The halo effect explains how a positive impression of one product or trait can spread to a whole brand, and why that matters for launches and brand extensions.
What is the Halo Effect in Marketing? Find Out More...
Sales cannibalization refers to a situation where a company’s own products or services compete with each other for market share.
Understanding Sales Cannibalization Find Out More...
Product complexity refers to the level of intricacy or difficulty associated with a particular innovation. It can be categorized into three main types: technological complexity, usability complexity, and market complexity.
Product Complexity in the Adoption of New Products Find Out More...
Shrinkflation describes a marketing tactic where the size or quantity of a product decreases while the price remains the same. The main reason why brands use shrinkflation is to maintain their profit margins.
What is Shrinkflation? Find Out More...
Find a list of some real-life examples of sales cannibalization, to get a sense of what it is and how cannibalization can impact a brand.
Sales Cannibalization Examples Find Out More...
The product life cycle template for Excel – available for free downloadOften students want to graph multiple products onto the product life cycle using an Excel spreadsheet or some other charting approach. Perhaps surprisingly, this is sometimes awkward to produce easily, given the focus on the Excel spreadsheet to produce graphs rather than images.Therefore, in
Make the PLC: A Free Excel Template Find Out More...
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 new product development requirements.Obviously virtually
New Products and the PLC Find Out More...
Marketing mix strategies during the introduction stageOffer a basic product with limited choices, as this also helps test the overall market demand/interest, while keeping costs and logistic challenges relatively lowUse marketing communications (IMC/promotion) that are effective in generating initial awareness and reaching innovators. Often specialist websites/blogs and magazines provide a specific audience, as well as
Marketing strategy approaches for each stage of the PLC Find Out More...
While the product life cycle model is a very helpful tool for helping to understand current and potential market conditions, in order to develop appropriate marketing and competitive strategies, there are some limitations and concerns with the usage of the PLC.Firstly, not all new products will be successful. That means that for many new product
Criticisms of the Product Life Cycle (PLC) Find Out More...
One of the challenges of a mature market in the PLC is that, more than likely, eventually the firm will be faced with competition from new style of product. That is, the most significant competitors are going to introduce technology that is quite different in their design/features (while meeting the same underlying consumer need). For
Should we cannibalize our own products? Find Out More...
