Awareness in the ATAR Model
Awareness is a measure of what proportion (percentage) of consumers (or other buying units) will become aware of the product – whether or not they buy it.
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ATAR Forecast Model Formula
The ATAR forecasting model is generally used to help marketers forecast sales volumes, sales revenue and profit contribution, primarily for new products, but it can be used for any marketing campaign or project.
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Four brand strategies
When it comes to brand development, there are four main brand approaches, as shown in the following diagram.As you can see, this diagram is a matrix built around the two attributes of existing/new product category and existing/new brand name. This then determines one of the four boxes, namely:Product line extensionMulti-brandBrand extensionNew brandPlease note that the
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Main branding decisions
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 an overview of this process, while
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Individual product decisions
When developing a new product for a company, a series of steps need to be completed – as often discussed in marketing principles textbooks in the product mix chapter, under the heading of the individual product decisions.The main steps that are usually discussed in marketing textbooks include:product attribute decisionsbranding decisionspackaging and labeling decisionsproduct support services/product
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Product attribute decisions
Marketing textbooks, when discussing the product mix, usually outline a series of decisions in regards to product attribute decisions.Attributes of a product are the various components that make up the product. Usually product attributes extend to actual features, as well as uses and benefits. But it is probably easiest to think of attributes as the
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Stretching the product line
What is a product line?A product line is a related set of products offered by a firm. For example, Apple offers computers, smart phones, tablets, MP3 players, smart watches, and online services. Each of these would be considered a separate product line and under each product line they could offer a broad range of different
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Study Notes for Repositioning
Repositioning is the task of implementing a major change the target market’s perception of the product’s key benefits and features, relative to the offerings of competitive products.
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Risks of new-to-the-world products
Although there are many potential advantages for introducing a new-to-the-world product, this type of product carries significant risk and responsibility the firm bringing the market.
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Challenges of a New Category Entry
A new category product is one of several classifications of new products (please see separate article). Other classifications of new products include: new-to-the-world products, product line extensions, product improvements and product repositioning.When a firm introduces a new type of product to the firm, which is an established product in the marketplace, this is known as
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