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Brand Management
April 2024 Examination
Case:
Rajesh, a passionate entrepreneur with a deep love for footwear, who envisions launching a thriving business venture focused on selling branded shoes across various price ranges. Rajesh’s dream is to establish the largest chain of shoe stores in major cities across India, providing customers with a vast array of high-quality footwear options from popular brands. Rajesh has always been an aficionado of shoes and has observed a noticeable gap in the market for a one-stop shop offering branded footwear at varying price points. After completing his business studies, he gained experience working for an established shoe retailer and sharpened his skills in retail management, inventory control, and customer service.
The Vision:
Rajesh’s vision for his new business is to create a brand that caters to the diverse and dynamic Indian market. He envisions opening a series of showrooms in the largest cities in India, where customers can explore a wide selection of branded shoes, ranging from affordable and trendy to premium and luxurious options.
Key Components of Rajesh’s Business:
Store Locations: Rajesh is planning to set up his biggest showrooms in major cities like Mumbai, Delhi, Bangalore, Kolkata, and Chennai. These locations are strategically chosen to tap into the diverse consumer bases and fashion-conscious populations of these cities.
Brand Selection: Rajesh understands the importance of offering a diverse portfolio of brands. His business will collaborate with both national and international brands, ensuring a wide range of styles, designs, and price points to cater to various customer preferences.
Variety of Price Ranges: Rajesh’s business will feature footwear in all price categories. From budget-friendly options for students and budget-conscious customers to premium brands for those seeking luxury and style, there will be something for everyone.
Customer Experience: Rajesh is passionate about offering exceptional customer service. His staff will be knowledgeable about the products and offer personalized assistance to help customers find the perfect pair of shoes. He also plans to implement loyalty programs and promotions to keep customers coming back.
Online Presence: Recognizing the importance of the digital landscape, Rajesh plans to establish an e-commerce platform to reach customers beyond the physical store locations. The online platform will offer the same range of brands and price options, making it convenient for customers to shop from the comfort of their homes.
Supply Chain Management: To ensure a steady supply of fresh stock, Rajesh will establish strong relationships with suppliers and implement efficient inventory management systems.
This will help in keeping stock levels optimized and maintaining a variety of styles for customers to choose from.
Marketing and Promotion: Rajesh plans to invest in marketing strategies that encompass both traditional and digital channels. He will collaborate with influencers, run social media campaigns, and conduct local events and promotions to create buzz around his stores.
Rajesh’s vision for his new business venture, offering branded shoes across all price ranges in the biggest showrooms in major Indian cities, is a compelling concept. With a strong business plan focused on location, product diversity, and customer satisfaction, he is poised for success in the dynamic and ever-evolving retail market. Rajesh’s dedication and strategic approach set the stage for an exciting and profitable future in the footwear industry.
1) You have been selected as a brand in charge of the business and you have been given a task to work on brand elements including brand name. Elaborate on various types of Brand elements and criteria for choosing those brand elements that you will suggest for the business. (10 Marks)
Ans 1.
Introduction
The task of creating a brand for Rajesh’s ambitious venture in the footwear industry is both challenging and exhilarating. A brand is much more than a mere name or logo; it embodies the essence of the business, reflecting its values, vision, and the unique experience it offers. The process of developing brand elements is crucial as these components will communicate the brand’s identity, establish its position in the market, and build a connection with the target audience. For Rajesh’s expansive and diverse vision of providing branded footwear across all price ranges in major Indian cities, choosing the right brand elements is imperative. These elements, which include the
2) As a brand expert, explain the four steps of Brand Building for Rajesh’s Business. (10 Marks)
Ans 2.
Introduction
Embarking on the journey of brand building for Rajesh’s footwear business, a venture poised to redefine the retail shoe market in India, requires a deep understanding of the intricate process of brand development. This journey involves more than just creating a visually appealing logo or an attractive marketing campaign; it is about forging a connection with the target audience and establishing a distinct position in the marketplace. The four steps of brand building – Brand Positioning, Brand Marketing, Brand Identity, and Brand Management – form the pillars of this process. These steps are essential in translating Rajesh’s vision into a
3) As a brand in charge of the business, explain your concepts on branding with example to
Rajesh:
a) Explain and relate the Information processing model of communication with the purchase of footwear for a consumer. (5 Marks)
Ans 3a.
Introduction
Understanding consumer behavior is crucial for effective branding and communication, especially in a market as diverse as footwear. The Information Processing Model of Communication offers a valuable framework for comprehending how consumers perceive, interpret, and act upon marketing messages. By applying this model to Rajesh’s footwear business, we can better grasp how
b) How will you promote the brand using tools of Marketing Communication?(5 Marks)
Ans 3b.
Introduction
In the dynamic and competitive world of footwear retail, the promotion of a brand is pivotal to its success. Marketing communication tools offer a myriad of ways to engage with potential customers, build brand awareness, and drive sales. For Rajesh’s footwear brand, utilizing these tools effectively can create a strong market presence and foster a loyal c
Dear students, get fully solved assignments by professionals
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