Branding Strategies and Product Development

Question: Discuss anout the Branding Strategies and Product Development. Answer: Introduction According to the study of the project planning, I found that branding of products related to any specific organization is getting innovated day by day in order to provide effective brand value to organization. The concerned case study is elaborating about the effective measures related to sensory branding of product. In contrast with this fact, I am evaluating the project of improving branding of products in this essay. There are various phases involved in this project. I am considering three main considerable areas in the project to be evaluated in this essay. Situations Considered According to stages used in improving branding of Color Studio Professional I have found three considerable phases related to the project implementation that needs to be reviewed in order to make the project implementation successful. Development of Gantt chart, Work breakdown structure preparation and Estimation of budget for the project development are the three considerable areas according to my point of discussion. Experiences covered in project development I have found that in the contemporary time the organizations are using sensory branding or sensory stimuli in order to make their brands powerful. Various organizations used two dimensional branding schemes for making their products popular in the target market. I noticed that, application of five senses during finalizing the branding schemes for making the product popular is the better way to attract the customers with respect to developing trends. In the concerned project of Color Studio Professional (CSP), the organization develops their brand value with the help of innovative strategies within their target market. I realized that the thought behind launching the products of CSP was justified with the five senses: A typical day in her life. I need to elaborate that this implementation of new branding perspective needed various project management stages that helped CSP to master the five sense in their branding perspective. Preparation of WBS and Gantt chart for project success was the most effective one. In addition to this, budget estimation is also one important aspect to be considered in this segment. Contribution to the situation The project management is one of the important aspects that need to be managed by the project manager. In contrast with this fact, I found the project planner of CSP very unprofessional in this particular project of improving branding of CSP. There are various aspects I noticed that the project planner needed to consider in the project development phase. Every project development concern should be based on a structured and systematic way of execution. In contrast with the segmentation of tasks and scheduling techniques I noticed various aspects are missed out in the segment of scheduling and segmenting the task. According to my specific study on the budget estimation of improving the branding of CSP I have found that the budget is correctly estimated based on the respective functionalities of the project members in this particular project of CSP. In spite of this aspect I would like to introduce one more aspect into this critical evaluation of budget estimation of CSP project. This important aspect is the project planner of CSP did not used any advanced project management tools for calculating the project budget, this is another negative aspect involved in the pproject development. In contrast with the project phases of improving branding of CSP I found the Work breakdown structure to be inefficient in comparison with one effective WBS structure. The project planner of the CSP did not explain the involved stages within the project development. Learning outcomes According to the critical evaluation done by me I have found various inefficiencies within the concerned improvisation of branding related to CSP. The organization mainly introduced various perspectives within their strategic planning in improving their branding. I found the strategic perspective related to application of five senses in improving the brand value of product. I feel this concept completely justified with respect to the objectives of the project. In spite of this primary stage of the project is justified correctly with respect to my critical evaluation of project management. There are other three aspects that were not maintained by the project planner in this project. First of these is, preparation of Work breakdown structure. I found the project planner inefficient in managing the project stages effectively, the project planner considered the project requirements in the WBS preparation; he did not considered the phases of project development. Second aspect that needs evaluation is that the budget estimation for the project cost estimation is correct but this can be improvised with the help of advanced project management tools such as Microsoft Project. Third aspect is that the project planner neglected the effectiveness of scheduling of Gantt chart. There are two day of gap between the project development phases that may include several malfunctions within project development. In addition to this, the project manager should also consider one testing phase after implementation of the project. I have found these stages being inappropriate within the project development. I think the project planner and organizational heads should be more responsible for these issues within the project planning. In contrast with this phase, I think the careful attention towards the project planning and scheduling will be helpful in solving these kinds of issues. Besides this, every project should consider one testing phase for viewing the results appropriateness. Therefore, the addition to testing phase will be helpful to resolve these issues. Conclusion The process of improving branding within the CSP for gaining more revenues and attracting more customers, I have fund the project plan inefficient in some phases. I have critically reviewed these phases in this essay in order to develop a proper structure of effective project management. In addition to this, I have provided effective measures to resolve these issues with respect to the demands of CSP. The critical evaluation is helpful in understanding the effective measures related to project management of Improvisation of branding of CSP with respect to current business trends. I have evaluated all of these aspects within this essay in order to highlight the critical review of project planning of CSP. References Alexander, B. and Heyd, B., 2014. Sonic branding within fashion retail brands: restrictions, opportunities, effectiveness and success.BS Publications, p.154. Amsteus, M., Liljegren, F., Markovic, S. and Mnsson, M., 2016. Chocolate or Succulent Chocolate: the impact of sensory descriptions on choice. Berg, P.O. and Sevn, G., 2014. Food-branding placesA sensory perspective.Place Branding and Public Diplomacy,10(4), pp.289-304. Chakravarty, S.M., 2015. Sensory Branding: Branding with Senses. InCases on Branding Strategies and Product Development: Successes and Pitfalls(pp. 327-365). IGI Global. Chatterjee, S., 2015. Olfactory branding: a new trend for defining brands through smell-a case of ITC Sonar Hotel in Kolkata, India.International Journal of Trade and Global Markets,8(3), pp.196-206. Kumar, P., 2014. Multisensory Marketing-Building Sustainability Perspective in Diverse Sectors.International Journal of Marketing Business Communication,3(2). Richards, G., 2015. Food experience as integrated destination marketing strategy.World Food Tourism Summit in Estoril, Portugal,10, p.2015. Rossi, P., Borges, A. and Bakpayev, M., 2015. Private labels versus national brands: The effects of branding on sensory perceptions and purchase intentions.Journal of Retailing and Consumer Services,27, pp.74-79.