing different resources of the company. As
optimum Impression Ltd will expand its brand name by using different online technique that will
be part of the market. There are so many reason that will help in creating brand awareness in the
market. Satisfying the customer needs and wants is the primary aim of company. This will help
in providing quality product and services to its customers. This will also help in improving
various things that will be included for the various purpose in the market.
Conclusion
Branding is the important tool for doing marketing because it build trust among the
people regarding the quality and quantity of the product. Trust helps in building brand name as if
consumers are loyal to the particular brand then that will be beneficial for the company to grab
more customers. It also helps in building recognition regarding the brand so that company have
to put less effort in selling its product and services in the market (Heding, Knudtzen and Bjerre,
2015). Targeted customers will help in improving brand image as it will help in providing
various channels that will be more beneficial for the company. It motivates employee in the
company like if the brand is strong that will help in getting motivated employees as they are
already efficient to do work.
f the brand is strong that will help in bringing more efficient employees to do work. It
will help in increasing revenue for the company as word of mouth technique will also help in
creating brand awareness of the product in the market. If the product is being made by seeing the
customer need and want then it will help in creating branding image in the market. While making
any product it is to be set in mind the customer needs that will help in satisfying it. By making
customer emotional that will attract them to buy product or services of the company. For
Optimum Impression Ltd this will be helpful to introduce the new product and services into the
market (Högström, Gustafsson and Tronvoll, 2015). There are different strategies that will play
significant role in bringing out brand in the market. It is important to have customer in mind that
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will help in increasing profit as well as wealth of the company. There are few techniques that
will creating a brand image and increasing value in the market.
M1 Applicability of brands in the business
Brands can be applicable in the market by promoting product through different marketing
strategies that is being followed such as through advertising, promotional event or by organizing
campaigns that will bring awareness among people regarding the availability of brand in the
market.
M2 Examples in the organizational context
There are different competitors that are available that will able to capture the market
share in the future. For example: Optimum impression limited is an advertising company and its
other competitors will grab the market share that will lower down sales of it. Therefore, different
techniques that will be helpful for increasing market share in the future. So, it is necessary to
apply strategic technique that will help in earning more profit in the market.
TASK 2
Analyse the organization brand portfolio strategy
The brand portfolio consign to an umbrella style that means there are different brands
which operates under brand lines of a particular firm. There main functions to serve the product
and satisfy the needs of different market segments (Iglesias, Markovic and Rialp, 2019). In other
words, brand portfolio is included all the brand product that is offered by single organization for
sale the products to fulfil the requirements of consumers.
Brand portfolio strategies.
Tesco is a British multinational groceries and general merchandise retailer with
headquarters in United Kingdom. It is the third largest retailer in the worldwide. Firm use the
different strategy to expand their business in all over the world. In current trend, their have many
brands and organization live in a world of brands. Corporations, products, celebrities, politicians,
nations, tourist destinations, film, and more, can now all be looked at as brands (Xi and Hamari,
2019). Today, many organizations suffer from brand recognition. Therefore, to expand the
business in worldwide Tesco keep producing high qualitative products to set the brand portfolio
strategies they give full consideration to how this strategy affect their overall brand portfolio.
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A Tesco brand portfolio is very large, and they considered the good brand strategy
decisions such as whether to introduce the brands and sub-brands, elaborate the brand into
another product category, decide a premium price low and high prices of product, Target the
market according to the brand value, enter into new market and more. Therefore, to optimize the
high profits Tesco set their brand strategy according to the needs of customers.
Tesco used the brand Architecture Models strategies
This model can be defined as that this is the system firm used to organize their branded
products and service in different categories that help to customer that they easily access and
relate with the brand. This model helps to identify that how brands differentiate with each other
and which types of categories is suitable for the brand.
Hierarchy management of brands within organizational brand.
Tesco manges their brand by managing the Hierarchy management of brands. Thus, to
identify the brand firm uses the Hierarchy management. It is also called Architecture model.
Define brand roles - Tesco describe their brands in different categories which help to identify
the specific brand value. Therefore, Tesco introduce many brands to keep up with changing
demands of consumer. Thus, to attract the consumers Tesco introduce the portfolio in fewer
brands that means to select the few brands in the portfolio it can reduce the chance of Confusion
among the consumers. Therefore, to set the brand portfolio effectively it can lead to enhance the
customer base(Paul, 2019).
Tesco used this brand portfolio. This is the best strategy to set the low prices on the product.
Tesco launch their new brands in the market with low prices because in the market there are high
price war and this decision leads the demand of the barded product.
ď‚· Desserts, sweet biscuits, chocolate, cakes - Mrs Molly's Treat Store
ď‚· Fresh and frozen ready meals, pasta, pizza and fresh foods - Hearty Food Co.
ď‚· packaged fruit, vegetables and pulses including rice and oats - The Growers Harvest -
ď‚· kitchen cupboard 'essentials' such as canned food (excluding fruit and vegetables which is
branded as The Growers Harvest), tea and coffee, cereals, drinks, baking goods - Stockwell &
Co -
ď‚·Bread and morning goods - H.W. Nevill
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ď‚· cooked meats, coleslaw, dips - Eastman's Deli Foods
ď‚· dairy products including milk and cheese - Creamfields
 Frozen meat - Butcher’s Choice
ď‚· Health and beauty products - Tesco Essentials -
Thinking long term -
Tesco managing Their brand portfolios by managing the resources' and budgets and that is often
are challenged because resource allocation is difficult because this stage is takes lot of time as
well as is take more funds (M'zungu, Merrilees and Miller, 2019). Therefore, to managing the
resources in few costs it can lead to drive future profits and growth. The brand portfolio manager
must use the best strategies and funds to balance the budget profit and loss with generate a long-
term income value. Thus, Tesco use the Brand valuation tools which can help to making the best
decision such as -making process, ensuring that the most valuable brands are kept and given a
greater share of resources. Therefore, Tesco can also use the qualitative approach this is the best
and effective approach for assessing the brand portfolio, so this model helps to makes the long
decision which helps to achieve the long term objective of the business makers keep long-term
business goals in mind.
There are three brands Architecture ; Master band, endorsed and individuals.
The individual structured of Tesco
For example,
TESCO
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Mrs
Molly's
Treat
Store
Hearty
Food Co
The
Growers
Harvest
H.W.
Nevill
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Analysing the strategy used for managing the equity of brand
To improve and managing the brand equity Tesco can used different ways which boost their
brand equity.
ď‚· Tesco Improve the product quality and service which can enhance the customer base.
ď‚· Tesco identify the competition, and then they implement the strategies in the bushiness to
enhance the quality of brand (Berndt and Hollebeek, 2019).
ď‚· Firm improve their brand image by using the advertising strategics. This strategy leads to
enhance the demand of the product.
ď‚· Organization want to enhance the brand equity, so they identify the needs and want of
customer and then make product according to the requirements of customer.
M 3 Analysing portfolio management, brand equity and brand hierarchies using appropriate
models and theories.
As per the views of Pinheiro and et.al., (2018) portfolio management can be defined as
science and art of making decisions related to the investment mix and policy and matching of
investment to company;s objectives and also allocating assets in the organisation and balancing
risks against the performance. Company should ensure that there is proper brand portfolio
strategy adopted by the organisation. First Tesco should make sure that each brand of the
company has got well defined role to play within the market with a context that it is expected to
contribute. Tesco should try to identify various strategic brans which will play an important role
in supporting Tesco's business to produce platforms in the future. Company should also try to
understand roles of sub-brands while deciding how to brand-new offering. There should be
intimate connection between business strategy and brand portfolio strategy which will help the
company in specifying the product market growth directions and value propositions associated
with it.
As illustrated by Thanki, Govindan and Thakkar, 2016 Tesco can use various models for
presenting their brands, brand hierarchy is also know as brand architecture and it is not always
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easy strategic factor for the company. Most of the business owners don't think about organising
their bands. There are three type brand hierarchy model which can be used by Tesco but the best
one is branded house which has the parent brand that is closely associated with child brand.
Being a retailing store this structure will be best for the company. Another brand hierarchy which
will suit for Tesco's brands is House of brands, where a parent brand owns as well as manages
various sub-brands.
As opined by Sharma Davcik and Pillai, 2016 brand equity model which can used by
Tesco is AAKER Model, which sees the brand identity that consists of 8 to 12 elements that fall
under the four perspectives. These four perspectives includes brand as a product which consists
of product scope, quality, value of product, product attributes etc. second is brand as an
organisation which consists of local workings versus global activities and organisational
attributes. Third is Brand as a person that consists of consumer brand relationship and brand
personality and fourth one brand as a symbol which consists of metaphorical symbols and brand
heritage.
TASK 3
Evaluation of the brand
Brand leveraging refers to the strategy that is being used to when new product of the
company is going to be introduced in the market so for that there is need of existing product that
will be available in the market already. It helps in providing positive attitude towards the brand
that will help in gaining more advantage in the market. As there are already existence of the
product that will help in providing various forms of product (Iglesias, Ind and Alfaro, 2017).
Tesco is also using brand leveraging strategy that will help in expand market share of the
company. Strengths of the brand that can be leveraged are as follows:
Brand Extension:- It refers to building the brand name in the market that will facilitate in
providing new product in the market with different categories that will be helpful for the
business. As in Tesco brand will be expanded by introducing new product that will be beneficial
for the company. It is important to note that every business needs to be expand its market in the
future course of action.
Line extension:- New product line will be created in involving various product that is being
used in the company. In this new product is evolved into the market with the same brand. As
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Tesco have to introduce new product into the same product line of the company. This will help in
increasing consumer attraction towards the brand.
Brand Stretching:- In this company's brand will be stretched by using different product that will
be including in the market as there are so many segments that will provide various forms that
will lead to increase the quality of the product. Brand can be stretched through various purpose
by providing them proper facility to the consumer.
As Tesco is selling product that will be providing them proper utilization of the resources
in the company. Its strength is that it the third largest chain of supermarket in the world that help
in facilitating various brand strategy that will be more facilitating in providing various facilities
that is being very important that will be more useful for the future course of action.
Weaknesses
As the company is dealing in the supermarket chain and there are so many competitors
that will bring competition in the market. Tesco is the leading brand in the United Kingdom so it
has so many competitors (Kelly, Jugenheimer and Sheehan, 2015) . It is using low cost strategy
that will reduced the profit of the company. Its operational performance is not so good as
operating cost is more as compared to other costs in the company. As the product of the Tesco is
of high price that will lead to decrease the purchasing power as consumers do not have much
disposable income that will decrease its profit. Its major weakness is that it is suffering from the
financial problem that will lead to decrease its profit (Tatoglu, Sahadev and Demirbag, 2018).
As its operating cost is more that will disrupt the operations in the other country. Competition in
the different firms will lead to decrease the profit.
Collaborative and agreements
As Tesco is involving with other firms and collaborate with them to expand its business
into other countries. This will help in facilitating Tesco in providing different services to the
consumers. Collaboration with different countries will help in achieving success for the future. It
is important to become collaborative that will be more beneficial in providing various aspect of
the company (Miller and Mills, 2017). These agreements my help in introducing various product
and services to its customers. There are so many collaboration that will provide a change in the
company. This collaboration with other country will help in growing at more faster pace in the
market. Thus, collaboration and agreement with other countries will be helpful for the future
course of action.
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M4 Techniques used to leverage and extend brands
There are different techniques that will be used to extend brand in the market include
such as through brand licensing as it is useful in evaluating different perspective of business for
the future course of action. All these techniques will be beneficial for extending brand in the
market for the future. By organizing campaigns and seminars or promoting through market
strategies in the marketplace.
TASK 4
Techniques used for measuring and managing various tools
Brand Value:- Brand value refers to the term that will help in increasing brand awareness
among the customers. This will help in promoting product and services in the market. There are
different strategy that will be helpful in bringing brand in the market. For example:- Marks and
Spenser is one of the brand that will facilitate all types of product to the customers. It is
promoting its product in the market through online channels of distribution that will help in
getting more market share in the company (Ofek and Schwalb, 2018). As Marks and Spencer is
the famous brand in UK that will facilitate more to the people. Its brand value is good known in
various parts of the country. Similarly, Tesco is the another example that will known for its
brand among the consumers. As people re taking its product without seeing the price and quality
as they have trust on the company.
Brand Awareness:- Awareness will be done by organizing different promotional activities that
will help in providing best quality product to the customers. awareing people about the
availability of brand helps in attracting more customers towards the brand. For example:- Cad
bury is doing its promotion through television by making emotional advertisement that will help
in creating awareness among the people. By seeing advertisement consumers are becoming
emotional and go for buying the product and services from the market. It is important to aware
consumers regarding the existence of that product. Sainsbury is the another example that will use
different techniques to aware people by organizing campaigns in the Malls or at public place so
that more people are involved into it and get aware about the product (Osuna RamĂ­rez, Veloutsou
and Morgan-Thomas, 2019). Hoardings and banner will published and hang on the public places
so that people are aware of it and attract towards the product. Some companies do not have to
aware people in public places as they will facilitate them using the application of that company
that will provide notification to consumers and they get to know about the product and services.
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If consumers are not aware what is going into the market then they will not be consuming the
product that will be available in the market.
Market Share:- Every company wants that it has larger market share that will help them in
attracting more customers towards the company. If there is more existence in the market then
company will be growing faster in the future. Larger share in the market will help in analysing
the various aspect of company in the market (Pappu and Christodoulides, 2017). For example:
Tesco is the well known company that has the largest share in the market that will provide many
services to its customer. This will help in emphasizing various forms that will lead to increase
market share. It is the leading brand in the United Kingdom that will help in facilitating various
products to the customers. This will be beneficial to provide various sectors that will be more
efficient to gain larger market share in the company. As Hilton hotel is the another example that
will have larger market share in the hospitality sector. This brand is providing luxury services to
its customers that will be beneficial for the company. This is also an important part for the
company in having larger market share. It helps in gathering more data in the company. This will
provide a huge part in the market that will facilitate helps in providing share in the market that
will be included in the market.
Consumer Attitudes:- Company have to make product and services based on the consumer
preference and attitude. This will help in satisfying needs and wants of the consumer. As it is
very important to satisfy consumer as they are the people who are the income source for the
company (Rauschnabel and et.al., 2016). Nowadays, consumers are the king of the market. So
company have to made product accordingly this will help in getting more customer attraction
that will be more beneficial for the company. While addressing the consumer attitude company
have to make product. For example: Morrison is also a brand that will provide them facilitating
easy availability of product and services in the marketplace. It made products according to the
consumer taste and preference that will be beneficial for the company. This will help in
providing various forms of marketing strategies that will helpful in fulfilling the various aspect
of the company. There are many ways that will be more conscious about the consumer taste and
preference of the company. There are many factors that will be affect consumer attitude that will
provide them quality product (Renton and et.al., 2015). It is necessary to evaluate the consumer
preference that will be more beneficial for the company. It is important that consumer behaviour
will be helpful that will providing various aspect of the market.
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Purchasing Intent:- Consumers are purchasing the product when it will provide quality product
that will be helpful for the company. It is important that there are so many offers that is running
into various strategies that is being provided to the customers. It is also an important part of the
company that will help in providing various forms that will be facilitating more opportunities to
the company. If consumers are come with the intention that they will have to buy the product or
services that will facilitate the consumer more and providing the best quality services to the
consumers (Rosenbaum-Elliott, Percy and Pervan, 2015). It is important that consumer is having
purchasing intention from the market. For example:- John Lewis is providing discount to its
regular customer's that will help in attracting more customers towards it. Through this more
consumers are attracted towards the company that will facilitating them in providing various
aspect of the company.
M5 Techniques for measuring and managing brand value
There are different techniques that will be used in measuring brand value such as
identifying attitude of consumer that will help in gaining idea regarding their taste and preference
Purchasing power can be determine by its income and also through customer's choice.
CONCLUSION
As per the above study it can be stated that brand value and equity plays an important
role in the marketplace that will facilitate in providing various aspect of the marketing. There are
so many people that are more beneficial for organizing various activities that will introduce new
product in the market. Branding is the efficient tool that will facilitate in providing brand image
of the company. Brand portfolio is also an important task that will enhancing business for future
growth. There is a hierarchy that will be followed in building brand portfolio that will help in
creating various aspects of the company. Brand extension is the another technique that will help
in introducing new product in the existing market. Brand leverage will help in gaining
competitive advantage by introducing new product of the same product line. There are different
measures that will help in creating brand value, awareness and market share. From the above
study it can be concluded that various forms brand equity is being used to promote product in the
market.
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