aem 240 practice processes

aem 240 practice processes - How to manage/extend the...

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How to manage/extend the product life cycle 1. modify the product a. modify product attributes: appearance, function, quality, etc. 2. modify the market a. increase number of users b. increase frequency of use c. find new uses for product: substitutions 3. reposition the product a. react to competitors b. catch a rising trend c. find a new market d. change value offered How to create brand equity 1. develop positive brand awareness and associations with products 2. create brand meaning/message; functional aspect and abstract (image) aspect 3. induce proper responses to a brand: thoughts and feelings 4. create a loyal, intense relationship between consumer and firm branding strategies: 1. multiproduct branding strategy: one brand, multiple products, line extensions, subbranding, brand extension 2. multibranding strategy: every product gets a new brand, expensive, reduces repercussions of failures 3. private labeling strategy: manufactured elsewhere and sold under a retail brand name 4.
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  • Summer '07
  • Marketing, Brand, Product A.

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