m1l4 - Spring 2008 Module 1 Delighting Customers Lecture 4...

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David Robinson © D. Robinson, 2008 Spring 2008 Module 1 Delighting Customers Lecture 4: Product II
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Class 4: Product II Brands Product Life Cycle Product management for mature products
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Brands Way to differentiate similar products A brand is a short-hand for a promise between the seller and the customer It’s a representation of the value offered and expected—the “brand promise” Why will people pay more for branded goods? Why did branding turn out to be important for e- commerce?
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A Brand is a Promise Notice all the brands: 1. PlayStation.2 2. EA Sports 3. Madden 4. NFL
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External Elements of “ Brand A brand is more than a name Name Short, pronounceable, not-rude, distinctive, can be ™ Logo Color scheme Sound (the Intel jingle)
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The Product Life Cycle A theoretical concept with practical implications
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Product Life Cycle A four-stage description of what happens to products over time from introduction into the marketplace to withdrawal.
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