Branding Essay Example | Topics and Well Written Essays - 1250 words

Branding - Essay Example The TBI magazine is sold by the vendors who are homeless in UK (Big Issue, 2013d). Brand Audit A brand audit is conducted to examine the current strategic position of the company, identify the areas which are of additional value and suggest recommendations to improve the brand image of the company. A brand audit is conducted periodically by the management of the company to assess the market position of the company and that of its competitors. The study will conduct a brand audit of the TBI magazine to understand its current market position and suggest ways to strengthen its brand image further. Brand Score Card Firstly, The Brand Score Card would be conducted to measure the performance of TBI. The four major dimensions of the scorecard would be functional performance, convenience of access of the products, brand personality and pricing of the product (Pfoertsch and Kotler, 2006). Functional Performance TBI is the only street entertainment magazine in UK; it provides employment opport unities, financial assistance and housing facilities to the homeless people of UK. Apart from being a magazine seller, TBI also acts a charitable organization accepting donations from individual for providing facilities for the homeless people. Currently, the TBI magazine provides employment opportunities to more than 2000 homeless people of UK. ... TBI is solely dependent on charitable donations made by individuals, other charitable organizations, corporations, government etc. Since, the operations of TBI are solely based on the donations the company does not have the opportunity to expand its activities further. Being a social organization TBI does not lay special emphasis on the logo, brand ambassador, packaging and promotional activities. The organization is supported extensively by various other charitable organizations, government etc for funding purposes. For example GISDA has decided to collaborate with TBI to help the homeless people especially aged between 16 to 25 years old (Big Issue, 2013a). Pricing Value Component The magazine is bought at a price of 75 pence by the vendors and sold for ?1.50 making a profit of 50 percent per issue. It is one of the least expensive entertainment magazines of UK (O2, 2010). The minimum value of donating money to TBI is ?10 which is deducted through SMS facility of the donor. Quantit ative &Qualitative Brand Elements Profitability TBI is a social enterprise which aims at providing monetary and non monetary benefits to the homeless people of UK and the main objective of the organization is not to yield profits. The organization runs most of its operation through donations. As per the annual report of TBI in the year 2012 the organization received voluntary donations and statutory grants of ?1273475 (Big Issue, 2013b). The organization incurred an expenditure of ?112008; the received donation was spent providing financial, housing, legal and health benefits to the homeless people (Big Issue, 2013b). A certain proportion of the money is spent on the up gradation of the