You will create the following items that you need to address based on the MM target markets and positioning strategies:
Product name (Name your phone product (s)Advertising slogan or tag line (create and advertising slogan or tagline)
1. Product attributes (list the product attributes that your plan will offer)
2. Product benefits (state specific benefits that your product will offer)
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.
Primary Task Response: Within the Discussion Board area, write 750–1,000 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:
· Product name
· Advertising slogan or tag line
· Product attributes
· Product benefits
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