Branding Assignment This individual assignment will address issues involved with branding and will be fully explained prior to the due date (details on TED). Respond to each question thoroughly yet succinctly. It should not exceed one and a half pages, single-spaced. This needs to be turned in by 10pm on April 26 through Turn It In on TED. Any assignment not submitted by 10pm on TED will receive a maximum of 50%. Any assignment submitted more than 24 hours late will receive a 0. Your response should not exceed one page, single-spaced. Make sure to put your name and section on the top of the page. When submitting your assignments on Turn It In, you will receive an emailed receipt. If you do not receive this, it means your assignment was not correctly submitted and you will receive a zero. There is no “proof” of completion other than the receipt. There will be an announcement posted on TED when grades are posted. You have one week to contact us if you do not see your grade. After that, posted grades are final (even if it is a zero). • Clearly explain what brand equity is (4 points). Now, choose a product category (examples of product categories are “Cars,” “Cell Phones,” “Universities,” “Watches,” etc.) and write about differing brand equities within that product category (4 points). • For many years, Ferrari (a much higher end brand than Porsche) has been known as a manufacturer of expensive luxury automobiles. They are considering how to attract the very large segment of the car-buying market that purchases medium-priced ($40,000) vehicles. What branding strategy (4 points) would you suggest to Ferrari and why (4 points)? • Companies build and manage their brands very carefully (if they are smart). The positioning must be continually communicated to consumers. Are brands maintained by advertising or by consumer experiences (4 points)? Explain. Give an example of a poorly maintained brand (explain what happened) (4 points).
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