Assignment 1: How Brands are Built Introduction IMC focuses on using communication processes and tools to build relationships between a brand and the target market of an organization, specifically those relationships that create and strengthen brands. Your course textbook and modules are intended to help you understand the principles and practices of marketing communication in an integrated way, with the objective of retaining existing customers and increasing the number of new ones. In Module 1, you reviewed various marketing communication functions and learned the importance of brands, integrated marketing communications, and other customer-focused approaches essential to integrated marketing communication. The purpose of this assignment is twofold: First, to demonstrate your understanding of the key integrated marketing communication and brand terms and concepts discussed in Module 1 Second, to demonstrate your ability to apply what you have learned so far by doing a brand audit for the consumer brand/product for the IMC plan and submitting a proposal that explains why you think the market position of the brand needs to be improved. Depending on your choice of a consumer product from an established company with an established brand and target market, you should be prepared to visit retail outlets and other locations to explore how the consumer product/brand is reaching its target market. In addition, you also should be prepared to research the online presence of the consumer product/brand on the websites and social marketing sites that it uses. You may also interview colleagues, friends, and family to determine how the consumer product/brand is reinforced within the marketplace. Instructions Important: In answering the following assignment parts, it is critical to justify your answers. Grading is weighted heavily in favour of answers that refer back to or reference the course materials including concepts, terms, relevant information, and other outside sources. It is important to demonstrate your knowledge and understanding of the course materials in your reasoning about and application of them. Part 1: Proposal (10 marks) Provide a description of the company and its brand/product, its marketing mix (product, price place, and promotion), its product category, and its direct competitor. * Suggested length for Part 1 is one page. Part 2: Introduction to Brand Audit (35 marks) Complete a brand audit and determine what factors contribute to the performance and equity of the brand. In this audit, you must address the following: What is the core proposition (intention) of the brand? (5 points) What do the stakeholders think about the brand? (10 points) In what marketing mix activities are the direct competition involved in that influence your brand? Provide detailed information about these communication and promotional activities, such as the offering of new brand extensions, promotions, co-operative advertising, sponsorship, etc. (20 points) * Suggested length for Part 2 is one to two pages. Part 3: Brand Audit (30 marks) Perform a brand audit, by providing the following information about your brand’s: Target market segments Differentiation points Positioning Relevance Identity Relationships *Suggested length for Part 3 is one and a half to two pages. Part 4: Conclusion (20 marks) Now that you have completed the brand audit, explain why you think the market position of the brand needs to be improved by strengthening the brand equity and improving the integrated marketing communications strategy. * Suggested length for Part 4 is two pages. Part 5: Report Structure and Presentation (5 Marks) Ensure you structure and present your assignment in formal manner suitable for business. Assessment Criteria This assignment is worth 10% of your final course grade and is marked out of 100 as follows: Assignment Parts Weight Part 1: Proposal 10% Part 2: Introduction to Brand Audit 35% Part 3: Brand Audit 30% Part 4: Conclusion 20% Part 5: Report Structure and Presentation 5% Total: 100% Assignments will be evaluated using the following performance criteria: Content—Address all points of information as outlined in the criteria and course content for the assignment. Knowledge—Demonstrate your understanding, skills, and perspectives regarding the module terms and concepts and provide a coherent summary of your learning from the assignment. Theory and Practice—Demonstrate the connections that exist between the work of others (course materials, readings, activities, and discussions) and marketing principles, practices, and processes with your work. Critical Thinking—Use logical thinking to gather, integrate, and analyze the information in your report. Display your ability to draw the best possible conclusions from your findings and analysis, and to apply these to the development of your IMC plan. Presentation—Deliver all parts of the assignment with good structure, clarity, and presentation. Ensure that your report is professionally formatted; that spelling, grammar, and punctuation are accurate; and that footnotes and acknowledgments (bibliography or reference list) are correctly used. Completion Guidelines Submit your assignment by Blackboard email. Save it as a Word document, and name it MKTG4481_Lastname_Assign1_CourseCompletionDate. A few reminders before submitting your assignment: Did you put your name, student number, and course completion date on the cover page of your document? Did you submit all parts of your assignment in one document to your Open Learning Faculty Member? Did you complete all the required elements? Did you use relevant information and terminology that you learned in this course? Did you support your statements with specific examples? Did you cite references, using the correct citation format? Did you ensure that your writing is free from spelling mistakes? Is your report grammatically correct, clear, and well organized? Note: Cite all quotations appropriately by using the American Psychological Association (APA) documentation style (author [last name followed by first initial], date, title, publisher, page number [if required]), and when needed, provide Web URLs. For more information on APA, see http://www.tru.ca/library/guides/citation_styles.html.