ICON College: Unit 41 Brand Management Report - Marks & Spencer

This report provides a comprehensive analysis of brand management, focusing on Marks & Spencer as a case study. It begins by defining the significance of branding as a marketing tool and its emergence in business practice, followed by an exploration of key components for a successful brand strategy, particularly in building and managing brand equity. The report then delves into portfolio management strategies, brand hierarchy, and brand equity management techniques. Furthermore, it assesses collaborative brand management at both domestic and global levels and evaluates various tools used for measuring and administering brand value. The report covers topics such as brand awareness, brand loyalty, regular product launches, communication factors, brand strategies, and the impact of positive and negative brand equity, providing a detailed overview of the subject matter.

Brand Management

Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Define the significance of branding as a marketing tool and why it had emerged in
business practice..........................................................................................................................1
P2. Determine the key components of a successful brand strategy for building and managing
brand equity.................................................................................................................................3
TASK 2............................................................................................................................................4
P3. Analyse different strategies of portfolio management, brand hierarchy and brand equity
management.................................................................................................................................4
TASK 3............................................................................................................................................6
P4. Assess how brands are managed collaboratively and in partnership both at a domestic and
global level...................................................................................................................................6
TASK 4............................................................................................................................................9
P5. Assess different kinds of tools for measuring and administrating brand value.....................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Brand management refers activities that are conducted by business enterprise for
appropriately manage brand. There are several techniques and tools which are implemented by
organisation for managing brand and getting attention wide range of target audiences. Along
with this, it is most essential to retain loyal consumer for long term (Rambocas, Kirpalani and
Simms, 2018). For the completion of this assessment, Marks and Spencer is taken in to
consideration. This business venture was incorporated in 1884 by Michael Marks and Thomas
Spencer. They centre on offering products and services crosswise the world. This written
document will discuss about the importance of branding as a tool of marketing. The key factor of
managing strategies for successful brand is managing or handling brand equity in an effective
form. In this assignment, there are different plan of action that are utilised for portfolio
management, brand equity management as well as brand hierarchy is considered. It also
considers assessment to how brand is managed collobarively at both domestic and global scale.
Along with this, there are different tools that are utilised for measuring and handling values of
brand which is define within this document.
TASK 1
P1. Define the significance of branding as a marketing tool and why it had emerged in business
practice
Branding denotes actions that are taken by business organisation for endorsement of
products and services associated to brand. It is significant for Marks & Spencer to execute
effective activities associated to branding that provide several benefits during specific phase of
time frame (Rather and Camilleri, 2019). Along with this, branding plays an important function
in making that helps in getting attention large number of user in respect of business that develops
sales of establishment. Marks & Spencer centres on developing their brand image by provide
higher quality products and services to its consumers and fulfilling their require. Along with
this, branding is analysed as an effective plan of organisation that is useful for developing sales
in upcoming time. The importance of branding as a tool of marketing that is going to be defined
as under:
The brand offer competitive benefits brand is very important because it helps organisation in
accomplishing rivalry benefits over competitors at market place. By utilising higher brand image,
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the Marks and Spencer is capable to accomplish competitive benefits over rival organisations at
market and also it is utilised in performing different activities of company. There are different
techniques of company. Brand is important activities that offer support to establishment in
developing market share of firm.
Attract customers- The brand is crucial for getting attention large number of user in
context of organisation. The brand image associated to Marks & Spencer is able to getting
attention of range of consumer and develops sales of firm (Anees-ur-Rehman and et. al., 2018).
Thus, the brand image of company to be importance because it attracts a number of customers
with the aim of developing brand image. This strong branding that is efficient for developing
positive impact of brand among consumers.
Increase profitability- Maximisation in profitability margin of the firm is the key objective
of firm and it crucial for respective firm to develop higher brand image for increasing revenue
and income. Branding is analysed as a significant segment of firm as it supports in maximising
activities of marketing of firm. It is crucial as branding will aids supports in making business
value that will be crucial for efficiently execute activities of business enterprise.
Enhance customer loyalty- By utilising strong brand in the company, they will be able to
maximise satisfaction degree of user. Branding is important marketing tool and it is crucial for
developing loyalty of consumer and for developing its brand image. It is crucial for Marks &
Spencer to analyse effective activities associated to branding with aim of accomplishing aim as
well as objective in timely form. Thus, it is needed to develop loyalty of consumer in context of
maximise consumer base and build optimistic image of position in the market place.
Along with this, branding is analysed a important segment of company as it will lead to
develop activities associated to branding for getting attention of large number of user in respect
of company. Branding actions and procedures posses direct impact on functions of company and
it is important for selected firm to consider efficient activity to execute successful branding. This
string branding poses optimistic influence on company and they are able to execute task of firm
in successful way (Goggins and et. al., 2020). The specific firm centres on executing different
activities of branding with aim of developing profit margin upcoming time duration. In Marks &
Spencer, branding activities aids support in developing different task and activities ineffective
manner. As per the particular firm, they accept several kinds of marketing tools for getting
attention of number of consumers with increasing revenue or income of the company.
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Branding has emerged inside the commercial enterprise practices in following methods
 Branding allows in producing the future business and properly installed brand can help
increasing the commercial enterprise cost.
 It has developed the sense of professionalism a few of the personnel of Marks and Spencer
and employees also sense proud and satisfied while running in the corporation.
 A well mounted branding techniques has helped the corporation in constructing the agree
with its clients, customers and also with its consumers.
 Branding could have the impact at the long time increase and profitability of the business.
 Brand building allows a brand to come to be a worldwide emblem via splendid branding and
its implementation.
P2. Determine the key components of a successful brand strategy for building and managing
brand equity
Brand strategy refers the long term planning associated to brand for accomplishing aim and
goals of the firm. It is important for Marks & Spencer to effectively utilise brand strategy for
developing brand equity. There are different aspects that are crucial for developing higher brand
equity. There are diverse aspects that are crucial for developing higher brand equity. Along with
this, brand equity refers to commercial value associated to company from the perspective of user
in context of brand image of company (Zameer, Wang and Yasmeen, 2019). It will consider
perception of consumer towards products and facilities which is offered by company that support
in developing a brand image and reputation of firm in front of user at marketplace. It also refers
values that are accepted by company in its same kind of commodities under particular brand
name. It is crucial for making higher brand in comparison to other competitive firm. The action
plan that is accepted by Marks & Spencer to develop brand value that is defined as under:
Brand awareness- For creating awareness regarding products and services, the selected
organisation focuses on including different approaches in effective manner. It is effective tool for
developing awareness towards services and offering different goods to its user.
Brand loyalty- In Marks & Spencer, the management of the company is needed to offer
effective services along with higher quality of commodities for developing brand loyalty and
trust of user in context of company. Along with this, it is effective tool which is crucial for
maximising brand reputation of firm by satisfying demand of its user.
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Regular product launches- Marks & Spencer should provide constant goods with
objective of maximising brand value and attract large number of consumers regarding firm. By
constant launches of goods, the firm centres on evaluating demand of user and launches
commodities as per to their need. It is significant for developing brand value for accomplishing
aim on time.
There are different aspects for managing brand equity during the period of time (Soler-
Labajos and Jiménez-Zarco, 2020). It is crucial for the management of respective venture to
assess those components that is crucial for developing brand image that is defined as under:
Communication factor- It is crucial component for maximising brand equity as this will
support in providing appropriate information to its user towards brand. Communication will aids
help or support to firm to develop brand equity and provides higher quality commodities for
meeting or fulfilling demand of its user. It is required for administration for management group
of M&S to provide appropriate information to its user in context of brand for developing sales in
future time period. Thus, the manager centres on offering products and services as per to demand
of its user. It maximises experience level of consumer during the given time frame.
Strategies- Marks & Spencer centres on developing higher strategy associated to brand
that is crucial for providing direction to company for executing process associated to brand
management in an amended form (Veloutsou and Black, 2020). The administration group of
selected firm emphasised on developing or designing effective plan of actions and tools for
fulfilling demand of its user. Strategy is crucial for providing direction to venture that supports in
accomplishing aim in given time frame.
Increasing awareness- It is important for company to execute different activities which
is crucial for maximising awareness towards products and services in the market. This
component will poses instant impact on overall performance of business establishment and also
in its brand equity. Thus, it is needed to create awareness of goods and services in fro to its target
audiences at market place.
Examples of Positive Brand Equity
Brand fairness refers back to the value delivered to the same product beneath a particular
logo. This makes one product leading over others. This is emblem fairness which makes a brand
advanced or inferior to that of others.
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Apple is the fine instance of brand equity. Although all made from this brand has similar
functions, the loyalty, demand and fee top rate is higher than different similar brands. Many
different social networking web sites came and gone; however, Facebook is pretty steady.
Facebook has managed to achieve logo unswerving customers that most of its users do not even
examine different social media platforms.
Examples of Negative Brand Equity
Goldman Sachs an funding bank and financial carrier agency misplaced its brand fee
while humans found out its function within the 2008 financial crisis and took 10 years to get
better its popularity. From 2009 to 2011 Toyota recalled almost nine million motors due to
unintentional acceleration and anti-lock brake software program issues. Oil and gasoline logo
Shell Oil spilled in the Nigeria delta damaged its brand fairness.
TASK 2
P3. Analyse different strategies of portfolio management, brand hierarchy and brand equity
management
The portfolio management acquire selection and effective controlling or monitoring of
program of business organisation for accomplishing or gaining positive outcomes associated to
facilities. The key purpose of portfolio management is to administrate performance of changes
for accomplishing favourable outcome in future time frame. As per Marks & Spencer, it is
analysed as a famous multinational retailing venture because they acquire diverse sort of
portfolio management plan that is crucial for managing position at rivalry market place
(Iorgulescu and Marcu, 2019). It denotes several plans of actions and plans of portfolio
management which help in offering guidance in order to managing or handling products and
facilities of firm.
Passive management according to this strategy, the company centres on accomplishing and
attaining aims of business firm for gaining competitive benefits over rivalries at marketplace. As
the establishment can concentrate on organising their actions in effective manner that is defined
as beneath:
Indulging in long term trading- Herein, the focus is on maximising portfolio
management where organisation performs their trading to develop or enhance scope associated to
portfolio.
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Investment in index funds- This situation arises, when company centres on having
wider portfolio that define Marks & Spencer is facing or confronting several type of issues in the
market (Majerova and Kubjatkova, 2020).
Active management it is important strategy that is essential to utilised by the firm that is
associated to data determination of specific organisation portfolio as organisation centres on
perform their task or project in diverse form that is going to be defined under:
By using quantitative analysis- Company must consider offering arithmetic comparison
in order to assess growth of portfolio strategy in a effective form.
Diversification factor- As per the particular venture like Marks & Spencer needed to
have different portfolio to develop the scope associated to development and progress in the
market.
From above defined discussion of several plan or strategy associated to portfolio
management, the venture like Marks & Spencer must analyse or include active administration as
they utilise diversification strategy.
Brand hierarchy: It refers towards series of commodities that manufactures and
marketing under name of organisation or its brand. There are diverse kinds of commodities and
services provided by Marks & Spencer like clothing, home appliances and many more that is
produced in manufacturing house for marketing purposes. It refers different plans and strategies
which are defined as under:
Branded house- As per this strategy, the company and establishment assess brand as
well as sub brand in of venture that is not related with primal brand (Lesmana, Widodo and
Sunardi, 2020). It supports venture to become stronger in compare to its rival firm during the
given time frame.
House of brand- According to this approach, sub brand is included as a different from
company because they centre on promoting sub brand for maximising experience and level of
knowledge of user during specific time period. Along with this, Marks & Spencer centre on
promoting its brand in context of getting attention of large number of target audiences at the
market place.
On the defined description regarding brand hierarchy, there are diverse plans that are
measured by selected firms like brand, clothing home appliances, electronic appliances and many
more in context of retaining consumer for long term (Joshi and Yadav, 2018). It is analysed that
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a flexible business venture diversified and differentiated their goods from its competitor ventures
in context of attain and accomplish rivalry benefits from the market place.
Brand equity management- It refers ad denotes to the system associated to process of research
that centres on optimum use of information in context of attain and accomplish objective of the
business organisation. In Marks & Spencer, the management of the firm accepts brand equity
management which is mentioned as under:
Salience- It is the primary level which support in creating awareness about the
commodities and services of the company at market place.
Customer focus- It on satisfying demand of its user or target audiences by using several
endorsement channels and tools.
Promotion- Within this, there is two need of company perspective to manage relationship
with its user. It is also crucial in retaining target audiences for a long term period.
Judgement- As per this phase, goods and services is launched and introduced s per to the
consumers perspectives.
Resonance- It is analysed as a highest process where establishment centres on analysing
model of consumer physiology in order to satisfaction level of its user.
Brand portfolio is one the most vital part of an business enterprise. Brand portfolio method
enables in proper renovation of the brand in relation with various factors such as charge and
high-quality of products, customers desire and so on. The exceptional of the brand have to be
precise and they ought to in step with the needs of the purchaser. Portfolios assist the business
enterprise through providing a proper enterprise shape and subject which is wanted for imparting
aid and successful implementation of plans of the organisation. Brand portfolio is came about
whilst a unmarried organization is working in the market with multiple emblem (Robertson,
2018).
 Brand fairness helps in improving the exceptional leading to fulfillment of the business
enterprise. The diverse strategies that can be used by Optimum Impression Ltd are as
follows:
 Forecast of the demands need to be made. This will help the logo to understand about the
tendencies. With forecasting the call for the emblem can help the brand in noticing he
trend and offer product and offerings in keeping with that.
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 Developing a really perfect advertising and marketing method is likewise very helpful. It
enables the enterprise to know the desires of the customers, and their interest. A perfect
advertising method may be evolved simplest after the method of call for forecasting.
 A proper product control is necessary which enables in doing away with any form of
uncertain situations all through the advertising and marketing. Every product must be
recorded and traced. Predefined policies need to be set to dispose of uncertainties. This
includes every step from use of uncooked materials to marketing the product.
 The logo have to consciousness on enjoyable the orders on time. This could build client
believe and emblem picture.
 A true fine of product and provider should be supplied to the clients for the charge
offered.
 The emblem ought to keep away from right and state-of-the-art generation for staying up
to date with the changing generation.
 For being modern and imparting verities to the clients, the emblem have to produce
unique products and services with exceptional fee degrees.
TASK 3
P4. Assess how brands are managed collaboratively and in partnership both at a domestic and
global level
In context of business enterprise, the management of brand is crucial for business firms as
brand shows mindset of customers for administrating long term relations with target audiences of
the business enterprise (Erkmen and Hancer, 2019). Thus, Marks & Spencer is considered as
retail Sector Company which provides its goods and services at global level. The brand
management is determined as a crucial and significant as well as important aspect for all
ventures that supports in gaining competitive advantages that exist in the market place. In
addition to this, operation connected to organisation in addition with small venture is determined
as a primal method for investigating worth in the market.
Brand extension- It is the use of a well established brand name in new product categories.
Therefore, new segment to which the brand is extended can be connected and unrelated to the
existing product classes. A successful brand supports a company to launch goods in new
segments in easier form. Brand extension is included as a basic one which aids supports in
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managing with rivalry benefits (Rambocas, Kirpalani and Simms, 2018). It is important in
administrating appropriate relation with customer by offering them product as per their
requirements and needs. With the support of it, brand extension highlighted on utilising higher
quality of goods and services by making change in current goods and facilities in mind set of
customer at the market place. In order to consider brand extension, Marks & Spencer can have
several advantages like it develops and improves brand image of the business enterprise and
reduce the risk that is perceived by customers. In addition to this, the efficiency and productivity
of promotional expenses increases and costs of advertisement, selling and promotion are
reduced.
Line extension- It is method and technique that can be adopted by the company in context
of making focus on the expansion of an existing product segment. It occurs when the company
introduces additional commodities in the same product line under the same brand. In Marks &
Spencer, the management can earn diverse and numerous advantages in context of accepting this
strategy and plan like established loyal customer base, low cost of manufacturing, low cost of
development and goods supply or retailer relationships as well as able to meet diverse need of
target audiences.
Strategies of brand extension- There are numerous kinds of companies that emphasise on
dealing in different commodities and facilities in compare to its rivals. In context of this, it is
important for company to design and formulate plans and strategies for performing diverse acts
and task in more developed manner (Rather and Camilleri, 2019). Therefore, the business goals
and objectives of the company are same as they highlight on attracting number of target
individual within a particular time period. The company emphasise on gaining or earning high
level of profits and income then they highlight on developing and enhancing the faithfulness or
loyalty of its target people. In addition to this, the business firm can include diverse kind of
marketing techniques and channels such as social media, advertisement, TV, commercial ads and
others in context of promoting and advertising its products and facilities in the market place. The
descriptions of some of them are as below in context of Marks and Spencer:
Brand imagination- It is included as a brand that is followed by each form for
development and progress of organisation and also support in administrating the relation with the
consumers.
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Innovation- It is determined as technique and tool that is crucial to execute task along with
some creative offering in the market place (Anees-ur-Rehman and et. al., 2018). It will offer
support in improving and enhancing profit margins and income of the company.
Strengths of Marks & Spencer Company
Effective operating strategy: Marks & Spencer centre on administrating its effective
operational plan in context of compete its competitors. The business venture has also introduced
technology in it supply chain in order to sustain efficiency and productiveness.
Lower prices: Marks & Spencer provides discount prices to its consumer. It supports in
getting attention of number of target audiences. The main focus of the company is on the user’s
satisfaction. In addition to this, the company has launched private label brands.
Weaknesses of Marks & Spencer Company
Inability to penetrate in foreign markets: Marks & Spencer has limited operations in some
areas like USA, Europe, UK India and others. Due to which, the organisation has limited reach to
its potential customers.
Ethical issues: The organisation has involved in several controversies like spying in the
employees of their organisation (Goggins and et. al., 2020). It has resulted in leaving a bad
impression of their establishment that have reduced their market share.
Collaborative and partnership agreements
The collaborative and partnership agreements on context of Marks & Spencer are as below:
 In 2014, Marks & Spencer make partnership with Consumer Goods Forum to support
industry efforts as well as making current focus on sustainable and healthy lives. CGF is
a industry association and Marks & Spencer status in this partnership is as a participating
firm, member of the board, previous Co-chair of the Retailer College and the
Sustainability Steering Committee.
 In 2013, the management of respective firm made partnership with World Cocoa
Foundation to promote sustainable cocoa economies. World Cocoa Foundation is Multi
Stakeholder Initiative and Marks & Spencer participating company as well as first retail
member.
There are different tool included to extend brand is brand awareness that is considered as a
marketing term which determine level of consciousness of product by name. In addition to this,
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