Please write a 3-5 page 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:
- What were the short-term benefits of developing the brand versus the long-term benefits of developing brand equity;
- What is the importance of product and/or line extensions to brand development during the introductory phase of the product life cycle;
- 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 paper using APA guidelines. The Cover sheet, references page, and any visual aids you may use to provide support to your central thesis are NOT included in the page count.
Include a minimum of three (3) peer reviewed sources that you will find in the University’s Library. Sources used must conform to academic rigor. If you do not know if the source you want to use is academically rigorous, then please ask.