Unit 41 Brand Management Assignment Sample-BTEC-HND-Level 4 & 5

Course: Pearson BTEC Levels 4 and 5 Higher Nationals in Business

This unit helps you understand why brands are important and how they are made. You can also learn about measuring brand value and managing a portfolio of brands over time.

The unit is about how to manage a brand. It explores different tools and techniques for making a brand successful. It also looks at some case studies that show us how brands are managed in the real world.

Assignment solution on Brand Management in the UK

Brand management is the study and planning of a company’s brand identity, product branding, and marketing.

There are six objectives in one way or another related to all aspects of the market strategy, which are important to consider when managing brands; these being:

• Communication Strategy
• Demographic Strategy
• Product Strategy
• Price Strategy
• Activation Strategies
• Place strategies

The objective for every company in terms of brand management should be clarity in its communication messages, as such a clear communication message can make or break your business on how well it communicates.

Learning Outcomes

By the end of this unit a student will be able to:

Demonstrate an understanding of how a brand is built and managed over time

A company can build a brand over time. You need to use marketing principles like the 4 P’s philosophy.

The 4 P’s are Product, Price, Place, and Promotion. Successful brands start with a product that satisfies a need within its core customer group or ideal market which has already been identified.

Together with the right price at the right place promoting it to consumers is probably all that’s needed for success; through constant promotion efforts your product will most likely catch on in popularity leading to high sales and profits.

Naturally, there are several other important factors – production, research & development, advertising/promotion budget- which will also play key roles when bringing any business (not just brands) to profitability.

Analyze how brands are organized in portfolios and how brand hierarchies are built and managed

Brands are organized in portfolios depending on a company’s needs. There is no specific way to organize the company, and it all really depends on what the company wants from each individual brand. Companies are always trying to make money, so they want as many successful brands as possible that can bring in revenue and provide a service.

For example, Mcdonald’s will sell hamburgers and french fries under one umbrella; Burger King also produces sell hamburgers but they do not offer french fries – this means they have two successful brands whereas Mcdonald’s only has one.

Brand hierarchies are built and managed through a combination of marketing, product design, and business strategy. Agents understand that no single agent possesses complete responsibility for the gradual advancement of their respective brands.

In order to be successful in the real estate business, it is important to have a lot of people help you. For example, when you need feedback about your project, there are many other agents that can give it to you. You also need good communication with agents who are close and far away from your project. If you don’t work together well with them, then your campaign might not succeed. It is always better to take time with any important decision rather than impulsively make up reasons why something should work while simultaneously charging at a brick wall headfirst.

Evaluate how brands are leveraged/extended over time domestically and internationally

Successful brands can be nurtured and grown over time. This is true domestically as well as internationally. The brands of leading global companies have high scores. People know about them and are also considering buying their products. This is good because it means that people like to buy from those companies all the time.

Evaluate techniques for measuring and managing brand value over time

Brand value is the cost of doing business minus the cost of not having that brand in your business, less obsolescence.

Brand value is a measure of intangible assets that may have no use in a changing economy. Nevertheless, there are ways to monitor and control how much it would cost to replace an old or obsolete brand with a new one.

Brand “obsolescence” can be measured by considering two sets of data:

(1) the original purchase price for all investments made into it;

(2) The current scrap market value is more than you would get if you sold the same items without any goodwill from this brand.

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