Mktg630 db unit3 | MKTG630 Applied Managerial Marketing | Colorado Technical University

 

ow 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. 

Primary Task Response: Within the Discussion Board  area, write 400-600 words that respond to the following questions with  your thoughts, ideas, and comments. This will be the foundation for  future discussions by your classmates. 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  brainstorming session.”   “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:
Identify in one sentence your overall branding strategy or brand image you want to achieve in the mind of your target segment.
Product name  
Advertising slogan or tag line  
Product attributes  
Product benefits 

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