Homework: Market Management
Learning Objectives:
• Understand what a brand is and its importance.
• Explain the functions that brands serve.
• Discuss brand associations.
• Understand branding strategies.
• Understand brand equity.
Chapter 8 - New Products and Innovation
Learning Objectives:
• Understand the importance of new products.
• Identify the process of new product development.
• Understand the stages of the product life cycle.
• Explain the diffusion of innovation and its implications.
• Stress the relationship between new products and marketing strategy.
• Examine trends in the global marketplace and their potential impact.
Reflection and Discussion Forum Week 3
Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.
Also, provide a graduate-level response to each of the following questions:
• Read the methodology of Interbrand.com for brand valuations. How might you improve their methods and the sorts of measures they use to assess brand equity?
• Consider the trends described in the chapter (e.g., aging, heightening environmental concern, or China). How will each affect the business you are in (or were in before coming to b-school)?
• Make a list of 3 of your favorite brands. What would be a great brand-, or line-extension that you would like to see developed as a new product?
Activity I: Identify a company that have changed its logos over time. Discuss the change and the reasons behind this change. How have these changes helped the company communicate to the customer?
This activity/homework will help students understand the product life cycle concept better and also give them an insight into the importance of marketing decisions that are to be taken during the market decline phase.
Activity II: Find four different products that are in the four different phases of the product life cycle. Give your opinions on the product in the market decline phase: whether the company should divest, harvest, or rejuvenate the product and the reasons behind your choices.
Format your homework according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.