Brand Management In SME

Although difficult to do, writing a compelling value proposition is a vital part of marketing a brand. Until leaders can state why their brand has value, how can they influence customer behavior with targeted marketing? One of the basic purposes of a value proposition is to determine the benefits their brand has for consumers. Another key aspect of a value proposition is linking the brand benefits to specific features of the brand. Leaders need to take the time to view their brand from the perspective of their targeted customer.

It is important to note that Porter’s ‘winning formula’ consists of selecting an industry to excel in, performing an analysis of its industry position, and maintaining this position to generate competitive advantage. The strategy here is to focus on the industry and outcompete rivals. The internal workings and assets of the firm is not of concern. As a response to Porter’s framework, the discipline of business strategy has developed a model concerned with matters internal to the firm. The resource-based model ignores the idea of the industry and focuses on how the unique capabilities and resources of a firm provide the basis for strategy.

In reference to Marks and Spencer, it is essential for organisation before making use of best-in-class benchmarking to measure organisational performance by analysing internal as well as external competition. It can be an integral part for improvement of organisation, however it is a fact that Marks and Spencer could not able to employ all the relevant strategies patented by competitors. But it can help in making appropriate business decisions as management will be aware of all the advantages as well as difficulties that lies in incorporating specific changes. It depicts that role of best-in-class benchmarking data play efficient role in decision making process which is dependent on the business requirements of Marks and Spencer (Shao L. P.,

Brand positioning is “act of designing a company’s offer and image so that it occupies a distinct and valued place in the target customers’ mind” (Keller, 2008). According to Keller brand positioning elucidate what the brand is about and what distinguishes it from the competitor’s brand. The goal of positioning is to make your customers understand why they should buy and use your brand. Start developing your brand’s position by defining the target market you are pursuing, the business your company is in or the industry it competes in, and by stating the key point of difference and key benefits of your brand in the market. Scott M Davis in his book “Brand Asset Management” describes the model of “Brand Value Pyramid” and it illustrates the

Goldratt believes that physical restraints are easier to identify. If the time constraint is overcome by company, another constraint will appear in store. Often appear market restrictions (when there is insufficient demand for any product), this situation sometimes makes managers think that the constraint is out of their control as they are only the provider of other’s products to the direct customer. On many other occasions, the constraint is self-created by the same management through the definition of internal policies. Goldratt, "hardly find a company with a real market restriction, as all are with ruinous policies marketing restrictions” (Oglethorpe and Heron, 2013).

OBJECTIVE The objective of the communication strategy is to change or reinforce behaviors and impressions of the key audiences of Wizz Air, primarily through earned media, employee communication, thought leadership and corporate social responsibility, to support overall corporate objectives. In more general terms, the objective of this strategy is to add context and meaning to what we do in order for our key audiences to act as we want them to act. We will add the why to the what, and to value quality over quantity. Notional Top Level Functional Communication

The Balanced Scorecard can be implemented in line with organizational culture and helps the firm to differentiate itself from competition. To successfully implement and sustain the scorecard, the firm should have a guiding rationale for the implementation. There should be executive ownership and buy-in of the scorecard. Since the scorecard is an agent of change, proper communication and training ensure staff understanding and keen interest for adoption. The firm should define its core purpose (mission), values, vision and strategy.

Marketing is an art to deliver messages and values added for products or services to the customer. Moreover, different messages should be delivered to different customers according to their needs. Thus, segmentation of customer in the market is requisite in order to fulfil customer needs and demand and to gain a competitive advantage over their competitor by satisfying the customer. In order to serve a particular segment of customer, identification of customer profile with its speciality characteristic is required to build a long-term relationship. The segmentation of market will lead a company to establish their brand and corporate image to the customer after targeting and positioning according to the specific portion of market.

However, the role of RNID varies depending upon the circumstances of the focus person and the extent to which the planning process is aimed before stating the process of service design. The RNID will then take into consideration the communication methods. According to a research that was carried out by Espiner (2011), In PCP, the RNID is required to help an individual communicate their point of view and dreams. Furthermore, they act as facilitators. The facilitation is guided by a philosophy that promotes self-determination for the person, that is achieved by positioning the individual as the core of the process (Espiner 2011).

I will identify the most influential points of contact in this journey and the key contact journey challenge. Lastly, I will propose a creative strategic solution and prototype this solution. A brand audit is an overview of the current position of the brand and the perceptions of the brand in the minds of the target