Brand Management Strategies for Optimum Impression Ltd

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Brand Management
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Table of Contents
Introduction....................................................................................................................................................3
Task 1.............................................................................................................................................................3
Introduction....................................................................................................................................................3
Main Body.....................................................................................................................................................3
Conclusion.....................................................................................................................................................5
Task 2.............................................................................................................................................................6
P3 Analyze different strategies of portfolio management, brand hierarchy and brand equity management.6
M3 Critically analyze portfolio management, brand hierarchies and brand equity using appropriate
theories, models and frameworks..................................................................................................................7
Task 3.............................................................................................................................................................8
P4 Evaluate how brands are managed collaboratively and in partnership both at a domestic and global
level................................................................................................................................................................8
M4 Critically evaluate the use of different techniques used to leverage and extend brands.........................9
Task 4...........................................................................................................................................................10
P5 Evaluate different types of techniques for measuring and managing brand value using specific
organizational examples...............................................................................................................................10
M5 Critically evaluate the application of techniques for measuring and managing brand value in relation
to developing a strong and enduring brand..................................................................................................12
Conclusion...................................................................................................................................................13
References....................................................................................................................................................14
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Introduction
Branding is considered as an essential aspect that can lead businesses to an impressive level of success. It
provides descriptive learning regarding the overall experience of the customer. Considering branding and
advertising, businesses can easily improve performance standards (Dinnie, 2015). In order to have an
effective understanding in regard to branding, the Optimum Impression Ltd has been referred to as an
organization. The study will be offered to learn with respect to the significance of branding and
marketing. Collaborative marketing activities are also being discussed so that branding aspects can be
well maintained. Different strategies and models will also be evaluated in the study in order to consider
branding development.
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Task 1
Introduction
Branding is an essential section for business entity because it assists in improving the success criteria.
Brand equity is considered as a phrase used for the betterment of marketing activities. It allows having a
description of the brand name. In other words, it can be said that it is a commercial value that assists in
driving consumer perception properly so that branding activities can be managed significantly (Okonkwo,
2016). Product and services can be sold effectively under a single brand name so that better opportunities
can be attained. The concept of branding can be referred to properly by having an effective recognition in
terms of product, service, person and company. It holds characteristics in terms of name and symbol so
that the image can be created in the market. Competitive edge can also be improved significantly so that
market differentiation values can also be promoted for Optimum Impression Ltd (Govers and Go, 2016).
Different aspects of branding also need to be referred properly for better opportunities in the market.
Classification of the key values can be as situation assessment, communication, value, positioning, image,
culture and brand personality. It is also significant to have proper brand planning as it helps in framing
strategy. Brand research and core values also need to be referred adequately so that corrective measures
can be taken into account by the management of Optimum Impression Ltd. They are considering the
branding strategies the better recognition can be attained in the market (Wheeler, 2017).
Main Body
Branding is considered as a factor that helps the customer to recognize the brand or company in the brand.
Through effective designing of combined values like name, term, sign and design business recognition
can be improved. Branding is significant for companies because it helps the buyer to have identification
of product and services. It means the sales of the company can be boosted and leads to sustainable
development. Marketers can also be determined through the application of the branding strategy. It assists
in meeting goals and objectives and ensure that more customers are being attracted (Davis, 2017).
Branding also impact positively on the recognition of a company that helps in creating better awareness.
For example, Optimum Impression Ltd currently does not have effective designing of jingles of the
company. The proper logo is also not being framed by the company that impacts the overall development
of the brand. While it is compared to the Tesco, it can be stated that the company is focused on the
effective application of branding. The adequate logo is being framed by the entity that helps customers to
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get recognize the brand. It indicates that if branding aspects are not accurate, then an issue in regard to
brand identification has been affected (Ottman, 2017).
Branding and marketing tools application helps in building trust so that development in terms of
sustainability can be attained properly. Communication with the target audience can also be improved so
that sales of products and services can be advanced. It also helps in the decision making of a business
entity regarding practices that assist in managing a competitive edge. Brand equity can also be boosted
and Optimum Impression Ltd can focus on brand perception (Franzen and Moriarty, 2015).
Key components of the brand strategy include the factors like design, value proposition and positioning
statement. Through maintaining the standards, customer satisfaction can be boosted and ensure that
regular basis opportunities are being attained. Monitoring of such measures is also essential so that
overall branding aspects can have improvement. Marketing values are also essential in order to ensure
that issues are being resolved (Biswas and Suar, 2016). Better advertising of a brand can be done by
having an application of positioning statement. Quality standards can be boosted through the marketing
value proposition.
In order to have sustainable opportunities, the management of Optimum Impression Ltd needs to consider
the Aaker model. In this, marketing and branding activities can be classified in different factors such as
awareness, loyalty, quality, associations and other proprietary assets. It means for the better promotion of
brand the awareness about the brand needs to be created. Also, the understanding of customer perception
towards the brand must be reviewed (Punjaisri and Wilson, 2017). Different factors that require attention
in the branding must be evaluated for better development of the strategy. The loyalty of the brand as well
as customers needs to be identified. Decisions must be taken according to loyalty identification because it
also helps in managing the risk. Managers of Optimum Impression Ltd must determine the quality of
products and services. Reasonable targets need to be set out so that technical and other skills can be used
in an adequate manner. Monitoring regarding quality must be accurate on a daily basis to improve
standards. On the basis of association with team members, the proper action needs to be taken so that
issues can be resolved (Van den Berghand Behrer, 2016). Suitable governance framework needs to be
framed for better branding and marketing. Training also needs to be provided so that the skills
development of branding can be promoted. Other standards must be referred by Optimum Impression Ltd
to ensure the development of branding. Reinforcement of branding and marketing activities is also
necessary because it facilitates in to identify the issues. From early-stage implications, the risk and issues
must be determined so that essential changes can be implemented. It will boost the efficiency of branding
and marketing strategies because of activities reinforcement (Mumby, 2016).
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Channel relationship improves assist in boosting the competitiveness and ensure about better branding.
Effective support of differentiation values will facilitate the managers of Optimum Impression Ltd to
create a unique brand image in the market. It means the market share and sales of the brand can also be
improved. Other values like trademarks and patents consideration are also essential for efficient framing
of branding strategy (Hankinson, 2015). It helps in enhancing the brand equity so that influence on
customer buying process can result in positive outcomes.
Conclusion
According to statements, it can be concluded that new customers can be attracted towards the brand by
having branding of products and services. It facilitates to create awareness of the brand and its products
that attract customers. Optimum Impression Ltd can focus on the knowledge and desire of the client so
that branding activities can be framed accordingly. Branding is an element that can boost opportunities
for the company. Customers can easily be targeted through using the brand name, symbol and other
marketing factors (Kladou et al. 2017). Brand perception and values are two components that can boost
the effectiveness of positioning strategy. Business goals can be accomplished because it assists in
targeting customer satisfaction. Differentiation consideration also improves the branding and influences
the preferences of customers.
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Task 2
P3 Analyze different strategies of portfolio management, brand hierarchy and brand equity management
In order to have better success, the portfolio management must be referred by Optimum Impression Ltd.
It can be boosted through the application of strategies regarding brand management. Through the
application of portfolio management the services offered by Optimum Impression Ltd can be managed
adequately so that objectives can be met. Reference of the marketing mix is also significant for the
company so that the effectiveness of portfolio management can be improved. Classification of marketing
mix factors can be as a product, price, place and promotion (Lievens and Slaughter, 2016). Decision
making of portfolio management must be according to the identification of such factors. It is referred to a
practice that allows developing a system regarding branding. Presentation of the brand image can also be
improved through the marketing mix that assists in managing the portfolio. For example, the portfolio can
be managed properly by having an effective sharing of information. It has been noticed that the company
must have a shared of information regarding name, description, price etc. properly so that objective can
be attained. It has been witnessed that brand equity can be managed significantly through the effective
designing of the logo. Services offered by Optimum Impression Ltd must have a logo and jingle ( Theurer
et al. 2018).
For effective consideration of the portfolio management, the business firm like Optimum Impression Ltd
needs to consider the application of competitor's analysis. Application of standards is essential properly so
that goals and objectives can be accomplished. Understanding about the competitor's product line is also
essential because it helps in identifying the market situation. Decisions about portfolio management must
be according to the competitor's product line so that sustainability can be attained (Hajli et al. 2017).
Learning of the factors related to the rivals practice assist in the decision-making process. Diverse values
are associated with the brand in terms of the internal and external environment. It means the management
of Optimum Impression Ltd must consider these values so that objective can be met. Branding and
product management standards can also be enhanced. Decisions regarding differentiation can also be
taken into account so that sustainable opportunities can be attained.
By having an improved focus on designing new policies the issues of portfolio management can be
resolved. It assists in meeting the standards and leads the business firm to an impressive level of success.
Pricing decision and segmentation also need to be advanced so that corrective measures can be taken into
account. It assists in meeting the decision-making standards and product management can be improved
(Callan et al. 2016). External analysis can be referred by Optimum Impression Ltd to have better
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improvement in hierarchical portfolio management. Competitive edge can be attained significantly and
leads to better performance. For effective management of the hierarchical portfolio, the company needs to
focus on bottom-up portfolio selection. It will assist in hierarchically managing different services and
products. Along with this, multi-level investment decisions also need to be referred by Optimum
Impression Ltd so that risk can be reduced.
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M3 Critically analyze portfolio management, brand hierarchies and brand equity using appropriate
theories, models and frameworks
As per the view of the Brown (2016), different models can be considered by management of Optimum
Impression Ltd so that portfolio management can be improved. It has been witnessed that sustainable
portfolio management can be attained through the promotion of brand equity. The overall performance of
Optimum Impression Ltd can also be boosted through referring various standards of brand management.
Bevan and Wengrow (2016) have contended that the house of brands is a strategy that can be employed
by management so that the portfolio can be managed. It is a strategy that facilitates to improve the brand's
performance. In this, different services can be introduced by the company so that branding can be
boosted. The company can provide different forms of marketing services at different prices. Also, the
same kind of services with few differences and diversified names can be offered by Optimum Impression
Ltd. It will also attract the clients more adequately and ensure factors regarding brand hierarchy are well
managed.
Other than this, the Ashworth and Kavaratzis (2016) have argued that sub-brands can also be introduced
in the market to make sure that portfolio management is accurate. For example, Optimum Impression Ltd
can introduce its subsidiary firm in the market. It will improve portfolio management, as well as market
share, can be improved. Through the effective application of portfolio management practice, the customer
base can also be boosted. According to the Seyedghorban et al. (2016), managing spot brands is also
significant so that sustainability can be improved. It means the customers can be convinced properly and
leads the business firm to an impressive level of success. Motive and role of the brand in the market also
need to be analyzed so that potential customers can be attracted. Competitive advantage can be attained
through improving the quality of product and services. It means the Optimum Impression Ltd needs to be
offer high-quality services at a low cost so that brand image in the market can be enhanced.
Tsai and Wang (2017) have contended that the hierarchical design must be referred by a business entity
so that operational activities effectiveness can be improved. It has been witnessed that the design of the
logo must reflect the working of the company so that market presence can be improved. Structural values
must be accurate so that sustainable opportunities can be attained.
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Task 3
P4 Evaluate how brands are managed collaboratively and in partnership both at a domestic and global
level
Brand management is one of the most critical tasks for every business firm and improper consideration of
standards might affect the overall performance. Levels of efforts needs for brand management are also
high. Customer's engagement is referred to a standard that assists in the effective management of the
brand. It means Optimum Impression Ltd need to ensure that the customer's involvement is being referred
adequately. It also indicates that proper understanding of the customer needs is also significant so that
objectives can be attained (Balmer et al. 2016). Decision making of brand management must be as per
customer needs identification. Effective collaboration of activities is also essential so that the product line
of Optimum Impression Ltd can be managed. Responsibilities allocation to brand management activities
must be accurate to improve performance. Workplace environment also needs to be evaluated so that
judgments about brand management can be accomplished in a standardized manner.
It is also necessary for Optimum Impression Ltd to ensure that team working and partnership working is
being promoted so that business activities must be managed. Situational decisions must be taken from
experts so that the work environment can be boosted (Mehrpouya and Willmott, 2018). Administrative
and commitment also need to be improved so that brand association factors can be well maintained. It
will allow improving the procedure because work awareness among members can be boosted.
Domestic market values and international market aspects are different, so the procedure for both
conditions is different. For having a better expansion and awareness in the domestic market, the Optimum
Impression Ltd can focus on framing its own branding team. In this, local advertiser’s assistance can also
boost the collective working so that standards can be enhanced. The brand image of the company can be
improved in a significant manner because collaborative working enhances the standard working (Balmer
et al. 2016). Domestic scale branding can be well maintained through collective working. Relationship
with local clients needs to be managed properly so that the business entity can attain the success factor.
In the context of the international market, it can be said that company like Optimum Impression Ltd can
easily have contract and agreement with a various international brand. It means international marketing
and branding channel need to be designed so that branding at the global market can be accomplished.
Strong relationship management practice needs to be framed so that reliance on suppliers can be
improved (Callan et al. 2016). Maintaining supplier relation is also essential to meet the objectives and
improve performance.
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In addition to this, it can be said that the global market is having a high level of competition, so the
strategic formation is essential. It is necessary to have better designing of strategies that can analyze a
competitor's product line and performance. It means the manager of Optimum Impression Ltd must take
decisions according to rivals. It indicates that management needs to ensure product features. By
considering the service features offered by rivals the company must introduce unique features (Hajli et al.
2017). It assists in attracting customers and ensures that success is being gained. In order to resolve the
issues at the global market the management must make sure that professionals are well skilled. Proper
knowledge about the branding and marketing activities among members will allow improving the
performance. Market research is also a practice that can be employed by Optimum Impression Ltd for
better identification of needs. It means the strategies of branding must be framed according to the results
of market research. Product and services features can also be transformed accordingly because it helps in
attaining sustainability (Theurer et al. 2018).
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