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Posted: April 10th, 2022
Develop a branding strategy for your new product
PART I: Develop Your Brand
Review videos Personal Branding – What Color is Your Brand (http://www.youtube.com/watch?v=XDohoPavchc) and Personal Branding – Why is it important? (https://www.youtube.com/watch?v=0a0Vm0zHFh0), which also appear in the Module 2 Lecture Notes. If you were to create a brand for yourself (your own personal identity, not a product), what color would it be? Describe your brand and how you developed it in at least two paragraphs. Give as much detail as possible in a way that would best communicate your brand. According to Forbes magazine (http://www.forbes.com/sites/dailymuse/2012/02/14/the-first-step-to-building-your-personal-brand), “Whether you’re on the job hunt, a student, or gainfully employed, you must think, act, and plan like a business leader. With the surge of social media, you have not only the ability, but you now have the need to manage your own reputation, both online and in real life.” You do NOT have to utilize the link provided in the video to perform this assignment; however, you may find both of these videos very helpful.
PART II: Marketing Plan Development (Continued
Continue analyzing and developing a marketing plan for the same product that you selected in Module 1. For the Module 2 assignment, discuss the following items in an essay that is two (2) pages in length. Please ensure that you have at least 2 references to the textbook. You may also use other reference materials from the LIRN library. Please visit the Academic Resource Center for instructions on how to use LIRN.
• Discuss the process of your new product’s development. Be sure you discuss the four stages of your product life cycle and your plan.
• Explain what type of product is it (convenience, shopping, specialty, unsought) or, if you are marketing a service, discuss its characteristics.
• Explain why and how this product suits your company’s business strategy.
• Discuss how you will ensure that the product is used by early adopters.
• Develop a branding strategy for your new product.
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