Branding strategy

What is the mission/vision statement for your company? What are two financial and two non-financial high-level goals for your company?

Describe in detail the product (approved by your instructor) you plan to introduce to your target market.
Where is your product in the product life cycle (PLC)? What is a point of differentiation of your product (vs. the major competitor)? How does it bring more value to your target market(s) (vs. the major competitor)?
How will you position your product to your target market?
What is your branding strategy (which method will you use)? Why do you believe this strategy will ensure success?
Using the tenets of the new product development process (NPDP), when will you develop a prototype of your product? When and where will it be tested? How many levels of testing do you plan to do?
Show a timeline to accomplish all of the above (assuming your product concept began at the beginning of this course and needs to be ready for the market eight months from now). Explain the high- level tasks that need to be accomplished (e.g., Product concept approval, begin prototype design, begin testing, etc.) from product concept to the point of being ready to implement in the marketplace.

Sample Answer

Mission and Vision Statements of a Company

A mission statement is a concise declaration of an organization’s purpose. It should answer the question, “What do we do?” A vision statement is a declaration of an organization’s future goals. It should answer the question, “What do we want to achieve?”

Full Answer Section

Mission Statement: Our mission is to organize the world’s information and make it universally accessible and useful.

Vision Statement: We believe that everyone should have access to the information they need to live a better life. We are committed to making information more accessible, more useful, and more affordable for everyone.

Financial and Non-Financial Goals of a Company

A company’s goals should be specific, measurable, achievable, relevant, and time-bound. Here are two financial and two non-financial goals for my company:

Financial Goals

Increase revenue by 10% year-over-year.
Reduce costs by 5% year-over-year.

Non-Financial Goals

Launch a new product or service within the next year.
Increase customer satisfaction by 10% year-over-year.

How to Achieve Goals

To achieve its goals, a company needs to have a clear plan. The plan should outline the steps that need to be taken to achieve each goal. The company also needs to have a commitment to its goals. If the company is not committed to its goals, it is unlikely to achieve them.

In addition to having a plan and a commitment, a company also needs to have the resources it needs to achieve its goals. This includes the financial resources, the human resources, and the technological resources.

Conclusion

A company’s mission, vision, and goals are important statements that guide the company’s actions. The company’s mission statement should declare the company’s purpose. The company’s vision statement should declare the company’s future goals. The company’s goals should be specific, measurable, achievable, relevant, and time-bound.

This question has been answered.

Get Answer

No More Worries!

Paper Formatting

No Lateness!

Our Guarantees