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Strategic Brand Management - Assignment Example

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This paper "Strategic Brand Management" presents a management strategy including the development of brand name and logo. It discusses the basis on which the brand is to be valued, justifies their brand decisions and demonstrates the role of marketing in supporting their development proposals…
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Strategic Brand Management
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Extract of sample "Strategic Brand Management"

Download file to see previous pages A strategic plan and a brand management strategy are therefore essential for the ideal solution. YNR (Young and Restless) is one such company that needs positive brand management and the following methods are proposed for their strategic initiative.

The company is targeting young well-heeled clients who are spread across Europe and America. Plans are being made for expansion into Asian countries like India and China but the company wants to establish itself as a competitive brand before it undertakes any expansion. As the name implies, the target market is the young and the Restless for which clothing becomes a part of their own identity as much as their music, culture, and lifestyle. Expansion into a foreign market is also being held off since as recommended by Flint (2003), “There no place like home. No matter how exciting China is, no matter how exciting it is to acquire foreign companies, the heart of the business is always at home. He who doesn't protect his home market first is a loser (Flint, 2003, Pg. 114)”.

The products being sold by the company cover a wide range of formal, semi-formal and casual clothes but the largest sales figures come from the sales of casual attire. The basics sold by the company often carry the logo of the company which is a rendering of the initials YNR in different fonts. Overall the image of the brand is sporty, fun and casual so it has met with some success in the target markets yet it has failed to become a part of the mainstream. The competition provided by giants like Nike does not enable the company to become a casual apparel supplier for the masses.

Generally speaking, the marketing mix can be understood as the implementation of various marketing strategies that a company uses to sell its products so that the target market sees the product as desired. The product being offered in this case is casual and semiformal apparel and the target market is young men and women between the ages of 25-35 who are mostly already conscious about the sporty lifestyle. ...Download file to see next pagesRead More
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