Relier Pairs Managing Product Life Cycle IVersion en ligne Managing The Product Life Cycle par Bryan Guerra 1 Find new customers 2 Reacting to a competitor´s position 3 Changing the value offered 4 Trade up 5 Market modification strategy 6 Create a new use situation 7 Catching a rising trend 8 Increasing product use 9 Product modification 10 Product repositioning 11 Downsizing 12 Reaching new markets 13 Trade down 14 Product bundling 15 Product manager responsibilities It changes the place a product occupies in a consumer’s mind relative to competitive products. It involves reducing a product’s number of features, quality, or price. A strategy that company uses to find new customers, increase a product’s use among existing customers, or create new use situations. Managing existing products through the stages of the life cycle, developing new products, developing and executing a marketing program for the product line described in an annual marketing plan and approving ad copy, media selection, and package design. It has been a strategy of the Campbell Soup Company by advertising more heavily in warm months to encourage consumers to think of soup as more than a cold-weather food. A company can decide to change the value it offers buyers and trade up or down. One of the objectives of the market modification strategy. What Unilever did when they introduced iced tea in Britain, sales were disappointing. The company made its tea carbonated and repositioned it as a cold soft drink to compete as a carbonated beverage and sales improved. It involves altering one or more of a product’s characteristics, such as its quality, performance, or appearance, to increase the product’s value to customers and increase sales. Reason to reposition a product because a competitor’s entrenched position is adversely affecting sales and market share. Strategy that Dockers uses for its casual pants by promoting different looks for different usage situations: work, weekend, dress, and golf. Reducing the package content without changing package size and maintaining or increasing the package price. It involves adding value to the product (or line) through additional features or higher-quality materials. The sale of two or more separate products in one package. Changing consumer trends can also lead to product repositioning.
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