LO1 Demonstrate an understanding of how a brand is built and managed over time
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.
Unit 41. Brand Management (level 5)