Brand Marketing . Managing product and brands. The Product Life Cycle Concept. Products, like people, have been viewed as having a life cycle. The concept of the product life cycle describes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline.
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Managing product and brands
1. Consumer products have shorter PLCs than industrial products.
2. Mass communication informs consumers faster and shortens PLCs.
3. Products affected by technological change tend to have shorter PLCs.
1. High learning product
2. Low learning product
3. Fashion product
4. Fad product
1. Product brand -- the specific version of a
product offered by a particular company
2. Product class -- refers to the entire product
category or industry such as video games
3. Product form -- pertains to variations
within the product class
1. Usage barriers -- the product is not compatible with existing habits.
2. Value barriers -- the product provides no
incentive to change…not that much better.
3. Risk barriers -- risk can be physical, social or
4. Psychological barriers -- which can be the result of cultural differences or image.
Brand name that
can be spoken
Big Mac hamburger
Betty Crocker cake
Brand name that
cannot be spoken
Campbell Soup Co.
Ford Motor Co.
Ralston Purina Co.
Trademark, brand name, or trade name
registered with the and Trademark Office
Brand Equityis . . . .
The added value a given brand provides a product beyond the functional benefits provided.
Licensingis . . . .
a contractual agreement whereby a company allows another firm to use its brand name, patent, trade secret, or other property for a royalty or a fee.
Manufacturer branding strategy
Generic branding strategy