Apr 162017
 

As it is possible to use the product life cycle as a portfolio analysis tool, which allows us to consider whether we have adequately provided for the future profitability for the firm/brand, it is an obvious that there is a strong connection between the product life cycle and the firm’s Read full article…

Apr 162017
 

Marketing mix strategies during the introduction stage Offer a basic product with limited choices, as this also helps test the overall market demand/interest, while keeping costs and logistic challenges relatively low Use marketing communications (IMC/promotion) that are effective in generating initial awareness and reaching innovators. Often specialist websites/blogs and magazines Read full article…

Apr 162017
 

This website has discussed consumer innovators numerous times, due to their importance in generating product adoption and kick-starting the introduction phase of the product life cycle. While innovators are the initial type of consumer, there are other consumer mindsets that are typically discussed in marketing textbooks. The standard consumer adoption Read full article…

May 222015
 

In modern-day marketing, brand equity is generally highly sought-after. Brand equity can deliver financial benefits to the firm – primarily through greater market share, price premium, and increased customer loyalty. There are multiple decisions to be made however, when introducing a new product into the marketplace. This particular article provides Read full article…

Sep 042014
 

  New-to-the-world products are one of several classifications of new products (please see separate article). Other classifications of new products include: new categories, product line extensions, product improvements and product repositioning. Risks of new-to-the-world products Although there are many potential advantages, as outlined above, for introducing a new-to-the-world product, this Read full article…

Sep 042014
 

  The challenges of a product line extension include: Potential product cannibalization Minor increases in sales volume Cluttering or confusing the market Less efficiency of production and marketing Unresponsive retail channels Potential product cannibalization Probably the main concern with a product line extension, particularly for a simple variation of an Read full article…

Sep 032014
 

  When you study new products or marketing in your university degree, you will find that many new products fail to be successful in the marketplace and that evaluation of new product, prior to development and launch, is critical. This is perhaps surprising given that professional and experienced companies bring Read full article…