Brand Evaluation of Paul Smith Assignment Example | Topics and Well Written Essays - 3000 words

Brand Evaluation of Paul Smith - Assignment Example brand value, brand position, and brand image. Moreover, to present comprehensive outlook of the brand’s successiveness, the paper has also implied the multidimensional approach of brand evaluation. Subsequently, the discussion of the paper initiated to suggest few strategic measures to eradicate the shortcomings of the brand. Table of Contents Executive Summary 2 1.0. Introduction 4 2.0. Brand Evaluation of â€Å"Paul Smith† 5 2.1. Brand Value 6 2.2. Brand Image 7 2.3. Brand Positioning 9 2.4. Multidimensional Evaluation 10 2.4.1. Branding Vision of Paul Smith 12 2.4.2. Organisational Culture 13 2.4.3. Brand Objectives 13 2.4.4. Audit Brand Sphere 14 2.4.5. Brand Essence 14 2.4.6. Internal Implementation 15 2.4.7. Brand Resourcing 15 3.0. Conclusion 16 4.0. Recommendations 17 References 18 1.0. Introduction Evidences reveal that the concept of branding has changed drastically from that of the past. In the present era, brands are perceived to be assets. According to the Oxford American Dictionary, brand can be defined as â€Å"a trade mark, goods of a particular make†¦.† (Clifton & Ahmad, 2009). According to many marketers and analysts, it is also referred as â€Å"a promise of satisfaction† which exists between the manufacturers, sellers, performers, and the consumers and environment at large in an unwritten form. While brand is termed as an intangible property, branding is recognised as a multidimensional process through which a marketer continuously strives to improve its products and/or services to develop the trust relationship with the customers. Thereby, brand emerges to be one of the crucial components of businesses in the highly competitive environment of the 21st century. With all its virtues, a well-developed brand rewards numerous advantages to an organisation. It reinforces a superior reputation of an organisation, assures quality-performance from its end and above all, builds customer loyalty besides their stimulate d confidence on the product and/or services. This in turn facilitates shareholder values rewarding the organisation better growth and strength (Healey, 2008). Realising all these aspects of brands numerous companies have initiated to enhance their brand value, brand image and brand reputation in their targeted markets, e.g. Marks & Spencer, Wal-Mart, Gucci, D & G, and others. On the similar context, Paul Smith can also be recognised as a brand. However, in the modern context, few brands can be identified as successful while few others can be recognised as inefficient and less beneficial to the organisations. With this concern, the paper will intend to discuss the various features of branding initiatives adopted by Paul Smith. The objective of the paper is to critically examine the brand, â€Å"Paul Smith† in order to identify its successiveness in the international market. Perpetually, the paper will aim to document the various branding strategies adopted and benefits gained by the organisation, through an extensive research. 2.0. Brand Evaluation of â€Å"Paul Smith† Paul Smith is recognised as a marketer of fashion wears and accessories to the international customers of the fashion industry. The first initiation was taken by Sir Paul Smith, the owner of the organisation in 1970. However, for the first time he showcased his designs as menswear collection in Paris in the year 1976 with his own name. This initiative made the young marketer famous in the region and also rewarded the recognition