Companies must develop their brand through a number of sequential steps as follows:
A. Research the current situation; Envision an ideal future; Combine strategy and innovation
B. Research the current situation; Combine strategy and innovation; Envision an ideal future
C. Combine strategy and innovation; Envision an ideal future; Research the current situation
D. Develop a business plan; Combine strategy and innovation; Envision an ideal future
E. Combine strategy and innovation; Envision an ideal future; Develop a business plan
Answer: A - Companies must develop their brand through a number of sequential steps as follows: research the current situation, envision an ideal future, and combine strategy and innovation. The first step in the brand development process is to research the current situation, which entails looking at what has worked or has not worked. This is a discovery period of past successes and failures. The second step is to imagine/envision an ideal future for the organization that the brand can represent. Finally, companies must combine strategy and innovation to create a brand that reflects their vision.