lecture 14 - Both processes affect PLC curve Consumers and...

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Product Strategy: Managing Products & Brands
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From last class. What’s a product? Types of classifications The set of decisions for tangible goods How “newness” is described, and what it means, in terms of consumer behavior and marketing action. Stages of new-product development.
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What you should know… Strategic issues for products The value of the product life cycle (PLC) Implications of PLC for product development Factors that affect PLC Managing more than one product/brand Branding strategy Building brand equity Meeting brand challenges
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The Life of a Product
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Alternative PLCs
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Processes that Affect PLC Adoption – process by which individuals decide to accept a product Diffusion – process by which product is accepted in a social network or community
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Unformatted text preview: Both processes affect PLC curve Consumers and the PLC The Consumer Adoption Process Stages in which consumers decide whether or not to become regular users of a new product. Awareness Interest Evaluation Trial Adoption or rejection Strategies for Managing the Product Life Cycle Modify the product Feature changes (actual product) Repositioning (perceived product) Modify the market Increase frequency of use Find new users Find new uses Find new markets More Than One Product Product line decisions Length Density Product mix decisions Width Length Depth Consistency Building the Brand uspto Brand Strategy Lite...
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This note was uploaded on 04/01/2008 for the course MKTG 3104 taught by Professor Ebcoupey during the Fall '08 term at Virginia Tech.

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lecture 14 - Both processes affect PLC curve Consumers and...

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