Managing Product Life Cycle I

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product

marketing business vocabulary

management

26 fois fait

Créé par

Bryan Guerra

El Salvador

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Adriana Beatriz Garcia Avila

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

Relier Pairs

Managing Product Life Cycle IVersion en ligne

Managing The Product Life Cycle

Catching a rising trend

Find new customers

Market modification strategy

Trade down

Create a new use situation

Reacting to a competitor´s position

Reaching new markets

Product bundling

Trade up

Increasing product use

Product manager responsibilities

Downsizing

Changing the value offered

Product modification

Product repositioning

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.

A strategy that company uses to find new customers, increase a product’s use among existing customers, or create new use situations.

Reducing the package content without changing package size and maintaining or increasing the package price.

Changing consumer trends can also lead to product repositioning.

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 reducing a product’s number of features, quality, or price.

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.

The sale of two or more separate products in one package.

It changes the place a product occupies in a consumer’s mind relative to competitive products.

A company can decide to change the value it offers buyers and trade up or down.

It involves adding value to the product (or line) through additional features or higher-quality materials.

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.

One of the objectives of the market modification strategy.

Reason to reposition a product because a competitor’s entrenched position is adversely affecting sales and market share.