brand management

Topics: Competitor analysis, Competition, Brand management Pages: 3 (989 words) Published: March 29, 2014
Brand strategy is a long-term plan of decision making for the effective handling of a successful brand in order to achieve specific goals (Gunelius 2013). A well-structured brand strategy can affects all aspects of a business and is directly connected to consumers needs and want, and competitive environment. There are three basic elements to a brand strategy, which is where, are we now, where do we want to go, and how do we get there. A brand manager of a brand is responsible to all the lose and gain of customers. Therefore, the manager should do some analysis to understand more about the customers wants and needs today and keep improving to keep existing or attract new potential customer in the market for the brand.

Competitive analysis
Competitive analysis is defined as identifying your current and potential competitors and evaluating their strategies to determine their strengths and weaknesses. A competitive analysis is a vital and critical part of a company’s marketing plan. This is because we can start to figure out who and why we gain or lose customers to the most and have a better basis to plan for the future (Dawes 2012a). Moving on, a competitive analysis can also reveal the opportunities or threats to a company. For instance, looking broadly at competition might help a company to find other categories or product forms its brand could take on and steal some sales from. Volkswagen, big brand of cars, can use this analysis to carry out its brand strategy. The Volkswagen Group intended to place itself as a global economic and environmental leader among the other automobile manufacturers. One of the competitive analyses that can help the brand to achieve its goal is the two-purchase analysis. This form of data is like customer buys A then buys B and split out how many buyers actually switched from brand X to brand Y (Dawes 2012a). Firstly, the Volkswagen Group should start with carrying out a survey of new car buyers in Australia that asked about the...

References: Dawes, J. 2012a, Competitor analysis for brand managers. Working paper. Ehrenberg-Bass Institute, Univertisty of South Australia: Adelaide.
Dawes, J. 2012b, Customers, what you need to know and how you find out about it. Working paper. Ehrenberg-Bass Institute, Univertisty of South Australia: Adelaide.
Dawes, J. 2012c, How to construct a brand strategy. Working paper. Ehrenberg-Bass Institute, Univertisty of South Australia: Adelaide.
Gunelius S. 2013, Introduction to Brand Strategy – Part 1: What Is Brand Strategy? , viewed at 1st of September 2013, http://aytm.com/blog/research-junction/introduction-to-brand-strategy-part-1/
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Under Armour Case
  • Brand Management and Chilean Wine Essay
  • Essay about Marketing Management Case Study
  • swot Essay
  • Amy's Bread Brand Case Essay
  • Brand Positioning Essay
  • Red Bull Brand Audit Essay
  • The Power of Brand Name Essay

Become a StudyMode Member

Sign Up - It's Free