Unit 41:            Brand Management

Unit code         F/508/0600

Unit level         5

Credit value     15

Introduction

This unit gives students a comprehensive overview of brand management − starting with why brands are so important and how they are formed, through to measuring brand value and managing a portfolio of brands over time.

The unit is designed and structured to give students an end-to-end understanding of brand management. It explores a range of tools and techniques that can be employed to maximise brand value, while looking at a number of case studies that contextualise information within real-world examples to aid understanding of how effective brand management can be achieved.

Learning Outcomes

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

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

2.    Analyse how brands are organised in portfolios and how brand hierarchies are built and managed

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

4.    Evaluate techniques for measuring and managing brand value over time.

Essential Content

LO1 Demonstrate an understanding of how a brand is built and managed over time

Building brands:

·         Present an overview of brands and how they are developed, the use of the brand pyramid.

·         The advantages of branding for organisations, consumers and intermediaries. What is brand equity?

·         How do organisations develop and grow brand equity?

·         The role of marketing in building brand equity and brand positioning and techniques.

Managing a brand over time:

·         How to strengthen brand equity, brand extensions, reinforcing and revitalising brands through innovation.

·         Overcoming brand crisis, transmedia branding and specific communication strategies for recovering and restoring a brand.

·         Interacting with customers: exploiting converging technologies to engage customers.

LO2 Analyse how brands are organised in portfolios and how brand hierarchies are built and managed

Portfolio and hierarchy management:

·         Brand portfolio strategies, including the house of brands and branded property models.

·         Hierarchy building: corporate branding, umbrella branding, family branding, endorsed sub brands and individual product branding.

·         How brand equity is built at different levels of the hierarchy.

·         Using the customer based brand equity model to develop and manage brands. The use of market research as a key brand management tool.

LO3 Evaluate how brands are leveraged/extended over time domestically and internationally

Brand extension and leverage:

·         Brand extension approaches and strategies. ‘Fit and leverage’ in brand extensions.

·         Determine the different ways that brands can be reinforced and revitalised. Brand collaborations and partnerships.

·         Global branding and positioning.

LO4 Evaluate techniques for measuring and managing brand value over time

Measuring and managing brand value:

·         Different brand measurement techniques for measuring brand awareness, market share, consumer attitudes and purchasing intent.

·         Brand equity audit and management and brand tracking techniques. The relationship between branding and finance.

·         The concept of brand value and different approaches: cost, market based and financial based methods to brand valuation.