Brand Management - Create a new sub-brand for Ted Baker plc (new make Essay

Brand Management - Create a new sub-brand for Ted Baker plc (new make up range) - Essay Example bulences within the British and the international market, the firm needs to prepare in advance a careful plan for the relevant initiative estimating the effectiveness and the feasibility of this project in the long term. In order to design the plan related with a specific product, we should primarily examine its potential market in terms of the customers’ preferences as they have been observed in relation with similar products. In this context, it is suggested by Henderson et al. (2000, 112) that ‘the building of a brand starts with a precise definition of the target customer group and its needs and expectations and proceeds to a realistic assessment of how well the brand currently meets them’. From a similar point of view, Dennis et al. (2002, 355) noticed that ‘branding is well known for consumer products but power has shifted from manufacturers brands towards retailers while the term image is more common than brand in the context of shopping centres, but branding may become more important’. In accordance with the above, the design and the development of a brand can be a challenging task especially when the targeted market is a competitive one (like in the case of UK). The proposed product will include a series of sub-products. More specifically, the firm is interested in launching a series of make up products including: a make up crà ¨me, a make up powder, a mix – make up product (crà ¨me and powder in one product) and a compact make up product which will be characterized for its long duration. The careful examination of the British market – especially of the specific sector – showed that this market is offered for the specific product. More specifically, in accordance with a series of statistics published by Market Research Portal (2006) the value of British cosmetics market is estimated to approximately 1.5 billion Euros for 2006. On the other hand, it is noticed that ‘over the past five years the make-up market has seen vibrant growth of