Reference no: EM133450246
Unit 41 BRAND MANAGEMENT - PEARSON BTEC HIGHER NATIONAL DIPLOMA IN BUSINESS
ASSIGNMENT - MANAGING AND MEASURING BUSINESS EXCELLENCE
LO1 EXPLAIN HOW BRAND IS BUILT AND MANAGED OVER TIME WITH THE IMPORTANCE OF BRANDING AS A MARKETING TOOL AND WHY AND HOW IT HAS EMERGED IN BUSINESS PRACTICE.
LO2 ANALYSE HOW BRANDS ARE ORGANISED IN PORTFOLIOS; HOW BRAND HIERARCHIES ARE BUILT AND MANAGED
LO3 EVALUATE HOW BRANDS ARE LEVERAGED/EXTENDED OVER TIME DOMESTICALLY AND INTERNATIONALLY
LO4 EVALUATE TECHNIQUES FOR MEASURING AND MANAGING BRAND VALUE OVER TIME
SCENARIO
The purpose of branding is to simply and easily help your customers understand what you offer and how you're different. But it's not only a USP (unique selling proposition), it is the combination of all the ways you communicate what you stand for.
Study the contemporary business market and the brands they have to offer. Research a wide range of brands and their competitor brands from different industries. Select one organisation for an in-depth analysis.
TASK 1
In a report, give an overview of brands and how they are developed. Enhance your answer with examples from a variety of organisations. What is brand equity; explain the role of marketing in building brand equity and brand positioning; stress the importance of branding for organisations, consumers and intermediaries. How do organisations develop and grow brand equity? Select one of the organisations from your market research, and evaluate the brand equity of chosen organisation, using appropriate models and theories. You might have to conduct a market survey to get an objective understanding of the perception of this brand. Design a survey to cover more than one age-group and socio-economic class. Analyse the results of your survey.
Analyse in detail the key components of a successful brand strategy for building and managing brand equity. Based on your analysis of results, review the brand strategies available to grow this brand and recommend the most appropriate for this organisation. Conclude by critically evaluating the concept of brand story within the context of selected brand for understanding the importance of branding in achieving strong brand positioning over time justify your argument with comparative brand examples.
Define and explain the terms portfolio management, brand hierarchy and brand equity management, and analyse the different strategies available for each. Critically analyse the strategies being used by your organisation within each of these concepts.
TASK 2
Produce an essay based on your study of the contemporary brand market. Evaluate how brands are managed collaboratively and in partnership both at a domestic and global level. You will have to conduct secondary research of the successful and unsuccessful examples of brand alliances locally and internationally, generating a critical and comparative evaluation of the techniques that led to the fate of these ventures. Recommend the different techniques that could have been used to leverage and extend one of the unsuccessful ventures from your examples, adapting good practices from the successful ones.
Identify how a brand's performance can be measured and evaluated, using examples of researched organisations. Further, analyse which of these are strong brands. How can measuring and managing strategies/techniques help an organisation to promote an enduring brand (use more than one organisation for examples). Critically evaluate the application of these strategies with reference to these organisations.