Overview: For this third milestone, you will identify key attributes of a brand in the mature or declining stage and assess how the marketing mix is currently
being used at this stage to ensure consumers remain engaged with the brand.
Prompt: This activity will allow you to take a more in-depth look at a brand in the maturity or decline stage. However, please note that the brand may no longer be in maturity or decline, but it should be from a prominent company that allows you discuss key attributes and how the marketing mix was used by the brand while in maturity or decline.
First, select a brand from the brand maturity or decline list that you will use for your final project or one of your own choosing. If you are choosing your own brand, please check if it is appropriate by posting any questions to the General Questions discussion and determine whether there are sufficient resources to cover all aspects of the assignment.
Option 1: Maturity
As you write, consider the following for either Option 1 or Option 2:
Option 2: Decline
Blackberry Blockbuster RadioShack Nokia
- What are some key attributes of the brand in the maturity or decline stage? What are the challenges that the brand is facing in this stage?
- How does the brand use the marketing mix to ensure relevance at the maturity or decline stage? What has the company decided to do with the brand?
What are the benefits and risks of these decisions?
- How is the marketing mix used to engage consumers and enhance perception of the brand at the selected stage?
- What is the role of internal or external stakeholders at the selected stage?
Please address the following critical elements for either Option 1 or Option 2:
- Describe the attributes of this life cycle stage.
- Identify the 4P’s of the brand.
- a) Describe how the brand uses the marketing mix elements as a guide.
- b) Analyze the impact of the marketing mix on overall brand perception.
- c) Describe the role of internal stakeholders in this brand stage.
Guidelines for Submission: This milestone should be submitted as a Word document, 2 to 3 pages in length, double-spaced, using 12-point Times New Roman
font, and one-inch margins. Reference scholarly or peer-reviewed sources from the required and optional resources in this course or from the Shapiro Library to support your claims. All references must be cited in APA format.