Brand Management Report: Brand Management Strategies for M&S

This report provides a comprehensive analysis of brand management, using Marks & Spencer (M&S) as a case study. It begins with an introduction to brand management as a marketing tool, emphasizing its importance and historical emergence in business practices. The report then delves into the role of brand strategy in building and managing brand equity, exploring key components such as mission, vision, values, target audience, market analysis, brand personality, and taglines. Furthermore, the report examines portfolio management strategies, brand hierarchy, and brand equity management techniques. It also determines how brands are managed collaboratively at both domestic and global levels. Finally, the report identifies and evaluates various techniques for measuring and managing brand value in the marketplace. The report concludes with a summary of findings and provides references to support the analysis.

Brand Management
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Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK1.............................................................................................................................................3
P1 Branding as a Marketing Tool and its importance. Emergence of branding in business
practice........................................................................................................................................3
P2 Role of Brand Strategy in building and managing Brand Equity .........................................5
TASK2.............................................................................................................................................8
P3 Analyse the different strategies of portfolio management, brand hierarchy and brand equity
management................................................................................................................................8
TASK3...........................................................................................................................................10
P4 Determine how brands are managed collaboratively and in partnership in context of
domestic and global level..........................................................................................................10
TASK4...........................................................................................................................................12
P5 Identify and evaluate different types of techniques which company can use in order to
measure and manage its brand value in the marketplace..........................................................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
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INTRODUCTION
In marketing, brand management is define as the process in which various techniques and
methods are used in order to increase the value of products or services of the company.
Moreover the effective brand management helps in enhancing the market reputation of the
company and increases the number of loyal customers (Keller, Parameswaran and Jacob, 2011).
Branding helps in formulating strong awareness of the products and services of the company and
with the help of proper brand management company tries to maintain its brand image in
marketplace. The organisation chosen for this report is Marks & Spencer. The company is
dealing in retail sector mainly in clothing, home products and food products. It was established
in year 1884 in UK by Michael Marks and Thomas Spencer. The topics covered in the report are
importance of brand, brand strategy and management of brand equity. Different strategies of
portfolio management and brand hierarchy used by company. Brand management at domestic
and global level and different type of techniques for measuring brand value within organization.
TASK1
P1 Branding as a Marketing Tool and its importance. Emergence of branding in business practice
A brand is a name, symbol or design to build a unique identification of a company.
Branding is part of integrated marketing communication in which a company differentiate its
products and builds a unique selling proposition. It is a mental picture or a customer perceived
value formed by its customer (Coelho, Bairrada and Peres, 2019). Thus, branding is a marketing
tool which represent a unique identity for differentiating its products from competitor's products.
It is a way company communicates for letting the audience know what the company does.
Importance of branding as a Marketing tool-
Branding is important for building a impression in the minds of people and telling its
customers who they are as a business. It includes advertising, promotional tools and techniques,
logo, and goodwill of a company for establishing a brand position. Following are the importance
of branding-
1. Builds a unique Image of a company- Branding is one of the critical aspect for building
a remarkable image of a company. It helps in differentiating a product from similar
products. A unique identity of a company provides brand recognition in the market and
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helps in establishing a position in its target marketplace. Thus, it helps in building a
strong brand in its target marketplace and increases profitability with future business
opportunities.
2. Generates new customer- Branding sets a position and generates new customers for a
company. A well established brand helps in attracting new customers due to its positive
image in the marketplace. Customers become habitual of a strong brand when their needs
are satisfied in more than its expectations (Faivishenko, 2020). This helps in generating
new customers due to positive word of mouth by its existing customers.
3. Builds Trust in a marketplace- Trust is an important factor in building relationships
with customers. Branding helps in gaining and building trust for a company as it
communicates information about the company and its product. This leads to forming
reliability and dependability on a company. Eventually, it builds customer loyalty for a
company.
4. Enhances employee satisfaction- A well established brand helps in enhancing employee
satisfaction in a company. A strong brand provides satisfaction as well as a sense of
belongingness to employees. This association with a reputed brand helps in achieving
fulfilment and pride among its employees (Junaid, Hou, Hussain and Kirmani, 2019).
Thus, brands helps in increasing work satisfaction and builds enthusiastic employees.
5. Supports Advertising- Branding is one of the essential factor in advertising and
promoting business of a company. It helps in distinguishing company's products and
other activities such as programmes, campaigning and public relations from its
competitors. Thus, it helps in supporting advertising activities of a company. It promotes
and represent a business of a company leading to a established brand in a market.
6. Increases business value- Branding creates a impression in the minds of people and
helps in building perceived value for a company. A strong brand helps in generating
future business and increases value with the leverage of its brand identity in the market.
Eventually it helps in building a strong reputation and creates business for a company's
product.
7. Brand awareness- Branding is the process of spreading awareness for a product by
providing important information for a product. It includes logo, tag line, symbol and
labelling which helps in spreading relevant information for a product. It helps in building
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awareness for a brand and increases profitability of a company (Malik, 2019). Thus,
branding helps in building awareness of company's businesses and its products.
Thus, a strong brand helps in inspiring its target audiences and gain their trust with genuine
information. It also helps in investing from external sources and attracts investors.
Emergence of branding in businesses
Branding played an important role in the history of business practices. Branding had
always been able to distinguish between products, livestocks and people. It helped in
representing and identifying number of things and people in the past. In business branding
emerged due to the need for building an identity in case of similar products. Businesses required
to establish its brand for diffrentiating their products with other available businesses in an
industry. It is achieved with the help of association of a name and symbol to the business.
Therefore, it provided an identity and positioning to businesses in a marketplace. Then, it started
evolving with the help of relevant and beneficial information about the product. Eventually, it
becomes compulsory in registering of businesses by the government due to its perceived
importance in the market (Moise, Gil-Saura, Šerićand Molina, 2019). Also for differentiating and
providing identity to a busines it is necessary to set a brand with a name, symbol, design,
labelling and tag line. Thus, branding emerged and evolved in a market for spreading awareness
and communicating important information with its customers.
P2 Role of Brand Strategy in building and managing Brand Equity
Brand strategy is a long term plan or a blueprint for future actions and provides direction
in building a image perceived by the audience. It helps in framing strategy for differentiating
itself from its competition. It also helps in building strong image and characteristics of a
company such as personality, values, objectives and emotions for better communicating its
purpose and message to the world. It involves factors such as competition, consumer demand and
emotional connect with the brand.
Brand Equity is the added value in a brand or a social value created by its customers in a
marketplace. It includes various factors for building an equity such as superior quality, trust, easy
to recognise and memorable picture of a brand image.
Mark and Spencer is a leading name in the supermarket retail chain industry. Company operates
in different countries across the world and has wide product range. It includes clothing, food and
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beverages, home products etc. Company utilises various models and tools for building brand
strategy and has been putting efforts in establishing a strong and reputed brand (Sinnig, 2020).
Eventually, working to build an effective brand equity in the industry and its target marketplace.
In case of Marks and Spencer following are the key components for building and managing
company's brand equity-
Mission statement- Brand purpose can be established from mission statement of a company.
Purpose of a company is important for communicating its messages to the target audience.
Company uses its mission statement for building and guiding brand strategy with a purpose to
achieve. Its core purpose is to make inspirational quality accessible to others and becomes a
source for guidance. Thus, it helps in building overall brand strategy for its effective
implementation and achieving pre determined objectives and position in the company's target
market.
Vision- Vision statement helps in navigating a brand with its long term vision of a company.
Company has a vision to provide a standard against which its competitors may be measured,
from customer experience, to care for the environment and community and to the working
environment for employees (Grebosz-Krawczyk).
Values- Values of a company reflects in the work culture and becomes a driving force in
channelising outcomes. Marks and Spencer is built on core values of quality, innovation,
integrity and trust. This becomes a company's guiding force in building effective brand strategy.
It helps in building perceived value by its target customers in the marketplace. Also, it helps in
communicating with stakeholders for achieving company's overall objectives. Thus, stating and
application of core values by Marks and Spencer has helped in building its core image as per its
practicing of values. It helps the company to show its customers what company stands for and in
making important decision.
Target audience- Targeted customers helps in analysing their needs and wants in an effective
manner. It also provides positioning in the markeplace. Company has been framing its strategies
with well considering its target audiences. It is done with the help of forming profile for its target
customers. It includes demographic factors, their goals and aspirations and behavioural patterns.
This helps in serving them with great satisfaction and understanding their characteristics such as
personality, emotional inclinations and buying behaviour etc ( Shahin and Pourhamidi 2020).
For example, company has framed its target audiences for different product categories and range
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of products. In clothing for which company has large market share it has targerted youngsters
and adults.
Market analysis- Market analysis is one of the critical aspect in positioning of a brand in a
market. Due to the presence of competitors in an industry, market analysis has become essential
for surviving and achieving its objectives. Thus for developing effective brand strategy it is
important to analyse competitive marketplace. Company has been very sensitive towards its
competition actions. It researches its micro environment and analyse with the help of tools and
techniques. It includes SWOT, PESTEL and various other models helping in gaining competitive
advantahge.
Brand Personality- Brand personality results in demonstrating company's beliefs, values,
attitude and culture it follows. It helps in building valued perception and resonates with its
customers. Therefore, it is essential to build character and personality of a brand for achiveing
position in a market. Marks and Spencer has been putting its substantial efforts for establishing
its brand personality with the help of various promotional programmes and using of models,
tools for enabling desired personality. This has helped the company to resonate and emotionally
connect with its targeted audiences for building loyalty among its customers ( Odoom, Kosiba,
Djamgbah and Narh 2019).
Tag line- Tag line is a concise and memorable short message which helps in creating brand
story. It helps in communicating company's purpose and its business strengths to the target
audiences. Marks and Spencer has been using customer specific slogans for attracting its targeted
audiences. This has helped the company in generating revenues and social presence in a market.
Company has able to generate more business by positioning its brand with the help of short and
specific messages targeted to its specific audiesnce.
Thus, all the above key components of brand strategy has helped in developing and managing
brand equity in a company. Marks and Spencer has been able to achieve its brand equity with
considering all the key components for establishing impactful brand strategy (Singh, Bajpai and
Kulshreshtha, 2020). It has focused majorly on building and communicating brand purpose,
personality and slogans for attracting its target audiences and in developing great brand equity.
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TASK2
P3 Analyse the different strategies of portfolio management, brand hierarchy and brand equity
management.
Portfolios management is define as the process in which management is responsible to
take decisions regarding investment policy, allocation of resources, management of assets, risk
management and many more (Rosenbaum-Elliott, Percy and Pervan, 2015). Brand management
is the marketing function in which various strategies and techniques are been used by company
for decided duration of time in order to increase the brand awareness.
Brand Portfolio Strategy
Brand portfolio strategy plays important role in managing brand equity of the company
where on the bases of number of market segments the brand line is determined. Every
organisation has different strategies and activities in order to make their brand in marketplace.
Companies who are able to manage and use it resources and strategies in proper way then they
will gain benefit that is able to improve their brand image in the marketplace. In context of
Marks & Spenser they are using their brand name along with tag line “spend it well” in order to
make its potential customers aware about its products and services. In order to make its brand the
superior one they have adopted various methods and strategies which are explained below-
 Active portfolio management- It is the most effective strategy which is been used by the
owners or employees at high authorities in the formulation and implementation of various
methods. Basically they are the one who take risk on behalf of company with the motive
to provide desire results. Mostly this strategies is been adopted and used by the
companies who are operating at large scale and has large market share. In context of
Marks & Spenser they can use this approach in order to provide tough competition to its
competitors and to increase its market presence (Barrow and Mosley, 2011). Company is
dealing in retail industry hence facing high level of competition in the marketplace.
 Passive portfolio strategy- This is the marketing approach in which company considers
various methods and formulate strategies in which risk is not involve. These small steps
help them in enhancing their brand image in the marketplace. In context of Marks and
Spencer, is method is not appropriate for them as they are operating at global level so
need to take risk at various stages of business operations.
Hierarchy Management of brands
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It refers to the method in which the framework for the brand after considering all its
aspects is been formulated along with proper allocation of role in marketing department. With
the use of hierarchy management of brand company can identify, explain and use various
methods and strategies in order to stand out in marketplace and to differentiate it from other
competitors. In context of Marks & Spencer the company consider following ways in brand
portfolios model which is explain below-
 Branded properties- The brand managers of the company make different strategies in
order to concentrate on all the brand with the business operations with the motive to
increase the brand awareness if the company and to increase the market share (Kapferer,
2012).
 Housing brand strategy- This is the type of branding strategy which is been used by
company in order to promote its different range of products separately in the marketplace.
This strategy involves high cost hence company need to have wide range of financial
sources in order to make customers aware about its different product under different
name that is individual branding technique. In context of Marks & Spenser, the company
has various brand under its brand name that is blue harbour, indigo collection, per una
and many more. Hence they can develop different strategies and implement them in order
to promote their individual brand collection name which help in enhancing the overall
brand image of the company and able to increase its sales.
In order to focus on developing the hierarchies the company (Marks & Spenser) may consider
following methods and techniques which are explained below-
 Corporate branding- It is the most appropriate strategy which is use by big brands as by
the use of this method the company is been promoted as one entity in the marketplace.
With the help of this strategy Marks & Spenser would be able to enhance the market
performance so that customers prefer their brand in comparison to other competitors.
Hence help them in increasing the sales and profit volume (Hanna and Rowley, 2011).
1. Umbrella branding- It is mainly use by those companies which are not ready to take risk
in the business that is with the promotion of specific sub brand they tried to sale its other
products too. In context of Marks & Spenser this strategy is not of use as company is
dealing in wide range of products in which many are not connected with each other. This
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strategy provide effective results when customer is visiting the physical stores as they
have variety of products so they have more option of choice.
Strategies for developing Brand equity
In context of Marks and Spencer they can use the following describe methods and
strategies in order to develop its brand equity-
 Brand image- Marks and Spenser can adopt this strategy in its business operations in
order to enhance and maintain its brand image. The company is able to maintain its brand
image as they are providing quality products and services to its customers which is
helping them in increasing its number of loyal customers (Jin, 2012).
 Innovation in its range of products- In context of the Marks and Spenser they are using
various strategies and methods in order to make its product more innovative and
attractive in order to gain the interest of the customers. As company is facing high
competition in marketplace so in order to hold its position in the marketplace they need to
adopt the different methods. It has able to attract the customers by providing designer,
trendy cloths with good quality in order to attract them.
Market research is one of the most important activity for business organisation in order to
provide effective results. With the help of market research company come to know about various
trends and the strategies of the competitors so that they can consider it and can formulate better
strategies and methods in order to provide effective results.
TASK3
P4 Determine how brands are managed collaboratively and in partnership in context of domestic
and global level.
Brand extension is define as the method which organisations uses in order to improve or
make addition in its marketing strategies with the motive to starch its brand name in marketplace.
The company uses various methods and techniques in order to understand the market reputation
of the brand and the viewpoint of customers regarding its products and services. As they come to
know after analysing various factor what they need to take next step in order to increase its
products demand in the marketplace (Zenker and Braun, 2010). It is an essential process for
every business organisation to take steps in order to enhance its brand value so that it would be
able to develop the interest of customers towards there brand products and services.
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 Re-positioning of the product- In context of Marks and Spenser, the company can use this
strategy in case when they are not able to sell its product in the marketplace. By
repositioning the same product with different innovative and creative method they can
attract customers towards their products. Something it happens that the range of few
products are not preferred and liked by customer so in that case they can use different
ways in order to sale that product such as by providing discount or vouchers on the
product they can attract the potential; customers.
 Repositioning of different products in the existing range- In context of Marks & Spencer
they use this strategy as when they come up with new range of products they introduce it
in its existing categories of products that is women, men, kids, fusion, jewellery and
many more (Phan, Thomas and Heine, 2011).
 Franchising- In respect of Marks and Spencer, they use this strategy in order to expand its
business. The company is operating at international level and by delegating its brand
authority to different potential businessman in different countries it is expanding its
business in different parts and making people aware about its brand. Moreover it has
helped the company in increasing its profits and market share as they are able to make
people aware about its brand and offering wide range of products with good quality and
at affordable prices. This method provide benefit to the company as they are able to
provide tough competition to its competitors in the marketplace.
 Change in brand name- In context of Marks and Spencer it is necessary for them to focus
on brand extension in order to make its customers aware about its existence in the
marketplace. With the help of brand extension they come to know about the customers
viewpoint and opinions regarding their products and services so that they can make
suitable changes in its existing properties (Kunerth and Mosley, 2011).
Brand extension(Fit and Leverage)
Fit and leverage properties provide great support to the companies who are planning to
implement the brand extension. Basically it helps in measuring the buying power of the
customers and their needs and preferences before they take next step that is investment in the
process of brand extension. In context of Marks and Spencer it has provided the great support to
the business as they have same logo, tag line and brand name which helped in attracting large
number of potential customers.
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Brand collaboration and partnership-
In context of Marks and Spencer they are involve in several collaboration and partnership
which has help the company in expanding its business. The company has started its business
from food industry and later with the help of various collaborations and partnership they are able
to enter in clothing industry, home essentials and many more. The partners of the company are
WHSmith which are in partnership with the company from year 2012 and operating with M&S
in food stores, Moto is been in partnership with M&S since 2004, Compass group is in
partnership from 2013 and providing support in food stores in hospitals, SSP (Select Service
Partners) has been in partnership from 2001 and with BP from 2005. The company has
collaboration with fresh produce consortium which helps them in production sector, organic
farmers & growers industry association supporting them in development of organic standards
and on-pack recycling Ltd help in recycling message on packaging.
Global branding and positioning
In context of Marks and Spencer, the company need to adopt various methods and
strategies in order to establish its brand name and acquire position in marketplace at global level
(King, 2010). With the help of various channels of promotion they will be able to attract the
large number of customers towards its products. Moreover global branding and positioning will
help in formulating effective image of company among its customers across the globe.
TASK4
P5 Identify and evaluate different types of techniques which company can use in order to
measure and manage its brand value in the marketplace.
In context of Marks and Spencer there are various brand management techniques which
they can adopt in order to measure its market share and increase brand awareness (Spence and
Essoussi, 2010).
Brand Awareness
 Survey- With the adoption of this method company can create brand awareness among its
potential customers and come to know about the taste and preferences of customers.
 Social Media marketing- With the use of various social platform they can make its
customers aware about its various offers and new collection. As majority of people spend
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