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1. What is the current brand structure? What brand family will the product join? Why is the product a good addition to the current

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1. What is the current brand structure? What brand family will the product join? Why is the product a good addition to the current product mix? Why/how will the product improve the brand?

New Product for IMAN Cosmetics

INSTRUCTIONS:

Requirements for Product Paper due 



You are to describe a new product offering. This product must be part of a real, recognizable brand family. You cannot use product modification (taking an old product and making it new and improved or repackaging it). You cannot use Sony, Apple, Nike or any type of phone. You can do a product line extension or a new to the world product or start a new product line.



Your paper should address the following:

1. What is the current brand structure? What brand family will the product join? Why is the product a good addition to the current product mix? Why/how will the product improve the brand?

2. Conduct a brand analysis. What market are you targeting? Is this a market the company is currently serving? If not what is the justification for targeting an entirely new market? Who are your competitors? What will the competitive response be? Is that a problem? How does your product suggestion add to the overall value of the brand?

3. Create a product identity that meshes with the brand identity. What is the product? Describe its features (and the benefits they provide) as completely as possible. Give some thought to the name. Not only will it have to appeal to customers but it should fit with other product names used by the company. What is the value proposition?

4. How will the market respond to the product? Why do you think the product will be successful? Some questions to consider when answering this. What problem does it solve? What need does it fulfill? How is it better than your current offerings? How is it better than the competitor’s offerings?



• You should write a persuasive paper convincing the reader that they should fund this new product initiative.

• Focus more on the marketing aspects (value created, communicated and delivered, target market, brand development) than on product design.

• I think you can do it in 3 pages. No more than 5 pages! 

CONTENT:

New Product for IMAN Cosmetics Student: Professor: Course title: Date: New Product for IMAN Cosmetics Current brand structure The new product is tasty lip balm for IMAN Cosmetics. The product is essentially meant to be a product line extension. Currently, IMAN Cosmetics offers a makeup product line that includes lipstics, eye shadow, eye pencil, foundation, concealer, blush, face powder, bronzer, mascara, as well as skin care products. All these products are closely related; the tasty lip balm will join this brand family. The lip balm product is a good addition to IMAN’s current product mix since it will cover an important market which the company does not cover at present. The product line extension will expand the market for IMAN Cosmetic’s products since it will give customers greater choice and provide products which meet the needs of customers mor

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  • Title: 1. What is the current brand structure? What brand family will the product join? Why is the product a good addition to the current product mix? Why/how will the product improve the brand?
  • Price: £ 99
  • Post Date: 2021-09-15T06:18:50+00:00
  • Category: Essays
  • No Plagiarism Guarantee
  • 100% Custom Written

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1. What is the current brand structure? What brand family will the product join? Why is the product a good addition to the current product mix? Why/how will the product improve the brand? 1. What is the current brand structure? What brand family will the product join? Why is the product a good addition to the current product mix? Why/how will the product improve the brand?
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