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MMPM-003: Product and Brand Management

MMPM-003: Product and Brand Management

IGNOU Solved Assignment Solution for 2023-24

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Assignment Code: MMPM-003/TMA/JULY/2023

Course Code: MMPM-003

Assignment Name: Product & Brand Management

Year: 2023-2024

Verification Status: Verified by Professor



Q1. a) What is a Product? Discuss the Product Characteristics and its classification with suitable examples.

Ans) A product is a fundamental component of marketing and business, encompassing both tangible goods and intangible services. It represents something that satisfies a customer's needs or desires and can be offered in exchange for value, typically in the form of money. Understanding the characteristics and classification of products is crucial for effective marketing and product development.


Product Characteristics:

  1. Tangibility: Products can be physical goods or services. Tangible products are tangible and can be seen, touched, or held. Examples include smartphones, clothing, and cars. Intangible products are services that are not physically present but offer value, such as consulting, healthcare, or education.

  2. Utility: Products provide utility or usefulness to customers. They fulfil a specific need or want, solving a problem or enhancing the customer's life. For example, a smartphone provides communication, entertainment, and information utility.

  3. Features: Products have distinctive features that differentiate them from competitors. These features can include design, performance, quality, and functionality. For instance, a high-end laptop may offer advanced features like a powerful processor and a high-resolution display.

  4. Branding: Products are often associated with a brand, which is a unique identifier. Branding includes the product name, logo, packaging, and the overall image. Well-established brands, like Apple or Coca-Cola, have strong brand recognition and customer loyalty.

  5. Lifecycle: Products have a lifecycle consisting of introduction, growth, maturity, and decline phases. The product lifecycle influences marketing strategies. For example, during the growth phase, companies may focus on expansion and market share, while in the maturity phase, they may emphasize product differentiation.


Product Classification:

Products can be classified based on several criteria, including their durability, use, and purchasing behaviour.


Here are common classifications:

Consumer Products:

  1. Convenience Products: These are everyday items that customers buy frequently with minimal effort, such as snacks, toiletries, and newspapers.

  2. Shopping Products: Customers compare these products based on attributes like price, quality, and style before making a purchase. Examples include clothing, electronics, and furniture.

  3. Specialty Products: These are unique or niche products with strong brand loyalty. Customers are willing to make an extra effort to acquire them, such as luxury watches or designer handbags.

  4. Unsought Products: Unsought products are purchased infrequently or not actively sought by customers. These include life insurance, funeral services, and emergency medical supplies.


Industrial Products:

  1. Materials and Parts: These are raw materials, components, and supplies used in production. Examples include steel, computer chips, and office supplies.

  2. Capital Items: Capital items are major investments made by organizations, such as machinery, vehicles, and buildings.

  3. Supplies and Services: These products support a company's operations and include items like maintenance services, cleaning supplies, and IT support.


Product Durability:

  1. Durable Goods: Durable goods have a long lifespan and are not consumed immediately. Examples include appliances, automobiles, and furniture.

  2. Non-Durable Goods: Non-durable goods are consumed relatively quickly and need frequent replacement, like food, toiletries, and newspapers.


Q1. b) Explain the concept of Product Portfolio. Discuss the BCG-growth share matrix that you are familiar with.

Ans) A product portfolio refers to the collection of products and/or services offered by a company or business unit. It is a strategic tool used to manage and analyse the range of products a company brings to the market. A well-balanced product portfolio can help a company diversify its risk, maximize its market share, and cater to different customer segments.


Key aspects of a product portfolio include:

  1. Product Mix: The combination of various products or product lines within the portfolio, which may include different categories, brands, or variations of offerings.

  2. Market Positioning: How the products within the portfolio are positioned in the market, such as whether they target a premium or budget-conscious audience.

  3. Lifecycle Stages: Identifying where each product is in its lifecycle, whether it's an established product, a new product, or one that is declining.

  4. Market Segmentation: Understanding the various customer segments or markets each product serves.

  5. Revenue and Profit Contribution: Analyzing the revenue and profitability of each product to allocate resources effectively.


BCG Growth-Share Matrix:

The BCG Growth-Share Matrix, developed by the Boston Consulting Group, is a strategic planning tool used to evaluate a company's product portfolio. It classifies products into four categories based on their market growth rate and market share. Each category has specific strategic implications:

  1. Stars: These are products with a high market share in high-growth markets. Stars require substantial investments to maintain their growth rate. Companies aim to turn their promising products into market leaders. As these products mature, they may become cash cows.

  2. Cash Cows: Cash cows have a high market share in low-growth or mature markets. They generate a consistent and substantial cash flow. Companies can milk these products by reducing investment and maximizing profits. This cash can be reinvested in stars or question marks.

  3. Question Marks (Problem Children): Question marks have a low market share in high-growth markets. They require significant investments to increase their market share and become stars. Companies must decide whether to invest or divest in question marks based on their potential.

  4. Dogs: Dogs have a low market share in low-growth markets. They neither generate significant cash flow nor require large investments. Companies often divest or phase out dogs unless they serve a strategic purpose, such as complementing other products.


The BCG matrix helps companies make strategic decisions about resource allocation and product prioritization:

  1. Investment Prioritization: It guides companies on where to allocate resources. Stars and question marks may require higher investment, while cash cows provide funds for reinvestment.

  2. Portfolio Balance: Maintaining a balanced portfolio with products in different categories can help spread risk and ensure long-term sustainability.

  3. Strategic Direction: The matrix assists in determining the strategic direction of each product, whether to grow, maintain, divest, or harvest.


Q2. a) Comment on how a firm organizes the process of new product development process. Discuss setting the responsibility for new product development in the following situations.

i) new product development at the corporate level

ii) new product development at operating level

Ans) Organizing the process of new product development (NPD) is critical for a firm's innovation and growth. The structure and responsibility for NPD can vary based on the firm's size, industry, and strategic objectives.

Two common scenarios for organizing NPD are:

i) New Product Development at the Corporate Level:

In this scenario, the responsibility for NPD is centralized at the corporate level. This approach is often seen in large, diversified firms with a broad range of products and services.

  1. Centralized NPD Team: The firm establishes a centralized NPD team or department that oversees the entire NPD process. This team is composed of experts in various aspects of NPD, including market research, design, engineering, and marketing.

  2. Strategic Alignment: The corporate-level NPD team ensures that new product initiatives align with the firm's overall strategic goals and objectives. They evaluate potential NPD projects in terms of their fit with the company's mission and vision.

  3. Resource Allocation: Resource allocation decisions, such as funding and manpower, are made at the corporate level. The centralized team decides which NPD projects receive priority and investment based on their potential for growth and profitability.

  4. Risk Management: Centralization allows for better risk management. The corporate NPD team can assess and mitigate risks across the organization, leveraging economies of scale and shared resources.

  5. Cross-Functional Collaboration: The centralized structure promotes collaboration between different functional areas, such as R&D, marketing, and manufacturing. This cross-functional approach enhances communication and coordination.


ii) New Product Development at Operating Level”

In this scenario, responsibility for NPD is decentralized and delegated to operating units or divisions within the firm. This approach is often seen in smaller or more specialized firms.

  1. Autonomous Operating Units: Each operating unit or division has its own NPD team responsible for developing new products that align with their specific market or segment. These teams have a degree of autonomy in decision-making.

  2. Market Focus: Operating-level NPD teams have a deep understanding of their respective markets and customer needs. They tailor NPD projects to meet the demands and preferences of their target customers.

  3. Faster Response: Decentralization enables faster response to market changes and opportunities. Operating units can adapt NPD initiatives more swiftly without the need for corporate approval.

  4. Innovation Culture: Operating-level decentralization can foster an innovation culture within individual units. Teams are empowered to take risks and experiment with new ideas.

  5. Risk Localization: Risks and failures are localized to specific operating units, reducing the potential impact on the entire organization. This can encourage experimentation and learning.


The choice between centralization and decentralization of NPD depends on the firm's strategic goals, market dynamics, and resource availability. Some firms may adopt a hybrid approach, combining elements of both centralization and decentralization to strike the right balance. Regardless of the approach, effective communication and collaboration between corporate and operating-level teams are essential for successful NPD.


Q2. b) What is a new product? Briefly discuss the various techniques used for generated new product ideas.

Ans) A new product refers to a tangible good, service, or idea that is introduced into the market for the first time or significantly enhances an existing product's features, benefits, or performance. New products can result from innovation, research and development efforts, and creative problem-solving, aimed at meeting evolving consumer needs and preferences.


Techniques for Generating New Product Ideas:

Generating new product ideas is a crucial step in the innovation process. Here are various techniques commonly used by organizations to generate innovative ideas for new products:


Brainstorming: Brainstorming sessions involve a group of individuals generating ideas without criticism. It encourages creative thinking and can be highly effective for generating a wide range of ideas.

  1. Customer Feedback: Listening to customer feedback and suggestions can provide valuable insights into unmet needs and potential product improvements. Surveys, focus groups, and social media listening are useful tools for collecting customer input.

  2. Market Research: Conducting thorough market research helps identify trends, gaps, and opportunities in the market. Analyzing competitors and consumer behaviour can reveal areas where new products could thrive.

  3. Observation and Ethnography: Observing how customers use existing products or observing their daily lives can uncover pain points or unmet needs that can be addressed through new product development.

  4. Cross-Functional Teams: Forming cross-functional teams that include members from various departments (e.g., marketing, R&D, sales) can lead to diverse perspectives and innovative ideas.

  5. Technology Scanning: Keeping an eye on emerging technologies can inspire new product ideas.


Assessing how new technologies can be applied to existing problems or needs is a common practice in industries like electronics and software.

  1. Crowdsourcing: Organizations can harness the collective wisdom and creativity of a broader audience by crowdsourcing new product ideas through open innovation platforms or contests.

  2. Reverse Engineering: Analyzing and deconstructing existing products, including those of competitors, can lead to insights for improving upon or developing new and innovative products.

  3. Scenario Planning: Creating scenarios of potential future market conditions and customer needs can guide product development. It helps in preparing for a range of possibilities.

  4. Idea Generation Workshops: These structured workshops involve employees or stakeholders in idea generation and problem-solving exercises. They encourage collaboration and creative thinking.

  5. Morphological Analysis: This technique breaks down a product or problem into its constituent attributes and explores various combinations to generate new ideas.

  6. Blue Ocean Strategy: Identifying and creating uncontested market spaces (blue oceans) can lead to innovative products that serve previously overlooked customer segments.

  7. Design Thinking: Applying design thinking principles, which emphasize empathy, ideation, and prototyping, can lead to user-centered innovation and new product concepts.

  8. Analogous Inspiration: Drawing inspiration from unrelated industries or products can lead to novel ideas. It involves identifying analogous situations and applying their solutions to a different context.

  9. Mind Mapping: Creating visual representations of ideas and concepts can help uncover new connections and insights, leading to innovative product concepts.


Effective idea generation often involves a combination of these techniques tailored to the organization's specific needs and objectives. It's essential to foster a culture of innovation and provide a supportive environment where employees feel encouraged to contribute their ideas.


Q3. a) Explain the concept and significance of branding. Illustrate. Discuss the steps involved in the brand selection process.

Ans) Branding is the process of creating and establishing a unique and memorable identity for a product, service, or company in the minds of consumers. It involves defining the brand's personality, values, and promise and communicating them effectively to target audiences. Branding goes beyond a logo or a name; it encompasses the entire experience and perception associated with the brand.


Significance of Branding:

  1. Differentiation: In a crowded marketplace, branding helps products and companies stand out by highlighting their unique features and value propositions. It distinguishes one brand from another.

  2. Trust and Credibility: A strong brand builds trust and credibility among consumers. When people recognize and trust a brand, they are more likely to choose it over competitors.

  3. Customer Loyalty: Brands that resonate with customers create loyal followings. These loyal customers are more likely to make repeat purchases and become advocates for the brand.

  4. Price Premium: A well-established brand often allows a company to command higher prices for its products or services. Customers are willing to pay more for brands they trust.

  5. Emotional Connection: Successful branding connects with consumers on an emotional level. It can evoke positive feelings, memories, and associations that drive purchasing decisions.


Steps in Brand Selection Process:

The brand selection process involves strategic decisions to create a brand identity that aligns with the company's goals and resonates with the target audience.

  1. Defining Brand Objectives: Start by defining the objectives and goals of the brand. What do you want the brand to achieve, and how will it contribute to the company's overall strategy?

  2. Market Research: Conduct thorough market research to understand the target audience, their preferences, needs, and pain points. Analyse competitors and industry trends to identify opportunities.

  3. Brand Positioning: Determine how you want the brand to be perceived in the market. What unique value does it offer, and how does it differ from competitors? Develop a positioning statement.

  4. Name Selection: Choose a brand name that is memorable, easy to pronounce, and relevant to the product or service. Ensure that the name is not already trademarked.

  5. Logo and Visual Identity: Design a visually appealing logo and establish a consistent visual identity, including color, typography, and imagery. These elements should reflect the brand's personality and values.

  6. Brand Messaging: Craft compelling brand messages and taglines that convey the brand's essence and value proposition. These messages should resonate with the target audience.

  7. Brand Voice and Personality: Define the brand's voice and personality, which should be consistent across all communications. Is the brand playful, authoritative, friendly, or professional?

  8. Testing and Feedback: Before finalizing the brand identity, gather feedback from internal stakeholders and potential customers. Adjust based on their input.

  9. Trademark Registration: Protect your brand by registering it as a trademark. This legal step helps prevent others from using a similar name or logo.

  10. Launch and Promotion: Introduce the brand to the market through a well-planned launch strategy. Use various marketing channels and tactics to create awareness and build brand recognition.

  11. Brand Management: Once launched, actively manage the brand to ensure consistency in messaging and design. Continuously monitor customer feedback and market trends.

  12. Evaluation and Adaptation: Periodically evaluate the brand's performance against its objectives. If necessary, adapt the branding strategy to align with changing market conditions and consumer preferences.


Effective brand selection and management play a vital role in creating a strong and enduring brand that resonates with consumers and contributes to a company's long-term success.


Q3. b) Comment on the brand building blocks you are familiar with. Discuss the key initiatives that markets ought to consider in branding decisions.

Ans) Brand building involves several key building blocks that contribute to the creation and maintenance of a strong brand identity. These building blocks are essential for developing brand equity and fostering consumer loyalty.

  1. Brand Identity: This encompasses the visual elements of a brand, such as the logo, color palette, typography, and imagery. A cohesive and visually appealing identity helps in brand recognition.

  2. Brand Positioning: Positioning defines where the brand stands in the market and how it is perceived by consumers relative to competitors. It helps establish a unique selling proposition and target audience.

  3. Brand Personality: Brand personality humanizes the brand by giving it distinct characteristics and traits. Is the brand friendly, innovative, or trustworthy? This shapes consumer perceptions and connections.

  4. Brand Values: The values and principles that the brand upholds should align with the beliefs and preferences of its target audience. Brand values communicate what the brand stands for.

  5. Brand Promise: A brand's promise is the commitment it makes to consumers regarding the benefits and experiences they can expect. Keeping this promise builds trust and loyalty.

  6. Brand Storytelling: Effective storytelling helps convey the brand's history, mission, and vision. It creates emotional connections with consumers and adds depth to the brand.


Key Branding Initiatives:

Successful branding requires careful consideration of various initiatives and strategies.

  1. Market Research: In-depth market research is essential to understand consumer preferences, competitive landscape, and emerging trends. It provides insights that guide branding decisions.

  2. Target Audience Profiling: Define and segment the target audience based on demographics, psychographics, and behaviour. Tailor branding efforts to resonate with specific consumer groups.

  3. Competitive Analysis: Analyse competitors' branding strategies to identify opportunities for differentiation. Highlight what sets your brand apart from others.

  4. Consistent Visual Identity: Maintain a consistent visual identity across all brand touchpoints, including logo, color, fonts, and imagery. Consistency reinforces brand recognition.

  5. Content Marketing: Develop valuable and relevant content that aligns with the brand's messaging and values. Content marketing builds brand authority and engages consumers.

  6. Emotional Branding: Create emotional connections with consumers through storytelling and branding that taps into their emotions. Emotional branding fosters loyalty and advocacy.

  7. Customer Experience: Ensure a positive and consistent customer experience at all brand touchpoints. A seamless and exceptional experience enhances brand perception.

  8. Social Media Presence: Build a strong presence on social media platforms relevant to the target audience. Engage with consumers, share brand stories, and address their concerns.

  9. Brand Partnerships: Collaborate with complementary brands or influencers that align with your brand's values and target audience. Partnerships can expand brand reach.

  10. Brand Monitoring: Continuously monitor brand performance, customer feedback, and social media mentions. Address issues promptly and adapt branding strategies as needed.

  11. Sustainability Initiatives: Incorporate sustainability and corporate social responsibility (CSR) initiatives into your branding. Consumers often appreciate brands that prioritize social and environmental causes.

  12. Innovation: Stay innovative and adaptive. Launch new products or services that align with evolving consumer needs and market trends.

  13. Measuring Brand Equity: Use metrics and research to measure brand equity, customer loyalty, and brand perception. These insights guide future branding decisions.


Branding is an ongoing process that requires strategic thinking, creativity, and a deep understanding of consumer behaviour. Effective branding initiatives can lead to increased brand loyalty, market share, and long-term success in a competitive marketplace.


Q4. a) What are the factors to be kept in mind in choosing brand element and how do they help in building brand equity?

Ans) Selecting the right brand elements is a critical decision in building brand equity. Brand elements are the visual, auditory, and sensory cues that consumers associate with a brand.

  1. Memorability: Brand elements should be easy to remember. Simple names, logos, and slogans are more likely to stick in consumers' minds.

  2. Meaningfulness: Brand elements should convey meaning related to the brand's identity, product, or benefit. They should resonate with the target audience.

  3. Likability: Brand elements should be likable and appealing to the target demographic. Consumers are more likely to engage with brands they like.

  4. Transferability: Brand elements should be adaptable to various product lines or extensions. They should not limit the brand's potential for growth.

  5. Adaptability: Brand elements should remain relevant over time. They should not become outdated or tied to a specific trend.

  6. Protectability: Brand elements should be legally protectable through trademarks and copyrights. This prevents competitors from imitating or infringing on the brand.

  7. Clarity: Brand elements should be clear and not lead to confusion or misinterpretation among consumers.

  8. Visibility: Brand elements should be visible and easily identifiable in various marketing channels and contexts.

  9. Consistency: Brand elements should be consistent across all touchpoints and communications. Consistency reinforces brand recognition.


Building Brand Equity:

Choosing the right brand elements helps build brand equity, which is the value and strength of a brand in the minds of consumers.

  1. Memorability: Memorable brand elements lead to increased brand recall. When consumers easily remember the brand, they are more likely to consider it when making purchase decisions.

  2. Meaningfulness: Meaningful brand elements convey the brand's core attributes, benefits, and value proposition. They help consumers understand what the brand stands for and why it matters.

  3. Likability: Likable brand elements create positive associations with the brand. Consumers are more inclined to have favourable attitudes toward and preferences for brands they like.

  4. Transferability: Brand elements that can be extended to new products or categories allow the brand to leverage existing equity. Consumers trust and are more willing to try new offerings from a familiar brand.

  5. Adaptability: Brand elements that remain relevant over time prevent the brand from becoming outdated. A timeless brand image maintains consumer interest and loyalty.

  6. Protectability: Protectable brand elements safeguard the brand from imitation and dilution. Legal protection ensures that the brand retains its uniqueness and exclusivity.

  7. Clarity: Clear brand elements help consumers understand the brand's identity and positioning, reducing confusion and misinterpretation.

  8. Visibility: Visible brand elements ensure that the brand is consistently recognized across different marketing channels and touchpoints, reinforcing its presence.

  9. Consistency: Consistent brand elements build a cohesive brand identity, enhancing brand recognition and trust among consumers.


Q4. b) What are the five levels which brand can use to sustain value overtime?”

Ans) Brands can sustain value over time by navigating through five levels of brand development and management. These levels represent a brand's journey from inception to maturity and beyond. Each level presents unique challenges and opportunities for maintaining and enhancing brand value:


  1. Basic Brand: At this initial level, a brand is just starting to establish its presence in the market. It focuses on creating brand awareness and recognition. Key activities include choosing the brand name, designing a logo, and defining the brand's core attributes and benefits. The primary goal is to make the brand known to its target audience.

  2. Branded Product: In the second level, the brand begins to attach itself to specific products or services. This involves product branding, where individual offerings carry the brand's name and logo. Brands at this stage work on creating a positive perception of their products and delivering consistent quality and value to consumers.

  3. Brand Extension: As the brand evolves, it may explore opportunities for brand extensions. This involves leveraging the existing brand equity to introduce new products or enter different markets. Successful brand extensions benefit from the trust and recognition built by the core brand.

  4. Global Brand: At this stage, the brand has expanded beyond its original market and has a global presence. Global brands are recognized and respected in multiple countries. They often face the challenge of adapting their messaging and offerings to diverse cultures while maintaining a consistent global identity.

  5. Iconic Brand: The highest level of brand development is when a brand becomes iconic. Iconic brands have achieved a rare level of recognition, trust, and influence. They are deeply ingrained in culture and society, and their logos and symbols are instantly recognizable worldwide. Iconic brands continue to innovate, adapt, and stay relevant to remain at this level.


To sustain value over time, brands must continually invest in brand management, innovation, and customer engagement. They should also monitor market trends, consumer preferences, and competitive landscapes to make informed decisions at each level. Effective marketing, brand consistency, and delivering on brand promises are crucial elements of maintaining brand value as a brand progresses through these levels. Additionally, brands should be adaptable and open to evolution while preserving the core values and attributes that have made them successful. By doing so, brands can enjoy enduring success and maintain their position in the hearts and minds of consumers.

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