Comprehensive Analysis of Brand Management at Tesco PLC

This report provides a comprehensive analysis of brand management strategies applied to Tesco PLC. It begins with an introduction to branding and its importance as a marketing tool, followed by an overview of Tesco PLC's market position and financial performance. The report then delves into the core components of a successful brand strategy, including building and managing brand equity, with reference to the Aaker Brand Equity Model. It explores various strategies for portfolio management, brand hierarchy, and brand equity management, considering both domestic and global contexts. Furthermore, the report examines collaborative brand management and partnership approaches. Finally, it evaluates techniques for leveraging and extending brands, as well as tools for assessing brand value, culminating in a critical evaluation of brand management techniques for building an enduring brand. The report concludes with a summary of key findings and recommendations for Tesco PLC.

BRAND MANAGEMENT
TESCO PLC.
1 | P a g e

Contents
INTRODUCTION...........................................................................................................................................3
COMPANY OVERVIEW.................................................................................................................................4
BUILDING OF BRAND AND MANAGING.......................................................................................................5
KEY COMPONENTS OF SUCCESSFUL BRAND STRATEGY..............................................................................6
THEORIES, MODELS AND CONCEPTS- BRAND MANAGEMENT....................................................................7
EXAMPLES WITHIN AN ORGANIZATIONAL CONTEXT...................................................................................8
PORTFOLIO MANAGEMENT, BRAND HIERARCHY, BRAND EQUITY MANAGEMENT....................................9
BRAND MANAGEMENT COLLABORATIVELY AND IN PARTNERSHIP- DOMESTIC AND GLOBAL LEVEL........12
TECHNIQUES FOR LEVERAGE AND EXTEND BRANDS.................................................................................14
TECHNIQUES AND TOOLS FOR EVALUATING THE BRAND.........................................................................15
CRITICAL EVALUATION OF BRAND MANAGEMENT TECHNIQUES TOWARDS AN ENDURING BRAND........15
CONCLUSION.............................................................................................................................................17
REFERENCES..............................................................................................................................................18

INTRODUCTION
For a company it is very important to have its name in the market and among the other
companies to have a competitive advantage in the market and it is important to have
good brand name and value in the market.
This report will study about what is branding and what is the importance of branding as
marketing tool; it will also study about the components of a successful brand strategy for
building and managing brand equity. The second part of the report will study about the
different strategies of portfolio management, brand hierarchy and brand equity
management. The third part of the report will cover about how brands are managed
collaboratively and partnership both at domestic and global level. And the last part of
the report will study about the evaluation of different types of techniques for measuring
and managing the brand value.

COMPANY OVERVIEW
Marks and Spencer Group plc commonly known as M&S, is a British multinational
company which was founded by Michael Marks Thomas Spencer with its headquarters
in London, England, UK with at store number measured in 2019 of 1463 stores. M&S is
a company specialized in selling clothing, home products and food products. The
company earned revenue of £ 10,181.9 million and net income of £ 254.8 million in
2020 which showed decrease in the value. The company holds manpower of 78,000
(2021). M&S Group Plc made revenue of about 10.2 billion British pounds (M&S, 2021).
Fig1. Share in Grocery market (Statista, 2020).
According to the figure above the market share of M&S Group Plc in grocery market
decreased by .1% from 2019 to 2020 and the company has been seen continuous
decrease in the market share which is affected due to high competition in due to brand
value and this is why M&S Group Plc need to do brand management and manage the
brand in a systematic way (Statista, 2020).

BUILDING OF BRAND AND MANAGING
Branding by the definition means the company’s name, image, symbol or a design that
makes the market and the people in the market identify the company easily. For
example McDonalds has a symbol M by which it is easily identical that the company is
McDonalds. Branding is important not to build a brand name for the company but it is
important to create impression on the customers and make them understand that what
they have to expect from the company. When a customer experiences a brand then it
builds the brand equity (Davis, 2017).
Aaker Brand Equity Model: This model measures the brand value and the policies and
strategies which have been used for brand awareness towards the customers and the
client. It is important to give what is promised by the company to the customers
(Tanveer et al., 2016).
There are various elements of the brands which makes the brand unique compared to
the other features of the products.
The Loyalty of Brand: Brand keeps their loyalty by giving what has been promised to
the customer and by fulfilling it the company builds good relationship with the customers
(Francisco-Maffezzolli et al., 2014).
Brand Awareness: Brand awareness can be done to customers and clients by using
promotional strategy. This will help in making the people know about the company and
the brand (Huang et al., 2014).
Quality Perception: When the customer goes to purchase the products and services
from the company they have perception of the product that it will be good in quality and
quantity (Huang et al., 2014).
Brand Association: Association means making the other companies work with the
main company. Brand has the ability to attract other businesses to combine and work

with them. For examples Optimum Impression is the well known company in advertising
which combines different organizations in the same brand (Huang et al., 2014).
KEY COMPONENTS OF SUCCESSFUL BRAND STRATEGY
The value of the brand in the marketing term is known as Brand Equity. The perception
which is set by the customers for the brand and the experience which they had with the
brand builds the brand equity. If the customers have a higher thinking for the brand then
the brand will have positive brand equity and on other hand if the people had bad
experience and got disappointed by the brand then the brand equity will be negative.
With the perceptions of the customers when the brand actually fulfills it the brand equity
increase and when the brand equity increases it also helps in attracting other customers
from the market and also shows the loyalty towards the customers and the market and
the brand equity exists for long and throughout the years (Nam et al., 2011).
The sales of the brand also depend on the brand equity. Brand management is mainly
handled by the Brand Equity and there are three steps which help in building a strong
identity of the brand (Keller et al., 2019).
First – brining out and introducing an innovative and advance product with special
features in the market place and launch various products which enhance the brand
name and the products needs to be introduced according to the customers’ needs and
wants and even when their needs and wants changes (Nam et al., 2011).
Second – Making the customers know about the product and make them understand
about the specifications about the products. Even though the products will be different
but the loyalty and the quality should be same from the initial steps (Nam et al., 2011).
Third – Third the company need to make good relationship with customers and solve all
the queries and issues of the customers related to the brand (Nam et al., 2011).
M&S Group Plc. Need to follow all these steps and need to use various theories,
models and concepts to manage the brand successfully.

THEORIES, MODELS AND CONCEPTS- BRAND MANAGEMENT
One of the best models used for brand management is Customer Based Equity Model
which is also known as Keller’s Brand Equity Model. The main motive behind this model
is to build a strong equity brand which can help customers to make up the mind about
the brand and make perceptions, thoughts and various opinions towards the brand
(Vasileva et al., 2017).
Brand Identity: The first goal of the M&S Group Plc. should be to create awareness
about the brand of the company and make sure that it should explain how it stands out
of the crowd. Awareness should be in such a way that the people have right and
positive perception about the brand.
Brand Meaning: This defines the performance and the specifications of the brand which
includes the features like price, serviceability, efficiency, durability, etc. It also defines
the Imagery which is the social and psychological aspects.
Brand Response: It includes quality, credibility, and consideration that help the
customers to make the perception for the brand and these features are only judged by
the customers. It helps in analyzing what need to be changed to improve the area for
the perception of the customers.

Brand Resonance: This deal with the emotional attachment, loyalty behavior of the
customer for the brand and the attachment of the customers and engagement of the
customers to become regular. This helps M&S Group Plc. in bringing the best offers for
their regular client (Vasileva et al., 2017).
EXAMPLES WITHIN AN ORGANIZATIONAL CONTEXT
There are a large number of competitors in the market who are willing to do brand
management and increase their relationship with the clients and the customers. The
brand management can be measured that M&S Group Plc. faces many challenges and
it becomes difficult to understand the nature and desire of client’s with their brand.
There has been many changes in technology in the market and it has become more
advance so that the client demand more of their needs. M&S Group Plc. can use many
approaches to build the brand image and according to the research building brand
image consumes so much time of the company. This helps in organizational growth as
well as development of the industry.

PORTFOLIO MANAGEMENT, BRAND HIERARCHY, BRAND EQUITY
MANAGEMENT
As the survey and the reports shows that M&S Group Plc. has maintained its brand
equity and has maintained it for long enough but have been faced many challenging
situations and now M&S Group Plc. Needs to evaluate branding system and maintain it
to get good and better reputation of the brand (M&S, 2021).
Brand portfolio is one of the important aspects which need to be maintained by the
company. Brand Portfolio helps in maintaining the brand relation with the other aspects
which are price and quality of the products, customers and their needs and wants from
the company, etc. The brand of the company should be unique and the quality and the
quantity of the brand should be equally maintained from the first step. The better the
name of the brand in the market the better will be the working of the company and helps
in maintaining customer base. Brand Portfolio helps in proper business structure
maintenance and discipline which is needed by the company to provide support and
proper and successful implementation of the plans and organization objectives. Brand
portfolio is done when an organization is working in the market and has more than one
brand (Junior, 2018).
There are various strategies and theories for Brand Hierarchy which basically manages
the brand equity.
Product Need: Need and wants of the customers arises due to the interval of time. The
demand and needs of the customers arises according to the current market trend and
the company needs to imply the variations to fulfill the needs and wants of the
customers. M&S Group Plc. Takes care of the interest and desire of the customers and
satisfy by which the brand equity will be increased and help in expansion of the
business in very different way (Keller et al., 2019).
Product Family: M&S Group Plc. satisfies the needs and wants of the customers and
satisfy the needs and as a food and fashion company they are aware of the changing
needs and wants of the customers according to the change in the market and what

people tend to expect from the brand. It is very important for the company to build family
of various products which are different from other brands in the market (Keller et al.,
2019).
Product Class: Product class is the part of the Product family in which the organization
needs to maintain and learn all the concepts of the products which need to be
presented in front of the customers and the people in the market. People mostly judge
the brand based on the skills and imagery of the product (Keller et al., 2019).
Product Line: Product line is a set of various products which makes a brand within the
organization and the product line need to be created at the initial stage of the brand
management where the thinking power is created and the last comes if the
advertisement of it (Keller et al., 2019).
Product Type: Product type is influenced by the product line and there are various
methods of M&S which they imply to fit in the product and the product should standout
of the other products in the market and in the other organizations (Keller et al., 2019).
Brand Equity plays a very important in the success of the organization and the various
strategies which M&S Group Plc. Can use are as follows:
 Forecast the needs and wants of the market which will help the brand to understand
the trend of the market and it can help in noticing the trend and move accordingly to
fulfill the needs and wants of the customers.
 Preparation of market strategy which will be very helpful for the organization in
building the brand name of the company. It helps the organization in understanding
the needs and wants of the customers and also the interest of the customer in the
product of the organization. A perfect marketing strategy need be used by the
company to process the furcating of the demands.
 Proper product management is very necessary for the organization to remove all the
uncertainty and obstacles while doing marketing of the products and the brand of the
organization. Every products and actions should be traced and recorded in a correct
way so that each step is taken carefully and the raw material is used properly.

 The organization should mainly focus on fulfilling the orders and demand on time.
This will help in building the trust and relationship of the customer with the
organization.
 The product and service which is provided to the customer should be in a good
quality and quantity and it should be maintained from the initial stage of the
performance.
 The brand should use up to date technology and change accordingly to the change
in the market trend.
 The brand need to keep bring innovative and creative ideas and products to reach
the customer satisfaction and to retain existing customers and attract new customers
(Nam et al., 2011).

BRAND MANAGEMENT COLLABORATIVELY AND IN PARTNERSHIP-
DOMESTIC AND GLOBAL LEVEL
M&S Group Plc. has a wide Brand extension and leverage strategies. The company
faces large competition level and it is necessary for M&S Group Plc. needs to build
brand extension and leverage strategies to stay competitive in the market.
Brand Strength
The brand extension and expansion involves very minimal risk and is way cheaper than
other strategies and in this case the company can leverage the brand strengths which is
necessary for the brand to hold its existence and presence in the market.
Customer- Knowledge
By having a good and a brief knowledge about the taste and preference of the customer
and the needs and wants of the customers helps the business to strengthen the brand
of the company and this helps is customer acceptance of the brand and a new product
and this shows the positive sign for the brand extension (M&S, 2021).
Least Costs
The strategy building and using of the strategies involves low cost which helps the
organization to involve strategies like expansion of the existing brand of the company
and rather than launching new product. This will cost less to the organization and give
high success rate to the company (M&S, 2021).
Customer- Trust
By providing the customer with what they want and expect from the organization helps
in building trust of the customer on the organization. Quality and Quantity of the
products matters and the usefulness of the product plays a great role in building the
customer trust and once the trust is build it helps in organization to establish new
brands (M&S, 2021).