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Brand Management
April 2023 Examination
Q1. Mr. Raj plans to
start his own fintech start-up for buying and selling Mutual Funds, Gold,
Stocks, Bonds, etc. It will be an in-one app that will help you with all your
investment needs. It is built with total safety features so that you can invest
like a pro. The best thing is it will have free services like tax planning
consultation so that you don’t make wrong decisions. You have been selected as
a brand in charge of the app and you have been given a task to work on brand
elements including brand name. Explain and elaborate on various types of Brand
elements that you will suggest for the app. Also, explain the criteria for
choosing brand elements. (10 Marks)
Ans 1.
Introduction
Fintech
means economic technology and can be described as new technology that
concentrates on enhancing the delivery, automation, and use of monetary
solutions. Furthermore, fintech is used to help business owners, companies, and
consumers better handle their processes, lives, and economical operations by
using one-of-a-kind formulas and software that are utilized on computers and
progressively in devices like mobile phones.
Fintech
showed up in
Q2. Explain the product, pricing,
and channel strategy that you will adopt for the fintech app. (10 Marks)
Ans 2.
Introduction
A product strategy can be defined as a top-level plan describing
what a business wants to attain with its product or service and preparing a
roadmap to complete it. The strategy needs to provide a service to the crucial
concerns, such as to whom the product will help, how it will impact their
lives, and the firm's purposes for the product throughout its lifecycle.
For a fintech firm,
the crucial element is the product differentiator.
Product differentiator- According to some experts, every new-age business is a Fintech
company. So, a company requires a product differentiator to stick out. A
business must choose
Q3. As a brand in charge of the app,
explain to your team the given points:
a. Difference between the product
and brand. (5 Marks)
Ans 3a.
Introduction
Most
individuals require learning the difference between a brand and a product. They
think both coincide, yet there are several fundamental differences between
them. Allows cleaning up the confusion and talking about the
b. Types of risk
associated with reference to the app.
(5 Marks)
Ans 3b.
Introduction:
Fintech
is the combination of money and technology. It refers to any application,
innovation, or software that allows organizations or people to digitally take
care of, gain access to or gain understanding right into their financial
resources or make financial choices. Over the last decade, as the consumer
pattern is leaning toward digital devices, fintech has risen to assist
customers in
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