This assessment will cover following questions:
- Generate an understanding of how Cadbury organisation is built and managed over time
- Cadbury organisation is a chocolate brand mainly deals in selling tea, coffee and drinking chocolate. Evaluate how brands are organised in portfolios.
- Analyse how brands are leveraged/extended over time domestically and internationally
- Describe techniques for measuring and managing brand value overtime
Brand management is a activity which involves planning, implementation and controlling of various marketing programmes. It leads to analysis of planning regarding how a brand will be introduced in the market. A good marketing management leads to influence targeted consumers regarding a specific brand and eventually helps grabbing large market share. The effective brand management ensures that each piece promotion must use name of organisation and touch every promotional point to support organisational goals and objectives. The present project report is based on brand management of Cadbury organisation. It was founded in the year 1824 in Birmingham, England by John Cadbury. It is one of the well known multinational company and stands at second position in confectionery brand (Atwal and Williams, 2017). The organisation employees approx 80000 employees and operates at international markets. In this report branding as a merchandising instrument is described with primal components of booming brand scheme. Brand hierarchy and brand equity is mentioned and brand management at national and global level is elaborated. Governance and measuring of brand value is mentioned in the report.
Importance of branding as a marketing tool
Branding is a practice through which business organisations create a name, symbol or design of the business which make it easily identifiable as belonging to the company. Different areas are used for branding such as advertising, consumer service, promotional practices, reputation and logo. Continuous practice of branding is termed as an effective marketing practice that allows businesses to create a strong market value at market place. Branding helps businesses to introducing their goods and services to the general public and influence consumers towards to make a purchase (Beck, 2016). Cadbury organisation uses a effective branding strategy which acts as one of the most influencing marketing tool. Branding as a marketing tool is important and described for Cadbury is defined as follows-
Establishes good market image:
Through branding attractive logo and designing to the products are provided and this helps Cadbury organisation to generate more and more amount of recognisance in the market. Meaning logo create strong impression on consumers and Cadbury become successful in creating good market image.
Enhance market share:
This is one of the most important advantage that branding has provided to Cadbury. Attracting more and more consumers towards brands in national and international markets helps in acquiring large market share. Through branding new and old consumers and influenced towards products and which eventually leads to increment of targeted sales.
Create reliance in the marketplace:
A professional branding helps Cadbury to build trust among consumers and all the potential clients (Berndt and Hollebeek, 2019). As consumers are more attracted to a brand which is well recognised in the industry and trust leads to achieve all the set business goals as more consumers are grained.
Brands are created over the years by servings consumers with good quality and making the satisfied with their needs and wants. Brand development is a continuous process and achieved over the years by establishing good communication skills and effective marketing strategies in some time duration. In order to evaluate the development of brand a brand pyramid needs to be established. It is a model that explains all the steps taken by consumers in order to establish faithfulness to a specific brand. It is a structured manner through which various strategies used by Cadbury organisation in branding process is defined.Cadbury enjoys a very high brand recognisance all over the world. As consumers all over the world like the purple colour and get attracted towards its branding and its feature of providing it particularly for some special occasions (Bieger and Sonderegger, 2017). A well established brand pyramid provides the business answer of most of the questions related to marketing and branding and this make easy communication among all the business organisation.
Key Components of a Successful Brand Strategy for Building and Managing Brand Equity
Brand assets is a merchandising term which defined worth of brand determined as per consumers perception. Keller's Brand Equity Model is used to analyse the right type of experiences for the brand name. It is termed as one of the key component that leads to successful branding strategy for carry off brand equity (Keller's Brand Equity Model, 2020). Following this model Cadbury has initiated all the efforts so that specific, positive thoughts, feelings and beliefs are created among consumers for brand. This facilitates organisation to charge high price over others for their brand name. The Keller's Brand Equity Model for Cadbury is elaborated as follows-
Source: Keller's Brand Equity Model, 2020
This is the initial stage in state to make and establish a brand equity and performed through generating awareness regarding the brand offered. Branding is done by Cadbury in such manner so that brand is stand out form the competition and more awareness regarding the product is created. For example- different range of the product is related to each festival, achievement or relationship of an individual and this leads to generate a brand identity of the product.
At this stage communication is made regarding brand means. It is analysed on the basis of execution and imagination (Buil, Martínez and Matute, 2016). Performance defines how well product satisfies consumers needs and wants. Reliability, durability, design and style as per price is evaluated. Imagery measures satisfaction on social and psychological level. Products offered by Cadbury make the organisation to achieve brand managing. For example- this organisation using strategy of relating their products with culture of a nation and that leads to generate high amount of satisfaction among general public.
Response of consumers regarding Cadbury can be judgements and feelings. As consumers can judge a product on the basis of quality offered, price charged and market image of the brand. Consumers also can response for the product through explaining how they feel about the product.
It is the highest stage of brand equity pyramid and quite challenging to attain. In order to reach to such stage Cadbury by following the model needs to generate behavioural faithfulness, attitude affection and active appointment with employees. This will help to pull and contain various consumers for long time period. To know consumer response various methods of feedback form consumers are used to know their true and fair feelings (Chernev, 2018).
Brand equity needs to be strengthen on continuous basis and in this relation certain stapes needs to be taken by Cadbury organisation which are as follows-
- Generate Brand Awareness: As market of Cadbury keeps on expanding and this leads business to generate brand awareness at national and international level on continuous basis.
- Understanding consumers preference: Cadbury needs to consider changing taste and preference of consumers in different regions and make them satisfied to enhance brand equity.
- Create Two-Way relationship: Cadbury can charge high price and attract more consumers when providing valuable in consideration. Two way relationship needs to be established so that brand equity can be created.
- Gain customer loyalty: It is one of the key tool for high brand value of Cadbury organisations as consumers from several years are loyal and connected to the same brand.
In the competitive business en1_1579956063vironment situation of crises arises quite frequently for Cadbury and in order to avoid them-
- A plan is set to deal with the crises.
- All the issues are acknowledged.
- All the tools that are helpful to minimise the crises are used.
- Response to the situation is identified and actions will be taken to cope up with variance.
Situation of Crises in Cadbury organisation is filled with some of the effective strategies that are used for recovering and restoring the brand name (Chinomona, 2016). Some of the strategies are as follows-
Trans-media branding: It is a method which is used to communicate with various consumers using different means and channels. Communication takes place with media so that large amount of target market can be influenced. Cadbury has used and is continuous using social media and online media for establishing its brand image.
Individual Branding: Cadbury in order to improve its brand value perform branding for its individual products which are unique in nature. This type of branding moves organisations towards creating good brand image.
Evaluate How Brands are Managed Successfully Over Time Using Application of Appropriate Theories, Models and Concepts
The management of Cadbury organisation brand equity is achieved over the period of time and in order to evaluate this different models and theories are used which are as follows-
Colombo Morrison Model
This model reflects brand loyalty of the consumers. Analysis is made on the basis of most preferred brand of different consumers in some of their last purchases. As per this model cadbury possess highest brand loyalty of 37.74%. This model do not consider brand loyalty based on price fluctuation.
Van Westendorp Price Sensitivity Meter
This model determines optimum price range for Cadbury organisation. A survey is conducted for determining optimum pricing of the product. This helps in developing a effective pricing strategy for business and helps in establishing a brand equity.
Brand Leveragability Model
This model determines elasticity of the brand and specifies some categories suitable for the brand to make extension in the product offered (Kavaratzis and Hatch, 2019). Cadbury is specified with some range to make extension and do not launch some high risk products.
Apply Appropriate and Validated Examples Within an Organisational Context
Application of CBBE model on Cadbury organisation will be made in the following manner-
Brand Identity: Cadbury is dealing in produces which are marketed in the retail industry and good amount of research is made to identify target market. A huge target market is selected in order to establish brand.
Brand Meaning: A best suitable model which helps in establish a good relationship among business and its consumers is adopted by Cadbury organisation. Feedbacks form consumers help them in realising their needs and developing products to satisfy them in best manner.
Brand Response: Cadbury organisation using modern technologies so that high quality can be adopted. This generate a positive public response for the products offered by them.
Brand Resonance: Administration is serving its consumers with some gifts and privileges as a token of loyalty. This motivates consumers and enhances brand equity.
Different Strategies of Portfolio Management, Brand Hierarchy and Brand Equity Management
Brand portfolio is termed as a accumulation of different brands that belongs to one business (King, 2017). Each brand make their own strategies to get establish in the market and follows their own operational structure. Brand portfolio management is one of the important activity performed by business organisation as it facilitates each brand form shared resources and cross-promotional opportunities available in the portfolio. Cadbury organisation is dealing with large number of products which makes its portfolio quite large but the logo used by the organisation helps business to generate its good public image form that of the others. Their are two portfolio strategies used by Cadbury organisation in order to effective management. These strategies are determined as follows-
In this strategy effective assessment is made in relation to portfolio available in the market so that a competitive advantage can be enjoyed over others businesses. This is initiated by Cadbury organisation as-
- Quantitative analysis of the competitors in the industry are made so that effective strategy in relation to success of the brad can be established (Ofek and Schwalb, 2018).
- Brand portfolio of Cadbury is quite diverse and this enhances scope for business success.
This market strategy adopted by Cadbury organisation so that requirements of the market are meet instead of competing within the same. This is used in Cadbury as follows-
- Portfolio management of Cadbury is performed in such manner so that long-term trading can be performed in the most impressive manner to enhance the scope.
- A wider portfolio of Cadbury helps to minimising the risk and leads to diversion with index fund management.
A brand hierarchy is a method through which combination of the branding strategy by representing the figure and cause of ordinary and classifiable brand elements across the products. Some of the brand hierarchy strategies used in Cadbury organisation are mentioned as follows-
As per this hierarchy strategy administration acts as a brand and all the products are sub-set of the brand name. In this hierarchical system no product is low-level with the primary brand of the institution (Paul, 2019). This also helps in establishing a good brand image of thye company.
House of Brands:
In this approach portfolio of the company are provided with different brand name. Focus is provided on sub-brands for marketing. It is a complex model and made difficult to market a product in long run.
Cadbury organisation has adopted Branded House hierarchical strategy as all the commodity presented by the administration are served in the name of Cadbury. It is easier for the organisation to brand the name of whole organisation instead of branding of different products. For example- products served by Cadbury are named as Cadbury silk and Cadbury Oreo which makes the brand name more renowned and brand hierarchic is maintained in most effective manner.
Methods of hierarchical building are defined as follows-
It leads to promoting a specific brands available in the corporate world for their specific goods and services. This leads to bind various consumers to business.
As per this branding strategy branding is initiated for a single brand name and sale are made for various products related to the same brand.
It refers to the branding strategy that boost family of goods or services available under one umbrella brand. This minimises individual branding and maximises effective utilisation of resources.
Market research is termed as a key brand management tool because all the information required to manage and operate good brand image is available in the market (Punjaisri and Wilson, 2017). This market research helps business organisations to grab required information which assist in effective branding of the commodity offered under their brand name. Level of rivalry is analysed in the market and effective branding as per market demand is performed so that business can become more successful.
Critically Analyze Portfolio Management, Brand Hierarchies and Brand Equity using appropriate Theories, Models and Frameworks
All the detailed information provided in terms of portfolio management, brand hierarchies and brad equity is effective and required in order to carry off business dealings and effective branding. Business managers make effective analysis of various models and concepts and implement the most suitable among them as per business objectives of Cadbury. A effective model used in the business helps to manage brand over the period of time and leads to effective establishment of company at national and international market place (Urde, 2016). Consumer Base Business Model helps in generation of meaningful market strategy for business and its effective implementation generates good amount of profits so that comparative advantage can be achieved.
Brands Leveraged/extended Over Time Domestically and Internationally
It is the scheme which is utilised the quality of an present brand name to aid a organisation's entry into a new but linked with product category by communicating precious product data to the consumer. Cadbury is multinational confectionery organisation and cover large market area. Through leveraging provide supports to company brand name in new or existing market. With the help of this customer gain different types of information that related with the products and services and influence them to purchase product and attracts for an organisation. If Cadbury is not able to leverage its brands so it become critical to impress customer for their products and they will not be able to collect data regarding it. Brand extension is utilise to set up brand name for particular product or new product category that leverages the reputation and popularity of Cadbury.
Therefore, there are different techniques in context of Brand leveraging and extensions which are mentioned underneath:
It is a technique which is applied by Cadbury to introduce new product in existing market or for potential who do not currently purchase from company.
It is effective marketing strategy in which already identified brand tap into unmatched category using same brand name.
The particular technique is selected by the Cadbury to cover large market and meet more customers who likes chocolates and increase base of users. The main aim to offer different options to customer.
The main reason of brand extension to leverage on the present brand equity.
In both segments have different merit and demerit so for this required to Cadbury effectively leverage on their brand. For this require to firm continue applying line extension as effective technique that supports to attract customers for their product and increase awareness.
Fit and leverage in brand extension
Fit and leverage enables to measure user influence intent before devising an investing in brand extension. It provide different advantages to entire group and organisation who simply put the same logo on a various product each year. In the Context of Cadbury use this to measure customer interest and bargaining power of purchasing. After that company prepare effective strategy to influence customer regarding to products. Domestic extension involves serving goods and services to all the cities available in the national boundaries. While serving at international level leads to providing goods and services in different nation.
1. Brand Collaboration and Partnership agreements
- Collaborative agreement: According to this agreement two or more organisations are coming together and work on a particular project as per the reason of acquiring long term organisational aims (Veloutsou and Guzman, 2017). To become fantastic in competitive market require to adopt right option by Cadbury and collaborative with any other business for particular financial year.
- Partnership agreement: As per the this agreement two or more entities come together and accept the concept of conducting business activities in partnership. In context of domestic agreements face different types of problems and require to follow food safety act that set by UK government. The advantage of domestic level in which organisation would be experiencing and supports business to attract customers in positive manner.
2. Global branding and positioning:
- Global branding: It is the act of market that applied for the products or services with the same name like Cadbury use own brand to tap into international market to enhance sales and productivity.
- Positioning: It is a effective strategy that involves the strength and weakness of a company where require to customer and market analysis the position of competitors.
Critically evaluate the use of different techniques used to leverage and extend brands
Strength could be leveraged:
- It is largest strength of Cadbury that have good brand image and offer different options to customers. They are applying effective promotional strategies to increase sales and allow the firm create promotional campaigns.
- The strength of the company Cadbury conduct business operation across nation and markets. Selected brand has been rather suitably positioned as per the market activities since has powerful market existence.
Weakness could be leveraged:
- It is one of the biggest weakness related with an organisation is that charged confectionery items are not effectively desirable by masses that are disposed in regards of health consciousness.
- Another weakness of brand that it overcome the same and brand must select line extension in order to offer innovative products but it is not working effectively due to have different taste of customers.
Analysis Techniques for Measuring and Managing Brand Value Over Time
Measuring and managing brand value
It is defined as commercial enterprise worth or forecasting the fiscal value of brand. A brand value of any organisation presents affect on the profitability that generate by organisation in particular year. A company always try cover large market to meet with more customers because customer helps to made brand. To gain loyalty company uses loyalty app that helps to collect data about the customers.
Brand measurement techniques
Brand awareness:It is defined that brand is identified by consumer for a specific products or services. It is required to enhance cognisance in between consumers about product by examination it with others product. Brand awareness depend on the economic trench and enhance sales of business. Cadbury organisation have one of the best brand awareness strategy as its advertising and strategy for relating the products with feeling make this chocolate brand one of the well known all over the world.
Market share:In this procedure an organisation predict its sales and analysed all past activities with detailed information. The market share indication utilised by the Cadbury in order to examine market share. The profitability of business based on revenues and market share consist of information about the market rather than company. Grabbing largest market in various countries helps in generating large market for sales. This large share make the organisation huge and highly competitive.
Consumer attitudes:The attitude of customer based on the customer purchasing or not. The users are judging the powerfulness of marketing operations. Consumer attitude is accumulation of other beliefs , intentions and feelings .
This type of profitability where consumer will purchase the product or not. As per the predication of marketer analysis all past records or different plan of action. The particular method is very unsafe which is depended on the assumptions. As per the customer relationship management Cadbury collect information about customer taste & preferences and use social media without any alteration (Wider, von Wallpach and Mühlbacher, 2018).
Brands Equity Audit and Management and Brand Tracking Techniques:
Brand equity Audit is defined as examination of current market position of a brand in comparison to its competitors. It leads to generation of a review of effectiveness. This helps to analyses Cadbury organisation regarding the perception of consumers regarding the value that a brand possess.
Brand tracking is a technique leads to continuous tracking health of a brand in terms of consumer usage and for what consumer thinks about the product. This is analysed using set standards of the product offered and after that variance in actual and target is analysed.
The relationship between branding and finance:
Branding and financial performance possess a positive relationship among themselves i.e. both the terms will more win the same direction with ant of the factor introduced. A product offered under well established position of business with recognised branding then chances for success is high. This reflects that generation of more and more amount of finances are made through good branding. A effective brand image will improve sales and amount of revenue in business will increase.
Concept of brand value and different approaches:
This concept is concerned with the cost in creating and replacement of the brand. Different types of cost is concerned in order to access brand value of the product offered.
This approach deals with the amount at which a brand is sold and related to the highest value. This approach is used when a brand is sold in the market and amount that buyer is willing to pay is accessed to identify the accurate pricing.
This approach is the valuation of future net earnings directly attributable to the brand to determine the value of the brand in the current use.
Critically Evaluate Application of Techniques for Measuring and Managing Brand Value in Relation to Developing a Strong and Enduring Brand
Brand value is one of the most important concept and establishment of a good brand value takes years of hard work. Brand value is directly related to developing a strong and enduring brand image. Their are number of techniques available in the market and brand manager of Cadbury preferred income based branding approach to measure market value of the brand. This helps to analyse actual value of the brand as per set standards of the industry. This will also help to analyse that effective brand image of the business in the market.
From the above project report it has been concluded that brand management is one of the important concept as per the current business environment. In order to achieve success and enjoy sustainability each business organisation needs to establish a good brand image in the market. This will help to become business well recognised and expansion of business to different markets become easy and smooth. The concept of brand portfolios, brand equity and brand hierarchic ensures that required amount of strength will be introduced to the business. Managing a good brand image will facilitate effective collaboration and partnership business so that scale of operations can be enhanced. Using of different techniques to measure a brand value helps to identify the brand value available to business which can be encashed through sales and become one of the tool for generating finances for business as and when required.
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