Develop a brand extension strategy (in report format) for a business of your choice…. 1 answer below »

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  • ASSIGNMENT QUESTION As a brand management consultant, you are required to develop a brand extension strategy (in report format) for a business of your choice. You are encouraged to choose a brand within an industry that you would like to or already work in. Your plan should include: 1) Cover page and Executive Summary 2) Table of Contents 3) Introduction: this should introduce the report, not just the business or key topics. 4) Brand Audit: this should include your analysis of: a. Current market share and major competitors b. How the brand’s products and services are currently marketed and branded e.g. brand elements/artefacts; product attributes or characteristics of the brand, pricing, communications, distribution policies; brand positioning, segmentation, targeting 5) Product/Service Idea: based on your analysis above, describe and justify why your new product/service is an attractive market opportunity. This should include an overview of your product/service idea, perceptual maps, target market, and key competitors in the new category 6) Brand Proposition: based on the opportunity identified above, this should include your unique selling proposition, brand values, brand personality, brand identity/visuals and you should demonstrate how these are mutually supportive 7) Brand Execution: This should provide an overview of your price, place, and promotion strategies for the extension as well as discuss how these will support your brand values, personality, and identity 8) Measurement: Suggest and justify appropriate brand measurement techniques for your new brand launch. 9) Conclusion: Draw out the main implications of your work 10) References Your work should pay specific attention to how your existing brand equity and brand elements/assets can be leveraged to successfully launch a new brand extension. ASSESSMENT CRITERIA • Demonstration of the requisite knowledge and understanding of the discipline, its theory, and ethical issues to enter a graduate level brand management role. • Demonstration of an ability to manage learning resources, provide clear structure and accurate expression, as well as originality and imagination within the brand management field POINTS TO CONSIDER Your work should demonstrate critical application of academic theories and models as well as industry best practice. This should be evident in the writing and strategies that you produce.


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