Relacionar Columnas Managing Product Life Cycle IVersión en línea Managing The Product Life Cycle por Bryan Guerra 1 Downsizing 2 Trade up 3 Product modification 4 Find new customers 5 Market modification strategy 6 Trade down 7 Create a new use situation 8 Changing the value offered 9 Reaching new markets 10 Catching a rising trend 11 Reacting to a competitor´s position 12 Increasing product use 13 Product manager responsibilities 14 Product repositioning 15 Product bundling It involves reducing a product’s number of features, quality, or price. Reason to reposition a product because a competitor’s entrenched position is adversely affecting sales and market share. The sale of two or more separate products in one package. A strategy that company uses to find new customers, increase a product’s use among existing customers, or create new use situations. 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. Strategy that Dockers uses for its casual pants by promoting different looks for different usage situations: work, weekend, dress, and golf. A company can decide to change the value it offers buyers and trade up or down. 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. Reducing the package content without changing package size and maintaining or increasing the package price. 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. One of the objectives of the market modification strategy. 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. Changing consumer trends can also lead to product repositioning. It changes the place a product occupies in a consumer’s mind relative to competitive products.
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