ACTIVITY 10: Define the Branding Strategy As we have learned in this chapter, building a strong brand is critical to a prod- uct's long-term success. At the same time, it is important to understand how a product's position in its life cycle influences marketing mix decisions. Specific activities include: 1. Create a package design for the product. Specifically, the design should include necessary legal statements, marketing communications, and other information considered important for the package. 2. Develop a warranty for the product. What elements are specifically covered in the warranty? Does the warranty meet, equal, or fail to meet market expec- tations and competitor warranties? 3. Create a branding strategy to include a. National/store branding. b. Stand-alone/family branding. C. Possible licensing considerations. d. Co-branding opportunities