Brand Management Strategies: Optimum Impression Ltd. Case Study

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Brand Management
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Contents
Task 1..........................................................................................................................................................3
Task 2..........................................................................................................................................................7
Task 3........................................................................................................................................................12
Task 4........................................................................................................................................................17
References.................................................................................................................................................22
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Task 1
Article
Brand is power
Introduction
This article provides a view about the use of brand and brand equity in the Optimum impression
Ltd. A brand is a symbol, name or logo which the company uses to make their products different
from the others, the Brand premium is the value product that a company gets from their products
by making them superior, reliable and memorable. Optimum impression Ltd. Used several stages
for making their brand successful such as the determination of target audience, defining the
brand mission, researching about the competitions, Creating value propositions, determining
brand guidelines and finally making the brand. This article reflects the role of the marketing
department in creating brand equity such as the role of defining and managing the brand,
organizing the campaign for marketing, producing promotional and marketing material,
observing and managing the social media and conducting customer and market research.
Explanation
Case study
Coca-cola is an old hat at the global level, between the years 1980 to 1990 the company first
came to the global stage. Messaging and standardized product resulted in a backlash against
American imperialism. To tackle this situation Coca-cola introduced a marketing strategy in the
year 2000 which known as ‘think local, act local’ as they aimed to increase the local sensitivity.
After that time Coca-cola improved its strength and became the most popular brand in the world.
The key strategy for the company’s success was focusing on enduring the values of happiness
and sharing as well as the messaging localization and products. For example, during the football
world cup, Coca-cola featured in the international company’s homepage alongside the cultural
references and the local celebrities.
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Strategies to improve brand equity
There are several strategies used by the Optimum impression Ltd. to strengthen their brand
equity which is as follows:
1. Awareness building – Optimum impression Ltd. built the awareness about its brand to make
sure that the customers identify their brand and see the products in the way that the company
wants (Abimbola, et. al., 2012).
2. Communicated the meaning of brand – Optimum impression used the strategies to
communicate their brand’s meaning to the customers as the brand means the performance and
what it stands for is imagery. Performance means how the company’s product meets the desire of
the customer and imagery means the psychological & social aspect of this.
3. Reshaping the thinking and feel of the customer about the brand – Optimum impression Ltd.
used this strategy as they know customers are impacted by the brands through feeling and
judgments in which feeling should be positive such as the excitement, fun, warmth, self-respect,
etc. and judgment is related to the things like superiority of the brand against the competitors,
credibility, quality, etc (Business owner’s playbook, 2019).
4. Building a relationship with the customers – Optimum Ltd. has applied this strategy as this
the most difficult and most powerful strategy for brand development. Successfully applying this
strategy helped the organization to form a psychological bond with your brand, this makes them
feel attached to the products and make them purchase again and again. Customers feel the sense
of community with the company’s representatives and the other consumers of the product (Buil,
et.al., 2013).
Brand extension strategy
Optimum impression Ltd. used this strategy to improve its branding. They took the help of the
organization whose brand was already popular because this strategy involved the use of a brand
that has already been established, the new products can be related or unrelated to the established
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brand products. A successful organization helps the other to launch the products in a new
category more efficiently. The established brand which helps in the extension of the brand is
known as the parent brand. For example – Nike's brand is mainly used in the product of the shoes
but it is extended to the golf equipment, basketballs, sunglasses, football, etc (Albrecht, et. Al.,
2013).
Reinforcement of brand
For maintaining the brand equity in the market Optimum impression uses the Brand
reinforcement strategy which involves keeping the brand alive among the new and the old
customers. This strategy applied by the organization which shows what are the products and
benefits under the brand and how it fulfills the demand of the customers. How this brand is
different from the others and enabling the customers to make unique associations in their mind
(Business owner’s playbook, 2019).
This strategy involves observation of the products at all levels of the product cycle such as the
growth stage, introduction stage, decline and the maturity stage which helps in finding the
changes in the customer’s preferences and tastes.
Optimum impression Ltd. used this strategy to make customers remember about their products
and their advantages. To fit the brand in the customer's mind several types of research,
innovations and creative marketing programs are made.
Brand revitalization
Optimum impression Ltd. used this strategy as their products reached the product life cycle
maturity stage and the profits also fell. They attempted this strategy as it helps in securing the
equity source such as the customers and bring back the products in the market.
Even after the good reinforcement strategy, a product must be revitalized, the reason being some
factors are uncontrollable such as the changes in the preferences and the taste of the customers,
invention of the new technology, competitions and the legal requirements (Business jargons,
2019).
Overcoming brand crisis
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Optimum impression used various ways to manage the brands during the crises which are as
follows:
• Plan – The company has drawn plans to deal with the crises. Crises planning should be done
whenever the firm is not so busy as it takes years to build the reputation in the market but it takes
only hours to destroy that reputation so it is very important to make plans about the crises.
• Acknowledgment of the issues and apologizing – whenever there is any duration of the crises
Optimum impression Ltd. managed these crises by keeping updated the customers in every issue
they get because no communication in this duration can harm the reputation of the company and
leads to the void comments from the customers.
• Getting outside help – whenever the Optimum Ltd. faced any critical crises they took the
outside help as this supports the crisis team and makes sure that nothing is overlooked
(Abimbola, 2012).
Conclusion
Branding is a critical term for the business as it puts an overall impact on the organization and
can change the perspective of the customers about your products and can help in driving towards
new business. It is important for the business as it the reason the company gets the recognition
and become popular among the customers. Branding also helps in increasing the value of the
business as a strongly established brand can improve the value of the company by providing
more leverage in the industry. It helps in generating new customers in the market as the stronger
branding means the company’s positive impression among the customers.
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Task 2
Report
Introduction
This report demonstrates the use of brand portfolio strategy in the GM Motors and application of
these strategies in the organization, this report explains the hierarchy management of the brands
in the GM Motors. This report involves an analysis of the strategies used for managing the
brand's equity in the organization.
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Brand Portfolio strategy
It can be referred to as the block under which all the brand lines of the particular organization
processes to satisfy the needs of the different types of market segments.
Making an effective portfolio strategy is a difficult task to achieve as it involves confusion,
mixed opportunities, inefficiencies, etc.
The steps adopted by the GM motors to make the successful brand portfolio strategy:
• Ensuring that each brand has a different and well-defined set of roles which they have to play
in each product market context which is expected to contribute.
• For supporting the product platform and the business in the future, identification of the
strategic brand is needed which can play this role.
• During deciding on the new brand offering organization must Understand the role of the
endorsed and the sub-brands.
• Brand portfolio strategy is connected to the business strategy, which further specifies the
associated value proposition and the direction of market growth.
• An actively branded feature of the technology program helps in creating the differences for a
brand offering in the given period.
• Some established brand can be bland or tired, in this situation creation of the promotion,
sponsorship or program by an association enhances and energizes the target brand (Prophet,
2012).
Hierarchical management of brands
A brand can be an asset which attached to a product as it is intangible and conveys a certain
message to the group of audience. On the other hand Brand, management hierarchy involves the
treatment of growth, performance, and expansion of the business (Hierarchy structure, 2018).
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Gm motors use the brand management hierarchy as its brand came with a goal as it reflects in the
color of the logo, the context and celebrities involve in the brand whom the company ties with
them as brand ambassadors. So, when the process of managing the brand is performed, Gm
motor targets to maximize the brand value quantitatively and qualitatively and the brad goal is
achieved accordingly.
The brand management hierarchy determines the brand image and the color of the logo with the
help of research in the market. This helps in making point of differences which further helps in
making the brand apart from the revenue & market share, sales and other competitors in the
market.
There are different levels in the brand management hierarchy which are as follows:
• Brand head
• Head of marketing
• Brand manager
• Brand health and quality analyst
• Head and customer analytics
• Cheif manager and brand evaluation.
Strategies used for the management of brand equity
There are several ways used by GM Motors for managing and maximizing brand equity as the
managers of the organization are responsible for the implementation of these strategies. Some of
these strategies used in GM Motors are as follows:
Brand strategy
This strategy involves making the brand recognized as a brand that should show consistent
quality and represent good value. A brand should have adequate demand and lifecycle to make
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the firm profitable. For improving the brand strategy there must be excellent planning,
coordination, and communication among the levels of sales, distribution, and manufacturing.
Emotional capital
It is the way through which the consumers are attracted to the brand as even in the economic
downturn, life challenges and job changes strong brand image can retain the customers. This
strategy helps in converting the consumer into a loyal brand advocate.
Value
Branding involves the management of customer relationships for that a product must be of the
superior value in various ways because customers and retailers would like to carry brands that
offer superior value.
Legal and ethical decision making
Gm Motors makes the legal and the ethical decision making as whenever the company faces any
problem due to the unfair practices they call the lawmaker to regulate the unethical behavior in
the firm as legal and ethical are the fundamental aspects of the brands (Payumoney, 2019).
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Conclusion
This report showed how GM Motors adopted different brand portfolio strategies and its
application in the organization. The report explains the hierarchy management of the brands and
their different levels.
The report reflected the different types of strategies used in the management and maximization
of the equity of brands.
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Task 3
Report
Introduction
The report analyses the leverage of the chosen brand ‘Chevrolet’ which is an automobile
company. The report explains the various leverage strength of the Chevrolet and how it is
vulnerable by analyzing the weakness of these leverages. The report shows the superiority of the
Chevrolet during the competitions in the market and how it overcomes any problems during
those competitions.
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