SYED HARIS HASHMI

20201-27798

Q1] explain the concept of Purpose and Endorser brand with the help of one example each [examples
should be other than the ones mentioned in article] [3 marks]

Purpose Brand:

When a purpose brand is extended onto products that target different jobs, it will lose its clear meaning
as a purpose brand and develop a different character instead—an endorser brand. The potential of
disruptive innovations to create growth. because disruptive are product and services whose performance
is not good as maintain product, companies often hesitate to introduced them for fear of destroying the
value of brand.

The classical example of purpose brand is Nokia phone. They are hesitating for adopting the new
technology of android in the market. Which will resultant as the bad luck?

Endorsed brands, and sub-brands – For example, Nestle KitKat, Cadbury Dairy Milk, Sony. These brands
include a parent brand—which may be a corporate brand, an umbrella brand, or a family brand – as an
endorsement to a sub-brand or an individual, product brand. The endorsement should add credibility to
the endorsed sub-brand in the eyes of consumers.

Q2] Develop a purpose brand [new product / service] in any one of the following categories and properly
explain what steps will you take as marketeer to develop and assess your purpose brand and target
market. [7 marks]

My purpose brand is “Travel Agencies ”

SYED HARIS HASHMI
20201-27798

The lifecycle of products and services

 Product Development
 Production Introduction to market
 Growth
 Maturity
 Decline

Developing your ideas

There's a lot at stake when developing a new product or service.:

Will service meet customers' specifications? For example, consider its performance benefits.

How technologically feasible is the product or service.

Match products and services to market needs

New products and services have to offer benefits that meet your customers' needs.

how customers’ needs are currently met why customers would choose your service rather than the
competitions, both now and in the future what risks to take to launch your product or service into this
market.

Pricing your proposed service or product

Establishing a pricing strategy for a new product or service is an important part of the development
process.

 The benefits - or value - to the customer of service compared with what the competition has to
offer.
SYED HARIS HASHMI
20201-27798

 Whether or not you're first to market. Is service revolutionary or are you following a market trend?
 The selling channels you want to use, which will affect your promotional spending and
distribution costs.
 The speed with which want to establish for service.
 The expected lifecycle of service.
 Whether you are covering your costs.

The project development process

An effective development process for products or services should be divided into a number of key
stages:

 Idea generation - to capture new ideas.

 Idea distillation - to screen out those ideas not worth taking forward.
 Concept definition - to consider specifications such as technical feasibility and market potential.
If you're planning a new product, you should consider the design process now.
 Strategic analysis - to ensure your ideas fit into your business' strategic plans.
 Concept development - to create a prototype product or pilot service.
 Test marketing and finalizing the concept
 Product launch - the trickiest stage. Before setting a date, you must determine how to sell,
promote and support service.

Creating a project team

Every potential new product or service requires a dedicated development team.

 work as a unit dedicated to one project, reporting to a project manager

 work exclusively on one project but remain in separate departments reporting to department
heads who are under the project manager
 work on several projects at once with both a department head and project manager to monitor
progress.

Manage a development project

 Project managers are essential to ensure the successful development of new services.
 controlling costs and allocating resources.
 drawing up the key parameters for the product or service's specification
 coordinating the product development team.