Chapter 12 Review

Chapter 12 Review - 38 Part 4 Product Decisions CHAPTER 12...

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38 Part 4 Product Decisions CHAPTER 12 DEVELOPING AND MANAGING BRAND AND PRODUCT CATEGORIES CHAPTER OVERVIEW Brands play a huge role in our lives. We may try a certain brand for a lot of reasons. Maybe someone recommended it. Maybe we want to associate ourselves with the image linked to it. Maybe we happen to remember the ad. Maybe we just want to try something new for the heck of it. We develop loyalty to certain brands (and product lines) for a lot of reasons, too. We may be convinced of the brand’s quality, dependability, or superior results. We may like the price. Or we may stick with it because it’s become a habit, or a family tradition. This chapter examines how companies create those brands. It looks at the decisions marketers make to develop and manage the products and product lines that they hope will become consumer necessities. Chapter 12 focuses on two critical elements of product planning and strategy. First, it looks at how firms build and maintain identity and competitive advantage for their products through this process of branding. Second, it describes the way firms plan and introduce new products. The text stresses that preparation is key in new-product development. It takes careful preparation to see effective product planning and meet the profit responsibility that a category manager has for a product line. It also points out that it costs money to develop and market a single product or full product line and to build a brand image. To protect the investment and maximize the return on it, a category manager is often put in charge of an entire product line, to nurture both existing and new products. Lastly, the text stresses that the needs and desires of consumers change constantly, and successful marketers manage to keep up with—or stay just ahead of—those changes. Changes in the 13 th Edition The chapter has been updated and revised in several ways: The Opening Vignette and Evolution of a Brand highlight Procter & Gamble and its latest innovation in cleaning products. It started with a simple goal—to invent a unique new cleaning tool—and it came up with Swiffer, a simple electrostatic sweeper for hardwood floors and hard-to-reach places. Based on its $750 million in sales, consumers seem to love it as well as the many spinoffs that P&G’s design team subsequently added. And Swiffer created a probable first for a household cleaning product when it appeared on the cover of Rolling Stone . The full story of the creation of this brand is seen in “Conquering Floors with P&G’s Swiffer.” Solving an Ethical Controversy looks at the FDA’s pronouncement that light tuna is safe to eat amid reports that it may contain high levels of mercury. But yellowfin tuna, a large fish known to have higher mercury levels, is often packaged as light tuna. The question remains: should tuna manufacturers be required to post mercury warnings on their packaging labels? The pros and cons are discussed in response to the question, “Is Seafood Labeling
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This note was uploaded on 03/31/2011 for the course ACT 2291 taught by Professor Leedaniel during the Spring '09 term at Troy.

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Chapter 12 Review - 38 Part 4 Product Decisions CHAPTER 12...

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