Assignment task:
Brand design is one of the most difficult tasks in marketing. Customers buy benefits, but your brands are built from components. The challenge is to select the components that will provide the desired benefits and satisfy the customers' needs and uses. YOUR TASK To design a new brand in the Workspace, first choose a name for your brand. The name should convey the desired image of your company and product line. Next, choose the brand type. In other words, choose the bike frame. Each frame has been designed to meet the needs of the chosen market segment. Finally, select the components to include in your brand. Choose those that you think will satisfy your target segment. Keep in mind the benefits that are desired by the segment, how the product will be used (applications), and the price the segment is willing to pay. DECISION TIP It is recommended that you design several brands for the test market. In order to effectively gauge your customers' reaction to your offering, you may find it helpful to design two different brands for each of the two segments you have planned to target at this time. You may wish to design an extra brand(s)