Assignment: Milestone Guidelines
Overview: For this first milestone, you will apply principles and concepts you learned in Modules One and Two to analyze a brand in its development stage. In this assignment, you will identify key attributes of a brand in its creation and development stage, assess how the marketing mix is currently being used at this stage to develop brand equity, and explain how marketing strategies are applied to successfully launch a new product.
Prompt: This activity will allow you to take a more in-depth look at a brand in the development stage. However, note that the brand may no longer be in the development stage, but it should be from a prominent company that allows you to discuss key attributes and marketing strategies that were used by the brand while in development.
If you are choosing your own brand, please check if it is appropriate by posting any questions to the General Questions discussion and determine whether there are sufficient resources to cover all aspects of the assignment.
Select one of the following brands to analyze that you wish to use for your final project or one of your own choosing:
• Airbnb
• Apple iPhone
• Mini Cooper
• Tesla
• Uber
As you write, consider the following:
• How are employees engaged in product development for the brand prior to launch and while building the brand? What are the roles of internal stakeholders (e.g., legal, sales, finance, research and development) in the early development of the brand?
• What are some legal and ethical considerations to take into account at the development stage?
• Consider how the brand uses the marketing mix at the brand development stage, the impact on brand perception, and the function of stakeholders in applying the marketing mix at this stage.
• What marketing strategies is the brand applying at the development stage in order to understand and appeal to the product and consumer landscape?
Address the following critical elements:
I. Describe the attributes of this brand.
a) Discuss how the internal stakeholders (e.g., employees) are engaged in the development of the brand and building the brand identity.
b) Identify the legal and ethical issues the company should be concerned about in this stage.
II. Identify the 4P's of the brand.
a) Describe the brand using the marketing mix elements as a guide.
b) Analyze the impact of the marketing mix on overall brand perception.
c) Describe the function of multiple internal stakeholders in applying the marketing mix in the development stage.
III. Marketing Strategies
a) Describe existing marketing strategies used by the brand to successfully launch a new product.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.