Relacionar Columnas Managing Product Life Cycle IVersión en línea Managing The Product Life Cycle por Bryan Guerra 1 Create a new use situation 2 Trade up 3 Product manager responsibilities 4 Product bundling 5 Increasing product use 6 Downsizing 7 Product modification 8 Market modification strategy 9 Reacting to a competitor´s position 10 Trade down 11 Changing the value offered 12 Find new customers 13 Reaching new markets 14 Catching a rising trend 15 Product repositioning What Unilever did when they introduced iced tea in Britain, sales were disappointing. The company made its tea carbonated and repositioned it as a cold soft drink to compete as a carbonated beverage and sales improved. A company can decide to change the value it offers buyers and trade up or down. One of the objectives of the market modification strategy. It has been a strategy of the Campbell Soup Company by advertising more heavily in warm months to encourage consumers to think of soup as more than a cold-weather food. Managing existing products through the stages of the life cycle, developing new products, developing and executing a marketing program for the product line described in an annual marketing plan and approving ad copy, media selection, and package design. It involves adding value to the product (or line) through additional features or higher-quality materials. It involves reducing a product’s number of features, quality, or price. Changing consumer trends can also lead to product repositioning. Reducing the package content without changing package size and maintaining or increasing the package price. It involves altering one or more of a product’s characteristics, such as its quality, performance, or appearance, to increase the product’s value to customers and increase sales. Reason to reposition a product because a competitor’s entrenched position is adversely affecting sales and market share. A strategy that company uses to find new customers, increase a product’s use among existing customers, or create new use situations. Strategy that Dockers uses for its casual pants by promoting different looks for different usage situations: work, weekend, dress, and golf. It changes the place a product occupies in a consumer’s mind relative to competitive products. The sale of two or more separate products in one package.
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