Relier Pairs Managing Product Life Cycle IVersion en ligne Managing The Product Life Cycle par Bryan Guerra 1 Increasing product use 2 Product manager responsibilities 3 Reacting to a competitor´s position 4 Market modification strategy 5 Product modification 6 Reaching new markets 7 Downsizing 8 Trade down 9 Create a new use situation 10 Trade up 11 Product bundling 12 Product repositioning 13 Catching a rising trend 14 Find new customers 15 Changing the value offered 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. One of the objectives of the market modification strategy. 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. It involves reducing a product’s number of features, quality, or price. 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. Changing consumer trends can also lead to product repositioning. It involves adding value to the product (or line) through additional features or higher-quality materials. A company can decide to change the value it offers buyers and trade up or down. 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 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. 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 strategy that company uses to find new customers, increase a product’s use among existing customers, or create new use situations.
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