Brand Management Report: Brand Extension, Collaboration, and Budgeting

This report provides an overview of brand management, focusing on brand extension and leverage strategies. It explores how companies, such as Tesco, utilize brand names to launch new products and expand market reach. The report delves into various brand extension approaches, including management plans, vertical extensions, and go-to-market strategies, emphasizing the importance of 'fit and leverage.' It examines how companies reinforce and revitalize their brands through packaging, technology, and collaboration. The report also discusses brand collaboration and partnerships, global budgeting, and positioning, highlighting how these elements contribute to a brand's success in the market. The analysis includes references to academic sources that support the concepts discussed, providing a comprehensive understanding of the subject.

BRAND MANAGEMENT

Contents
BRAND MANAGEMENT.............................................................................................................1
LO3..................................................................................................................................................3
Brand Extension and leverage:........................................................................................................3
Brand Extension approaches and strategies:....................................................................................3
'Fit and Leverage' in brand extension:.............................................................................................3
Brand reinforced and revitalised:.....................................................................................................4
Brand Collaboration and Partnership:.............................................................................................4
Global Budgeting and Positioning:..................................................................................................4
REFERENCES................................................................................................................................5

LO3
Brand Extension and leverage:
Brand extension and leverage is the state when company use their brand name power for
the launching of new product. Like TESCO re-brand their products with new names i.e.
'Everyday Value' so that they make stable position in the market. They include 550 products of
TESCO which have centre point is packaging as well as modifications or changing the process of
products. TESCO director stated that they provide Everyday Value with at same price that what
customers want. So it is the tool where the companies like TESCO uses to capture the market
opportunities (Witmaier, 2018).
Brand Extension approaches and strategies:
There are number of strategies used by companies like TESCO for the effective
application of brand extension in the market. Brand extension demands a proper strategy so that
it get not fail after the huge investment of company. Strategies include development of
management plan, vertical extensions and go to market strategy. TESCO uses go to market
strategy that means target the right focal point where the company apply the right marketing
process and sales (Osakwe, Chovancová and Agu, 2016).
'Fit and Leverage' in brand extension:
Most of companies uses their brand names in order to promote other products which
somehow create positive or negative impact on the company’s image. Firstly, branding
companies need to analyse market demand before launching new product (Fischer and Himme,
2017). In relation with TESCO, a retailer stores often launch new product varieties with its
existing brand name which is known as fit, as per their customer’s preference, also TESCO
creates an opportunity for other small business by leverage their product like partnership with
Disney, it launches an app which sale frozen Disney products into them.
Brand reinforced and revitalised:
Many companies are in need to reinforced and revitalised their products. In other words,
need for change has arises which can overcome by changing in technologies, brand packaging, or
tag line (Laub and et. al., 2018). TESCO often revitalise its product by brand extension, it uses

this as a strategy to make more recognisable products which positively attracts enormous
consumer to buy them.
Brand Collaboration and Partnership:
A brand collaboration is a strategic partnership between to or another company. TESCO
PLC collaborate with many companies like Budgens, Booker Group, Londis, Premier Stores and
make partnership with the partnership act. TESCO is a public limited company and they help the
businessman to draw their shares as they would have limited liability. TESCO PLC give the
several benefit for the partnership companies. If the company winding up the TESCO company
first paid to the creditors partnership companies than paid the shareholder of the company.
Global Budgeting and Positioning:
A global budgeting is a fixed amount of budget that can spend the company during a
specified period of time. TESCO make a global budget according to the requirement of the
company and it helps to know the exact cash inflow and outflows of business. It also helps to
maintain the positioning and status of the TESCO company in the market (Okanga, 2018).

REFERENCES
Books and Journals
Witmaier, A., 2018, July. CORPORATE BRANDING AND SPILLOVER EFFECTS: THE
ROLE OF PRODUCT BRANDS IN BRAND EQUITY LEVERAGE AND DILUTION.
In 2018 Global Marketing Conference at Tokyo (pp. 1251-1252).
Osakwe, C.N., Chovancová, M. and Agu, M., 2016. Can micro-enterprises leverage on the
adoption of corporate websites to bolster their brand visibility? Examining salient
adoption issues in Nigeria. Information Development, 32(4), pp.904-919.
Laub, F., Ferdinand, H.M., Kramer, I. and Pätzmann, J.U., 2018. How archetypal brands
leverage consumers' perception: A qualitative investigation of brand loyalty and
storytelling. Markenbrand, (6/2018), pp.46-54.
Fischer, M. and Himme, A., 2017. The financial brand value chain: How brand investments
contribute to the financial health of firms. International Journal of Research in
Marketing, 34(1), pp.137-153.
Okanga, B., 2018. Using experiential marketing to leverage the small and medium-sized
enterprises’ brand repositioning and revitalisation. The Southern African Journal of
Entrepreneurship and Small Business Management, 10(1), pp.1-20.