Now that youve 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: 1015 slide PowerPoint with 200250 words speaker notes per slide 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, Id like to meet with you tomorrow to develop the branding strategy for the new product. Lets meet for a working lunch and brainstorming session. That sounds great, you reply. Ill schedule the meeting and order in lunch. Entering your office, you begin to think about the items that you will be discussing during tomorrows meeting with Michelle. We havent 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 The board has called a meeting to see how the new product for MM is coming along. Michelle calls you about the meeting. “I like your ideas for branding the product,” she says. “I think the board wants an overview now of the whole process we are using for developing the new product. Can you do that?” “Thanks for the comments about the branding strategy,” you say. “I tried to be creative with my approach. I’d be glad to show the board the process we are using to develop the new product.” “Great,” she says. “Why don’t you do what you did last time? The 1015 slides that you presented worked well in the 30-minute time slot.” “In the past I’ve done similar presentations and have a format that really works. The board has been very receptive to the flow of the information and I think it will work for us for this presentation too,” she adds. “I’ll instant message the information to you after our meeting. The flow might work for you also.” “Great,” you respond. “I’ll get started on this first thing in the morning.” When you get back to your office, the instant message from Michelle is on your screen. It reads: These are the areas we need to cover in the presentation. Idea generation Idea screening Concept development and testing Marketing strategy development Business analysis Product development Test marketing Commercialization Be sure to include the information from our discussions on branding as part of the marketing strategy development phase of the process. Please keep all work as other questions with this follow and I would like to choose you again for the assignment
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