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Assessment
2: 2,800 word Assignment
Propose a collaboration idea for a brand of
your choice, this collaboration will launch only in the UK and should be
developed to help strengthen the brand's overall identity.
You
should consider the following;
1. Conduct a SWOT on your brand
2. Explore the key competitors of your brand in
the UK: Develop a brand positioning map to highlight your brand's current
position in the market compared to it's direct competition
3. Examine the most important PEST (Political,
Economic, Social Technical) factors influencing your brand in the UK. Only
include factors that are directly affecting your brand. Use evidence to support
your inclusions
4. Explore and propose a new Collaboration for
your brand (using competitors own strategies and further research to justify
your idea)
5. Rationale - Explain why the new proposed
Collaboration will complement and not damage the overall image of the
brand
6. Justify - Comment on the risks that may be
involved in the new Collaboration and show how your brand will overcome
these.
7. Reveal how the brand will launch the
Collaboration in the UK market. Use examples to support your idea.
8. Include a conclusion (around 100-200 words)
Make
sure that you credit all images (or number them and use a image credit list
after the bibliography)
I
advise you try to use some images.
You are
required to select a collaboration brand of your choice, this means, look for 2
companies that can collaborate and come up with a common brand that will
be launched in UK. So, in answering all the above sections, you will be basing
the ideas on the NEW BRAND
ASSESSMENT
CRITERIA
Management of Information & Research Techniques 30%
-Manage collect and organize data from a range
of sources
-Formulation of clear research strategy with
evidence of wider reading
Problem Solving & Decision Making 30%
-Evidence of the application of marketing
methods and tools to the brand or market sector
-An understanding the complexity of the issues
and evidence of creative solution to solve a problem
Numerical and analytical 10%
-Evidence of basic data analysis
Communication 15%
-Appropriate communication in a business report
format
-Presentation of the report
-Clarity, accuracy of grammar and spelling
-Harvard Style of Referencing
Organisation 15%
-A good level of Attendance
-Responsibility of own learning with appropriate
support
-Professionalism within the learning
environment and participation in activities
https://blog.hubspot.com/marketing/best-cobranding-partnerships
COLLABORATIVE BRAND IN FASHION MARKETING
By (Name)
The Name of the Class (Course)
Professor (Tutor)
The Name of the School (University)
The City and State
The Date
Collaborative Brand in Fashion Marketing
Introduction
Collaboration branding (co-branding) refers to the
marketing strategy that entails a strategic alliance between two or more
independent businesses to promote a particular product or service jointly. It
involves different modes of marketing efforts such as advertisements, sponsorships
or product promotion. Usually, the association is beneficial to both the brands
when working together as opposed to individually. One of the most significant benefits
of co-branding initiatives includes the prospect to introduce products to a new
target market. This situation is precisely what popular British fashion brands;
Alexander McQueen and Burberry plan to do in 2020. Together, the two luxury fashion
houses will launch a new collection of low-priced denim products that will be
known as Van Dijk, which will target young people. This strategy will allow the
two companies to increase their cost savings, perceived value, brand image,
customer loyalty, market share, profitability and customer bases.
SWOT Analysis
A SWOT analysis reveals how Van Dijk will perform
against the competition. The analysis tool enables Alexander McQueen and
Burberry to understand where the competitiveness of the brand. A proper examination
of the product line should involve its presence in the United Kingdom fashion
industry. The analysis suggests the following aspects:
Strengths
·
Affordability:
The products will be of high quality and pocket-friendly.
·
Accessibility:
Both fashion houses have a significant presence in the country. The end user will
purchase the brand through various retail and wholesale channels.
·
Hit-the-trend
styles: To attract the attention of young people, Van Dijk
will offer the trendy global fashions.
·
Numerous
choices: A
diffusion line will produce the brand that will provide the end-user with
different options of denim-made clothing.
Weaknesses
·
Difficult
to manage: The product line will involve a significant number of
employees, store spaces, and range of products that will create specific management
problems. According to Miller and Mills (2012), difficulty in administration
negatively impacts the co-branding initiatives due to the high costs of
operations.
·
Accessibility: The higher levels of
availability will take away the exclusivity and uniqueness associated with Van
Dijk.
·
Customer
services: Production of numerous products under one brand name
makes it difficult to offer better customer services.
Opportunities
·
Brand
expansion: The initial target market of the brand is young
people; this situation can allow the production line to enter a new customer
market and potentially extend to older people.
·
Brand
popularity: The use of celebrity endorsement will
enable Van Dijk to strengthen its brand image. Fionda and Moore (2009), opines
that proper advertisement campaigns increase the expansion and recognition
chances of a clothing line.
·
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