Assignment 1: How Brands are Built
Introduction: IMC focuses on using communication processes and tools to build relationships between a brand and the target market of an organization, specifically those relationships that create and strengthen brands. Your course textbook and modules are intended to help you understand the principles and practices of marketing communication in an integrated way, with the objective of retaining existing customers and increasing the number of new ones.
In Module 1, you reviewed various marketing communication functions and learned the importance of brands, integrated marketing communications, and other customer-focused approaches essential to integrated marketing communication.
The purpose of this assignment is twofold:
• First, to demonstrate your understanding of the key integrated marketing communication and brand terms and concepts discussed in Module 1
• Second, to demonstrate your ability to apply what you have learned so far by doing a brand audit for the consumer brand/product for the IMC plan and submitting a proposal that explains why you think the market position of the brand needs to be improved.
Depending on your choice of a consumer product from an established company with an established brand and target market, you should be prepared to visit retail outlets and other locations to explore how the consumer product/brand is reaching its target market. In addition, you also should be prepared to research the online presence of the consumer product/brand on the websites and social marketing sites that it uses. You may also interview colleagues, friends, and family to determine how the consumer product/brand is reinforced within the marketplace.
Instructions: Important: In answering the following assignment parts, it is critical to justify your answers. Grading is weighted heavily in favour of answers that refer back to or reference the course materials including concepts, terms, relevant information, and other outside sources. It is important to demonstrate your knowledge and understanding of the course materials in your reasoning about and application of them.
Part 1: Proposal
Provide a description of the company and its brand/product, its marketing mix (product, price place, and promotion), its product category, and its direct competitor.
Suggested length for Part 1 is one page.
Part 2: Introduction to Brand Audit
Complete a brand audit and determine what factors contribute to the performance and equity of the brand. In this audit, you must address the following:
1. What is the core proposition (intention) of the brand?
2. What do the stakeholders think about the brand?
3. In what marketing mix activities are the direct competition involved in that influence your brand? Provide detailed information about these communication and promotional activities, such as the offering of new brand extensions, promotions, co-operative advertising, sponsorship, etc.
Suggested length for Part 2 is one to two pages.
Part 3: Brand Audit
Perform a brand audit, by providing the following information about your brand's:
1. Target market segments
2. Differentiation points
3. Positioning
4. Relevance
5. Identity
6. Relationships
Suggested length for Part 3 is one and a half to two pages.
Part 4: Conclusion
Now that you have completed the brand audit, explain why you think the market position of the brand needs to be improved by strengthening the brand equity and improving the integrated marketing communications strategy.
Suggested length for Part 4 is two pages.
Part 5: Report Structure and Presentation
Ensure you structure and present your assignment in formal manner suitable for business.