AMCM700 Contemporary Issues in Marketing Practice

Brand Audit Tasks

The framework for parts A-C is to be applied to Tower Insurance to complete the brand audit.

Part A 20 Marks

Market Insights

1. Analyse the business environment that Tower Insurance operates in and identify four (4) trends that are occurring that could have an impact on Tower Insurance’s brand strategy. Briefly justify why you think they will have a negative or positive impact.(8 marks)

2. Identify and explain two (2) opportunities in the market that could be utilised to7 strengthen Tower Insurance’s brand portfolio. (6 marks)

3. Critically evaluate the attractiveness of one (1) of the opportunities you identified in task 2 above. Your evaluation must be supported with reliable evidence. (6 marks)

Part B 25 Marks

Tower Insurance Group Limited Insights

4. Analyse three (3) strengths and three (3) weaknesses of Tower Insurance’s brand. In your analysis include the brand elements, brand identity and the current positioning in the market along with any other aspects of the brand. (12 marks)

5. Identify the key brand assets for Tower Insurance and justify how they assist in building the brand reputation. (5 marks)

6. By utilising secondary resources, explain the current brand position of Tower 7 Insurance. (8 marks)

Part C 20 Marks

Customer Insights

7. Profile two (2) segments for Tower Insurance using B2C segmentation criteria. Evaluate the segments against the criteria for effective segmentation.(10 marks)

8. Explain the brand choice criteria for each of the above segment profiles. In the explanation highlight the drivers and preferences for purchasing decisions of the segments

Recommendation Tasks

9. Recommend and justify for Tower Insurance a suitable brand identity, including the brand elements, based on the brand audit in part A. Support your recommendations and justification with contemporary marketing theories. (10 marks)

10. Based on the brand audit in part A, along with your recommendations from task 9 above, either recommend an alternative brand position or justify the continuation of the current brand position for Tower Insurance based on (1) one segment from task 7. In both cases highlight the value proposition of Tower Insurance to base your decision on. Support your recommendation or justification with contemporary marketing theories