The Brand Plan of Chipotle- management paper Research

The Brand Plan of Chipotle- management - Research Paper Example The Brand Plan of Chipotle includes the overview of the current brand scenario in the industry. According to "Where the Burritos Buzz Themselves: Chipotles Ad Budget Is Tiny, but Word of Mouth Makes Up the Difference Easily.",  the management of Chipotle does not believe in spending on promotions and advertisements to create an image of their brand. However, relying on word-of-mouth only to build the equity of a brand is not enough considering the growing situation of Chipotle. This paper focuses on how the brand is to be managed. Currently, as narrated in "How I Got Started Founder Steve Ells Tells the Story of Chipotles Rise.†; Chipotle manages a portfolio of a couple of brands which are Burrito, Burrito Bowl Crispy Tacos, Soft Tacos, Salad and Chips & Guacamole. Although the menu is quite limited for a large restaurant like Chipotle, the owners decide to keep the menu simple in order to maintain the flare of the brand on which the growth rests. As the management believes more on the word-of-mouth marketing rather than undertaking fully fledged marketing campaign, Chipotle must see that with the growth in the international marketing, it has to be backed with marketing campaigns and brand marketing endeavors in order to build a strong customer base as pointed out in the book â€Å"Strategic Brand Management, International Edition: Best Practice Cases in Branding†. As implied in "The Marketing Advantages of Strong Brands.", with the organization in its growing phase, the positioning strategies of the brand will be set, along with the corporate branding techniques which would translate into financial benefits. The brand of Chipotle would be made a corporate brand and the famous menu items of the restaurant would be advertised under corporate branding. The turnover resulting from these corporate brands would be gauged and the financials would be managed separately. This would show how much a brand is contributing to the total