Relier Pairs Managing Product Life Cycle IVersion en ligne Managing The Product Life Cycle par Bryan Guerra 1 Find new customers 2 Changing the value offered 3 Reaching new markets 4 Trade up 5 Downsizing 6 Product manager responsibilities 7 Market modification strategy 8 Increasing product use 9 Trade down 10 Product modification 11 Product repositioning 12 Product bundling 13 Reacting to a competitor´s position 14 Catching a rising trend 15 Create a new use situation A strategy that company uses to find new customers, increase a product’s use among existing customers, or create new use situations. One of the objectives of the market modification strategy. 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 changes the place a product occupies in a consumer’s mind relative to competitive products. Strategy that Dockers uses for its casual pants by promoting different looks for different usage situations: work, weekend, dress, and golf. 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. The sale of two or more separate products in one package. It involves reducing a product’s number of features, quality, or price. 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. Reducing the package content without changing package size and maintaining or increasing the package price. Changing consumer trends can also lead to product repositioning. Reason to reposition a product because a competitor’s entrenched position is adversely affecting sales and market share. 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. It involves adding value to the product (or line) through additional features or higher-quality materials.
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