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Problem: Business Management
Competency
Assess branding strategies for achieving marketing goals.
Scenario
You are the brand manager for a large brand, Truly Foods. Your company has just acquired a smaller food brand called Smart Foods. Your boss told you that a new strategy needs to be created for the Smart Foods brand line, since there's already a brand awareness presence and a loyal consumer base. Truly Foods wants to continue to keep the Smart Foods brand strategy separate.
Task
Write 2 pages memo with section headers to your boss that does the following:
• Describe the new branding strategy for the Smart Foods.• Justify the importance of using the umbrella branding strategy.• Give 2 advantages and 2 disadvantages of using the umbrella strategy.• Discuss the importance of maintaining consistent branding strategies for Smart Foods.• Discuss how this new branding strategy meets the marketing goals for Truly Foods.
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