Paper Assignment
Overview: For this short paper, you will begin to examine brands that interest you for your final project. You will choose three brands, each in a different stage of a brand life cycle and analyze how the 4P's are applied to increase brand equity and promote the brand.
Prompt: The marketing mix, or 4P's (i.e., product, price, promotion, and place), can help to increase brand equity and promote a brand at each stage of its life cycle. First, using the provided list, select three brands, each in a different stage of a brand life cycle (i.e., brand development, brand growth, and brand maturity).
As you write, reflect on the following in 2 to 3 pages and justify your responses with this week's readings and resources:
- Which marketing mix elements are currently used to promote the brand at each stage of the life cycle?
- How is each brand using these elements to increase consumer perception and brand equity at the respective stages?
Specifically, the following critical elements must be addressed:
I. Brand Development
a) Describe which marketing mix elements are applied at this stage.
b) Explain how the brand uses these elements to increase consumer perception and brand equity at this stage.
II. Brand Growth
a) Describe which marketing mix elements are applied at this stage.
b) Explain how the brand uses these elements to increase consumer perception and brand equity at this stage.
III. Brand Maturity
a) Describe which marketing mix elements are applied at this stage.
b) Explain how the brand uses these elements to increase consumer perception and brand equity at this stage.
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.