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MarketingCh11 - Any name phrase design symbols or...

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Slide 11-12 Figure 11-1, p. 281: Figure 11-1, p. 281: How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions - Just a model - Not a good day to day management tool, does not always have right timing Skimming – price high to recover costs Penetration- Price low to gain a foothold in the market Maturity can last a long time
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Figure 11-3, p. 285: Figure 11-3, p. 285: Alternative product life cycles
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Figure 11-4, p. 286: Recording industry product form life cycles
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Video Game Console PLCs
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Slide 11-25 Figure 11-5, p. 287: Figure 11-5, p. 287: Five categories and profiles of product adopters
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Managing the PLC and Three Possible Strategies to Extend Product Life Cycle Modify the Product Modify the Market Find New Users Increase Use Create New Use Situations Reposition the Product React to Competitor’s Position Reach a New Market Catch a Rising Trend Change the Value Offered
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Branding and Brand Names What is a brand name?
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Unformatted text preview: Any name, phrase, design, symbols, or combination used to distinguish a seller’s goods or services. Branding and Brand Names Any name, phrase, design, symbols, or combination used to distinguish a seller’s goods or services. We can have…. . Spoken Brand Names Brand Marks (symbols) Branding and Brand Names Any name, phrase, design, symbols, or combination used to distinguish a seller’s goods or services. We can have…. . Spoken Brand Names Brand Marks (symbols) Trade Names / Trademarks (legal standing) Why Do We Brand? Identification Repeat Sales New Product Sales (Brand Extensions) Strong brand name + a good new product + fit Be careful of canibalization Brand Loyalty Brand Personality / Brand Equity Figure 11-6, p. 294: Building Brand Equity Figure 11-7, p. 296: Alternative Types of Branding Other Important Product Strategies Packaging / Labeling Warranties...
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