Assignment: Benefits of Developing a Brand
Write a 3 to 5 pages paper in which you discuss the benefits of developing a brand for a new venture. My suggestion is to choose to discuss an existing brand, for an existing competitor, to your learning team's venture. In this way you can analyze just how the competitor built their brand, what activities the competitor used to build their brand, and what were the immediate benefits of developing the brand.
When discussing branding and the brand function in a new venture, pay particular attention to:
i. What were the short-term benefits of developing the brand versus the long-term benefits of developing brand equity;
ii. What is the importance of product and/or line extensions to brand development during the introductory phase of the product life cycle;
iii. Consequences (if any) of diversification of products or services on the development of the new venture's brand during the introductory phase of the product life cycle
Format your assignment according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) 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.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.