Relier Pairs Managing Product Life Cycle IVersion en ligne Managing The Product Life Cycle par Bryan Guerra 1 Reaching new markets 2 Trade down 3 Increasing product use 4 Reacting to a competitor´s position 5 Trade up 6 Product repositioning 7 Catching a rising trend 8 Product bundling 9 Changing the value offered 10 Product manager responsibilities 11 Create a new use situation 12 Product modification 13 Market modification strategy 14 Find new customers 15 Downsizing A strategy that company uses to find new customers, increase a product’s use among existing customers, or create new use situations. Strategy that Dockers uses for its casual pants by promoting different looks for different usage situations: work, weekend, dress, and golf. 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. 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. A company can decide to change the value it offers buyers and trade up or down. It involves reducing a product’s number of features, quality, or 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. 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 changes the place a product occupies in a consumer’s mind relative to competitive products. 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. 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.
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