Now that you’ve analyzed the environmental situation and
established who is in the target market, it is time for product
development. Product design is crucial because new products are being
introduced every day. So, while other people focus on that aspect of
development, you turn your attention to branding.
Write 750–1,000 words that respond to the following questions with
your thoughts, ideas, and comments. Be substantive and clear, and use
examples to reinforce your ideas.
This morning, walking into the office, you greet Michelle
who says, “I’d like to meet with you tomorrow to develop the branding
strategy for the new product. Let’s meet for a working lunch and
“That sounds great,” you reply. “I’ll schedule the meeting and order in lunch.”
Entering your office, you begin to think about the items that you will be discussing during tomorrow’s meeting with Michelle.
We haven’t even come up with a product name yet, you think. We also
need to work on an advertising slogan or tag line. You know that
Michelle has an extensive background in marketing, but you really want
to make a good impression and bring a sound branding strategy to the
meeting. How are we going to distinguish our product from our
competitors? What are the benefits that we are going to highlight in our
brand that will meet the needs or wants of our target customers?
You create the following list of items that you need to address:
Product nameAdvertising slogan or tag lineProduct attributesProduct benefits
determining the product name and slogan, it should be supported with
information from sources that
list characteristics of a good brand name or slogan. It was recommended that
the BAV pillars to identify the product attributes and benefits. It is critical that the summary distinguish the difference between
product attributes and product benefits; and examples were expected in
considerable detail to demonstrate an understanding of each.