Relier Pairs Managing Product Life Cycle IVersion en ligne Managing The Product Life Cycle par Bryan Guerra 1 Find new customers 2 Product manager responsibilities 3 Reaching new markets 4 Downsizing 5 Reacting to a competitor´s position 6 Product repositioning 7 Product bundling 8 Product modification 9 Trade up 10 Trade down 11 Increasing product use 12 Catching a rising trend 13 Changing the value offered 14 Market modification strategy 15 Create a new use situation 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. Changing consumer trends can also lead to product repositioning. Reducing the package content without changing package size and maintaining or increasing the package price. 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 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 reducing a product’s number of features, quality, or price. The sale of two or more separate products in one package. 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. 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. Reason to reposition a product because a competitor’s entrenched position is adversely affecting sales and market share. It changes the place a product occupies in a consumer’s mind relative to competitive products. 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.
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