Oct 28 - Product Strategy, Part III

Oct 28 - Product Strategy, Part III - What roles do brand...

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Product Strategy, Part 3 October 28, 2009 Instructor: Tamar Milne
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Agenda Extending the product life cycle Product development strategies Diffusion of new products Key product element: Brand For next class. .. 2
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Extending the Product Life Cycle Increase frequency of use Increase number of users Find new uses Change the product: quality/performance, packaging ... or say goodbye, if necessary 3
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Product Development Strategies 4 Current Product New Product Current Market/ Segment Market Penetration Product Development New Market/ Segment Market Development Diversification
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Diffusion of New Products Factors affecting the rate of adoption: Relative advantage Compatibility Complexity Observability Trialability 5
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Video: Mom’s Healthy Secrets Product life cycle stage? How can Julie accelerate diffusion?
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Unformatted text preview: What roles do brand and packaging play? 6 Key Product Element: Brand Brand: name, term, sign, symbol, or any other feature that identifies and differentiates a product 7 Categorizing Consumer Brands By Brand Names By Brand Ownership 8 Corporate or Family Manufacturer Corporate + Product Line Individual Store/Private Label Generic Brand Equity Brand equity: added value for a product from a well-known, respected brand name Brand awareness Perceived value Brand associations Brand loyalty Strong brand equity enables: Brand extensions Brand licensing Co-branding 9 For Next Class. .. Readings: Chapter 9: Product, Branding, and Packaging Decisions Chapter 12: Pricing Concepts and Strategies 10...
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Oct 28 - Product Strategy, Part III - What roles do brand...

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