Assessment 1 – Activity 4 – Brand Building

ASSESSMENT COVER SHEET

Course Name: Certificate IV in Business

Code: BSB40212

Subject:Introduction to Marketing

Evidence technique: In-class activity

Assessment No: 1 – activity 4 (Brand Building)

Weighting: 10%

Due Date:Week 8

Competency Title: BSBMKG414AUndertake marketing activities

BSBMKG413A Promote products and services

Student Name:___________________________________

Student Number:___________________________________

Student Signature:__________________________________

Date: _____/____/_____

Trainer Name: Antony Elmore

Description of Assessment

you are required to complete the following Activities

After you have completed your task, upload it to assessment 1 submission link via Moodle

The submission link will be found under Assessment submission links

Ensure to change the file name to your Student No Assessment 1 activity 3. For example, if your student no is 1234, your file name should be 1234_Assessment 1 activity 3

Plagiarism Statement

An intentional or unintentional Plagiarism is deemed by GCA as cheating and is completely unacceptable under any circumstances. It is required that all assignments be referenced using the Harvard System or other approved method advised by your lecturer.

Any plagiarism will result in a ZERO mark for that assignment. This includes the submission of assignments that are not the student’s own work or does not acknowledge the work of others.

By submitting this assessment in Moodle, you understand and agree to the plagiarism policy of GCA.

Assessment Task 1 – Activity 4

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The promotion of a brand is just ONE aspect of building brand equity. Achieving strong brand equity requires many components, but it can create significant value in the marketplace. The following exercise contains a number of checklist points for you to discuss regarding the building of, and the return on, brand equity.

 

ACTIVITY/TASK

Factors that may contribute to (or detract from) the building of strong brand equity:

Product range

Relative product quality

Points of differentiation

Retailers used

Retailer prominence

CEO profile

Media (mainstream and blogs/forums)

Word-of-mouth

Use of celebrities

Other brand associations

Visibility of the product

Social media ‘connection’

Social ‘status’ of the product

Entertainment or self-identity product

Market share (extent of popularity)

Perceived innovation

Perceived integrity

Success of new products

Sales + service staff

Target markets

Market coverage (global?)

Time in market

Competitive set

B2C or B2B only

Social responsibility

Competitor’s actions

Employee behaviour

 

Potential benefits that may be gained from strong brand equity:

Increased sales

Price premium

Customer loyalty

WOM and promoters

Perceived popularity and real visibility

More effective social media

Mainstream media attention

Retailer appeal

Point-of-sale merchandise uptake

Supplier bargaining power

Staff recruitment and retention

More energetic corporate culture

More skills and resources and capabilities

New product success

More product line extensions

Easier market development

Strategic alliances

More efficient marketing spend

Significant competitive advantage

Reduces threat of new entrants

Increased profits and stability of cash flows

Borrowing/capital raising

Stable cash flow and easier planning

Economies of scale

Improved price/earnings ratio

 

QUESTIONS

Review the list of factors that may contribute to building positive brand equity (list one). Which factors do you think would be the main contributors to a firm’s brand equity?

Strategy

A brand must have clearly defined objectives and tactics to achieve its strategy. The branding strategy defines the business a brand conducts, as well as how the brand will enter the market, gain market share and maintain a competitive position among its target market.

Communication

Walk into any business and you find workers creating e-mail messages, making presentations, reading trade journals, writing reports and talking on phones. A brand’s success depends on people communicating and working together to accomplish shared objectives.

Awareness

A brand may offer exceptional features and benefits, but unless the marketplace is aware of them, the brand will never generate sales. Awareness relies on strong content marketing strategy to build brand awareness.

Reputation

A brand’s reputation can be built or destroyed online, in person or in print.

When…

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