BUS631: Brand Management

Completing this unit should take you approximately 4 hours.

Completing this unit should take you approximately 3 hours.

In this unit, we will examine the elements of a brand audit, as well as how brand audits are conducted. Some of an organization's most valuable and often underutilized assets are the brands it has developed and invested in over time. Conducting a comprehensive brand audit requires the analysis of both primary and secondary sources and the creation of a strategy-linked brand positioning architecture, differentiated value proposition, and customer offering. The brand audit assists the brand management team by measuring brand performance and brand positioning as these evolve over time.

Completing this unit should take you approximately 5 hours.

In this unit, we will elaborate on the strategies brand managers use to plan long-term brand success and market share domination. Brand portfolio management planning is fundamental to aligning internal and external marketing programs and activities with a brand's vision. Modeling tools such as the Boston Consulting Group Model (BCG) and the Product/Expansion Growth Matrix inform managerial actions related to integrating product, pricing, channel, and communication strategies.

Completing this unit should take you approximately 5 hours.

In this unit, we will explore the concept of sustainable competitive advantage, including competitive differentiation, competitive intelligence, and ethical brand management. Clearly defined, substantive, and trusted brands are the key to competitive differentiation and consumer confidence. This is especially true in over-saturated product and service industries. Most brands do not have clear points of competitive advantage and often rely on price or easy-to-copy factors. The competitive points of the parity strategy model are designed to identify the "weak" areas among the leading competitive brands that can be leveraged into unique points of difference (POD).

Completing this unit should take you approximately 7 hours.

Brand managers rely on the results from strategic modeling theories such as SWOT and Gap Analysis and predictive industry experts like Mintel to identify emerging micro- and macro-trends. In this unit, we will analyze and compare the key theories of how brand managers use theoretical constructs to make decisions. The theories addressed in this unit are part of an "environmental" scan of the competitive landscape. Current events revolving around economic, cultural, political, demographic, geographic, and technological developments drive successful strategic brand management. In this unit, we will investigate macro and micro factors that affect brand success. Environmental scanning is the practice of "scanning" the environment to keep track of and identify changing marketplace conditions.

Completing this unit should take you approximately 7 hours.

This unit will focus on the process of brand positioning, which describes how a brand compares to its competition and how customers perceive it. Social listening is considered real-time knowledge, and it is critical to assessing brand positioning. Social listening tracking is often used to provide management with a clear picture of how consumers think about the brand. Brand managers can track consumer social media behavior and gather the latest consumer insight and intention in a grassroots manner using paid tools such as TalkWalker and Hootsuite. This unit will also discuss the brand positioning model, gap analysis, and digital marketing in light of brand positioning.

Completing this unit should take you approximately 4 hours.

In this unit, we will examine CRM and the concepts of brand equity, brand growth, and customer lifetime value. Consumer Relationship Management (CRM) focuses on using current data to enhance relationships with customers, gathering data for future marketing endeavors, and providing strategic guidance to the organization.

Completing this unit should take you approximately 6 hours.

In this unit, we will build on the concepts developed in the previous units to better understand the impact of the consumer lifecycle and design thinking on the user experience (UX) to create maximum engagement for our brand. User Experience (UX) is a consumer optimization practice within brand management that focuses on consumer experience and consumer engagement. UX is often studied in the virtual space of the internet to best add a humanistic touch. This shaping is building the right type of experiences around your brand so that the brand's customers have specific, positive thoughts, feelings, beliefs, opinions, and perceptions about that brand, as opposed to the competitor's brand.

Completing this unit should take you approximately 4 hours.

In this final unit, we will explore the impact of technology on the practice of brand management. Technology advances continue to improve Brand Managers' capabilities in developing marketing plans and brand management strategies. Analyzing the marketplace of consumers often relies on technological big data analysis. Both correlational forecasting technology, such as Salesforce, and research insight studies, such as Qualtrics, can identify brand strengths, opportunities, and threats. With the advent of e-commerce and mobile devices, brand managers realize the importance of digital marketing and social media management in influencing the brand narrative. Big data analysis is considered the most valuable path to fact-based decision-making in the digital era.

Completing this unit should take you approximately 6 hours.

This study guide will help you get ready for the final exam. It discusses the key topics in each unit, walks through the learning outcomes, and lists important vocabulary. It is not meant to replace the course materials!

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Take this exam if you want to earn a free Course Completion Certificate.

To receive a free Course Completion Certificate, you will need to earn a grade of 70% or higher on this final exam. Your grade for the exam will be calculated as soon as you complete it. If you do not pass the exam on your first try, you can take it again as many times as you want, with a 7-day waiting period between each attempt.

Once you pass this final exam, you will be awarded a free Course Completion Certificate.