Give an introduction and overview of brands, how they are developed and built, using a variety of organisations to enhance your answer. (P1)
Give an explanation of the difference from marketing and the importance of branding as a marketing tool. How has brand become so powerful in business? What are the advantages for organisations? (P1)
P2 Analyse the key components of a successful brand strategy for building and maintaining brand equity
Examine the key components of a successful brand strategy for building and managing brand equity. In other words – explain what is meant by brand equity and explain the strategies (as outlined below) used to build and manage the brand and brand equity, giving some examples.
Brand strategies include:
• Brand name;
• Brand Extensions
• Brand Positioning
• Rebranding
• Brand Reinforcement
(The P criteria is more general so use examples from a variety of organisations to illustrate your answer, but you can use Superdry)
MERIT CRITERIA
Evaluate how brands are managed successfully over time using appropriate theories, models and concepts (for example CBBE and Aakers Brand Equity Model). Use Superdry as well as other examples (M1).
Analyse brand strategies (discussed in P2) available to grow and manage the brand and recommend the most appropriate strategy for Superdry and compare with other brands. (M2)
LO2 – Analyse how brands are organised in portfolios; how brands hierarchies are built and managed (SAMSUNG)
PASS CRITERIA
P3 Analyse different strategies of portfolio management, brand hierarchy and brand equity management
Define and explain the terms – portfolio management; brand hierarchy and brand equity management. Analyse the different strategies (House of Brands, Branded House, Endorsed Brands) (P3), in other words:
What is portfolio management
What is brand architecture, hierarchy
How is brand equity is managed in portfolio.
You then need to analyse different strategies. How do businesses manage their brands depending on whether it is a house of brands, branded house or endorsed brands or uses some sort of hybrid
MERIT CRITERIA
Critically analyse portfolio management, brand hierarchies and brand equity using appropriate theories, models, frameworks (M3) and draw conclusions on the importance of good portfolio management. Apply to Samsung and other examples to illustrate your points
What are main issues, challenges etc in portfolio management (which includes brand architecture, ie structuring brands into hierarchies with corporate brand at the top and inter-relationships between brands). Does it depend on the number of brands and sub brands?
How to maintain good portfolio management through BM and PLC and market research. Apply to Samsung and compare to other business to illustrate your points
What are the issues and challenges of managing and building brand equity at different levels of the hierarchy – what does it depend on? How do Samsung build and manage brand equity?
