Assignment task: Choose only one question from the following bullet list of questions to discuss for this assignment. Answer all the sub questions within the single bullet list question.
- Apply the categorization model described in the textbook (Chapter 2) to a product category other than beverages. How do consumers make decisions of whether or not to buy the product? How do consumers arrive at their final brand decision? Based on your answers to these questions, what brand management strategies should be used to increase brand equity? Explain your answers.
- Pick a product category basically dominated by two major brands. Evaluate the positioning of each brand by applying the concepts of the textbook (Chapter 2). Who are their target markets? What are each brand's main points-of-parity and points-of-difference? Have each of the major brands defined their position correctly, in your opinion? Why or why not? How might their positioning be improved? Why?
- Pick a brand. Identify its sources of brand equity according to the concepts from the textbook (Chapter 3). Assess its level of brand awareness with the target market and the strength, favorability, and uniqueness of its brand associations. Is the brand missing a potential favorable brand association? What would that association be and how would it benefit the brand equity? Explain your answers.
- Pick a brand. Assess the extent to which the selected brand is achieving the various benefits of brand equity identified in the textbook (Chapter 3). Explain your answers. Ensure that you answer all questions within the bullet item. In addition, ensure that your essay includes the following points.
- Explain why the concept was established for brand management use (its purpose).
- Be sure to include your rationale for taking the positions that you did in your answers.
- Be sure to include your recommendations of what could be changed to improve the situation for the brand management team. The essay can have a thousand words, be thorough in its discussion and analysis of the question being addressed and be supported by concepts found in the textbook and examples supported by a minimum of three (3) scholarly sources outside of the textbook. These sources should be Marketing focused and preferably from peer reviewed journals.