Reference no: EM131076808
Product Strategy (2-3 pages)
1. Choose the Product Classification that defines this product based on the previously defined target market. Explain your rationale. Choose between Convenience Product, Heterogeneous Shopping Product, Homogenous Shopping Product, Specialty Product, or Unsought Product.
2. Describe the Branding used for this product.
a. Does this product use family and/or individual branding? Explain your rationale.
b. Describe the brand name and brand mark. Explain each of them in detail, including colors, designs, and text.
c. Discuss the level of brand loyalty that the target market has for this brand.
Do not confuse Branding with Packaging & Labeling. Branding elements are often used on packaging, but a picture or phrase on a package is not necessarily a brand mark.
3. Describe the Packaging for this product.
a. Explain how the package is used for each of the following (if one or more of the below items is not used for this function, explain why not):
(1) Containing and Protecting the Product
(2) Promoting the Product
(3) Facilitating Storage, Use, and Convenience
(4) Facilitating Recycling and Reducing Environmental Damage
b. Explain the type of labeling used for this product (persuasive or informational). Provide your reasoning.
4. What stage in the Product Life Cycle does this product category fall into? Choose only one stage, and explain your rationale. Note: Identify the product category before determining the stage in the product life cycle. See the VCR example in the textbook.