AEM 240 10.10 - Extending the PLC(Product Life Cycle •...

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AEM 240 10/10/07 More, more, more 75 varieties of instant gravies 30 different VCRs and 50 different DVD players 40 options for toothpaste Choosing what we look like o Shopping for beauty o In 1999 230,000 liposuctions 140,000 eyelid surgeries 73,000 face lifts Benefits of Choice Consumers get the exact product they want… or believe they can? Consumers can obtain status by having a unique product to them? Increase quality requirements from manufacturers to meet consumers’ expectations Problems with Choice Decisions take too much time Regret, too many options are perfect
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Unformatted text preview: Extending the PLC (Product Life Cycle) • Modifying the product • Modifying the market o New users o New uses o More use… package sizes o Repositioning… What is a brand • Recognizable • It delivers consistent performance… • Possesses a distinctive promise… • Creates an emotional bond Why brand • Consolidation • Changed consumers – research points to new attitudes o R and d is valued o Know how quality is defined- it matters o Quality trumps price o More sophistication o Consumers attach important to nostalgia in culture...
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